FAQ on Quick Payday Loans

Cash advances can be a terrific way to give you the extra money that you need when your next paycheck is weeks away, but knowing the answers to some of the most commonly asked questions can assist you in figuring out if they’re the best choice for you.

What is a cash advance loan?

This type of loan provides you with the extra cash that you need before you get your next paycheck. It is typically a small amount and a short-term loan that is repaid on your next payday.

How do I qualify?

To qualify, you must meet the following criteria:

- Be employed and/ or have a regular source of income

- Have an existing checking or savings account that accepts direct deposits

- Be 18 years or older

- Be a citizen or a permanent resident of the United States

How long does it take to get a loan?

The application process, when carried out online, is very quick. The speed will vary based on the lender but you can typically expect to hear whether or not you have been approved within a few hours. It could be even sooner than that.

Do I have to have direct deposit enabled on my account?

Yes, the lenders require that you have a direct deposit set up with your bank so that the money can be deposited electronically.

Do I have to have collateral?

No, your regular income is actually your collateral. You do not have to own personal property to qualify for this type of loan.

How do I repay the loan?

The money will be deducted from your bank account on the agreed upon date in your contract. This is usually your next payday. At this time, the finance fee will be withdrawn from your account as well.

How can I use my money once I get it?

You may use the funds however you wish to use them. Some people use them for emergencies while others use them to simple daily expenses.