There are no direct payday lenders who will not perform a same day credit check up on the borrower. No credit check loans mean that your loan company performs a soft credit rating check on you before issuing the bank loan. Reasons for soft credit check include: Loan Money are short-term payday loans that are provided without various formalities and usually over the internet. Upon acceptance from the payday loan providers, the debtor may have the money deposited into his bank account on the same day. The efficiency of personal loans for bad credit rating is achieved mainly because of the short application for the loan form which does not require a large amount of information or paperwork based on your creditworthiness. This way, the processing time is immensely shortened.