Instant payday loans are short-term loans, which need to be paid back within 2 to 4 weeks. They do not require any security or collateral. If you can meet the eligibility criteria, your loan request will be processed and approved by the lender.
Traditional lenders want you to have a pretty good track record with no defaults and mostly on-time payments. Banks and even credit unions won’t consider your application if you have had some credit problems in the last several years.