Payday Loans - Frequently Asked Questions


 
What is a Payday Loan?
A Payday loan is a short-term cash advance that is generally deposited directly into your bank account. The loan amounts are usually between $100 and $1,000, and the terms are much shorter than a standard loan. They can average from four to ninety days from the loan date to the repayment date.

Can anyone apply for a payday loan?
You should be 18+ years of age, a U.S. resident, receive $1,000 a month or more through employment, benefits or a combination of the two, and have an open checking or savings account.

Can I Apply by Phone?
Yes, you can apply by telephone. Contact us by phone or apply by Telephone - We're here to help. Our Customer Service Department is available 9:00 AM to 5:00 PM EST to answer any questions you may have by phone at (218) 625-8750.

For the most secure application process, please complete the application process online. Our online process allows you to securely and correctly enter your personal information. Providing information by phone leaves a margin of error for your information to be entered incorrectly. Get Paired Now

That said, We do have an application by telephone available 24 hours a day, seven days a week. This number is only for applying for a loan and starts with an automated process which is then continued by a live person. This number is (866) 209-5583

If I’m approved, how soon can I receive my funds?
Funds can be received by you in anywhere from 1-24 business hours. This depends on the time of day, your bank’s policies, and the lender’s policies.

What kind of information do I need to apply for a payday loan?
You will need your Drivers License or State ID card information, banking information (account and routing numbers), social security number, income information (address, length of employment, phone number etc…), and if you receive benefits instead of employment you will need that information.

Is my loan confidential?
Yes, the loan that you accept is strictly confidential.

Can I apply for more than one payday loan at a time?
Yes, you can apply for more than one at a time. However, some states regulate the number of active loans that you can have at one time. It can also make it slightly harder to be approved if you have more than one open loan. We recommend waiting to see if your application has been accepted with your preferred loan source, and waiting at least 24 business hours between applications. Payday loans and cash advances should be used for short-term financial needs only, not as a long-term financial solution. Consumers with credit difficulties should consider seeking credit counseling.

What is the maximum amount of money that I can borrow?
The loan amounts from our loan sources range anywhere from $100 to $1,000. The maximum amount that you can borrow depends on the lender you are paired with, whether you have any other payday loans or cash advances, and the regulations of the state that you live in. Probably the most important factor in how much you can borrow is how much you can afford to repay.

How will I know that I have been approved for my cash advance or payday loan?
The loan source that you have selected will let you know if you have been approved, generally right on line. This is also why you need to make sure that you list accurate information, like your phone number and email address. They will give you your loan’s terms and conditions prior to your acceptance of the loan.

What are the terms and fees for a payday loan or cash advance?
We Give Loans is not a lender, and cannot predict the exact fees and interest of the loan option(s) presented to you. If approved for a loan, your lender will present you with the exact fees and interest rate of your loan prior to your acceptance of the loan. You are under no obligation to accept the terms presented to you by the lender.

How do I repay my payday loan or cash advance?
This will be discussed in the terms and conditions of the loan agreement with the lender. The most common repayment method is through an ACH withdrawal from your bank account.

When do I need to repay my payday loan?
Generally on your next pay date. Sometimes on the pay date that follows your next pay date. This will be listed in the loan agreement that you sign before you accept the loan from the lender. In most cases, a payday loan is a four to thirty-five day loan, but there are exceptions.

Can I pay the loan off early?
Generally, yes. The terms of the loan agreement will cover the payment schedule, and if it can be paid off early.

What if I can’t repay my payday loan on time?
We Give Loans recommends that you repay the loan on time and in full in order to avoid any kind of late payment and/or non-payment fees. If you think you’ll be unable to pay off a payday loan, we suggest that you explore other loan options before applying for a payday loan.

What if I change my mind about the payday loan after I’ve been approved?
Generally, you have the right to rescind and return the funds in full within 24 business hours of receiving the loan. Please see your loan terms prior to accepting the loan disclosed by your lender to find out their specific policy on this.

Can I be denied for a loan?
Yes. Residents of some states may not be eligible for some or all of the loan programs offered on this website. We cannot guarantee filling out our short form or Lender Application will result in you being paired with a loan source or loan.

Who do I contact if I have questions about my payday loan once I’ve been approved?
Once you have been approved for a loan, any questions will need to be directed to the lender. Look over the terms and conditions and be sure to get the lenders contact information before you agree to the loan.

How many payday loan sources does We Give Loans work with?
Currently our network provides access to well over loan sources.

Is there a list of your lenders that I can choose from?
We have a secure, short form that you can fill out to narrow the list of lenders so that you are given a selection of the ones that best fit your individual circumstances.

I am ready to apply for a payday loan! Where do I go?
Right here. Apply for a payday loan