Payday loans direct lenders are direct lenders approved by the State regulator and are not under the control of any Federal agency. The regulator has set the rules for the lending structure as a reserve fund purposely designed to insure the financial stability of the lending organization and cover unexpected and spontaneous loses and expenses of that lending group. There is a distinction between payday loans direct lenders and other direct lenders.

The primary difference is that the payday loans direct lenders are not subject to the same paperwork requirements as other direct lenders. They can extend the borrowing process by just filling up an application form with some of their required documents. This does not include the collateral submission by the borrower to the lender for the loan amount.. The lender also does not charge any extra fees for early repayment of the loan as they are not bound by the rules of conventional lenders. Payday loan lenders have the flexibility of extending the term of repayment as per the need.

One needs to be aware of certain guidelines while looking for payday loans direct lenders. For those who find the loan offer they have selected is financially feasible for them; one should then look for the additional facilities that would come in handy during the period of repayment of the same. In case there are any urgent financial situations that require immediate cash injection, then one should look for other options of borrowing. One should look for all the pros and cons and then decide whether they can be able to repay the loan within the specified time or not.