PayDay & Cash Advance Loans Online ? How Do Online Payday Loans Work?

How online payday loans or cash advance loans work? Online payday loans usually work by first filling out a pre-approval application. 90% of the time, your credit is not pulled. Most payday loans are not based on your credit history, so, even if you have bad credit you are still welcome to apply. If having your credit pulled is a concern to you, check their FAQ's page, that will usually tell you whether or not your credit will be pulled.

After you have filled out the initial application, you should receive a response on whether you are pre-approved or not. Responses vary, but most online payday loan companies will give you a response instantly. By clicking on the link below, you can view our list of recommended payday loan companies and we will tell you which ones can give you a 30-second approval.

If you are pre-approved, they will usually ask for some kind of income verification. Some online payday loan companies require you to fax them a pay stub and/or a bank statement. They sometimes want to verify that you have a valid phone number and email address. There are other companies who are "faxless" who help you get the loan processed without you having to fax in any verification. These loans usually verify income by telephone.

Once you have completed the companies quick verification process, you will usually receive a direct deposit into your bank account the next business day. Most online payday loan companies will deposit the money into your account within 24 hours.

Make sure, when you get a payday loan, that you are using the payday loan for the shortest amount of time possible and get the lowest cash amount you can get by with. This will help you keep your fees to a minimum.

If you would like to view our list of recommended, reputable payday loan companies, click here: Recommended Payday Loan Companies

Carrie Reeder is the owner of ABC Loan Guide. ABC Loan guide is an informational website with articles on loans and it also has lists of recommended lenders and loan services.

---

Traditional Banks Vs Online Loan Companies

In recent years obtaining loans online has become a new... Read More

Christmas Loans ? A Gift on the Occasion of Christmas

It is still a few weeks to Christmas and every... Read More

A Secured Loan Could Save You Money

What is a Secured Loan?A secured loan is any loan... Read More

Loans - Good or Bad Debt?

When borrowing money it is usually because we lack the... Read More

No Faxing Cash Advance Loans - 3 Reasons to Use A No Fax Payday Loan Company

No fax payday loan companies save you time with your... Read More

The Best Day of The Week For Payday Loans

Whether your payday arrives every Friday or every other Friday,... Read More

Guide to Bad Credit Loans

Here is a useful guide to Bad Credit loans. Bad... Read More

Guide to Secured Loans

Here is a useful guide to secured loans. A secured... Read More

What is a Bad Credit Personal Loan?

A UK Bad Credit Personal Loan is a loan designed... Read More

How to Find a Good UK Secured Homeowner Loan

If you're looking for a UK secured homeowner loan, you... Read More

Guide to Homeowner Loans

Here is a useful guide to Homeowner Loans. A Homeowner... Read More

Car Finance Places You On The Top Gear While Buying A Car

Fast car on open roads. It is a perfect picture... Read More

Cant Wait For Payday? Try Check Advance

Check advance can come in really handy when you're waiting... Read More

Shopping for a Secured Personal Loan

If you find yourself looking for a loan, you'll likely... Read More

Small Business Loans Can Help You Write Your Success Story

Scene one: you are sitting on your office desk surrounded... Read More

PayDay Cash Advance Loans - The Benefits of Using the Payment Protection Plan

Payment protection plans are offered by payday companies to protect... Read More

UK Student Loans Explained

Student loans seem to be the only feasible way out... Read More

All About Bad Credit Secured Loans

Bad credit secured loans are a relatively recent addition to... Read More

A Brief History of Loans

No one can say for certain where the history of... Read More

Loan Options for College Students

You just finished high school and realize you have two... Read More

Bad, Credit, Student, Loans - Disjointed They Don?t Make Sense - Join Them and See the Possibilities

The day you stop learning is the day when you... Read More

Bridging Loans - Fulfilling Financial Shortfall between Real Estate Transactions

You are trying to buy a new property and selling... Read More

Holiday Personal Loans ? When the Traveller Within You Wants to Break Free

If you are a traveller by heart then perhaps every... Read More

A Guide to Common Loan Terms

Many people may wonder about common loan terms? words and... Read More

A Guide to Finding Inexpensive Direct Loans

For those individuals who are looking for fast and inexpensive... Read More

No Money Down Loans

You want to buy a home but you do not... Read More

Secured Loans ? Filling the Void Created by the Deficiency of Resources

"Money is like a sixth sense without which you cannot... Read More

No Credit Check Payday Cash Advance Loan - Benefits to Using a Payday Loan

No Credit Check Payday Cash Advance Loan - Benefits to... Read More

Meeting the Balance of Agricultural Financing

Agriculture loan guaranteesFor better understanding of the agricultural loan guarantee... Read More

Do You Qualify for a Loan?

Like most people, you will probably wait until submitting a... Read More

Zero Zero Financing on Automobiles in Retrospect

Some say that the automobile industry saved the economy during... Read More

Personal Loans and Lines of Credit

Personal LoansNormally, a personal loan is unsecured meaning there is... Read More

What Type of Loan Do You Need?

There are many types of loans available to consumers. There... Read More