FAQs
- What exactly is a payday loan?
- What are the requirements for a loan?
- How do I get a payday loan?
- How long do I have to pay back the loan?
- How do I receive my cash?
- How quickly can I get my money?
- What hours is your service available?
- How do bank holidays affect my loan?
- How much money can I have advanced to me?
- What are the loan fees for the cash advance?
- What if I do not get approved by the lender you matched me with?
- What if my application is not matched with a lender?
- What if I only have a savings account?
- What if I have a fixed income or benefits?
- What if I do not have a driver’s license or state ID?
- Does your company do credit checks?
- Do I need to fax any information?
- I am ready to get a payday loan / cash advance! Where do I go to apply?
- I still have questions. How can I contact a representative?
What exactly is a payday loan?
A payday loan is a small unsecured loan, usually for $100 to $1,500, which is designed to meet
your financial needs until your next payday. Essentially, you are making out a check for the
payday advance loan amount, plus a fee, to be held until your next payday.
Payday loans are also known as cash advance loans, 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.
PayAdvanceLending.com is here to help you find a payday loan lender that will get you the fast cash that you need. We present your completed application to our vast network of lenders in order to find a payday loan lender that is most likely to approve your payday loan. By searching for a payday loan through PayAdvanceLending.com, you can be sure
that your payday loan application has been reviewed by the leaders in the payday loan industry.
What are the requirements for a payday loan?
The minimum requirements for a payday loan are:
- You must be at least 18 years of age
- Have a job (or other regular source of income)
- You must have an active open bank account
To be approved for a payday loan, you need to meet the requirements of the specific lender with
whom you are connected. The lender will evaluate your payday loan application and determine whether you
are eligible based on its own set of approval criteria. Factors such as income, direct deposit
of your pay, previous payday loan history and state of residence, may affect the approval of your
payday loan cash advance.
If your payday loan application is accepted by a lender, your assigned lender may contact you directly
and ask for additional information in order to approve the payday loan application. Payday loan lenders utilize
proprietary criteria to evaluate applicants and will approve your payday loan when your payday loan application
matches their criteria.
In order to increase your chances of getting matched with a lender and ultimately approved
for a payday loan, please be sure to fill out our payday loan application with honest verifiable information.
For example, entering a cell phone number instead of a home phone makes it more difficult to
verify your information and many cash advance lenders will not accept applications that cannot be verified.
We do our best to find a payday loan lender for you, but unfortunately there’s no guarantee that your payday loan
application will be accepted.
How do I get a payday loan?
Simply complete the online payday loan application and submit it from our web site and we will attempt
to connect you to a payday loan lender online within seconds.
If you are matched with a lender, you may be a required to electronically sign and agree to
the terms of the payday loan. However, there is no obligation to accept the payday loan. If you are not satisfied
with the terms and payday loan rates, simply do not sign it, and apply again to find a different lender.
Typically the money from your payday loan will be electronically deposited into your bank account
by the lender the next business day. You will typically have the ability to choose the payment
option that works best for you. All payments are processed by your lender by electronic transfer
from your bank account.
How long do I have to repay the payday loan?
Your payday loan is normally due on your next pay date. However, most lenders will allow you to extend
your payday loan by paying a fee.
Once matched with a lender, you will be directed to your lenders’ payday loan documents. Here you
will find specific instructions as to what happens when your payday loan is due. You typically have
the following options:
- Do nothing and your payday loan will auto-finance
- Pay off the payday loan in full
- Renew the payday loan and pay interest and fees only
- Renew the payday loan and pay interest and part of the principal
Please contact your lender directly if you have payday loan repayment questions.
How do I receive my cash?
The payday loan cash advance is wired directly into your bank account by your lender. PayAdvanceLending.com
works with a network of lenders, some of which can have money in your bank account in as little
as 1 hour!
How quickly can I get my money?
Payday loan lenders typically process the payday loan immediately so that it will be available in your
account the following business day after the payday loan is approved. Some lenders can wire the money
to your bank account immediately. If you apply on a weekend or holiday, the money will be sent
to you by your lender the next business day.
What hours is your service available?
We accept payday loan applications 24 hours a day, every day of the year.
However, once your payday loan application is provided to a lender, sometimes its procedures require
additional verification which can only be done during normal business hours. Please keep in
mind that the lenders can only electronically deposit money to your bank account on days when
your bank is open.
