FAQ

Q. How do payday loans work?
A. Payday loans are a method of short-term financing for individuals needing cash before their next payday at work. These loans are generally made based on the applicant’s income from their employment and do not require a credit check.

Q. How long does it take to get approved?
A. Payday loans are usually approved the same or next business day. The online application is simple to understand and contains all of the required fields to determine the eligibility of the individual. Once the application is filled out it is matched with lenders that can offer a cash advance based on the amount requested and the number of days before the applicant is paid by their employer.

Q. How are the funds deposited?
A. A payday loan can be deposited directly into the applicant’s bank account. The information regarding the checking account is part of the application, and when the loan is electronically signed, the funds are automatically transferred. This procedure usually takes less than 24 hours.

Q. Is my personal and financial information safe?
A. Yes. We obtain this information solely for the purpose of matching an applicant with a lender, and do not share it with other parties. The application is made over a secure online system, and the bank account information of the applicant is likewise kept in a secure database.

Q. Do I have to fax or email documents when applying online?
A Our company may require proof of income in the form of a paystub or other documentation, especially if the income is from an alternate source. We may also require a faxed or emailed copy of the applicant’s most recent bank statement.

Q. What if I choose to cancel a signed agreement?
A. Applicants, once approved for a loan may decline the offer of financing or if the agreement is electronically signed the applicant can cancel the loan within once business day. In this case the loan, if already issued will be withdrawn from the bank account of the customer and no finance charges will be assessed.

Q. What fees do payday loans carry?
A. Generally the fees range from 10 to 15 percent of the loan amount. This varies from one lender to another and also may be affected by the laws of the state where the applicant resides. The fees charged are final and cannot be increased.