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Q:
What is a payday loan?
Payday loans or payday advances are quick and easy ways to get the money you
need today, and pay it back on your next payday.
Q:
Does poor credit history
disqualify me?
If you have bad credit it is not a problem to get approved for a loan. If you
have any questions about your eligibility, feel free to contact
us or complete
an application for more information.
Q:
What are the requirements
to get a loan?
- You must have direct
deposit of your paycheck.
- You must not have any
outstanding bad checks.
- You must not have more
than one outstandingpayday
loan with another company.
- You must have an open
and active checking account.
- You must take home
a minimum of $1,000
per month.
- You must
get paid at
least twice a month.
Q:
Can I get a loan
if I don't have
a checking account?
No. You must have a checking account. Savings and money market accounts do not
qualify.
Q:
How much does a loan
cost me?
The fee for a payday
loan is $25.00 per
hundred dollars borrowed.
For example, for
a $100.00 loan, the
fee is $25.00 for
a total payback of
$125.00.
Q:
How much can I
borrow?
The maximum a first time customer can borrow is $300.00. After you have paid
back your first loan completely, you may be eligible for a higher amount.
Q:
What paper work
must I email or
fax in?
After you complete your online
application, please email or fax in:
-
A copy of your most
recent bank statement
or a (30) day online
transaction report.
Q:
How long does it take
for me to get the money?
It only takes one business day if you get approved before 6:00 PM. (EST). The
money will be directly deposited into your account. Please note that some banks
may require one extra day.
Q:
How long is the
loan for?
This is a payday
loan, so therefore
your due date is
your next payday.
If your next payday
is less than seven
(7) days away, the loan
will be due on the
following
payday.
Q:
What about loans requested
on the weekend or Friday?
All payday loan requests that are submitted that are approved Monday-Thursday
by 6:00 PM (EST) will be in your account the next day. Friday loan approvals
will
be deposited in your account on Monday. All weekend requests will be treated
as Monday requests.
Q:
Can you get an extension
on your payday loan?
Yes, you can get extensions. You must request an extension or email
us two (2) business days prior to your loan being due.
Q:
How long after I pay
my loan off do I have
to wait to get a new
loan?
You must wait three (3) banking days, or you can fax us a transaction report
that shows the debit cleared your account and then we will be able to issue a
new loan that day.
Q:
Can I have more than
one payday loan at
a time?
No. You can only have one outstanding payday loan with Advance Paycheck Now at
any given time.
Q:
How does an extension
work?
If you are unable to repay your payday advance on the due date you can
pay a fee by requesting an extension to extend the loan until your next
payday. The extension fee is $25.00
per $100.00 borrowed. For example if your loan was for $100.00, you would
have to pay $25.00 and then you would owe the original loan amount
on your
next payday.
Q:
Is my loan confidential?
Absolutely, every payday loan is completely confidential.
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