FAQ

Loan Product

What are online payday loans?

Online payday loans are short-term cash advances you borrow from a direct lending company. From these loan products, one can get from $100 up to $1,000 with a maximum term of 30 days. Usually, these cash advances are used for minor expenses like grocery bills, car repairs, or small medical bills.

What is the best payday cash loan?

The best payday cash loan is one that has the most reasonable interest rates and flexible repayment terms. Feel free to shop around and get the best offer from direct lenders to find such a cash advance. Don’t know how to do it? Apply on our website, and we will make it for you.

Where can I find payday loans near me?

Stop your searches and get your money online. Regardless of your state, you can apply online by filling the loan application form on our platform. We will connect you with direct lenders near you, ready to provide you payday loans as soon as possible.

Can I get a payday loan with bad credit?

Sure thing! Borrowers with all credit scores are welcome to apply and receive emergency cash to pay for their financial problems.

What are the other options for a payday loan online?

If you need more money, consider installment loans. With a medium-term installment loan, you can borrow from $1,000 up to $5,000 with repayment terms from two to 24 months. You’ll repay this loan with equal monthly payments. Besides, you can also rely on long-term personal loans. The minimum amount of a personal loan is $5,000, and the maximum is $15.000. Also, you might get title loans with your car as collateral. These loan products help you get the money you need to pay more significant expenses like significant house renovations, study taxes, or medical bills.

How do I get my money?

You get your money with a direct deposit to your bank account from your lender.

Are payday loans available in my state?

Regulations for payday loans vary by state. You can check the status of payday loans by accessing your state’s official site, section lending regulations.

For which purpose can I use a payday loan?

You can use payday loans for emergency purposes, for example, paying for unplanned expenses like more enormous medical bills, urgent car repairs, or minor house improvements.

Application Process

Is there any cost to apply for a payday loan?

There are no additional fees and no limit to the number of times you can submit the application forms if you’re using the 15M Finance platform.

How do I qualify for an online payday loan?

The payday loans’ requirements are simple. You must be at least 18 years old, be a US permanent resident or a US citizen, have a valid ID, have a steady income source, and have an active bank account. Also, make sure you have a current phone number and a valid email address.

Do I need to be employed to qualify for a payday loan?

No, you don’t have to be officially employed to get a cash advance. However, you must prove your steady income source.

How do I apply for a payday loan?

You can apply for an online payday loan in 3 steps. Firstly, you have to fill in the application form. It will take you only several minutes. You will need to provide basic details and the loan amount you need. After submitting, you’ll get the approval decision. Most lenders provide a loan decision instantly. Then, after you signed the loan agreement, you’ll receive your funds on the business day or even sooner.

What if I apply for a loan on a Friday?

All loan applications completed on Fridays are approved on the same day if the request form is submitted before noon. The direct deposit is, however, made on the next business day.

What if I request a loan on a weekend or holiday?

As a rule, loan applications submitted on weekends or holidays are disbursed on the next business day.

Can I qualify for a payday loan if I am retired?

Yes, you may be approved, but you must prove that you can repay the loan by establishing your alternative income source.

Can a couple get approved for separate loans?

Yes. Each borrower is treated as an individual.

Can I request more than one loan at a time?

Multiple loans may get you in a debt cycle. That is why most lenders don’t give multiple loans to one person at once.

How soon may one get a new loan?

One can apply for a new loan immediately after paying back the existing ones. Nothing should prevent you from getting another loan if you meet the eligibility criteria of the loan provider.

Payday Loan Repayment

How can I pay back my online payday loan?

The lender will automatically withdraw the loan amount from your back account on the due date or as soon as your next paycheck arrives.

Can I get an extension on a payday loan?

It depends on your loan provider. If you can’t afford to pay off the loan when it’s due, some lenders may offer the option to renew or rollover the loan by paying ad additional fee. However, this option should only be a last resort because it can get you in a debt cycle.

What happens if I can't pay back my payday loan?

If you don’t manage to repay your loan, you’ll face many serious consequences, like additional fees and interest. Plus, your case may be reported to a debt collection agency. Also, it may damage your credit history. It will lead to difficulty getting another loan in the future.