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While no such thing as an instant approval payday loan exists, we have the next best thing. The payday loan process usually takes up to 48 hours, depending on your lender. How fast will I receive my funds? To be qualified for a quick installment loan, our customers must be at least 18 years old, make a minimum of $1,200 in guaranteed monthly income, have an active checking account in good standing and have a phone number and email account. You must be employed at least last 3 months and receive a steady income.
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Like any other Payday Loan, a 24-Hour Payday Loan is an advance on your pay. Usually the time frame for paying off the loan is until your next pay check or 14 days. It is not a problem for you to request a longer repayment time frame, usually 21 or 28 days. In longer term loans, fees can be higher though. If it is at the end of the agreed time frame and the loan is not repaid, most lenders will accept an extension of the loan. A new fee is charged for every new period. Some lenders automatically extend the loan and only withdraw the fee at the end of every period, until the customer arranges installments for paying back the loan. The lender will look at your average-income when you make an application for this kind of credit. I your company. Your fees are upfront and reasonable, plus you are easy to get a hold of. You are so transparent. I it! However, to be eligible to procure loan you have to be a permanent resident of the United States. You should be an employed person with a steady source of monthly income. Moreover, you should have crossed eighteen years of age and should also be a valid checking account holder.
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APR – Representative Range Explanation Spot Loan Application Lenders make money from these loans by charging interest. Every time you make a loan payment, part of that loan payment goes to the lender, and part of the payment goes towards the balance of your loan. Lenders will always charge a higher interest for these types of loans, but in times of financial crisis, you may not have any other choice.
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