In market there are lots of merchants who are paying the loan to the borrower. The merchants are those who lend money in the form of loan to the borrower with a particular rate of interest for a lump sum period of time. The borrower has to repay the amount within the due date including the interest either monthly or at an interval of two weeks. Here both sides are benefited. Merchants get the interest as income and the borrower get benefited personally. Personal benefit may be like one has to pay the monthly house rent, electric bill, or have to repay the third party loan that was taken earlier. So in timely manner he becomes free from this type of burden. Other types of loan that is being sanctioned by some professional lenders, here the professional lenders i.e. the company people will have lots of benefits. It may be well-known by some person that if company would sanction suppose of 1 crore of loan and fill the target then company will gain a certain percentage of profit. The interest that is coming from the borrower is also a benefit to the company. Now day’s lots of private companies are available in the market and they are in competition in providing loans with low interest and lots of facilities. There are several types of loan like payday/cash, secured, unsecured, Debt management, and Debt consolidation, Car / Auto finance, and Bad credit loan. Payday or cash loans are of paying the cash on the date of repayment. Here one has to pay the borrowed loan interest on the date of payment. Loans are of two types one is of secured another is unsecured type. Secured loans are more promise able than the unsecured loan. Unnecessary fine and money are charged in unsecured loan, there is no legal paper works, may be verbally etc. Car loans are very much important and vital. If someone didn’t have sufficient money to purchase a car, loans are easily making it possible. Specially for common people it is more convenient to enjoy this type of facility. The car loan are now a days available through bank or directly at the car showroom. These are some benefits discussed payday loan lenders.