What is a Payday Loan?
A payday loan is a small loan, typically between $100-$1000, that is used to help a borrower's unexpected expenses such as bill payments, car repairs, household emergency repairs or other financial emergencies. Payday loans can be a great short-term source of emergency cash, but need to be repaid when the next paycheck arrives. Payday loans are therefore often referred to as Cash Advance Loans.
How does it Work?
1-hour-cashs-advance.com is a lending network, NOT a direct lender. All repayment terms and associated dealings are between you and the lender. Every lender in our network has different loan terms such as the loan amount, the APR of the loan and repayment schedules. For more information, please visit our how it works page of this site.
How much can I borrow?
Lenders supply borrowers with any amount of $100 - $1000. How much money you can borrow exactly, however, depends on a few factors such as the lender we match you with, your income and employment history. Lenders may provide up to $1000 and once approved, and money is wired straight into your bank account.
How do I qualify for a loan?
1. Most lenders will qualify you for a loan if you:
2. Have a job or receive regular income.
3. Earn at least $800 per month.
4. Are a U.S. resident at least 18 years old.
5. Have a bank account in good standing.
Prior bankruptcy, a poor credit history or charge-offs do not automatically disqualify you - you may still apply for a loan.
How much will the loan cost?
The cost of the loan and APR depends on information in your application. The terms are disclosed in the application process when you are directed to the lender's loan agreement. If, when the terms are disclosed, they are not acceptable to you, do not sign the application. At this point you have NOT accepted the loan. You may use our APR calculator to estimate the range of APRs you may receive from lenders in our network.
What happens if I'm late with my payment or don't pay at all?
Additional fees will more than likely occur in the event of a late or partial payment. Failure to pay will result in legal action, as well as reporting of the non-payment to a consumer reporting agency.
What is your renewal policy?
Renewal policies are determined by the lender, not by 1-hour-cashs-advance, and therefore they will vary. But, be aware some lenders may not debit your account for the full amount of the loan, which may result in additional fees and a renewed loan. Make sure you read the renewal policy carefully and make your wishes clear to the lender.
Do I need to fax documents as part of the application?
In most cases no. However, if data provided is inconclusive or seems false, lenders may ask for additional documentation to be faxed.
Can I have multiple loans at a time?
Payday Loans are intended to be a short-term relief to financial hardship only such as emergencies that require a one-off cash loan. Payday Loans are not a long-term solution to cash flow problems. Hence we highly recommend you do not take out multiple payday loans at once.