Learn what you need to get a payday loan, including any information, documents, or requirements for this loan.
Unexpected expenses can happen to us all. We do our best to budget, but sometimes sudden expenses still come up.
It can be difficult when your payday is a week or two away and you need money from that paycheck now.
When you need money fast, payday loans can be a helpful option to get you quick funds from your next paycheck sooner rather than later. Let’s go over the things you need to get a payday loan so you are prepared if you decide to apply.
What Do I Need to Get a Payday Loan?
If you want to get this loan, then you first need to ask yourself, what do I need for a payday loan? To get a payday loan, you need to meet a few basic qualifications and requirements.
There are basic requirements like being at least 18 years old or older but other things you might need will depend on the lender.
Payday Loan Requirements
Like any other loan, payday loans have requirements for applicants looking to borrow money. Some of these requirements will depend on the specific lender you choose or which state you live in, as well.
For example, some lenders won’t approve your application if you are a member of the military or if you’re a dependent of someone in the military. Lenders might also not approve your application if you already have a loan out with someone else or if your total debt is over a certain limit.
Here are some basic payday loan requirements:
- Be at least 18 years old or older.
- Be a resident of the state where you are applying online.
- Provide a valid form of government-issued identification like a Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN).
- Provide a valid and active personal email address.
- Provide a valid and active personal phone number.
- Provide proof of income like a bank statement or paycheck stubs.
Requirements to Apply Online
We went over some general basic requirements, but what if you’re applying online? You might need to meet a few other requirements in order to apply for this type of loan online..
- Provide proof of an active personal bank account.
- Bank account routing number.
Online payday loans will need a valid and secure way to transfer money into your account online. So you may need to provide information like proof of an active bank account and routing information for direct deposit.
Requirements to Apply In-Person
If you apply for a personal loan in person, at a store location, then you might come across some of the same requirements we’ve already outlined. But because you are applying in a store and not online, you might also be required to fill out new customer paperwork.
- New customer paperwork
How to Get a Payday Loan
Getting a payday loan can be a simple and easy process. All you need to do is find the lender you want to use and submit an application.
Step 1: Fill out the application online or in a store.
Step 2: The lender will review your application and decide to approve or deny your application.
Step 3: If approved, you'll sign the loan agreement and funds will be deposited into your bank account the following business day.
Your application will probably require your personal information like your name, phone number, email, a form of ID, and possibly documentation like a paystub or bank statement.
What If I Need to Get a Payday Loan Immediately?
If you need to get a payday loan immediately, then there are a few things you can do. First, you want to find a lender that can offer a fast application and approval process.
Then, you want to make sure you apply with all of the correct information so that your application can be processed as quickly as possible.
If all goes smoothly, a fast lender can get you funds as soon as that same day! Check City offers fast payday loans to help you when you need money now.