A Payday Loan (also called a paycheck advance or payday advance) is a small, short-term loan that is intended to cover your expenses until your next payday. Typical loans are between $100 and $500 and are due in two weeks. The loans are also sometimes referred to as cash advances, though that term can also refer to cash provided against a prearranged line of credit such as a credit card.

Legislation regarding payday loans varies widely between different countries and, within the USA, between different states. Some jurisdictions impose strict usury limits, limiting the APR that any lender, including payday lenders, can charge; some outlaw payday lending entirely; and some have very few restrictions on payday lenders.

Typical loans are between $100 and $1500, on a two-week term and have interest rates vary from different financial firms.

What is the Process for Applyting for a Payday Loan?

Typically, you will have to fill out an online application form or faxes a completed application form that requests the following information:

• Personal information
• Bank account numbers
• Social Security number
• Employer information.