Payday loans can offer you quick access to cash in a short period of time. These short term loans can assist you with accessing quick funds for expenses such as rent, utilities, medical or other bills. Payday loans are easily accessed. Loans typically require that you be at least 18 years of age or older, a resident of the United States, have a personal checking account, and you will need to provide source of income or paycheck history. The application process for a payday loan is short and does not require a credit check. Applicants are typically approved within minutes.