What is a payday loan?
Basics of a Payday Loan
A payday loan is typically a short term type of money lending service, normally for the amount of $1000 or less. In most cases the repayment is due by your next payday or with in 30 days.
The Main Characteristics of a Payday Loan:
- The loan dollar amount is not large
- In most cases you will have to pay the loan back when you next pay day comes around.
- Normally you will have to provide lenders with to your banking account or issue a check for the full amount prior to getting a pay advance loan, one that can be cashed when the due date comes.
- In some cases, your payday loan can be set to repay in installation spanning a larger time frame.
To learn more and see if you qualify for a payday loan call 1-888-847-1887 or apply for a loan online. Subscribe to our blog for a more in depth look at payday loans and lending services.