Bad credit, no faxing and guaranteed approval, when summed up, you will get all these in the payday loans guaranteed approval. It is possible for consumers of payday loans to get a loan really fast even if they have bad credit and no collateral. Without having to fax any documents, one can get approval for a payday loan very easily these days. It is the guaranteed approval that is the tricky part of payday loans. Many legitimate companies will actually not offer guaranteed approval under all circumstances. However, many lending companies will give simple and clear guidelines as to whom they will lend money loans to, and provided you meet their basic requirements your application in all purposes is guaranteed approval. Do an online search for payday lenders who suit your purpose. This step will help you know whether you will be approved or not even before you apply. You need to be eligible to get a payday loan, which means you should be over 18 years in age and a US citizen. (source)