About Payday Loans
Unfortunately, few can accurately predict a financial crunch or even coordinate it with a payday. You don't always have funds available when your car suffers a breakdown on that vacation road trip, for example. When those irritating events do occur when you're short on cash, payday loans can ride to the rescue.
Payday Loans Qualifications
Each state has its own limits on loan amounts and interest rates, but all have similar qualifications for them. Note, however, that several states do not allow payday loans. All states that do allow them, however, require the borrower to
- Be at least 18 years of age.
- Be a citizen or permanent resident.
- Be employed for at least 90 days and earn a minimum monthly wage determined by each legislature.
- Have a U.S.-based bank account of your own.
To make your application as easy and fast as possible, have your last pay stub and your bank information in hand before you start.
Most lenders also require you to have a valid email address and contact phone number.