Frequently Asked Questions about Fast Payday Loans

The answers to the most commonly asked questions about fast payday loans are here.

How quickly can I get fast payday loans?

All of our partner lenders have gone to great lengths to ensure that their processes are streamlined and efficient to maximize the value of their services to borrowers. However, the processing time of fast payday loans will depend on your individual lender. Additionally, some applications take longer to process than others because more documentation is required, such as pay stubs or identification cards. The fastest lenders may be able to have your loan in your bank account by the next business day after you apply (varies by lender).

How do finance charges work?

A finance charge, simply put, is the price you pay for borrowing fast payday loans. Finance charges make the amount of money you repay larger than the amount you originally borrowed. For example, if you borrow a $500 loan, you may pay back $550 to account for the finance charge (charges will vary by lender). A finance charge may also be called an APR, or annual percentage rate. The APR is the percentage of the loan that you pay in interest.

How does a payday loan differ from a personal loan from a bank?

Personal loans tend to require collateral and/or a financial history check, which may disqualify a large number of borrowers. Conventional personal loans also usually take more time to apply and qualify for than fast payday loans. With regard to repayment, personal loans usually require periodic payments over a certain term, while payday loans require a lump-sum payment after a short term (varies by lender).

Do I need a cosigner for fast payday loans?

No, payday loans do not require a cosigner (may vary by lender). To qualify for fast payday loans, you usually need to have a job, a certain monthly income, and a bank account (varies by lender). The co-signing option is typically reserved for traditional loans.

What kind of a bank account do I need to qualify?

Most lenders require that borrowers have an active checking or savings account with a direct deposit feature. Ask your lender for more details about specific requirements.

What is the maximum loan your lenders offer?

The maximum loan you receive will depend on your income and your lender. Some payday lenders will issue fast payday loans as large as $1500 upon qualification (varies by lender).

When I sign up with you, am I applying for a payday loan?

No, we are not a lender of fast payday loans, and the sign-up form is not an application. The form on our website asks only for contact information that we pass onto payday lenders that can help you. You will then apply for a loan, if you wish, on the lender's website (varies by lender). You cannot get a payday loan directly through our site.

How much money do I need to make to get fast payday loans?

Every lender will have different requirements, but the most common income requirement is $1,000 per month. You can ask your lender about income requirements before you apply for the loan.

How long does it take to get approved?

There are no guarantees that you will be approved, but lenders are generally very good about notifying borrowers of their approval decisions as quickly as possible. Some lenders will alert you of your approval status within moments after receiving your online application. With other lenders, the process might take a little longer and require additional steps on your part.