What is a Payday Loan?
Often
referred to as Cash Advance Loans, a Payday loan is a
short-term loan which generally ranges from $100-$1500. Payday
loans are a great short-term solution for an emergency
situation such as car repairs, household situations, medical
bills and more. A Payday loan must be repaid within the terms
of the agreement, usually when your next paycheck arrives.
How
does it work?
A Payday Loan enables almost anyone to get a short-term loan.
Most lenders require that you have stable employment, and
receive income. Loans typically need to be paid back within a
certain period, usually a few paychecks.
How much can I borrow?
Amounts can vary from lender to lender but typically range
from $100-$2000. The amount you can borrow depends on many
different factors such as employment history, income, and
more. Once you are approved the money is wired straight to
your bank account.
How do I qualify for a loan?
You must meet the three requirements below in order to
qualify for a Payday Loan:
1. You must be at least 18 years of age.
2. You should have a checking account.
3. You must have a regular income of at least $800 per month.
*If you have bad credit, no credit, or even bankruptcies you
can still qualify for a Payday Loan.
How much will the loan cost?
The cost of
the loan and APR depends on information in your application.
Use our simple no obligation online application and the terms
will be presented to you. If the terms and fees are not what
you are looking for, do not sign the loan agreement. There is
no obligation or fee.
Do I need to fax documents as part of the application?
Everything is done online. The only exception would be if the
lender needs additional information.
Is this site secure?
Yes. Our site uses 128 bit SSL security. Your data is always
safe with us.
Can I have multiple loans at a time?
We do not recommend taking out multiple Payday Loans. Payday
loans should only be used for emergency situations and if
abused can cause further financial difficulties.
Does the process take long?
Customers typically receive approval within hours of applying,
depending on the lender with whom they are matched. Since the
money is wired directly into your checking or savings account,
you can usually have access to your funds immediately.
How soon do I have to pay back the loan?
Payday cash advance loans are generally repaid back when you
receive your next paycheck. The standard time for loan
repayment is usually no less than seven days and no longer
than eighteen days.
|
