What are Payday Loans?
Handling small emergencies isn’t always as easy as it seems. Whether you need cash to have your dog treated at the vet, money for a medical bill or quick cash for a car repair, it can be a real problem when you’re in between paychecks. In a lot of cases, you may only need a small amount of money now. Therefore, it might not make a lot of sense to apply for a loan that won’t pay out for several weeks. Fortunately, you could check into a payday loan. These kinds of loans are short-term loans that can solve financial problems fast. They basically work like a cash advance on your next paycheck. You supply us with a little bit of personal information and some financial data to get qualified, and we lend you the cash now. Most online payday loans range from about $500 to $1,000, which is generally an ideal amount of money to take care of small emergencies. You have to agree to repay the cash and pay interest on the loan with your next paycheck. In most instances, that’s about a two week period. If you’re looking for a little financial assistance, learn more about payday loans online today.
We Provide Payday Loan Services in the Following States:
When to Consider a Short-Term Loan
Thanks to the internet, consumers have a wide variety of loans at their disposal. However, there are many different types of loans like secured, unsecured loans and line of credit loans. You might even qualify for a quick online loan, a cash advance or a simple payday loan.
The best way to find the perfect loan for your needs is determined by the amount of money you need, the terms of the loan, the cost of the loan and your ability to repay the loan with interest.
Some folks prefer a short-term loan like a payday loan because:
- They don’t want a loan that requires spreading payments out over several months. Many folks would rather get the cash they need now, pay off the loan and be done with it.
- Some customers really need quick cash now before their next paycheck, so online payday loans fit their needs because they pay out so quickly.
- Emergencies always come out of nowhere when you least expect them or are prepared to pay for them, so a quick and easy cash advance may be an ideal solution to financial emergencies.
- Many people may not qualify for a secured loan because they don’t own an asset like a home or car to act as security.
- Lots of people choose to take out an online loan with their paycheck as security rather than going through the hassles of qualifying for more complicated loans.
- Due to a variety of different situations, many folks don’t have access to credit cards. Therefore, they rely on a payday loan whenever a small emergency comes up.
- Some folks prefer not to use the vehicle they drive back and forth to work as collateral. So a small cash advance may serve the same purpose without pledging or risking their primary source of transportation as security.
What Sort of Information Is Needed to Apply for a Loan?
To complete a short application, we’ll require the following information:
- Platinum Lending LTD. will need a phone number where a representative can contact you to discuss your interest in getting a loan. In most instances, it may be possible to cover the qualifying process over the phone, which may save you a bit of time and gas money.
- Of course, you will need to fill in your first and last name for legal purposes.
- We also need your home address, which needs to include your zip code to confirm your residency location.
The information listed above is the basic info required to start a loan application for payday loans online. The next step in the loan process may require you to answer a few questions about your income source, your paycheck amount and how frequently you are paid.
Once a loan representative has approved your initial loan application, you can count on receiving a free loan estimate shortly after applying.
Where Can I Apply for a Loan?
- Anyone who feels reasonably comfortable using a computer online can easily complete our application for payday loans online. Most individuals can easily take care of an application in about two minutes or less.
- If you have any questions or prefer to speak with a representative in person, you can always visit one of our local neighborhood stores. We maintain a sizeable staff on hand to provide additional loan information, answer questions, help you complete an application and process loans.
How Do You Benefit From an Online Payday Loan?
- As the borrower, you are free to decide how you’ll spend the funds. You can use the money for unforeseen emergencies like car repairs, cash for your electric bill, money to cover your rent or mortgage or quick cash for plumbing repairs.
- Unlike many of the loans offered by credit unions and banks that often take weeks before loans are funded, online payday loans can be funded the same day a person applies or the following day if needed.
- Payday loans online are never as complicated or hard to get as traditional bank loans.
- Contracts for online payday loans are written according to state regulations, which require the term of the loan, the amount of money being borrowed and the interest rate to be clearly spelled out for the borrower. This helps to reduce any confusion and makes it clear to the borrower when the money must be repaid.
- Taking out a short-term loan may help to put your finances back in order and reduce stress, so you can focus on family and other enjoyable activities.
Whether you suddenly find yourself with a medical emergency or need extra cash to get you by, an online loan could be just what you need to make things right today.