Explaining Payday Loans:
Just what is a payday loan exactly? A payday loan is a short term loan designed to help make ends meet between paychecks. When you are short on cash, payday loans are a great choice. A cash advance will let you make your scheduled payment. It can spare you from paying over-due charges and expensive, high rate interest payments. In fact, a pay day advance loan can help you get ahead on your payments in stead of behind. In the next section, you will learn how to get a pay day loan. How much money is available? Loans can range anywhere from $100.00 up to $1500.00 depending on your qualifications.
The Payday Loan Process:
Payday loans are simple and quick to process. Unlike other cash advance services, our loan applications are free of charge. They are commonly done over the internet and do not require you to fax any documents to the lender. What this means for you is NO credit checks or costly fees. For example, with every $100.00 you borrow, a $25.00 finance charge will apply. Don’t be worried about paying the loan back. Our expert lenders will work with you to design a payment plan just for you. A low-rate loan finance charge like this provides peace of mind and security.
What are the Qualifications for a Payday Loan?
-U.S. Citizen at least 18 years of age
-Have a checking or savings account
-Have job earnings of $1000.00 or more each month
-Not an active member of the military
*Extra qualifications may be relevant to your loan. A lender will review your personal qualifications to determine eligibility status. Any concerns you may have can be dealt with by calling your lender directly.
Below are Frequently Asked Questions about Loans. Click on the topic that interests you.
1. Application Fees?
2. How Do I Get My Money?
3. Credit Issues? It’s Okay!
4. Number of Loans per Month
5. Interest Payment
6. Repaying my Loan
7. Our Policy
8. No Need for Collateral
9. Is the Website Secure?
10. Required Information
How much is the Application Fee?
A pay day loan application fee is FREE. It does not cost you a dime to apply and get approved. You are less than five minutes away from completing the application. Click the “application” button and fill out the form!
How Do I Get My Money?
Look online at your bank account about 24 hours after you request your loan. The money is automatically deposited for you. You can remain at home or work and not have to drive to receive your loan.
Bad Credit or No Credit is OK!
At times, it’s hard to stay on track with payments. Bad credit can happen to the best of people. Even if you have bad credit you can still get a cash loan tomorrow! No credit also makes you eligible for an advance. It doesn’t matter that you have had insufficient funds in the past. Individuals with NSF’s can still get a loan with no hassle.
Number of Loans Available per Month
A payday loan is a short-term loan used to increase income between paychecks. Most customers use payday loans one time per month. There is no limit to how many times you can apply for a cash advance. Please note loan like this is only for temporary expenses. If you need a longer term loan, please speak with a local banker.
What is the Interest Payment?
The interest for a loan is one quarter of the amount of your loan. For a $100.00 loan, the interest charge is only $25.00. Often times, the lender will work with you, as an individual, to design a payment plan that works great for you.
When do I Repay the Loan?
On average, most loans are repaid within one to three weeks. Each lender has different repayment plans available to suit your needs. Normally, the borrower writes a check for the whole amount of the loan including taxes and interest charges. The check is post-dated for the day the loan due. It is sent to the lender to hold. When it is time to pay the loan back, the borrower will pay back the whole amount. If the money is not paid back or the check does not go through, then additional charges will apply.
Our Policy:
All loans are subject to additional terms and conditions. If repayment is not received, extra charges and fees may be added. All concerns should be sent to the Regulatory Agency for the state of Texas. It is important to remember that a short-term loan like this is only for temporary expenses. If you need a long term loan, please see your local banker.
Do I Need Collateral?
No collateral is necessary. If you meet the loan qualifications, you have met all of the loan requirements. Jewelry or other forms of security deposits are not required for a cash advance loan due to the limited length and life of the loan.
Is the Website Secure?
Yes! The website and on-line application are totally secure. We guarantee that your information will not be shared with any other websites or companies. Only members of the loan team will review and process your information. Your identity remains hidden and your application materials are guaranteed to be protected by our company.
Application Information:
The application process is very short. Fill out your personal information in our encrypted and password protected website. Application information includes your bank account numbers from your savings or checking account. Your Social Security Card number is also a must have requirement. The job information section is the most detailed part of the application form. Our lenders recommended that you have all of your job information prepared including monthly income statement and job contact numbers. Further information may also be required on a person to person basis.