What is a payday loan?

A payday loan is a short term loan that is designed to get you out of financial emergencies. Payday loans are also helpful when you need a little extra shopping or spending cash. Payday loans are designed to be paid back within two weeks of the date you received the payday loan, however you can extend your due date on your payday loan as many times as you want by paying the service fee. In order to extend the due date on the payday loan, all you have to do is submit a payment request to pay the service fee and the payday loan will be extended another two weeks.

How do I get a payday loan?

In order to be eligible for a payday loan you must: be 18 years or older, been at your job for at least 3 months, have a checking account that is at least 90 days old, and have a net monthly income of at least $1000. If you meet these requirements for a payday loan, you then fill out the simple online payday loan application and then fax or email your most recent bank statement. Once you are approved you will receive the funds the following business day as long as your payday loan application was approved by 4pm Eastern Standard Time, Monday thru Friday.

How do payday loans work?

You pay a $25 fee for each $100 you borrow when taking out a payday loan. So, if you take out a $300 payday loan, you will pay back $375 on that payday loan. All first time customers are eligible to receive a free payday loan when they take out their first payday loan as long as they submit a payment request by their deadline. You may submit a payment request for your payday loan online or you may call customer service to set up a payment request. Payday loans are meant to be paid back within two weeks of receiving the funds, but you can extend your payday loan due date as many times as you would like by simply submitting a payment request to pay the service fee. Once your payday loan has been successfully paid off, you are then eligible to take out another payday loan but the maximum amount you can borrow goes up $100. Each time you pay off a payday loan, the maximum amount you can borrow goes up $100 until you reach the $1,000 maximum.