Taking your time to choose a payday loan company may not seem like something important. However, not all companies that offer payday loans are the same, and you need to shop around before deciding to apply with a particular company. There are many things that you can use to base your decision, and many questions that you should have answered before you choose a payday loan company. 

First, you should find out what the interest rate is. This is very important, because rates vary from state to state and company to company, although they are always quite high. Also compare finance fees, which are included in your loan repayment regardless of what company you use. This finance fee is also the amount that is added to your repayment amount each time you renew your payday loan. 

Secondly, you should find out how long it takes to process your application and get the money deposited into your bank account. Companies that offer faxless payday loans will be able to guarantee faster turnaround on your loan processing time. If you do choose to go with a company that offers no faxing payday loans, however, you need to make sure that they are in good standing with the Better Business Bureau and that they have a secure website, as well as secure methods for obtaining and verifying your information for approval.