What are the primary requirements To Qualify for a Cash Loan? By The Investopedia Team Investopedia logo Updated August 31 2021 Read by Charlene Rhinehart Payday loans or cash advances, are short-term low-balance, high-interest loans typically at usury rates. They're named that way because of it being common for funds to be taken out on a post-dated check or account-withdrawal authorisation that comes into...