The online application is the most popular way of applying for quick cash loan among UK customers and is entirely faxless and paperless. 99% of the lenders provide this option for their clients.
The process starts when a potential borrower visits the website of the lender. On the website the client chooses the needed amount of loan (usually most of the websites has convenient online sliders with amount of money and period of paying back to chose from).
In the next step the client is asked about personal and financial details such as employment status, wage size, bank details and other and the last step is the submitting of the application by just pressing the button `Submit` or `Apply`.
Most often the lender will contact the borrower soon after the submitting of the application by phone or by email with straight decision for approval or denial or for more information if they need such. The decision period is short, in most cases within an hour or same day. If everything goes smooth you should receive the funds in your bank account within the same day.
If you chose to apply for a payday loan online you need to know that all the documents are sent and signed online. If your loan request is approved by the lender you will receive an online agreement signed by the lender and these online documents have the same value and authority as printed papers.