How Do Payday
Loans Work?
1. Complete
the Application
The first step in the payday loan
process is the completion of our
quick online application. This form
will allow you to select the loan
amount you desire (up to $1000!),
select your paydates, and provide us
with the bank account where you want
the money to be deposited.
2. You are
Approved Within Minutes
It only takes a few minutes for us
to approve or deny a payday loan
application. If you are denied, you
will receive an email notification.
Once your payday loan application is
approved, the loan amount will be
deposited into your bank account by
ACH. Provided that your loan is
approved by 6:00 P.M. EST, you will
have your money the next business
day.
3. The Money
is Deposited Into Your Account
Once your payday loan application is
approved, the loan amount will be
deposited into your bank account by
ACH. Provided that your loan is
approved by 6:00 P.M. EST, you will
have your money the next business
day.
4. Only The
Finance Charge is Debited on Your
Next Payday
Unless we are instructed otherwise,
only your finance charge will be
debited on your loan due date. If
you want to pay your loan in full,
or pay down an amount toward the
principal, we will need to be
notified 3 business days in advance
of your first debit date.
THERE IS
ALWAYS A NEW FINANCE FEE APPLIED TO
YOUR LOAN EVERYTIME YOUR LOAN IS
RENEWED.
5. Your Loan
is Paid Off
We understand that not all financial
emergencies are solved within two
weeks, so we offer the option to
extend your loan. If you choose to
have your loan extended (by not
contacting us at (866) 213-0345 and
letting us know you'd like to pay it
down), we will do so
automatically up to 4
times, only debiting the finance
charge each time. If your loan has
yet to be paid in full by the fifth
(or any subsequent) pay date, a
minimum principal payment of $50
($100 on balances over $500) will be
debited from your account, along
with the finance charge. |