What Exactly Are Payday Loans Anyway?
In short, payday loans are short-term loans that help you to get cash when you need it. These loans are generally repayable in a short period of time, generally on the date of your next payday. The short-term nature of the loan means that you can get cash quickly, especially when you have an emergency between pay periods.
How Can You Use a Payday Loan?
Payday loans can be used however you like. They can be used for anything from medical bills to home repair, and there are generally no questions asked about the purpose of the loan.
Who Qualifies?
Anyone over the age of eighteen and employed full-time qualifies for a payday loan. You must also have a bank account for deposit, with either checks in your name or a debit card linked to the account.
How Long Does It Take To Get A Loan?
Depending on the company, it may take as little as a few hours for the loan to be made. The industry standard is around two hours, with some companies taking even less time to process the loan.
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