The flexibility of overnight loans has made this loan popular all over the world. In almost every state this kind of loan is legal and the people like to receive this loan to meet the emergency. This loan is mainly given on short termed basis and you have to pay them back easily when you get your next check. The amount depends on your requirements. You can borrow whatever you need but you should not abuse the opportunity. It is recommended not to borrow too much if you do not have emergency. You should borrow the amount keeping in mind of your income limitation. It will help you then to make your repay process easier. In other words it can be said that it will help you to prevent the cycle of debt.
You know that different states maintain their own laws. You need to be sure whether this kind of loans is permitted in your country or not. In most the countries overnight loans are given on very high rate of interest. If there is extremely high interest and fees you should avoid overnight loans. You can use the money for any purpose and there are no such bindings in case of using the money.