You can submit your payday loan application to us at any time 24 hours a day 7 days a week. However,
since we only match you with lenders who are available to help you in real time you may be
more likely to find a lender during normal business hours (Mon-Fri 8 am – 5 pm EST) since not
all lenders operate on weekends and holidays.
How do bank holidays affect my payday loan?
The following bank holidays are observed by Federal Banks and their branches:
New Years Day
Martin Luther King, Jr. Day
Presidents Day
Memorial Day
Independence Day
Labor Day
Columbus Day
Veterans Day
Thanksgiving Day
Christmas Day
For holidays that fall on Saturday, Federal Reserve Banks and branches are open the preceding
Friday. For holidays that fall on Sunday, Federal Reserve Banks and branches are closed the
following Monday.
If your payday loan is approved on a weekend or bank holiday, typically your funds will be sent the
next business day. You should contact the lender directly to confirm when the money will be
deposited and the ACH department of your bank to verify that the funds have been credited to
your account.
How much money can I have advanced to me?
PayAdvanceLending.com will help you get up to $1,500, based upon the information that you provide
to us on the loan application. Your lender may offer you a smaller cash advance until you establish
a payment history with them.
What are the payday loan rates for the cash advance?
PayAdvanceLending.com works with a network of lenders whose cash advance fees are among the lowest
in the payday loan industry. The payday loan rates will vary depending on which payday loan lender you are matched with.
What if I do not get approved by the payday loan lender you matched me with?
PayAdvanceLending.com works with a vast network of payday loan lenders; however, we cannot guarantee
that you will receive the payday loan you need. We do our best to match your payday loan application with a cash advance lender likely to provide you with a loan. However, payday loan lenders utilize proprietary criteria to
evaluate applicants and may not approve all accepted payday loan applicants.
PayAdvanceLending.com is not involved in the payday loan approval process and therefore we do not have knowledge of the status of your cash advance payday loan. Please contact your lender directly for payday loan approval
status.
If you do not get approved for a payday loan with the lender you were assigned to, you may re-apply
by going to the Returning Customers link on this website. We will attempt to match you with
another lender.
What if my payday loan application is not matched with a lender?
PayAdvanceLending.com works with a vast network of payday loan lenders; however, we cannot guarantee
that we can find a cash advance lender for you. If you are not matched with a lender, here are a few suggestions
to improve your chances if you chose to re-apply:
- Time of Day: Many lenders do not accept applications outside of normal business
hours. You may want to re-apply during regular business hours – Monday through Friday 8 AM
to 5 PM EST. - Direct Deposit: Payday loan lenders favor customers whose paycheck is directly deposited
into their bank account by their employers. If you do not have direct deposit, please ask your
employer to enroll you in their direct deposit program and then come back and re-apply. - Outstanding Payday Loans: Many lenders will not issue payday loans if you have too
many current payday loans outstanding. Once you have paid off your other payday loans, come back and re-apply.
What if I only have a savings account?
We have several lenders in our network that can lend you money in advance even if you only have a savings
account. Please contact your bank to get the routing number. This is needed in order to electronically
transfer the payday loan cash to your account.
What if I have a fixed income or benefits?
As long as you have a steady stream of income, our lenders may be able to provide a cash advance loan to
you. Enter your benefit provider as your Employer. If you do not have the telephone number
of your benefit provider, enter your own telephone number. Enter the number of months you have
been receiving benefits for the Months Employed.
What if I do not have a driver’s license or state ID?
If you do not have a driver’s license or a state ID, please enter your passport number or social
security number.
Does your company do credit checks?
PayAdvanceLending.com is not a lender and we do not perform any type of credit check. We try
to match your application to payday lenders in our network in order to find the right payday loan/bad credit loan for you. Most of our lenders do not do traditional credit checks, however, they may query various consumer
databases, such as CL Verify, TeleTrack or DataX in order to verify your identity and review
your past payday loan history.
Do I need to fax any information?
No, the payday loan application process does not require faxed documents, as PayAdvanceLending.com matches you with lenders who supply no fax cash advance loans. However, your lender may ask you to fax over certain information, such as a paystub, if they are unable to verify information in your application.
I am ready to get a payday loan / cash advance! Where
do I go to apply?
Great! You can go to our online payday loan application and sign up today!
Payday Loan Application
I still have questions. How can I contact a representative?
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