Payday Loan, Cash Advance FAQ

Q: What is a payday loan?

Payday loans or payday advances are quick and easy ways to get the money you need today, and pay it back on your next payday.

Q: Does poor credit history disqualify me?

If you have bad credit it is not a problem to get approved for a loan. If you have any questions about your eligibility, feel free to contact us or complete an application for more information.

Q: What are the requirements to get a loan?
  1. You must have direct deposit of your paycheck.
  2. You must not have any outstanding bad checks.
  3. You must not have more than one outstandingpayday loan with another company.
  4. You must have an open and active checking account.
  5. You must take home a minimum of $1,000 per month
  6. You must get paid at least twice a month.

Q: Can I get a loan if I don't have a checking account?

No. You must have a checking account. Savings and money market accounts do not qualify.

Q: How much does a loan cost me?

The fee for a payday loan is $17.65 per hundred dollars borrowed. For example, for a $100.00 loan, the fee is $17.65 for a total payback of $117.65.

Q: How much can I borrow?

The maximum a first time customer can borrow is $300.00. After you have paid back your first loan completely, you may be eligible for a higher amount.

Q: What paper work must I fax in?

After you complete your online application, please fax in:

  • A copy of your most recent bank statement or a 30-day online transaction report.

  • A copy of your 2 most recent pay stubs.

  • A copy of your photo ID.

Q: How long does it take for me to get the money?

It only takes one business day if you get approved before 6:00 PM. (EST). The money will be directly deposited into your account. Please note that some banks may require one extra day.

Q: How long is the loan for?

This is a payday loan, so therefore your due date is your next payday. If your next payday is less than (4) days away, the loan will be due on the following payday.

Q: What about loans requested on the weekend or Friday?

All payday loan requests that are submitted that are approved Monday-Thursday by 6:00 PM (EST) will be in your account the next day. Friday loan approvals will be deposited in your account on Monday. All weekend requests will be treated as Monday requests.

Q: Can you get an extension on your payday loan?

Yes, you can get extensions. You must contact our office by either phone or email two (2) business days prior to your loan being due.

Q: How long after I pay my loan off do I have to wait to get a new loan?

You must wait three (3) banking days, or you can fax us a transaction report that shows the debit cleared your account and then we will be able to issue a new loan that day.

Q: Can I have more than one payday loan at a time?

No. You can only have one outstanding payday loan with Advance Paycheck Now at any given time.

Q: How does an extension work?

If you are unable to repay your payday advance on the due date you can pay a fee to extend the loan until your next payday. The extension fee is $17.65 per $100.00 borrowed. For example if your loan was for $100.00, you would have to pay $17.65 and then you would owe the original loan amount on your next payday.

Q: Is my loan confidential?

Absolutely, every payday loan is completely confidential.


Copyright 2017 All rights reserved. | Site Design by: Seven Design Avenue