How Payday Loans Work
We're sure you've seen plenty of payday loan services on TV or in the newspaper, but allow us to explain how they really work. The general idea of payday loans, is that they are a relatively small amount of money given to the borrower very quickly - usually within 24 hours - which they will pay back upon receiving their next paycheck.
Our payday loan service has helped clients in situations of dire emergency, when no other options were able to them. There are exceptions, however. In some cases these short-term loans are eligible to be extended for a longer duration of time.
To give you a general idea of how payday loans work differently from regular loans that are paid back over a long period of time, here are a few differences. First, and perhaps most importantly, is the fact that they are usually approved almost instantly.
Once the borrower is approved, his or her loan is automatically deposited into his or her bank account, normally within one business day. Another difference between payday loans and regular loans is that payday loans are supposed to be paid back on a specified date.
Apart from that, you'll find that online payday loans in Florida are much easier to take out than regular loans, and that there is much less stress involved. Most of our clients claim that the best part about taking out a loan with our company is the fact that they don't even have to leave their house and deal with bank officials to do so!
The whole process is done online, by filling out our online application. At the time of application, the borrower must meet certain criteria, and must provide us with some necessary information in order for us to process the loan.
Here is a list of requirements, for your convenience, for taking out a payday loan with us:
* You must be a United States citizen
* You must be at least 18 years of age
* You must be gainfully employed
* You must be able to provide us with proof of income (note: Social Security Income and Disability income fulfill this requirement as well)
* You must have an active and valid checking account
Payday loans can be used for any purpose that the borrower wishes. Whether it be that you are unable to make ends meet this month, an emergency has come up, or any other reason, our payday loan service will be there for you and happy to help you get the money you need, when you need it.
When people think about taking out a loan, they tend to become overwhelmed at the thought of having to go into a bank, deal with bank officials, undergo a credit check, etc.
With our company, you are able to avoid all this hassle. In fact, you will not even have to leave the comfort of your own home! Everything is done online. You won't even have to fax or mail us anything. Simple! Right?
To begin applying for your application for a payday loan, begin by filling out our online application. After having done so, one of our loan specialists will be in contact with you and will ask you to provide him or her with all the information necessary for us to process your loan.
This will include things like proof of gainful employment, and proof of income, as well as your banking information for us to deposit your loan into.
Once you reach your loan payback due date, we will withdraw the amount owed from this same account, as well.. After that, all you will have to do is wait to be approved.
The approval process is sometimes immediate, but may take up to 24 hours, and you'll have the money you need, right in your bank!