How It Works

Obtaining a payday loan is simple. We'll explain the process and the requirements in more detail here.

About Payday Loans

Payday loans are short-term loans intended to smooth out gaps in cash flow until your next paycheck. Such loans are secured against your next paycheck and will usually be withdrawn from your bank account automatically when your paycheck is deposited (varies by lender). A payday loan is meant to be a short-term solution when you have emergency expenses but are short on cash. Payday advances are ideal for urgent, relatively small expenses that you can't wait until payday to take care of. For the convenience of borrowing, most I Love Payday Loans lenders will assess a finance charge that will vary by lender. Usually, the finance charge is a percentage of the amount you borrow. For instance, you might pay a $15 finance charge for every $100 you borrow.

Who Qualifies for a Payday Loan

I Love Payday Loans works with lenders with very simple, very straightforward qualification requirements. Keep in mind that these requirements will vary by lender. Most lenders tend to require that you:

• Are at least 18 years old
• Have U.S. citizenship
• Are employed and making at least $1,000 per month
• Have an active bank account (checking or savings)
• Have direct deposit enabled on your bank account

The Process

I Love Payday Loans has a diverse network of lenders, all which handle the borrowing process in different ways. The following information is just a general guide on how the payday lending process typically works. Keep in mind that this will vary by lender.

1. Sign up online. The first step to getting the funds you need is completing our sign-up form. All you have to do is provide some basic contact information. The form only takes a few minutes to fill out.
2. Get matched with one of our lenders. Based on the information you provide I Love Payday Loans, we'll find you a lender that can meet your borrowing needs. At this point, we'll usually refer you to the lender's website for more information.
3. Visit the lender's website. Once we provide you with the free referral, our work is done. Now, if you're ready to get your payday loan, you can visit your lender's site, ask the questions you have, and apply online (varies by lender). The majority of our lenders provide free online applications that take only two or three minutes to complete (varies by lender).