Question 1: What exactly is a payday loan?
Answer 1: A payday loan is a small unsecured loan, usually for $100 to $1,000, that is designed to meet your financial needs until your next payday. Essentially, you are making out a check for the advanced loan amount, plus a fee, to be held until your next payday.
Question 2: I've heard of payday loans described as numerous different terms. What are the differences?
Answer 2: Payday loans are also known as cash advance, short term loans, payday advances, cash loans, fast cash, fast loans, bad credit loans, deferred deposit, and a number of other things. No matter what you call them, payday loans can get you through your financial crisis.
Question 3: I would like to get a payday loan. How do I receive my cash?
Answer 3: The payday loan / cash advance is wired directly into your bank account, usually within one hour. Most online loan companies take up to 48 hours to send you the cash you need.
Question 4: What is the loan approval process?
Answer 4: Once you have completed a simple the application form, you will often need to fax a blank check, your most recent bank statement, and a recent pay stub. Loan approval takes only minutes from when most companies receive them.
Question 5: have finished the application. When will the money be in my bank account?
Answer 5: Your cash advance wire is sent to your bank for processing within hours of approving the loan, and in most cases the funds will be in your account fast. This means that even if you apply for a payday loan from in the evening, the funds can be in your account as early as the next morning!
