What is a USA Payday Loan?
Also known as payday loans, pay day loans or cash advances, these are very short-term personal loans collateralized against your next paycheck(s). For many of our visitors it’s the easiest and fastest way to quick cash between paydays. Simply submit our online form and we will match you with a lender who will determine if you qualify. If approved, your loan amount can be electronically deposited into your checking or savings account the next possible business day. This may vary depending on the lender.
How do I qualify for a payday loan?
These are the requirements:
- Be currently employed or receive a regularlyrecurring income.
- Your take home pay is at least $1000 per month if employed or $800 per month on a fixed income.
- Your savings or checking account uses direct deposit.
- Other requirements may apply depending on your designated lender.
Requirements may vary depending on your lender
How long does it take to get approved for a payday loan?
That will depend on your lender, but it is pretty common to be approved in a timely manner.
What about collateral?
Most lenders only require your job and your paycheck to be used as collateral.
Do I need direct deposit?
Yes. Most of our lenders can only process your payday loan if your paycheck is direct deposited.
How often can I get a payday loan?
USA Payday Loans is here to help you find a lender anytime you need extra cash between paychecks. We encourage all our visitors to keep in mind that a paycheck cash advance loan is only a short-term answer to an urgent cash need, and to use these loans responsibly. Paycheck cash advance loans should not be used repeatedly to deal with continuing budgeting issues. If you need additional help with credit, budgeting or debt management, please call the National Foundation for Credit Counseling at 1-800-388-2227.
When is the loan amount due?
Different lenders may have different requirements. Please speak to your designated lender for any repayment options they may have.