Learn about cash advance or pay day loan before borrow

Learn about cash advance or pay day loan before borrow.

A pay day loan or cash advance loan is a extended to you in between pay checks, to help you with unexpected expenses. It is designed to be used for emergency financial situations. Personal Advance Loans strives to be the #1 source for our customers' short-term financial needs. We encourage you to use our services the way for which they are intended, not as a permanent source for your financial funding.

How does getting a personal loan work?

Applicants will begin the process by filling out and digitally signing our online application. Once submitted, we review your application and notify you either by phone or email regarding your status. If your personal loan is approved, you will receive the funds the next business day (as long as you are approved by 5 pm EST, Monday through Friday). All applicants will receive their status via email. Please pay close attention to all emails that you receive from them.

Requirements for a personal loan:

- You must have a CHECKING account that is at least 3 months old
- You must be currently employed
- You must have email and internet access

How much does a personal loan cost?

Typical Lender
The fee for advancing or personal loan typical is around $25 per every $100 borrowed. For example, if you borrowed $300 the fees would total $75.

What is the period of time the short term, payday loan is designed for?

Personal loans are intended to be used for quick cash in the case of a financial emergency. The loan period is most often 14 days long, but may be shorter depending on when your next payday is.

How long does it take to get approved?

Depending on what time of day you apply and how quickly you complete the application process, you can be approved within minutes. However, keep in mind that most lender open from 9 am to 6 pm EST Monday through Friday. Please take these hours into consideration when awaiting a response.

What happens when your loan is due?

You will be required to submit a payment request online typically no later than 5:00 PM EST on the business day prior to your due date. You should see the "Payments" section of that lender FAQ page for more information regarding payment requests.