How Does A Payday Loan Work?


Did your budget fall short this month? Do you need cash to help you get by until your next payday? But how do payday loans work? The first step is to determine how you would like to apply. Speedy Cash offers options to apply online, In a store, Or over the phone. The next step is to fill out your application. To qualify, you will need to meet minimum age requirements, Have a steady source of income, An open checking account, And a valid ID. Once your application is complete, you should receive your lending decision within minutes. If you are approved, then you will select the amount you would like to borrow, up to your approved credit limit. Next, you will review and sign your loan documents. After you have signed your loan documents, either in a store or online, you will receive your money. If you apply for your payday loan at a Speedy Cash store, we will give you your loan funds in CASH, right away. If you applied for your payday loan online, or over the phone, You can choose how you would like to receive your cash. You can pick up your cash the same day at any Speedy Cash store. You can have your funds direct deposited into your checking account. Or, you can have funds instantly loaded to your Opt+ Visa® prepaid card. The last step in the payday loans process is repayment. Payday loans are typically due to be paid back on or around your next pay day, which will correlate with your pay cycle. You can pay by debit card. Cash. Automatic payment from your bank account. Or, post-dated check. On your due date, you will owe the principal amount plus fees. See what our Customers are saying… So the next time you need a quick payday loan, count on Speedy Cash!

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