FAQ

How do payday loans work? 

Payday loans are usually approved based on your income and employment status. Once approved, the loan amount is deposited into your bank account. You are required to repay the loan, along with any fees, on your next payday 

Are payday loans a good option for long-term financial needs? 

No, payday loans are not suitable for long-term financial needs. They are intended for short-term emergencies and can lead to a cycle of debt if used repeatedly. It's important to explore other options, such as personal loans or credit counseling, for long-term financial solutions

How much can someone borrow on a pay day loan? 

The amount someone can borrow on a payday loan varies depending on the state regulations and the lender's policies. Generally, payday loans are for small amounts, typically ranging from $100 to $1,0002. Some states have specific limits; for example, California caps payday loans at $300, while Delaware allows up to $1,0001. It's important to check the regulations in your state and compare different lenders to find the best option for your needs.

If I don't have a bank account can I still apply for a loan?

No. Every borrower must have a bank account

How my loan will be funded?

If approved, the loan will be deposited directly into your account.

Can I get approved even if I have bad credit?

Lenders are more likely to approve payday loans with bad credit than some traditional lenders. 

This is because they are less interested in whether a borrower has a chequered financial past, and more concerned about whether the loan is affordable to them in the here and now.