FAQ

Unlike a cash advance on a credit card, or an extension of your credit line, a payday loan doesn’t have exorbitant interest rates or high lending fees. It’s easy-to-use, just as easy to pay off and doesn’t require a review of your credit rating. Payday loans are safe, secure and a viable alternative to the high financing costs of bank loans, credit lines, overdrafts and credit card cash advances. So what can people expect from payday loans? More importantly, for those looking to benefit from a cash advance through a payday loan, what are the steps involved?

How do payday loans work?
A payday loan is a short-term loan that people use in order to borrow money in-between pay periods. Individuals use payday loans to pay for bills, monthly expenses, emergencies, to avoid overdraft fees and to avoid the high interest rates charged by credit card companies on cash advances.

Are payday loans better than conventional loans?
When comparing a payday loan to a bank loan, or credit card cash advance, think of the high interest rates charged by these conventional lending institutions. Think of the hassle involved in apply for a bank loan and the embarrassment of sometimes being refused. Most importantly, think of the overdraft fees banks charge on individual accounts when you take money out in an emergency. Last but not least, think of the impact on your credit rating when you’re forced to take a cash advance on a credit card and are unable to make that payment immediately. When used properly, a payday loan can avoid all these costs and can be used to improve your personal credit rating.

Are payday loans safe?
Payday loans are a safe and secure method of borrowing money. All of our online forms and application portals use 128-bit encryption and each step has the added security in place. Not only are payday loans safe, but your personal information is always protected and never shared with anyone. All information is used in accordance with standard lending practices. We only share your information with the lenders that approve your application.

How do I get approved and how long does it take?
Getting approved for a payday loan is simple and straightforward. In fact, our approval process is so easy it allows us to approve well over 90% of applicants. Once the application is submitted, a loan officer will review the application and confirm your approval within 24 hours. In most cases the approval is immediate and the money transferred to your account in the same day. Here is a list of what’s needed:

• Access to working telephone number
• A checking or savings account that allows for direct deposit
• US citizen or permanent resident
• Currently employed for a minimum of 3 months
• Have a current income of $1,000.00 per month.

How much can I borrow and how is the money provided?
Our loan officers will always match your loan amount to what you can afford to pay. We never advance an amount you’re unable to pay back. In terms of how much can be borrowed, we do provide loans that exceed $1,500.00. However, most loans will fall below this amount and the money will be transferred to your checking or savings account electronically.

Do I need to provide a personal guarantee, and can I be approved if I have a bad credit rating?
Our payday loans don’t require any personal guarantee or collateral of any kind. In addition, we don’t base our decision to lend you money on your personal credit rating or credit history. All we need to provide you with money is that you meet the aforementioned criteria. Our guarantee is your current and future employment. This provides us with the assurance we need to advance you the short-term loan.

Are there any fees involved and can I cancel my loan before I get the money?

Our loan application process is entirely free and we will never apply any fees when applying for one of our short-term payday loans. The application process is your request to borrow money and gather additional information about our services. However, there are fees to borrow money and they are comparativem with today’s market. As for needing to cancel the loan, you can do this at any time. There is no contract to sign and no obligation to be concerned about.

How many times can I use payday loans and are they easy to pay back?
Payday loans are easy-to-use and easy to manage. Most of our clients make their payments by their next paycheck. However, like all loans, payday loans must be used properly and abusing these short-term lending vehicles will adversely affect your credit rating. Therefore, use the loans in accordance with your personal financial situation. Don’t borrow more than you can afford and get used to paying off loans before securing a new one. In terms of how many loans you can apply for, that depends entirely upon your state’s rules and regulations.

Payday loans are an excellent solution to your borrowing needs. In most cases, the money is transferred to your account within minutes. The online application is safe, secure and your personal information is always protected. These short-term loans don’t require a personal guarantee and are small enough to be paid off by your next paycheck. However, don’t abuse these loans as failure to make payments will affect your credit rating.