How do Payday Loans Work?

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  • No Faxing. Online Application
  • No Obligation or Hidden Fees
  • Be a citizen of the US 18+ y.o.
  • Have a verifiable form of income
  • Have an active checking account

Payday Loans Online Service: Fast Cash, Direct Lenders Only

Our life is full of unexpected situations and unfortunately not all of them are pleasant. Sometimes we face the circumstances which demand quick financial decisions, like medical emergency, traffic accident, a car breakdown or some others. It may become a real problem if you lack money for the effective managing the emergency situation you face. Luckily our service offers fast and effective solution to any of the unforeseen monetary problems you may face.

Payday Loan and Cash Loan Guide

We review each site to make sure your getting the best experience possible when applying online for a loan via the internet. Payday loans are often set up so any person can apply and obtain a small loan for a small amount of money. This amount is often the same as one’s normal check size, although some of these loans can be for several thousand dollars. Because the lending institute makes so much money per loan and understands that these are all high-risk loans, there are often no credit checks. This lack of credit checks means that everyone gets the same treatment and high interest rates. Payday Lenders offer quick cash advance loans and are willing to take on the risk of these short term loans to get you funded quickly. Typically these online cash loans are for a period of thirty to ninety days. In some cases you are able to extend the loan which is referreded to as “rolling over” the loan amount.

Application Process

Before being granted an online cash advance you must complete an application form. The first thing to look for is that the form you are filling out is secure and offers a privacy policy. Once you have determined this complete the form and click submit to broadcast your request to lenders.

Approval time

99.9% of all online lenders and marketing agencies provide a real time response to your loan request. If for any reason the response requires additional information you can expect a payday lender to contact you within the sameday you have made the loan request.
Interest Rates
After this process is complete you will be presented with the terms of your loan. These terms are different and should be in accordance with state and federal law. Once you have read the terms of the loan and proper APR Disclosure forms you can in most cases sign the document electronically online. It is at your discretion whether you want to proceed with the loan.
Many of these payday loans have huge interest rates, with 150% per day not being uncommon. To understand this, one simply needs to look at a $100 loan. With a 150% per day interest rate, by the second day, one is looking at having to pay back $150. The third day has the total being $225.00. This rate continues until the loan is paid back between 7 to 18 days. Than can mean a lot of money being spent for a small gain of cash.
Receiving Funds
Once this document has been completed the payday lender will direct deposit the agreed loan amount to your checking or savings account. Most payday lenders do accept anyone with a checking account however if you have a savings account you need to make sure the lender supports this method of money transfer before you apply.