Payroll Advance

A payroll advance is just what it sounds like. A payroll advance is a cash advance before payday. A payroll advance is a two week loan because the purpose of a payroll advance is to provide you, the payroll advance customer, with cash money before your actual payday. A payroll advance is meant to be taken out before payday and paid back on payday which is why it is only a two week loan. A payroll advance is only for employed individuals. If you are unemployed you will not be approved for payroll advance because you have no way to pay back the payroll advance. With no job you will find yourself in debt if you take out a payroll advance because you have to pay it back two weeks after you get the payroll advance. A payroll advance is a loan, it must be paid back, it is not a gift.

A payroll advance costs $25 for every $100 that you borrow. This is a 25% finance fee. Every two weeks you have the payroll advance you are required to pay this finance fee. This is incentive to pay back your payroll advance as soon as possible. An example of this service fee is a $300 payroll advance. A $300 payroll advance will cost you $75 in finance fees, so you will be required to pay back a total of $75. First time payroll advance customers get their finance fees waived when they pay off their entire payroll advance. Check out Mypaydayloan.com’s payroll advance service at www.mypaydayloan.com.