As with all payday loans, however, this can lead to a bottomless pit of debt. The problem is that you're borrowing against a future paycheck. When that check comes in, you may not have enough to pay off the loan or to cover new expenses.
The policy makes clear that in filling out a loan application, you'll be submitting your name, address, email address, assorted telephone numbers, birth date, Social Security number, financial account information, income information and employment information.
Even though NeedRapidCash.com says that "your privacy is important to us," it proceeds to spell out that your information can be sold to others, including direct-mail marketers, email marketers (read: spammers) and telemarketers.
Meanwhile, pending legislation in the U.S. Senate would ban lead generation for online payday loans. The Stopping Abuse and Fraud in Electronic Lending Act, called the SAFE Lending Act, also would require online lenders to abide by the laws of the state where their customer resides.
This is an important bill and would provide helpful consumer safeguards. While it makes its way through Congress, though, the smartest thing you can do is walk away from any pitch that tries to sucker you into applying for an online payday loan.
These are eel-infested waters, and you don't want to swim there.
David Lazarus' column runs Tuesdays and Fridays. He also can be seen daily on KTLA-TV Channel 5 and followed on Twitter @Davidlaz. Send tips or feedback to email@example.com.