Common Questions about Payday Advances
What is a payday loan?
A payday loan is a short term loan for usually $500 or less. A credit check is not required. A payday loan bridges the gap between paydays.
Is a cash advance the same as a payday loan?
A cash advance is the same as a payday loan. A cash advance is a short term loan that borrowers promise to pay out of their next paycheck. Cash advances are typically priced at a fixed price and are usually due on the next pay period, usually two weeks or less.
What can a payday loan be used for?
You can use your cash advance for whatever you like. You can use the money to pay for unexpected expenses, buy something, or use it for a vacation. It's up to you!
How do I qualify for a cash advance?
To qualify for a cash advance or payday loan, you must meet the following requirements:
- You must be 21 years of age or older
- You must be employed at your current job for at least 4 months
- You must have an active checking or savings account that has been open for at least 4 months
- You must not have more than 2 NSF’s on your statement within the last month
- You must have a current phone number where we can reach you and a valid email account
- You must not have filed for bankruptcy within the last year.
How soon can I get my money?
If approved, your loan will be electronically transferred (ACH) to your bank account. You should receive your loan within the next business day (excluding weekends and bank holidays).
How much can I borrow?
Our loans range from $100 to $300. You may be eligible for a loan increase based on your payment history.
How do I repay my cash advance or payday loan?
You repay your payday loan via ACH on the due date that you set (typically within 2 weeks). Your cash advance is deducted from your checking or savings account automatically.
Can I have more than one loan at a time?
Most lenders require that you pay each loan in full before you can get a new one.
Is a Payday Loan or Cash Advance what I need?
A payday loan or cash advance is great if you need to cover unexpected expenses or a short-term financial emergency.
What if I have Bad Credit or a Bankruptcy?
Not a problem. Payday Loan Here does not obtain a credit report to qualify you for a cash advance or payday loan.
How do I get my payday loan or cash advance?
Your payday loan or cash advance is transferred via ACH (automated clearing house) to your checking or savings account.
What happens if I don’t have the funds available to pay back my payday loan or deferred deposit?
If you contact us before the due date, we can make arrangements to refinance your loan, where state law allows, until your next payday. If we attempt to withdraw funds that aren't there, you will incur additional fees, where state law allows.
How long will it take me to get approved for my cash advance?
Once you complete the online application, we will evaluate your application and have an answer for you as soon as possible that day.
How will I know if I've been approved?
Once you're approved an e-mail confirmation is sent to you, or you may be contacted via telephone.