Faq

Some Frequently Asked Questions About Our Loan Services

Q. What is short-term financing?
A. Payday loans are so-called because the applicant qualifies for financing based on his or her income from work. These loans are generally made for a period of less than 30 days, and are repaid with income earned from your place of employment.

Q. What can I use the money for?
A. You can use your cash advance to pay bills, shop for groceries or anything you like. These loans are intended to help you take care of expenses when you are short on cash.

Q. How does the application process work?
A. We will take the information you provide and match you with one or more lenders that can best service your needs. These lenders can provide a cash advance that is deposited into your bank account, and the entire process is handled online.

Q. What information do you need from me?
A. We will ask you to provide proof of your identity as only those persons over 18 years of age may apply for a payday loan. You will also need to show proof of income fro work, such as a copy of a recent paystub. In addition, we may ask that you fax or email us a copy of your most recent bank statement.

Q. How soon can I receive my money?
A. Once approved your cash advance can be deposited electronically into your checking account in less than 24 hours in most cases.

Q. When do I have to repay?
A. Depending on the laws that govern payday loans in the state where you reside, you will have to repay the loan on one of the next two paydays from your employer. Generally the loan term is set for between 7-45 days. This repayment is automatically withdrawn from your checking account; you do not have to send payment in the mail.

Q. What fees are charged for a payday loan?
A. All finance charges are clearly stated when an offer of short-term credit is made. These fees vary by state and usually amount to no more than 15 percent of the amount borrowed. No additional fees or interest charges may be applied to the loan.

Q. Will a credit check be performed when I apply?
A. Payday loans use your employment income as security for the loan, therefore a credit check is almost never required. Most payday loan lenders do not report the transactions to the major credit bureaus, so your credit score is unaffected.