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    Get The Payday Loan You Need. Fast.

    Frequently Asked Questions

    Welcome to GreenStarCash’s frequently asked questions. Here, you will find the answers to many typical questions about payday loans and our matching service. Have questions that aren’t answered here? Reach out to us with your inquiries and our team of loan experts will help you make the smartest, safest, and overall best decisions regarding payday loans.

    What is a Payday Loan? 

    Payday loans are financial lending agreements for relatively small amounts (up to $1,000). The terms last from 1-4 weeks dependent on state regulations and the rate at which the lendee is paid by their employer. This form of lending is known to have one of the highest acceptance rates due to the loan amount being secured by the borrower’s income. This can lead to loan approval for individuals with subpar credit scores and flawed repayment reputations. 

    What Do I Need to be Approved for a Payday Loan?

    There is an impressively low number of qualifications necessary for online payday loan approval. Qualification comes down to your income, age, and location, instead of your credit score or lending history. 

    Here are the basic requirements for payday lending:

    1. The applicant must be a legal US resident 
    2. The applicant must be 18 years of age or older
    3. The applicant must be gainfully and legally employed with access to a steady income stream
    4. The applicant must have an established bank account that can receive direct deposits

    Though these are the standard requirements, some lenders may ask for additional qualifying information. This could include proof of income or other supporting documents. In the event that a lender needs more information, you will need to take additional steps to secure your loan, which may mean scanning and emailing or faxing documents. 

    Are the Procedures Safe? 

    GreenStarCash uses encryption and safety protocols that lead the industry in user safety and protection. When you submit a request through GreenStarCash, we collect your data in order to locate a lender that matches your needs. The data is encrypted during this transmission and your privacy is highly protected. For more information on these safety procedures and the way we use your information, take a look at the [Privacy Policy] page. 

    How Long Does it Take?

    The financial product provided by GreenStarCash is fast and consistently available. The processing of data is done entirely online. Additionally, the service is available 24/7 for your convenience. The form to request a loan is short and takes only a few minutes to complete. Once completed, the processing of the loan and subsequent connection to a lender takes less than an hour. 

    Once a lender makes a decision on the loan and terms, a loan agreement will be provided to the applicant. The applicant can then read through the agreement and determine if they would like to accept or reject the loan offer. 

    To accept the loan offer, the applicant must digitally sign the agreement to create a legally binding contract with the lender. To reject the offer, the applicant can simply close the browser and ignore the offer. 

    If the applicant accepts the loan agreement and signs the contract, the funds will usually be directly deposited within one business day. This time-line can be shifted based on the ability of the applicant’s bank to process the direct deposit (holiday closings might prolong the wait time). The majority of applicants receive their funds within one business day. 

    Can an Applicant with Bad Credit be Approved? 

    The use of a credit check is determined by the lender. Some of the lenders we work with will perform credit verification through traditional credit bureaus. Alternatively, they may simply check to ensure the applicant has not filed for bankruptcy or has current outstanding debts with other loan providers. Typically, payday lenders do not turn down an application based on bad credit or a lack of credit history. Instead, they focus on provable and consistent income. Bad credit and lack of credit may influence the terms of the loan, but that is dependent on lender preference. 

    Why Would an Applicant Need to Directly Contact the Lender?

    GreenStarCash is not a lending service but a service that matches applicants with lenders. This helps applicants find reputable lending services and get the best loan options for them. Because we don’t have access to the terms of the loans, specifics of services, or other information that varies by lender, the applicant may need to contact the lender directly. If the borrower has questions or concerns regarding their loan contract, the lender can provide answers. 

    Why Would a Borrower Need to Renew a Loan? 

    Occasionally, a borrower may realize they are unable to make a loan payment on time. In these circumstances, some lenders will allow the borrower to renew their loan, which adds to the total interest paid at the end of the contract. This costs the borrower more over time, but it can save them costly penalties for non-payment and helps avoid loans being sent to collections. This option is not available in all states or with all lenders. For more information regarding payday lending fees and how state laws can affect them, check out the [Rates and Fees] page. 

    What Happens if a Borrower Can’t Make their Payment on Time or At All?

    If a borrower defaults on a payment, the penalties and fees laid out in their loan agreement may be applicable. Borrowers should always read through the terms of their loan before signing a legally binding agreement. The lenders in GreenStarCash’s network follow the best practices standards of the payday lending industry and also strictly follow state and federal laws. These responsible lending practices can change how lenders handle defaulted payments. If a borrower fears they will miss a payment, it is recommended that they reach out to their lender before the payment is missed. 

    How Many Loans Can a Borrower Take out at Once?

    State laws determine the ability to stack loans, as well as any “cooling time” required between loan terms. While some states do not have any regulations regarding these things, others have extensive cooling off periods and strict limits on the number of loans that can be taken out simultaneously. Lenders can also make decisions on loan approval based on what they feel are too many loans for a single lendee, but they must still practice within local and federal laws.