While some people just need to borrow money for a couple days, there are other more long term loans available to borrowers. Some payday loan companies have monthly payday loans (or, short term loans). Short term loans are convenient for the average borrower (than the typical payday loan) because they are a less of a hassle to deal with and less stressful on finances. Monthly payday loans give you a whole month to work your budget and figure out ways to pay off debts and bills.

People who get income on a monthly basis are a better fit for these types of loans. Traditional payday lenders who only loan until the next payday can usually work with the borrower by providing a monthly payday loan, though in some cases they may charge an additional fee. Short term loans may provide you (the borrower) more of a temporary longer term solution, rather than the "getting by until the next day" (or payday) mindset. This will give you time to recover from your financial mistakes or emergencies and allow you to better balance your budget over the course of the loan.