The 'no credit check Quid Loan' or the 'fax less payday loan' is a fast, practical way of receiving limited amounts of cash at short notice. As the names recommend, this loan may be availed even by people with poor credit history. They are paperless loans that engage minimal procedural roadblock.

How does the no credit check payday loan work?
Reason you need to borrow $100. You may apply for a payday loan if you can supply your last pay stub and information concerning your work in the application form. These are called no credit check loans as they may be availed even by people with poor credit history. The lender does not scrutinize the credit history of the borrower prior to sanction the loan.

How is the rate of interest calculated?
No credit check payday loans are high interest, short term loans. Usually, lenders may work out the rate of interest in two ways:
1) As a percentage of the amount borrowed
2) As a set amount for each dollar borrowed ($20 for every $100 borrowed)

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