A payday loan is a short-term loan usually due in one month. It is regulated by state law, so there are variances depending on where you live. Online payday loans are meant for those who need emergency cash. This type of loan is referred to as a payday loan or cash advance loan.
These loans are fee-based loans which mean there is a fee per $100 you borrow. Most states limit these fees to $15-30 per $100 borrowed. Others limit them based on an APR rate, often the same maximum rate allowed for credit cards which is 36%. The high fees are because of the much higher risk the lender is taking as there are higher default rates for these loans.
Most of the time, your loan is meant to cover emergency expenses like rent, auto repairs, or medical bills that need to be paid immediately. You can use your loan funds in any way you wish, but it is not recommended that you use the money for anything but urgent expenses.
You complete a short, secure, online form and submit it. Get an answer in seconds. You are connected directly to your lender to review your terms and conditions if approved. If you agree, you get your loan funds in your bank account in one business day.
The process can be done 24/7 and 365 days a year. Need cash now? Contact us today!
FaaastCash has been connecting direct lenders and people in need for years. With over 100 direct lenders, we work hard to give you the best chance of getting your request approved.
Read more: https://www.faaastcash.com/blog/essential-tips-to-learn-before-applying-for-online-payday-loans
