What is a Cash Advance, Payday Loan, or Paycheck Loan?

A payday advance provides you with an unsecured, short-term cash advance until your payday. Customers choose payday advances to cover small, unexpected expenses while avoiding costly bounced-check fees and late payment penalties. With Paydays Online you can apply for a payday loan online and have your advance electronically deposited to your checking or savings account.

What about Qualifying?

Qualifying for a payday advance is easier than qualifying for traditional credit. Paydays Online does not perform credit checks. Your job and your paycheck act as your collateral. You only need to meet the following requirements:

• Currently have a job (or receive regular income)
• Make at least $1000 per month
• Are 18 years of age or older and a U.S. citizen
• Have checking account or savings account with direct deposit

Does the process take long?

Customers typically receive approval within hours of applying. Since the money is wired directly into your checking or savings account, you can usually have access to your funds the very next day.

What if I have bad credit, NSF’s, charge-offs or a bankruptcy?

Not a problem! Paydays Online does not obtain a credit bureau report to qualify you for a cash advance payday loan.

What about collateral to receive a loan?

No. Your job and your paycheck are your collateral.

Do I need direct deposit?

At this time we can only process your loan if your paycheck is direct deposited; it is the most secure way to offer loans as quickly as we do.

Is there an application fee?

Paydays Online never charges applicants a fee to qualify for a payday cash advance loan.

Is my application and financial information secure?

Absolutely. We respect our customer’s privacy needs in managing their personal finances. Our site uses a variety of security measures to maintain the safety of your personal information. All sensitive information transmitted between your browser and our website uses 128 bit Secure Socket Layer (SSL) encryption technology.

How often should I use this service?

Whenever an immediate or urgent need arises, Paydays Online is here to help. It is important to remember that a payday cash advance loan is a short-term answer to an immediate cash need. Payday loans are not intended for repeated use in supporting an on-going budget situation from payday to payday. Repeated use or reliance on payday loans can create serious financial difficulties. If you need help with credit, budgeting or debt management, please contact the National Foundation for Credit Counseling at 1-800-388-2227.

How is the payday cash advance loan amount determined?

State law regulates and limits the maximum advance amount to between $100 and $500. Within that range, you qualify for a payday advance amount based on your current income.

How are fees established?

Our fees are competitive and in compliance with all applicable state and federal laws.

Why is there so much information in the Loan Agreement?

The Agreement is a contract that complies with all applicable state or federal disclosure requirements. It completely outlines the terms of the payday advance, including the cost of the service fee both as a dollar amount and as an annual percentage rate (APR).

How soon do I have to pay back the loan?

Payday cash advance loans are generally repaid back when you receive your next paycheck. The standard time for loan repayment is usually no less than seven days and no longer than eighteen days. Of course you may also pay back your loan at anytime without any prepayment penalties.

What if I can’t repay the payday loan in full on my due date?

We have different payment options available for our customers:

1. Paying the loan in full on the maturity date listed on your loan agreement*.
2. Paying the finance fee and a portion of the principle on or before the maturity date*.
3. Paying only the finance fee on the maturity date*.

*Some additional terms and conditions may apply. Please ask your loan consultant about all of the repayment options.

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