A payday loan is a short term cash advance. These loans can be obtained very quickly and are usually used by people who have a financial emergency and are in need of a quick remedy. Pay day loans are also known as cash advance loans and generally range from $100 to $1500. The loans typically have to be repaid within 2 weeks. You will be charged a fee or interest on the loan amount. An average charge would be in the neighborhood of $10 - $20 per $100 borrowed. This fee however, will vary from lender to lender.

 

To qualify for a payday loan you must be at least 18 years of age, have a bank checking account, and have a verifiable steady monthly income. Some pay day loan lenders may require you to have a minimum monthly income amount. This requirement will vary from lender to lender. Credit checks are usually not required so if you have bad credit you can still qualify for a loan as long as you meet the other criteria.

 

Payday loans can be applied for over the internet. A search for cash advance or payday loan will return thousands of lenders. You have to be careful however, when choosing a lender as there are many scam artist on the internet. You will be required to provide your bank account information when you apply for a payday loan so you must insure that you are dealing with a reputable, legitimate business.

 

Our Recommended Pay Day Loan Lenders

 

 Cash Central - State licensed in each state served. Loans up to $700.00 . 24 Hour customer service.