FAQ

What is a payday loan?

Payday loans provide you with short-term cash to meet life’s unexpected expenses. When you borrow one of these temporary loans to tide you over until payday, you can use the money any way you would like: to make up late payments to avoid collections, to pay accounts before they become past due, to avoid overdraft fees by topping off your checking account, or to pay emergency expenses before they overwhelm your life. Consumers must understand that payday loans are not always the best financial solution for every situation. For instance, credit cards or conventional bank loans may provide funds at a less expensive annual interest rate.

How does a cash loan benefit me?

The main advantage of payday loans is fast cash when you need it. You do not need to wait for the bank doors to open, for cash advance checks to arrive in the mail, or for a loan officer to return your call in a week or two. If you are having an emergency, you need cash now, not next week. When you use payday loans responsibly, you can avoid unnecessary bank overdraft fees and irreversible damage to your credit report.

Can you guarantee my security and confidentiality?

Cheap fees and fast cash do not matter if your information is leaked all over the Internet. We use 128-bit encryption, secure data transmissions, and rigid security protocols to keep your personally identifiable information safe and secure. You can read more about our processes in our privacy policy disclosure, but we do not sell, rent, or share your information to anyone, except for the lenders who need access to your details to fund your loans.

On the payday loan application, you may be asked for information such as your social security number and/or drivers license number. This information is necessary to verify your identity and prevent fraud. We also ask for your bank routing number and checking account number so that we can transfer your loan funds after approval.

What are the requirements for taking out a payday loan?

Individuals who meet the following criteria may be eligible for instant approval. You must be a legal resident of the United States (citizen or green card holder), aged 18 or older, have worked with your current employer for at least three months prior to the application, make at least $800 monthly after taxes, and possess an active checking account that can receive direct deposits.

You do not need to have collateral to take out a payday loan, and you do not need good credit. Applicants with all types of credit scores have been approved for the maximum loan amount. Approval is based mainly on an applicant having steady income that enables him/her to repay the debt when it is due.

Do I have to pay to apply for a payday loan?

No. Your application is free, regardless of whether you are approved or denied. After you receive loan approval, you will receive the list of loan terms and conditions that includes the fee schedule.

Can I change my mind?

You are not under any obligation to take out a payday loan until you actually accept the terms and receive your money. Your application acts as a letter of interest and does not mandate you to follow through with the loan. Your loan specialist can answer any questions.

How much can I get?

The total amount of your loan will depend on your ability to repay the debt and the maximum amount set by your state. In most cases the largest loan amount is $1500. Your actual loan amount may vary.

How long do I have to wait for my money?

As soon as you press the submit button for your application, your details will be securely transmitted to an experienced lending officer. If your application is approved, your loan proceeds will be sent directly to your checking account within one business day. Whenever possible, your money can be sent the same day or even within one hour. If you have paid back all outstanding cash advances, you increase your odds of being approved quickly.

How do I get my payday loan money?

After your application is approved, you will be notified via email. Your payday loan funds will be sent directly to your checking account, and you can withdraw it via an ATM, debit card transaction, or paper check.

When do I have to pay my loan back?

State loans govern payday lending periods, but most loan repayment coincides with your next paycheck. Payday loans typically must be paid back within 25 days.

Repayment is typically made through the same checking account that was given at the time of application. The fees and principal amount are withdrawn on the predetermined date.

Can I borrow more than one payday loan?

When you take out a payday loan, you are acquiring a debt that must be repaid. If you need to borrow more than one loan or rollover an existing loan, your ability to do so is controlled by your state’s lending laws. A loan officer can help you determine whether you can have four loans in one year, two loans in one year, or an unlimited number of loans. Consumers are reminded that payday loans are short-term solutions. If you find yourself needing multiple loans, you may benefit from credit counseling or debt management services.