A: There are a few universal criteria you will need to meet in order to be approved for your loan

Depending on which lender you choose to get your loan from, the approval criteria may vary somewhat. Taking some time to read the terms and conditions section of the lender’s web site should be able to answer those questions for you. However, there are a few basic requirements that you must meet, no matter which lender you apply to get your loan from, in order to be approved for a payday loan. There are three basic criteria that you must meet in order to be approved for a payday loan:

Age – You must be over the age of 18.

Employment – you must be employed and have a steady flow of income. Lenders will not approve your application if they know that you will be unable to make your loan payments on time.

Checking Account – Most payday loan lenders will require that you have an open, active checking account. This is because most lenders will want to transfer your loan into your account electronically. This will ensure the fastest delivery of your loan money, and when your loan comes to term the lender can take your repayment straight out of your account.

Some lenders will also ask that you fax in documents to prove your employment status and income to ensure that you will be able to repay your loan. However, there are lots of lenders that do not require you to fax anything to them. A simple internet search will allow you to find no fax lenders.

If you do not meet these requirements, you might want to explore your alternatives to a
payday loan.