Frequently Asked Questions
- What are payday loans?
Payday loans are unsecured personal loans that are repayable with the next paycheck. The lender requires you to pay the full loan amount including the charges when you receive your salary at the end of the month.
- What is the difference between payday loans and installment loans?
Payday loans are repayable in full at the end of the month while installment loans are payable over several months. You can borrow a higher amount for an installment loan than for a payday loan through our website.
- Who can request a loan?
Individuals who meet the following requirements can apply for a payday or installment loan:
- A US citizen or permanent resident
- At least 18 years and above
- Has been employed for at least 90 days in the current workplace
- Has an active bank account in his or her name
- Can provide an active phone number and email address
- Has a salary of at least $1,000
- Can I get a loan with bad credit?
We encourage individuals with bad credit to send their requests. We cannot assure our clients that there will be no credit check when processing their requests. However, many lenders do not lock out borrowers for bad credit as long as their current financial status enables them to pay the requested amount.
- Am I required to send any documents?
You may not be required to send any documents if your lender can verify your personal information online. The paperwork when applying for unsecured personal loans is minimal especially for payday loans. If your details are not verifiable online, your lender may require one or two documents to verify your source of income.
- How much can I borrow?
You can borrow any amount between $100 and $5,000. The amount of money you request for will determine the type of loan that you will get. You will receive a payday loan for any amount between $100 and $1,000 and an installment loan for any amount between $1,000 and $ 5,000.
- How long does it take to know if my loan is approved?
Payday and installment loans are approved fast if you provide the required information on time. We do not promise instant approval when you provide your personal details in full. However, your lender can approve your loan as fast as five minutes.
- When can I access my funds if my loan is approved?
You lender sends the requested amount to your bank as soon as you accept the loan offer. The speed at which the amount is credited to your account depends on banking hours and processes. You can receive cash the same day if you send your request early in the morning and if your bank processes transactions fast. Holidays and weekends may delay the process further.
- What fees and rates will I pay?
The rates and fees depend on your lender's policy. Every lender has a specific policy on the terms and conditions that apply to payday and installments loans. Your lender is required by law to disclose those terms and conditions before you accept a loan offer. In addition, state laws protect you from overpriced unsecured personal loans. Ensure that your read the terms and conditions carefully before accepting any loan offer.
- What are the implications of non-payment?
Late or partial payment of your loan leads to penalties and fines on your account. You will incur additional charges on top of the normal rates and fees. Penalties and fines also apply to non-payment. Your lender may use a collection agency to recover the unpaid amount from you or file a lawsuit against you. We advise you to borrow money that can pay back as required with your current income. Non-payment worsens your credit score, which affects your ability to borrow money in the future.
- Is it safe to provide my personal details?
- How do I get started?
Requesting for payday or installment loan through our website is simple. If you meet the basic requirements, visit our homepage and complete the simple form. Ensure that you provide honest information in all the required fields. You will receive a response from one lender in our network within a few minutes.