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1. What is a payday loan?
A payday loan is a short term loan, usually less than $1000, that is borrowed and must be paid back
when you get your paycheck, reason why they are also referred to as paycheck loans. You can take a
payday loan by either going to your local payday store or get one online.
Getting a Payday Loan from a Store
Thinking of going to a store to get a payday loan? You must first look for your local payday or check
cashing store as many of those stores also offer payday loans. When heading to your local store to take
a payday loan, we recommend you take your State picture ID and a second form of identification to
prove your identity. Take your previous paystub(s) to prove you are employed, and some bills with your
address so lender can verify your residential address. Some payday stores may require you to take your
bank Statement with you to prove that you have an open checking account. This way they can check
your balance history ensuring that you make enough money to pay the loan back.
In addition to all these, unlike popular belief, payday stores may approve you for a payday loan right
away. They may call your bank, your employer, and may require you to fax in more information. And as
we said before, many of these payday stores are also check cashing stores so there may be a line or
processing time that you will need to wait.
Payday Loans Online
An alternative to payday loan stores or check cashing stores that offer payday loans, is taking a payday
loan online. The great advantage of taking an online payday loan from payday loan lenders is it can be
done from the privacy of your home. You don’t have to drive anywhere or wait in line to apply for a loan.

2. In addition, online payday loans require less paperwork, and if your employment can be verified online
or via phone, then there is no faxing required.
Online Payday Loans from Direct Lender
Getting a payday loan from a direct payday lender gives you peace of mind because online payday
lenders are required to secure their website with the latest SSL encryption, and other online security
programs such as VeriSign and McAfee, so you know they offer payday loans securely.
Also direct payday loan lenders do not pass your information to other lenders, unless they have your
consent.
Instant Payday Loan Approval
Another great advantage of taking an online payday loan is that in most cases you will get an instant
online approval. That way you know if you were approved and, in most cases, how much you were
approved for in just a few minutes. Just make sure you enter all of your information correctly, one of the
main reasons instant approvals aren’t possible is because customers enter their information incorrectly.

3. No Credit Check
If you have bad credit or less than perfect credit, then payday loans are one of your few options. Most
payday lenders don’t check your credit as long as you can prove you can pay back the loan by proving
you have a stable job with stable income and a fixed pay day. Most lenders require you to have a full
time job, steady paycheck dates, and you make at least three times the amount of what you are asking
to borrow each month net. For example, if you are asking for a $500 loan, then most lenders would like
you make $1500 net a month. But if you make less than that, don’t be discouraged, still apply for a pay
day loan as some lenders, like us, like to make exception for first time customers or good returning
customers.
No Faxing Payday Loans
If you apply for a payday loan with a pay day lender that offer the loans directly, and you entered all
your employment information correctly, along with your bank account and your paycheck amount, and
it can all be verified online, then there is no faxing required. A faxless payday loan is a much faster loan,
so make sure you enter all necessary information correctly on the online payday application.
Direct Deposit Payday Loans
All online payday loans are deposited directly into your checking account. In some cases, lenders may
require you have direct deposit. That means you get your paycheck from your employer via direct
deposit. Having direct deposit helps the verification process but it is not completely necessary, if you
need a payday loan but don’t have direct deposit go ahead and apply for one anyway.