Online Payday Loan
- 24/7 application process
- Transparent terms
- No minimum credit score requirements
- Quick direct deposits
- No third-party fees
Trusted by Thousands of Customers
conditions were transparent, and the interest rates were fair. The online gateway facilitated transaction and payment management.
greeatings to 15m finance for making my Christmas dreams come true! With their help, I was able to wrap up gifts without unraveling my budget. 10/10!
15m finance helped bridge a financial gap and get some extra dollars to my pay check
How Can I Get a Loan via 15M Finance?
We offer a streamlined application process that is convenient and extremely fast. Just follow a few simple steps described below:
Apply online by completing our simple loan request form
You need just some basic personal information and 5 minutes to complete the application procedure.
Stay in touch
After a lender gets your form, it will make a soft credit check to determine your creditworthiness. If you get approved, you will get confirmation via email. The verification process usually takes less than 1 hour.
Assess an offer
Read your loan contract carefully and accept an offer by signing a loan agreement.
Get much-needed relief
You can access the money in your bank account within 24 business hours after signing the contract.
Am I Eligible?
Here are some general criteria you need to meet to be eligible:
- Age: at least 18 years old;
- Citizenship: permanent US residents only;
- Income: official employment or other sources of regular, verifiable income;
- Financial information: have an active bank account in your name;
- Personal details: provide some basic personal information (email, mobile phone number, address, etc.).
Benefits of Getting an Online Loan from a Direct Lender
Our payday loans come with several advantages, including:
- No extra fees for intermediary services
- Almost instant approval decisions
- Speed of disbursement
- Easy online application process
- No faxing or paperwork
- Our direct lenders are bad credit friendly
Alternatives to Direct Lender Payday Loans
Installment Loans
An installment loan is a longer-term debt that suits people with limited budgets. It allows you to get a lump-sum deposit of up to $5,000 and repay it in affordable installments. The payments are usually made on a monthly basis, and their number can be up to 24.
Title Loans
A title loan is a secured short-term loan that provides financing against your vehicle’s title. You can get up to 50% of the estimated car price. The repayment is made by your next paycheck, usually in up to 31 days. You retain ownership of your car and can use it within the whole loan term. However, if you fail to repay the money on time, a lender can repossess your car.
Cash Advance Apps
A cash advance app allows you to access small amounts limited to $300 against a portion of your next paycheck. You can simply install an app on your device, link your bank account to it, and use it when unexpected expenses suddenly pop up. Most apps charge no mandatory interest but may apply express or subscription fees.
Borrowing from Family/Friends
If you don’t want to go into expensive debt, consider asking your close friends or family members to lend you a helping hand. You can discuss loan terms and set the ones that will be convenient for both of you. Also, it can be a great way to save money on interest.
How Much Does a Payday Loan Cost?
There are several factors that can affect the cost of your bad credit payday loan. These parameters include:
- A borrower’s credit score
- State of residence
- Requested amount
- A particular lender you’re dealing with
Typically, bad credit loans are more expensive than traditional loan options. By setting a higher interest rate, lenders try to prevent themselves from financial risks and losses. Most payday loans involve a flat fee of $10 to $30 for each $100 borrowed.
Here are several cost examples:
| Loan Amount | Fee per $100 | APR (14 days) | APR (30 days) | Total Cost |
| $100 | $10 | 260.71% | 121.67% | $110 |
| $300 | $15 | 391.07% | 182.50% | $345 |
| $500 | $20 | 521.43% | 243.33% | $600 |
However, some states may set caps on payday loan interest rates, limiting them to 36% APR. Before applying for a payday loan, check out your state law regulations to understand what interest rate you can expect to get.
Responsible Borrowing
Although online payday loans may be a great solution for unexpected emergencies, they should be approached with caution. Here are some principals to follow:
- Do not borrow more than you need. Even if a lender approves you for a higher amount, this creates unnecessary debt and results in more interest paid over time.
- Create a realistic repayment plan. Only obtain payday loans if you are sure you can pay back on time.
- Understand the real cost of loan. Although the lender’s fees itself may seem reasonable, in terms of an annual percentage rate, it becomes a significant amount.
- Avoid rollovers. Each time you roll your payday loan over, you add fees on top of what you already owe. This way, you can end up paying more in interest than the amount you’ve initially borrowed.
Ways to Improve Your Credit Score
While bad credit loans exist, a higher FICO rating allows you to access more options at better terms. Here are several practical steps to take to boost your credit:
Track due dates
Your payment history is one of the most important factors in determining your FICO score. Late payments on your loans and bills can lower your rating dramatically. Set up reminders or automatic payments and always have a realistic budget to ensure you won’t miss the due date.
Do not close old accounts
This may affect both your credit utilization ratio and the length of credit. Keep them open unless they charge annual or inactivity fees.
Apply for a credit builder loan
This loan requires you to make payments upfront without receiving the funds on hand. The lender transfers the principal amount to a dedicated savings account that will be unlocked once you repay the loan in full. Each of your on-time payments improves your credit rating.
Get a secured credit card
With a secured credit card, you provide a security deposit that also serves as your credit limit. Then, you can simply use it like a regular credit card. Responsible usage boosts your credit and allows you to upgrade your secured card to a regular one over time.
Become an authorized user
If you have a relative or friend who holds an account with a high credit limit and low balance, ask them to add you to it as an authorized user. This way, any positive activity of the primary account holder will be reported to the major credit bureaus under your name, helping you increase your credit score.
Why 15M Finance
At 15M Finance, we know what you’re looking for in payday loans and are ready to give it to you on demand. We can link you with a legitimate direct lender in minutes and help you get the money you need regardless of your credit issues.
Thanks to our fast loan application process and no hard credit checks performed, the funds can reach your bank account within a day. We share your data with direct lenders only, so your personal information is 100% safe. Just fill out the online loan request form to get started!
FAQ
Can I get a payday loan with a bad credit score?
Even if you have a poor credit score, it’s not a big deal. We are not focused on your credit history as long as your income is enough to repay your loan on time.
Do direct lenders guarantee a loan?
Although payday loans have a high approval rate, we still need to ensure you can comfortably meet your obligations. Therefore, we can’t provide a guarantee in advance.
How long does it take to get a loan from a direct lender?
It typically takes just one business day to receive your loan funds. Borrowers who get approved before noon on a weekday can even be eligible for same-day payday loan funding.
Do direct lenders run a credit check?
We don’t do hard inquiries. This means that neither your application nor your on-time payments will be displayed on your credit report. However, defaulted payday loans can be reported to major credit bureaus, affecting your credit score.
How can I get a loan with bad credit?
It’s quite simple! Start with filling out our online application form to access offers from trusted direct lenders in your area. You’re more likely to get approved if you meet our basic requirements.
