What exactly is a payday loan?

A payday loan online is a short-term form of credit that can get you cash quickly, no matter whether you have good credit or even if you have bad credit or a low income. Traditionally, these payday advance loans had to be repaid in one lump sum on the borrower’s next payday. Now, you can also find lenders extending “payday loans” with terms as long as six months. Rules differ from state to state.

Because of their speed and lax requirements, instant payday loans typically have a higher APR than other personal loans or credit cards. And because they are regulated at a state level, you’ll find that payday loan interest rates, terms and laws vary, depending on where you live.

Beware of online providers and companies claiming they provide instant or same day payday loans in as little as 3 minutes. These are usually scam filled online companies who are over promising and typically under deliver. Also beware of anyone who requests you send money to them first. If they are a legitimate online provider of lending, you will never have to do this. Typical lender approvals through our nationwide partner network happens in minutes, and funding happens through direct deposit with-in 24-48 hours.

How are payday loans online different from other types of credit?

Shorter loan term. This type of lending is specifically dedicated for short term solutions. Paycheck advance loans are designed to be short-term solutions to financial shortfalls. You generally won’t find a loan that extends beyond six months, although terms differ by state.

Accepting of good and poor credit. Payday advance lenders often do not conduct a credit check, though you need to provide proof that you can repay the loan — prove a steady income (Pay Stubs), and have a bank account in good standing.

Higher rates and fees. High-risk unsecured lending for emergency situations. Due to their short-term nature and accessibility, payday loans across the board come with much higher APR’s than other forms of credit. Most states regulate how high these APR’s can be, but some are still very steep when compared with other types of credit. Be sure to take into account the full cost before you apply.

Smaller loan amounts. Again, how much you can borrow depends on the state you’re in, but you can typically borrow between $100 and $1,000. With our nationwide partner network, loan availability is available in 44 states.

Why Choose a payday loan from OnlineCash4Payday?

For more than a decade, OnlineCash4Payday.com has been helping to connect consumers with competitive quick advance online lending options. We offer the highest funding amounts available.

Trusted Online

Online lenders alliance does great work helping to maintain a competitive and user friendly online lending environment for lenders as well as consumers. Unscrupulous lenders and online fraud is not tolerated and the OLA and the CFPB together are making the online lending world more favorable everyday.

How Our Application Process Works

At OnlineCash4Payday.com, we help to provide instant payday loans online up to $1,000 and we have streamlined our application process with our partner lenders so you can receive your funds in 24-48 hours or less once approved. Start with our secure form to the right of our company site and have an answer in minutes.

Consumer Education & Awareness

OnlineCash4Payday.com encourages applicants to handle online payday loans responsibly, and we help to provide lending articles and best personal practice budgeting ideas to help combat recurring debt habits.. Review these consumer tips before applying for a payday loan online to be sure you are making an informed decision.

What can I use my payday loan for?

Though instant payday loans can be used for a wide range of purposes, they’re generally designed to cover unexpected expenses. Common uses for payday loans include medical expenses, car repairs, unexpected life circumstances, lost or forgotten bills, or any other incidentals that may come up from time to time. You shouldn’t use payday loans to fix long-term issues.

Positives of payday loans

Convenient online application. You no longer need to visit a lender in person to deal with complicated applications for a payday loan. Complete your paperwork online and sign the documents electronically.

Fast turnaround time for quick payday loans. Applications usually take minutes, and you can find out if you’re approved soon after. Depending on how you receive your funds, you may be able to receive your money within a day.

Receive an account deposit or pick up cash. Many payday lenders offer both online and brick-and-mortar storefronts. With us, you have the option of applying online and then receiving your funds into your checking account as soon as the next business day.

No collateral required. Short-term loans are usually unsecured, so you don’t have to worry about putting up any asset to secure the loan.


Negatives of payday loans

High costs. Payday loans are notorious for their high APRs — 300% or more, depending on how much you borrow and your repayment terms. Make sure you understand the costs associated with the loan you take on.

Nonreputable lenders. Some payday lenders operate online to get around state regulations put in place to protect consumers. Make sure the lender you’re applying with is trustworthy, and verify with your state banking regulator or attorney general that they’re operating legally.

Easy to fall into debt. Borrow modestly by repaying responsibly. Make sure you don’t take on a loan you can’t afford. With payday loans, you often need to repay the entire loan amount on your next payday. Confirm that you’ll have sufficient funds left over to budget for the rest of that pay period.

Payday loans differ from other lenders in their application process and criteria. You typically can apply for a payday loan online and get a response quickly. To be approved for a payday loan, you’ll need meet the lender’s eligibility criteria and provide documentation.

Eligibility criteria

You are at least 18 years old and reside in a state where payday loans online are available.

You earn a minimum income — around $200 a week is typically required.

You have a job with steady paycheck income (or benefits).

You get paid by bank deposit (not in cash) daily, weekly or monthly. Can show paystubs for employment.

Application checklist

Though required documents differ by lender, you’ll generally need to provide:


  • Government-issued ID and a Social Security number, alien registration number or Individual Taxpayer Identification Number.
  • Personal contact information, such as your address and phone number.
  • Evidence of your income. Employer information
  • Details of your checking account. Account number will be required.
  • Your bank’s routing number — a nine-digit number at the bottom of your checks.

Does a Payday Loan Affect Your Credit Score?

It is essential to note that most lenders do not check the credit history of the borrower and they do not report payments as either. Although a credit bureau from the 3 major credit bureaus (Transunion, Equifax, Experian) may be pulled, typically lenders will use other forms of background checks beforehand. Payday loans and quick cash advances are typically not reported to the credit bureaus unless you default. Personal loans and Installment loan options are made for larger amount with longer terms and they do typically report these types of loans to the credit bureaus. We offer these as well. All you have to do is select an amount above $1,000 and start the process.