Nowadays, many Americans struggle to make their paycheck last until the next one, as the last recession definitely put the country in dire financial turmoil to the point that many families are not making enough to sustain their basic needs. In fact, the sluggish economy further made things difficult, which causes so many credit ratings, ruined making it impossible to get a loan again. Fortunately, payday loans become a lifeline for families desperate for instant loan.
Cash advance, paycheck loans, or small dollar loans become highly in the country after the recession and even today, because these short term loans has proven to be very effective in bridging expenses between paycheck. If you are someone desperate for cash to pay your credit card bills, personal loans, and unforeseen expenses, then applying for a payday loan proven to help considerably.
In fact, the easy process, simplified requirements, no credit check, and paper work policy of payday lenders guarantee instant cash to anybody meeting the basic requirements.
What Is The Basic of Applying For Payday Loans?
Applying for a payday loan when done online takes about 5 minutes, more or less. However, if you want to qualify for a short term loan then you must meet the following requirements, such as:
- Bank account under your name (checking, savings account or debit card)
- Permanent resident or U.S citizen
- Employed for at least 6 months
- 18 years old and above
If you met the requirements then you can easily borrow between $100 the minimum loan amount up to $1000 the maximum loan. Take note, you must borrow only what you can pay or what your paycheck can cover, as these types of loan are short term. In other words, you will need to repay the loan on the next payday including the both then principal and the interest rate.Share