FAQs

A payday loan is a small, short-term, no-collateral cash advance, typically under $1,000. It's backed by future income, such as your next paycheck or another form of regular income. The loan term is usually 30 days or less and is intended for emergencies.

If you find yourself relying on payday loans for regular expenses, you may want to explore credit counseling, debt-management services, or other assistance. Nonprofit agencies can offer support for managing excessive debt. Use payday loans responsibly.

Applying for a loan thrugh USA Loan Today is free. We are compensated by independent third-party lenders for customer referrals. Each lender has its own fees, APR, and terms, which will be disclosed at the time of the loan offer. These charges come directly from the lender, not from USA Loan Today.

You are under no obligation to accept the offer. Your loan is finalized when you electronically sign the offer and return it to the lender. Always review the loan terms and conditions carefully.

Payday loans typically range from $100 to $1,000. Installment loans are between $100 and $5,000, while personal loans can range from $500 to $35,000. You will request a loan amount, but the offer you receive may differ based on factors like the lender, your employment, income, and other conditions.

Approval is not guaranteed. Each of our participating lenders makes independent decisions based on their criteria.

Individual third-party lenders may have different criteria, but these are the typical minimum requirements:

• Be at least 18 years old
• Have a checking or savings account with direct deposit
• Have a regular monthly income of at least $1,000
• Have a fair credit rating (for personal loans only)
• Must not be a regular or reserve member of the Air Force, Army, Coast Guard, Marine Corps, or Navy (or a dependent thereof) serving on active duty under a call or order of 30 days or less

Your loan funds could be deposited into your bank account as early as the next business day, though the exact time varies depending on your lender and financial institution. If you have questions about the transfer time, contact your lender.

From the moment you apply through USA Loan Today and receive an offer from a third-party lender, the process can be as quick as one business day. Factors such as registration timing, accuracy, lender processing, and your bank's policies can affect the timing.

USA Loan Today is not a lender. Each independent third-party lender has its own terms and conditions, including repayment schedules. You should contact your lender for details about repayment dates and deadlines as specified in your loan agreement.

Penalties for late or missed payments vary by lender, so be sure to confirm the details before accepting a loan offer. Many consumers face issues by not fully understanding the penalties for non-payment or late payment. Make sure you're aware of the consequences if you cannot repay the loan in full by the due date.

Typical consequences for non-payment may include:

• Late fees being added to your loan balance
• Your account being sent to a collection agency
• A report of non-payment to a credit bureau, which may lower your credit score
• An offer to renew your loan, which will result in additional fees and interest

USA Loan Today is not a lender. You should contact your lender directly to understand the penalties and options if you are unable to repay your loan.

Whether your loan is automatically renewed depends on both your state's laws and the lender's policies. Be sure to ask your lender if your loan will automatically renew or if they require your permission first.

Renewing your loan typically adds fees and interest to your balance, so it's important to understand these costs before agreeing to a renewal.

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Many lenders will perform a credit check to verify the information you've provided or to compare it against national databases. They may verify your social security number, driver's license number, banking details, or other personal information.

Multiple inquiries to the major credit bureaus (Experian, Equifax, and TransUnion) can potentially lower your credit score. To minimize this impact, consider applying for one loan at a time.