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How It Works?

What do I need to qualify for a payday loan?

If you are interested in instant payday loans, please read the below eligibility criteria before applying for them:

  • Your age must be at least 18 years or above,
  • Must have a valid source of income or government benefits,
  • US citizenship or permanent residence,
  • Having a valid and active bank account to get money and,
  • Must have a valid phone number and email id to get in touch and update.

How to apply for a payday loans online?

At Paydayapr.com, you get easy to understand, fast, and online application form to apply for online payday loans. Our lenders have enough lending experience and that’s why they take very little time to review and approve the loan application. Let’s check below how it works:

  • Application: Fill out our simple and short application form with your full valid details and submit it.
  • Accept Conditions: The lender will provide you with the loan agreement, read it carefully and accept the loan terms.
  • Get Funds: Once you thoroughly read and sign your loan agreement, your money will be directly deposited into your bank account ASAP. Some borrowers claim to get their loan money within 5-10 minutes from us.
  • Loan Repayment: When you get your next paycheck, pay off your loan on the due date. Keep in mind that repaying your payday loans on time can boost your credit score.

Top 5 Advantages of Short-Term Loans

Payday loans are the best example of short-term loans. These loans are small amount loans and are paid back quickly unlike long-term loans. Short-term loans are often used to meet cash emergencies, especially unplanned expenses. Below we show you some benefits of short term loans:

  • Instant Approved: As we know that short-term loans online are designed to cover financial emergencies. It means that you want cash as soon as possible, without waiting too long for loan approval. You can apply for short-term loans online without indulging yourself in lengthy paperwork. This makes loan approval fast and you will get your money within 10-15 minutes.
  • Low-Interest Rates: It is a simple rule, the longer you borrow the money, the more you have to pay the interest. With short-term loans, you borrow money for a shorter period, which means you pay less interest as compared to long-term loans.
  • Increase Credit Rating: Yes, short-term loans indeed help to boost the credit score. As long as you pay back your loan on the due date, it reflects on your credit score as a good sign. It also shows you as a trusted borrower in front of lenders.
  • No Collateral Needed: As you borrow the money for a shorter period, the lender does not force you to submit security against your loan. The smaller amount you borrow, the lesser risk and pressure you get.
  • Much Flexible: When you search over the Internet, you see lots of short-term loan options. Some lenders offer short-term loans according to applicant needs. You can choose the loan amount, repayment time, and many other options as per your requirements. Shor-term loans mean no long-term commitments and no tension of loan repayments.