Unlike housing loans and consumer loans where you should prove that the money is spent for the same purpose, a same day loan does not have any binding on the borrower. The money can be spent for any purpose desired by the borrower. In many cases these loans that get processed within a single day are used for treating important guests at home, paying tuition or hospital bills, repairing the home or the automobile, etc. Since the lender does not do a credit check on the borrower, those with bad credit scores are also eligible for such a loan. For these reasons and for many others reasons too short term loans that are made available within a day are always preferred by them. The repayment is very short making it possible to get out of this debt as fast as possible. It also provides the borrower with an opportunity of not incurring unwanted expenses. (visit)