Cash 'til Payday Loan

A Cash 'til Payday Loan Can Pay Your Bills Now

You can't prevent unforeseen bills in your life, but getting a cash til payday loan can take care of them quickly and easily. These loans are made to get cash into your bank account fast. A payday loan is simple to apply for and if you have a steady income, it's likely you can meet the basic qualifications.

How a Payday Loan Works
A payday loan is simply a cash advance on your paycheck. Naturally, for most people their paycheck is from a job, but any fixed-income pay like government assistance or a pension check is all right. Unlike a loan from a bank or other credit source, payday lenders rely on your income to qualify you for a loan. If you have no credit or slow credit, it doesn't matter because it's the quality of your income, not your credit for getting a payday cash advance. This makes getting your loan both easier and faster.

Loan Amount
All payday loans are for $1,500 or less. The exact amount depends on the lender and state laws. For instance, California and South Carolina restrict all payday loans to no more than $300. But Maine, Oregon, Utah, and Wisconsin set no limit on the size loan you can get.

Lenders set their own maximum loan limit, usually $1,000 or $1,500 or the state maximum if it's less. Most lenders also won't make their largest size loan to first-time customers. Some require several smaller loans before getting the maximum loan and others let you get it with your second application.

Qualifying to Get Your Cash til Payday Loan
To qualify for a payday loan your weekly income needs to be at least $200 to $250 after taxes. You also must be 18 or older and a U.S. citizen or permanent resident. Most lenders require you to have an active checking account but some also accept a savings account. The account should have been open for a month or more.

After the lender verifies your application information your loan can be approved. This approval can happen within minutes after you submit the form. Once the lender agrees to the loan the cash is electronically sent to your checking account the next business day.

You are then free to use this cash anyway you want. Then in about two weeks or when you get your next paycheck, you repay the loan. Getting a cash til payday loan shouldn't be something you do every month, but when an emergency hits, it's good to have a money source to rely on.