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.

Girl confused about payday loans

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.