Want to find out how payday loans work and what it takes to acquire one? Read through these frequently asked questions to have all your questions answered. There is no need to sign up for a payday loan and not be sure what you're doing. Be prepared when you receive the cash you want and find out what decisions you can make to have your loan paid off in full on time.
Frequently Asked Questions
What is a Payday Loan?
A payday loan is a short term, unsecured loan that use your future paycheck as collateral. They are also referred to as a cash advance or check advance.
How Much Can I Receive?
If approved, you can take out a payday loan in between $100 and $1,500.
Do I Qualify?
You qualify for a payday loan if you are:
Over 18 years of age
Make at least $1,000 a month
Have a working checking account
This will vary from lender to lender. Please ask your designated lender for any addtitional questions or concerns.
Can I Get a Payday Loan With Bad Credit?
Yes, most payday lenders will work with you if you have less than perfect financial history.
How long is the Approval Process?
If approved, many lenders can have your money to you on the next possible business day.
Can I get Direct Deposit?
Yes, that is the only way online lenders operate. Direct deposit is the easiest and safest way to complete a payday loan transaction.
When Is the Loan Due?
A payday loan usually matures by the time you receive your next paycheck, unless you decide to extend the length of your current loan.
*Some additional terms and conditions may apply. Please
ask your loan consultant about
all of the repayment options
