Are you in need of some extra money for an emergency? Sometimes we can unfortunately fall into a position where we don’t want to be. For example, find ourselves with unexpected bills. In times like this you might be crying out for something to help you, and payday loans might do just the trick.
What are payday loans?
A payday loan is a small loan which you repay including interest with your next wage. Typically, they range between $50 to $2000, but this could vary depending on the lender you borrow from. The most common size of a payday loan being borrowed is around $450. So, once you borrow the loan, you are then required to repay it in full on the fixed date which will be agreed.
Am I eligible?
Like anything, the eligibility criteria of a payday loan varies from lender to lender. One of the most common criteria is as followed:
- They have to be employed or receive income on regular basis.
- Be adult persons and citizen of the United States.
- They must have valid checking account with activated direct deposit option.
- They have to earn at least $1000 per month.
Payday Loan lenders need to ensure that you are able to qualify for a loan. The last thing most lenders want to do is put you in any sort of ‘further’ debt if you are already in debt or even put you in debt to begin with.
Payday Loans Online
Most of the payday loan lenders and brokers in todays society operate using the internet and modern technology. For example, they have all of their information and tools you need to get your desired loan online. The main lenders who tend to operate offline are banks, but we recommend you don’t use a bank when applying as it could be more expensive and take weeks, if not months to get a loan. Finding a payday loan online might be difficult, not because it is hard to find one, it is because it is hard to find one which is reliable and helpful. But, luckily, you can also find referral services and online brokers who can help you with whatever you need.
How can I apply?
Referral services like LoanPig can help you with what you need. Whether it be to connect you to lenders when you are looking for payday or small instalment loans. So if you don’t know where to look, services like LoanPigUSA can help you.
Although, if you have found the perfect lender for you, you can always apply directly. You will be able to find their application form located on their website. This could be on the home page or just a few clicks away. Once you have found the form, you need to complete it and submit it. After this, the lender should get back to you after they have reviewed your application to let you know if you have been accepted or not. If so, you will receive your loan shortly after.