Payday Loans Payday Loans
A payday loan is a small, unsecured short-term cash advance. These loans are usually $100 to $500 loans having a 14-day maturity designed to coincide with the customer's next payday. Customers pay a one-time flat fee, which varies according to state law, but is generally $15 to $20 per $100 borrowed. A payday loan customer typically:
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reads and signs an agreement that discloses the transaction terms;
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writes a personal check for the loan amount plus a fee; and
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immediately receives the loan proceeds, usually paid in cash, in the amount of the check minus the fee.
In return, we agree to defer deposit of the check. If the customer repays the loan, generally within two weeks, the check is returned to the customer. Otherwise, the check is presented for payment at the customer's bank.
More detailed information about the required documentation is located here, including an application that you can print, complete and present to one of our customer service representatives at any of our more than 300 locations (see map).
Before visiting our stores to get a payday loan, consider these steps:
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Evaluate all of the alternatives to satisfy your short-term cash needs.
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Carefully determine the amount of cash required to meet your short-term needs.
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Only borrow the amount needed to satisfy these short-term needs.
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Further limit the amount you borrow to what you can repay by your next pay period.
HOW IT WORKS
Payday Loans