Payday loans are a commonly discussed topic. Yet there remains much ambiguity and misinformation regarding payday loans - both online and in people's minds. They say that the best way to make use of a product is to know more about it. Here, we share information about payday loans in the interest of consumer awareness and transparency. We have answered some questions that customers have asked us or searched about, which are not covered in our FAQ section.

Which Payday Loans will Accept Me?

Many direct lender accept a broad variety of borrowers. Legitimate direct lenders of payday loans typically have simple, but clearly defined eligibility criteria.

At CapitalPaydayLoan, we accept borrowers who qualify these conditions:

  • Have an SSN and are a permanent resident or citizen of the US
  • Reside in a state where payday loans are permitted
  • Share valid contact details
  • Are aged 18 years or above
  • Have an active bank account in the US
  • Have a proof of consistent income of $1,000 per month or more.

If you're able to provide adequate information and documentation to support the above, you can get a loan from us irrespective of your credit history.

How quickly can I get a Payday Loan?

Payday loans from CapitalPaydayLoan are quick - both parts of our lending process i.e. approval and credit are prioritized to ensure prompt services. Provided that your loan application is complete and all provided details and documents are easily verifiable, we credit loans typically in a single business day. The loan process however, consists of many parts and in certain cases, delays may be caused by one or more such processes, for example, a soft credit inquiry, a document verification, an income verification, delay from your end in accepting our loan offer, delays in external communication and delays in bank transactions.

What if I Need an Installment Loan instead?

If you need a loan with more flexibility in repayment terms than a payday loan, this can be conveyed at the time that we contact you after you submit the loan application. We also provide installment loans which can be paid monthly or bi-monthly. Such loans may also be available for bad credit borrowers.

How much does a Payday Loan Cost?

We have a dedicated page which explains the charges applicable on our payday loans. You can find the payday loan fees page here.

What Can I use a Payday Loan for?

Payday loans are short term personal loans. These can be sued for any reason. Most borrowers use payday loans for:

  • Medical emergency expenses
  • Vehicle repairs
  • Home repairs
  • Unforeseen expenses
  • Utility bills
  • Meeting difficult due dates

What are the Dangers associated with Payday Loans?

Payday loans are designed to be quick, convenient and available to a vast number of borrowers. Ensuring this however, may require overlooking certain measures that make loans safe. Also, payday loans are expensive and they are intended only to be a short-term financial solution.

Other dangers associated with payday loans may be associated with fraudulent lenders and unfair practices by lenders. Many legislations protect borrowers from such issues.

Please read through the link in the following section, to enhance the safety of your experience with payday loans.

How can I be Safe while taking a Payday Loan?

At CapitalPaydayLoan, we take consumer safety seriously. Kindly proceed to the Payday Loan Safety page for further information on this topic.

Which Payday Loan Organization can be Trusted?

Payday loan organizations that are operating in the industry since years and have a reputation amongst the customers, are likely to serve you well. When choosing to take a payday loan, looking for a trusted organization like CapitalPaydayLoan is indeed important. In the link we shared within the previous section, the section of "Legitimate Online Payday Loans" explains ways to identify a trustworthy payday lender.

Can I get Small Payday Loans Online with No Credit Check?

CapitalPaydayLoan offers flexibility in the amount that you wish to borrow. You can even apply for a loan as small as $100.

Who will give me a Loan when No One Else will?

Whether you have faced rejection once or multiple number of times, we shall consider your loan application without any impact of that factor. As long as you meet our loan eligibility requirements as discussed in a previous section, we shall offer you a loan of an amount that our loan affordability assessment estimates as likely to be safe for you to repay.

What does Guaranteed Loan Approval really mean?

As mentioned above, we approve loan applications provided you meet our loan eligibility requirements as discussed in a previous section. If you meet all our eligibility requirements and apply for a loan amount that our loan affordability assessment estimates as likely to be safe for you to repay, we guarantee that your loan shall be approved subject to the successful verification of the details and documents provided to us.

How do Online Payday Loans Work?

We have a dedicated article on our website that explains how online payday loans work.

This service and website is an invitation to send us a Payday loan application, not an offer to make a loan. We are registered with Utah's Department of Financial Institution. If we approve your loan application, the funds will be disbursed from our account in Utah. Utah law governing consumer loan agreements may differ from the laws of the state where you reside. This service may or may not be available in your particular state.