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      Frequently Asked Questions

      This page is meant to answer questions regarding payday loans and the services provided by PaydayLoanRadar.com. If you have additional questions not answered here regarding this service or the payday loan industry, contact us directly.

      What is a payday loan?

      A payday loan is a personal credit line provided to the borrower for as little as 1 week and up to 4 weeks. Payday loan options have a high approval rate because lenders secure this loan according to the borrower’s income. Many payday loan applicants are approved even with an imperfect credit report and may be able to get a payday loan relatively quickly. Payday loans are typically provided up to $1,000. The terms vary from state to state and your loan terms will depend on the regulations in your state.

      What do I need to get approved?

      The approval process for online payday loans is simple. Lenders require some basic personal information to determine whether to grant credit. Some qualifications for payday loans are:

      Lenders may request more information from applicants that may require additional paperwork to be completed, such as providing proof of income.

      Is the process safe?

      When you submit a request on PaydayLoanRadar.com, we process your information in order to match you with a loan provider. We use advanced security measures including data encryption to protect your privacy. Visit the Privacy Policy page for more information.

      When will I get the funds?

      In many cases, borrowers can get their money in as soon as one business day. Short-term loans are typically delivered quickly since the process can typically be completed online. Once you request a loan via the online form, it takes less than one (1) hour to match you to a lender. Then, the lender reviews the borrower’s application. As soon as the application is approved, the lender provides the loan agreement to you. If you receive a loan agreement, read through and understand the loan terms and make your decision to accept or reject the loan. If you choose to reject the offer, simply ignore any further processes. If you choose to accept the offer, you must e-sign the loan agreement. Once your e-signature is provided, it typically takes one (1) business day to receive the money in your account via direct deposit.

      Why do I need to contact the lender directly?

      PaydayLoanRadar.com provides a searching and matching service that gives users the opportunity to access and connect to reputable lenders and get good loan options. PaydayLoanRadar.com is not a lender and does not make any credit decisions. Therefore, we do not have access to information regarding specific loan offers or terms. Borrowers who have used PaydayLoanRadar.com and its services should contact lenders directly for more information on their loan contracts.

      I have bad credit. Will my application be approved?

      In many cases, bad credit or no credit will not solely cause your application to be denied. However, insufficient credit information or a low credit score may affect the dollar amount and terms of the loan offer. Processes vary from lender to lender. Some lenders will verify your credit with traditional credit bureaus, while other lenders may only check for bankruptcy or outstanding debts.

      Why do I need to renew a loan?

      In the event that a borrower cannot repay their loan(s) on time, a lender may allow borrowers to renew their loans. Renewing a loan can be expensive, as additional interest will be added to the loan. If you find yourself in this position, contact your lender as soon as possible to avoid penalties and additional charges. Please note, not all states permit renewals. Check the current status of payday loans and laws in your state to see if renewals are permitted in your state. For more information, see the Rates and Fees page on this website.

      How many loans can I take at a time?

      Each state regulates the number of loans that may be taken out simultaneously by a borrower as well as the cooling time terms. Lenders reserve the right to determine the maximum number of simultaneous or consecutive loan agreements within the limits of applicable laws. Before you sign any agreement, inform your lender of your current credit standing and confess any defaulted loans.

      What happens if I can’t pay my loan off on time or at all?

      Actions associated with delinquency vary. See your loan terms or agreement for your lender’s default payment terms and explanations of any applicable penalties, fees, collections, and/or other actions the lender may take. Be sure to read through these terms before signing a loan agreement. The lenders we connect you to via our website follow the industry’s best practices, abide by state and federal laws, and practice responsible lending. If you anticipate default payments, late payments, or delinquency, contact your lender as soon as possible.