You may qualify for up to $10,000.
Payday loans are used for short-term borrowing, typically until the borrower’s next paycheck. Also called payday advances or cash advance loans. Each payday lender has its own loan underwriting criteria and requirements, based on regulations within the borrower’s state of residence. They’re typically for $500 or less and limited to a fraction of the borrower’s next anticipated paycheck.
Applying for a payday loan is fairly quick and simple, especially when compared to larger personal financing options such as mortgages and car loans. Many payday loan borrowers can receive their cash within a couple of days or a week. Although lender guidelines vary, typical payday loan requirements often include the following:
In the past, applying for a payday loan required the borrower to visit a payday lender’s office or store. The borrower would provide a post-dated check for the amount borrowed, plus additional fees. The date on the check reflected the borrower’s next payday. On that date, the payday lender deposited the check. Today, the application process for payday loans can be completed entirely online. Some lenders do not validate income but will use the stated income information provided by the applicant as a basis for evaluating a payday loan application. Applicants submit their information electronically to the lender, who then evaluates the loan application within minutes, establishing a loan amount and terms if the borrower is qualified and eligible.
Today, instead of providing a post-dated check, many payday loan borrowers allow the lender to automatically debit the borrower’s checking account for an agreed amount. This includes the loan principal and any additional fees required by the lender. If the borrower cannot pay the amount on that date, the borrower may request an extension by paying an additional fee and making arrangements for a new due date.
As an alternative, NetCredit offers personal loans, not payday loans.
It takes just a few minutes to check your eligibility, with no impact on your credit score. You may be eligible for up to $10,000, and you can customize the terms to meet your financial needs.