How to Get a $500 Payday Loan
Picture this: you have a few expenses coming up, and don’t get your paycheck for another week. And these are the kind of expenses that you can’t really put off, such as the electricity bill or shopping for school supplies. What do you do now?
Well luckily, you do have options for getting a quick and easy personal loan to cover these expenses and pay it back in installments. Here’s a quick guide on how to get a $500 payday loan from Mypaydayloan.com.
Why Should I Get a Personal Loan?
Payday loans, personal loans, or however you want to call them are essentially small loans you can get when you’re in a small financial pickle. You can apply for such a loan when you have certain expenses that need addressing soon but cannot afford to wait until your paycheck arrives.
Most such lenders like Mypaydayloan.com will not ask why you need the money like banks or other financing institutions will likely do. They are simply financial safety nests that you can turn to whenever you find yourself in a bad situation.
What Do I Need to Do to Apply?
First, you need to check the lender’s requirements for awarding loans. Unlike banks, these lenders usually do not have a lengthy bureaucratic process and the requirements are pretty straightforward. But you still need to consider their conditions.
For instance, here are the main requirements Mypaydayloan.com needs to approve your $500 loan:
- You must be a US citizen over 18 years old
- You must have a job
- You must have an open and active checking account
And that’s it. Some companies will also run a credit check during their application process, and even ask for collateral for certain personal loans, but we don’t. Be sure to check the rules of the company you want to borrow from to make sure you have all the details before applying!
How to Apply for a $500 Payday Loan
When it comes to payday loans, you usually have to submit a form coupled with the necessary documents to show you meet the lender’s requirements. As you can see from our form here, we simply ask for some personal information and our application process has only three steps.
Each company may have a different way of doing things, so again, be sure to check what you need to do to apply for a personal loan from them. You can then choose the amount of money you want to borrow, from $200 to $1,000 and if your application is accepted, your money will be transferred to your account.
You also need to check what fees you need to pay for the loan and make sure you’re making the correct payments. For instance, our fees are $30 for every $100 borrowed, for a $500 loan, that’s a total $150 in fees.
Apply for a Payday Loan Now
If you need an extra $500 this month, feel free to apply for an online personal loan from us here.