Quick cash loans are more commonly known as pay day loans in the financial market. The popularity of these types of loans is growing due to the ease they offer to the borrowers. These loans are short term loans and like all other short term loans have a high interest rate. People can acquire these loans according to their needs to meet emergency money requirements on time. Pay day loans allow borrowers to access the cash against the applied loans within twenty four hours of the loan approval. Cash advance loans or quick cash loans can be applied for in more than one way which includes:1. Applying and submitting pay day loan forms manually by visiting a financial institute or a bank2. Applying and submitting pay day loan forms through the World Wide Web3. Applying and submitting the pay day loan forms through telephonic servicesThese approaches make the application process time efficient. Also the application form for pay day loan has been designed and developed keeping in mind the urgency of the applicants and includes only the mandatory fields that may include:a) Full nameb) The applicant’s current employment statusc) Recent telephone billd) Recent residential addresse) Recent pay-stubf) A voided checkg) The applicant’s valid bank accounth) Complete bank statementi) A copy of applicant’s social security cardj) A copy of applicant’s state issued ID etc.k) Sold references of other peopleThe information obtained through these application forms is verified by the companies offering the cash loans. Any further information required by the companies is found out through their own network. However, the individuals have to be honest when filling out these forms or their loans will get rejected. Even those individuals who do not have a strong credit report can apply for pay day loans and easily manage their financial troubles.Unlike traditional loans, pay day loans or cash loans do not require collateral but consider the employment proof of their applicants as collateral provided. Applicants who wish to apply for cash loans must make sure to borrow an amount that they can easily repay on time, otherwise they might head straight into a debt trap. The penalty fee for pay day loans is very high and can end up being many times the principal borrowed.Therefore pay day loan borrowers are advised to carefully read the terms and conditions of their pay day loans company and get clarification about unknown terms and jargon. This will prevent any misunderstanding later on. Also, it is important to avoid the cash loans company that penalizes their borrowers for paying earlier than the agreed time. It is also important for borrowers to get information about the limit imposed by the state on the interest rate that these companies can apply to the quick cash loans. This will help borrowers in bargaining for the loans at better interest rates.Borrowers who are vigilant can make use of the cash advance loans in many ways. They can manage any unexpected expense with ease and maintain their financial independence and confidentiality. However, the following applicants might not be able to obtain a pay day loan:1- Have a history of being ignorant to the repayment of such loans2- Reimburse through bounced checks3- Provide false personal and/or contact information on the application forms4- Are unemployed and have no source of income5- Are not equals to or more than eighteen years of age6- Are not legal citizens7- Any criminal or fraudulent activities in the past8- Have a history of being a bank defaulterThese days cash loans have conveniently helped many families make both ends meet.