How it Works
The GreenStarCash Difference
The Top 5 Payday Loan Questions
A payday loan is a short-term cash advance that you take out to cover unexpected expenses or simply to get by between paychecks. The maximum loan amount varies between states but is usually no more than $1,000. The loan term is typically between two and four weeks. When your next paycheck arrives, your payday loan lender automatically deducts the principal plus fee from your bank account.
The requirements are typical throughout the country. To be eligible for a payday loan, you must:
- Be 18 years or older. Some states require you to be at least 21;
- Be a US citizen;
- Have a regular source of income;
- Have an active checking account;
- Provide the lender with your valid contact details, including your email address and phone number.
In rare cases, your lender may require you to send over some additional information like proof of identity, a recent bank statement, or a paycheck stub.
The payday loan lenders we work with will always perform some type of credit check. They might run a soft credit check on you which involves getting your credit score with one of the major credit agencies like TransUnion, Equifax, or Experian. Soft credit checks neither affect your FICO credit score nor show up on your credit report to anyone but you.
Payday loan lenders might also use Teletrack or a similar credit agency to get your recent history with payday loans specifically. So if you have defaulted on a payday loan recently or have an outstanding payday loan, your application might get rejected.
However, payday loan lenders never make credit decisions off your credit history alone. Even if you have bad credit history, but you are currently employed and your next paycheck is around the corner, you might still be eligible for a cash advance.
Even though most lenders will run some sort of credit check, your bad credit history might not always prevent you from getting a payday loan.
If you are actively employed and your next paycheck is due in a few weeks, the loan lender might still approve your loan request and provide you with the cash you need.
The exact time and date you receive your money will depend on the lender we’ve matched you with and the time and day you apply.
If the lender we’ve matched you with provides same-day payday loans, and your loan application has been approved before the cut-off time, you can expect to get the cash by the end of the day. The cut-off time varies between lenders but is usually before 11:30 AM EST.
If your application is approved after the cut-off time or you apply on a weekend, you can expect the cash in your bank account the next business day.
Find a Payday Loan Lender Near You
If you prefer to apply for a payday loan in person instead of online, we’ve curated the most full and up-to-date list of local payday loan lenders near you. To find a lender nearby, find your state in the list below. Then choose your city from the list of available cities.