FAQs:

What are payday loans?

Online payday loans are short-term cash advances designed to meet your emergency financial needs. Payday loans are also perfect for those times when you need a little extra cash for unexpected bills or special occasions. It is designed to bridge the gap between borrower's cash inflow and the paydays.

Who can qualify for payday loans service?

In order to qualify for a payday loan, the borrower generally must have identification, a personal chequing account and a proof of a regular income. Payday lenders typically extend credit based on a percentage of the borrower's net pay until his/her next payday (generally within two weeks or less). The borrower provides the payday lender with a post-dated cheque, or authorizes a direct withdrawal, for the value of the loan plus any interest or fees charged.

How soon can I get my payday loan cash?

Once your application is approved, you will receive the payday loan funds in your active account automatically within few hours.

What if I have poor credit or have filed bankruptcy?

If you have poor credit or no credit, it will not affect the approval of your loan. You can get loan without any checking of your credit score.

What is the period of time the short term, payday loan is designed for?

Payday loans are intended to be used for quick cash in the case of a financial emergency. The loan period is most often 14 days long, but may be shorter in some cases.

How long does it take to get approved?

Depending on what time of day you apply and how quickly you complete the application process, you can be approved within minutes.

When will my cash advance be due?

Since this is a payday loan, your due date is determined by your pay date. Payments are due every 10 to 14 days, regardless of how often you are paid.

If I pay my loan in full, how long must I wait until I can apply for a renewal?

There is a waiting period of 5-6 business days before you can apply for a renewal. Lender must verify that he has successfully received your payment. If you will try to login during the waiting period, you will receive an error message.

How does getting a payday loan work?

Applicants will begin the process by filling out an online application. Once submitted, your application form is reviewed and you are notified either by phone or email regarding your status. If your payday loan is approved, you will receive the funds the next business day.

What is a payment request and how does it pertain to me and my payday loan cash advance?

Every customer is required to submit a payment request online. You must agree to this before you can be approved. All requests must be submitted 2 business days prior to your due date. A payment request is simply an electronically submitted form which notifies the lender how much you wish to pay when your due date arrives.

What happens after I submit a payment request?

The amount you have selected to pay will be deducted from your checking account on your due date. You are entering into a NEW LOAN PERIOD, which obligates you to pay the finance charge associated with your new principal balance at the end of the next pay period.

What happens if I do not make a payment request on time?

If you fail to submit a payment request at least 2 business days prior to your due date, then the entire amount due will be debited! Further, if you are a Free Loan customer, you will forfeit your right to getting the fees waived.