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.
ezpday.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 ezpday.com, you can be sure that your application has been reviewed by the leaders in the payday loan industry.
What are the requirements for a loan?
The minimum requirements for a payday loan are:
- You must be at least 18 years of age
- Have a job (or other regular source of income)
- You must have an active open bank account
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.
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.
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:
- Do nothing and your loan will auto-finance
- Pay off the loan in full
- Renew the loan and pay interest and fees only
- Renew the loan and pay interest and part of the principal
How do I receive my cash?
The payday loan / cash advance is wired directly into your bank account by your lender. PaydayInHour works with a network of lenders, some of which can have money in your bank account in as little as 1 hour!
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.
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.
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.
How much money can I have advanced to me?
ezpday.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.
What are the loan fees for the cash advance?
ezpday.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.
What if I do not get approved by the lender you matched me with?
ezpday.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.
ezpday.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.
What if my application is not matched with a lender?
ezpday.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:
- Time of Day: Many lenders do not accept applications outside of normal business hours. You may want to re-apply during regular business hours – Monday through Friday 8 AM to 5 PM EST.
- Direct Deposit: Many lenders favor customers whose paycheck is directly deposited into their bank account by their employers. If you do not have direct deposit, please ask your employer to enroll you in their direct deposit program and then come back and re-apply.
- Outstanding Payday Loans: Many lenders will not issue payday loans if you have too many current loans outstanding. Once you have paid off your other loans, come back and re-apply.
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.
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.
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.
Does your company do credit checks?
ezpday.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.
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.
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!
