What exactly is a payday loan?
A payday loan is a small unsecured loan, usually for $100 to $1,500,
which is designed to meet your financial needs until your next payday.
Essentially, you are making out a check for the advanced loan amount,
plus a fee, to be held until your next payday.
Payday loans are also known as cash advance, short term loans,
payday advances, cash loans, fast cash, fast loans, bad credit loans,
deferred deposit, and a number of other things. No matter what you call
them, payday loans can get you through your financial crisis.
1HourLoan.com is here to help you find a payday loan lender. We
present your completed application to our vast network of lenders in
order to find a lender that is most likely to approve your loan. By
searching for a payday loan through 1HourLoan.com, you can be
sure that your application has been reviewed by the leaders in the
payday loan industry.
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What are the requirements for a loan?
The minimum requirements for a payday loan are:
To be approved for a loan, you need to meet the requirements of
the specific lender with whom you are connected. The lender will
evaluate your application and determine whether you are eligible based
on its own set of approval criteria. Factors such as income, direct
deposit of your pay, past payday loan history and state of residence,
may affect the approval of your loan.
If your application is accepted by a lender, your assigned lender
may contact you directly and ask for additional information in order to
approve the application. Payday lenders utilize proprietary criteria
to evaluate applicants and will approve your loan when your application
matches their criteria.
In order to increase your chances of getting matched with a lender
and ultimately approved for a loan, please be sure to fill out our
application with honest verifiable information. For example, entering a
cell phone number instead of a home phone makes it more difficult to
verify your information and many lenders will not accept applications
that cannot be verified.
We do our best to find a lender for you, but unfortunately there's no
guarantee that your loan application will be accepted.
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How do I get a payday loan?
Simply complete the online application and submit it from our web
site and we will attempt to connect you to a lender online within
seconds.
If you are matched with a lender, you may be a required to
electronically sign and agree to the terms of the loan. However, there
is no obligation to accept the loan. If you are not satisfied with the
terms of the loan, simply do not sign it, and apply again to find a
different lender.
Typically the proceeds of your loan will be electronically deposited
into your bank account by the lender the next business day. You will
typically have the ability to choose the payment option that works best
for you. All payments are processed by your lender by electronic
transfer from your bank account.
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How long do I have to pay back the loan?
Your loan is normally due on your next pay date. However, most lenders will allow you to extend your loan by paying a fee.
Once matched with a lender, you will be directed to your lenders loan documents. Here you will find specific instructions as to what happens when your loan is due. You typically have the following options:
Please contact your lender directly if you have repayment questions.
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How do I receive my cash?
The payday loan / cash advance is wired directly into your bank
account by your lender. LoanLenderStar works with a network of lenders,
some of which can have money in your bank account in as little as 1
hour!
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How quickly can I get my money?
Payday lenders typically process the loan immediately so that it will
be available in your account the following business day after the loan
is approved. Some lenders can wire the money to your bank account
immediately. If you apply on a weekend or holiday, the money will be
sent to you by your lender the next business day.
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What hours is your service available?
We accept applications 24 hours a day, every day of the year.
However, once your application is provided to a lender, sometimes its procedures require additional verification which can only be done during normal business hours. Please keep in mind that the lenders can only electronically deposit money to your bank account on days when your bank is open.
You can submit your loan application to us at any time 24
hours a day 7 days a week. However, since we only match you with lenders
who are available to help you in real time you may be more likely to
find a lender during normal business hours (Mon-Fri 8 am – 5 pm EST)
since not all lenders operate on weekends and holidays.
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How do bank holidays affect my loan?
The following bank holidays are observed by Federal Banks and their branches:
New Years Day
Martin Luther King, Jr. Day
Presidents Day
Memorial Day
Independence Day
Labor Day
Columbus Day
Veterans Day
Thanksgiving Day
Christmas Day
For holidays that fall on Saturday, Federal Reserve Banks and
branches are open the preceding Friday. For holidays that fall on
Sunday, Federal Reserve Banks and branches are closed the following
Monday.
If your loan is approved on a weekend or bank holiday, typically your
funds will be sent the next business day. You should contact the
lender directly to confirm when the money will be deposited and the ACH
department of your bank to verify that the funds have been credited to
your account.
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How much money can I have advanced to me?
1HourLoan.com will help you get up to $1,500, based upon the
information that you provide to us on the loan application. Your lender
may offer you a smaller loan until you establish a payment history with
them.
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What are the loan fees for the cash advance?
1HourLoan.com works with a network of lenders whose cash
advance fees are among the lowest in the payday loan industry. The fees
will vary depending on which lender you are matched with.
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What if I do not get approved by the lender you matched me with?
1HourLoan.com works with a vast network of payday loan
lenders; however, we cannot guarantee that you will receive the loan
you need. We do our best to match your application with a lender likely
to provide you with a loan. However, payday lenders utilize proprietary
criteria to evaluate applicants and may not approve all accepted
applicants.
1HourLoan.com is not involved in the loan approval process and
therefore we do not have knowledge of the status of your loan. Please
contact your lender directly for loan approval status.
If you do not get approved for a loan with the lender you were
assigned to, you may re-apply by going to the Returning Customers link
on this website. We will attempt to match you with another lender.
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What if my application is not matched with a lender?
1HourLoan.com works with a vast network of payday loan
lenders; however, we cannot guarantee that we can find a lender for
you. If you are not matched with a lender, here are a few suggestions to
improve your chances if you chose to re-apply:
What if I only have a savings account?
We have several lenders in our network that can lend you money even
if you only have a savings account. Please contact your bank to get the
routing number. This is needed in order to electronically transfer the
loan funds to your account.
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What if I have a fixed income or benefits?
As long as you have a steady stream of income, our lenders may be
able to provide a loan to you. Enter your benefit provider as your
Employer. If you do not have the telephone number of your benefit
provider, enter your own telephone number. Enter the number of months
you have been receiving benefits for the Months Employed.
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What if I do not have a driver’s license or state ID?
If you do not have a driver’s license or a state ID, please enter your passport number or social security number.
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Does your company do credit checks?
1HourLoan.com is not a lender and we do not perform any type of
credit check. We try to match your application to lenders in our
network in order to find the right loan for you. Most of our lenders do
not do traditional credit checks, however, they may query various
consumer databases, such as CL Verify, TeleTrack or DataX in order to
verify your identity and review your past payday loan history.
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Do I need to fax any information?
No, the application process does not require faxed documents.
However, your lender may ask you to fax over certain information, such
as a paystub, if they are unable to verify information in your
application.
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I am ready to get a payday loan / cash advance! Where do I go to apply?
Great! You can go to our online loan application and sign up today!
Click Here to Apply with Our Pre Qualification Now!
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