A 200 dollar loan with monthly payments is a credit, which is granted to you without tedious paperwork and strict requirements. You don’t need to have a perfect credit history to have your request for the loan approved. Lenders realize the necessity in quick payday loans, so you don’t have to provide the credit report to have the application granted. The only thing required is the upcoming paycheck, as proof of capability to repay the loan or any other source of income (for example, social security). In most of the United States, 200$ is an easy sum, which is granted for the majority of applications, even for people with bad credit history. The interest rate of the loan is flexible and depends on the state where the loan is taken. The credit period also varies between the states, but the average period length is 31 days.