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7. How many Americans took a payday advance loan in 2014?

According to The Pew Charitable Trusts, more than 12 million Americans take out payday loans every year to meet urgent financial requirements. That’s three times the number of Americans who used these loans in 2000.

Payday lending is like a wave that’s sweeping across the working class rather than a niche. Most people borrow to fulfill basic needs and they prefer to approach payday lenders because they don’t need to go through credit checks or prove their ability to pay. 

According to the Consumer Financial Protection Bureau, 2 out of 3 Americans who took out a payday loan took 7 or more loans per year. People may think that taking one payday loan will not kill them, but this can turn into a chronic problem if they’re already behind on their payments.

Assess all your options before you apply for a payday loan. Explore long-term financial solutions and shop around for cheaper loan options before you decide. Check the reputation of the lender and read the terms and conditions carefully before you sign up for a USA payday loan

What does John Oliver Think About It?

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How can I take out a cash advance loan?

All you need to do is to fill out the online application form on our website and submit it. We will try to connect you to a suitable lender within minutes.

If we find a suitable lender, you may be asked to sign electronically to accept the loan terms. You will not be under any obligation to accept the loan offer. There is no need to sign if you are not satisfied with the terms. You can apply again if you want to look for another lender.

The lender will usually deposit the loan amount electronically into your bank account on the following business day. In most cases you can choose a payment option that suits you. Your lender will process all payments from your banking account via electronic transfer.

How soon can I get the money?

Lenders who offer personal loans usually process applications immediately, so you could have the funds in your account on the next business day after you are approved. If you submit your application on a holiday or weekend, the lender will transfer the funds on the following business day. 

What do I need to get a payday cash loan?

You need to be at least 18 years old, have a steady source of income and have an active bank account. To qualify for a loan, you will have to fulfill the approval criteria of the lending company with which you are matched.

If an assigned lending company accepts your loan application, it may get in touch with you directly to request more information which may be needed for approval. Please fill out facts that can be verified in our application form.

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