Medford, NY -- (SBWire) -- 10/17/2011 --Light Payday Loans claims to offer payday loans for any purpose to the borrowers. It is an undeniable fact that people fall short of money between paydays and search for sources from where they could get adequate funds to meet the emergency. And Light Payday Loans offers the same.

“To put it straight the money that is obtained through the payday loan can be used for any purpose,” said the Owner, Light Payday Loans. He added, “Apart from gathering the basic details related to the borrower and his employment status, we do not ask the purpose for which they are borrowing the payday loan from us. This is truly a luxury and also a convenience that people have…in the sense that they need not be accountable to state the purpose at all for which they are borrowing the money. But yes, if the borrower does not use it for the purpose that he has borrowed and splurges it in another way, he is into deep trouble.”

The main reason for deep trouble, he quotes is the high interest rates that will push the borrower into doldrums when the plan is not strictly adhered to. The necessity for cash remains and the funds have been diverted in another way. As a result the borrower needs to borrow money from elsewhere. He highlights that payday loans can get the borrower into a vicious circle or trap if not monitored carefully and the repayments made as per deadlines.

“We offer great financial advice to our borrowers and see to it that they clearly identify their purpose and meet the same and do not deviate at all”, he adds.