I need a payday loan immediately!

How to Get a Payday Loan Now?

With gas and utility prices reaching an all-time high, many of us are faced with cash shortfalls leaving us in need of instant money. In times like these, getting a payday loan might be the answer to all of your financial troubles.

Payday loans are short term loans that can help meet your immediate cash requirements. The application process is easy, even for those who have a bad credit score. The main advantage of getting payday loans is that you'll be able to get your funding the very same day or the next business day at most. This makes payday loans the perfect choice for when you have a financial emergency.

What are payday loans?

Payday loans are short term personal credit facilities that a lender will extend to you based on your monthly income (hence the name payday loans). Essentially, the loan will be an advance on your current month's salary and you'll have to pay the lender back once you get your pay.

Payday loans have a short repayment time period and are perfect for those times when you need cash urgently for emergencies. The best part about payday loans is that they do not require any collateral or a perfect credit history. Also, most lenders will do a soft credit check which will not affect your credit score.

How soon will I have my money?

An advantage of payday loans is that if you apply correctly and fulfill all the prerequisites then you can get your money the very same day. The time required to get your cash will depend on the funding option you choose.

For most payday lenders, picking up cash from the nearest store is the quickest option.

Secondly, if your debit card is approved then you can get instant transfer to your debit card on the very same day.

The third option is to get a direct deposit to your bank account. This option can require a little patience, but for most online payday lenders you'll get the amount deposited on the next business day.

If you are in a hurry then double check your application before submission and make sure that you check all the boxes for getting a payday loan. Also, you will want to submit your application during business hours on a weekday to make sure that funds are approved and disbursed ASAP.

What's the best time to get a payday loan?

The idea behind getting a payday loan is to cover a shortfall in your monthly budget. In other words, it's a stopgap measure for your short term cash needs. Payday loans can be used for:

  • Paying urgent utility bills like electricity and rent.
  • Emergencies such as paying hospital bills or other medical expenses.
  • Sudden car and home repairs.
  • Putting cash in your account to prevent bounced checks that could lead Non-Sufficient Funds fees.

Requirements for getting a payday loan

Payday loans come under the jurisdiction of state authorities and as such all applicants must meet the criteria set by their relevant states. However, there are a few requirements that are similar in most states:

  • First and foremost, you must be a U.S citizen.
  • You must be over the age of 18.
  • You must be employed and have a steady income that is recurring.
  • You must be ready to provide proof of income or a salary stub so that the lender can ensure that you are able to repay the loan when it's due.
  • Contact information; it goes without saying but the lender will want to know your address and contact number in case you fail to repay your loan.
  • Active deposit account; some payday lenders do not like to hand out cash and would rather transfer funds to an active deposit account. If this is the case, they may also like to be auto-drafted the repayment amount from the same account.

How to get a payday loan?

Getting a payday loan is simple and can be done from the comfort of your home. All you have to do is complete an online form at LendUP.com and one of the lenders we work with will get in touch with your immediately.

You will then receive a call from lender's representative who will explain the process and may ask for more documents. Once your loan has been approved, you'll be able to pick up the cash from the nearest store or it will be transferred to your debit card.