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Instant decision payday loans

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Is an instant decision payday loan instant? And when will I get my funds?

A payday loan — also known as a cash advance, a short term loan or a cash loan — is designed to give you access to funds in a short amount of time. Some lenders even offer instant decisions, instant approval and instant processing for payday loans. But what do these terms really mean, and how long does it really take to get your loan money?

This guide explains what you need to know about payday loan processing times so you know when to expect the proceeds of your loan.

Check into Cash Payday Loan

Check Into Cash Loans

Check Into Cash allows you to directly apply for a payday loan and have your cash when you need it.

  • Min. Loan Amount: $50
  • Loan Term: Varies by state
  • Turnaround Time: 1–2 business days
  • Total Costs: Varies depending on the amount and your state of residency.
  • Must be 18+
  • No security needed
  • Confidential and secure!

    What does “instant decision” mean?

    Payday lenders that advertise loans with “instant decisions” usually let you know the outcome of your application within a few minutes or a maximum of one hour after the application is submitted. These lenders use technology to speed up the online application process, allowing them to give you an outcome in an “instant.” If more details are needed, or if the application needs to be assessed by a person rather than automated, the final decision may take longer.

    The time it takes for you to get the money from this type of loan is another matter altogether. If you apply at a storefront, you can get the money almost as soon as you accept the loan contract. With an online application, you’ll need to ensure all your documents have been submitted and the contract is signed. It’s only after these steps are completed that the lender will transfer your funds, usually the next business day.

    What is a payday loan?

    A payday loan, also known as a cash advance loan, is a short-term personal loan (typically $500 or less) that usually must be repaid within two weeks to a month. The repayment date is determined by your pay schedule. Because payday loans come with steep finance charges, it is not a long-term solution, but a temporary fix to an unexpected financial situation. Rules and regulations for payday loans vary from state to state, and are even not permitted in some states.

    Short term loans you can apply for

    Rates last updated December 19th, 2018
    Unfortunately, none of the short term loan providers currently offer loans in your state. Learn more about short term loans in your state to find an alternative.
    Name Product Product Description Max. Loan Amount Turnaround Time Requirements
    CashUSA Installment Loans
    A connection service for quick cash loans up to $10,000.
    As early as 1 business day
    Must have a monthly income of $1,000+ after taxes and valid checking account.
    Jora Installment Loans
    Installment loans with repayment terms up to 30 months, depending on your state.
    1–2 days
    Must have an active checking account, regular source of income and email address.
    OppLoans Installment Loans
    Installment loans with competitive rates from a top-rated direct lender.
    1 business day
    Must have direct deposit and meet minimum income requirements
    CashNetUSA Loan
    Apply for a short-term loan with an easy online application and dedicated customer service.
    Varies by state
    1 business day
    You must be a US citizen or permanent resident, be at least 18 years old and have regular income and a bank account.
    LendYou Short-term Loans
    Apply online with this loan-connection service offering unrestricted short-term loans with fast turnaround.
    1 business day
    You must be a US citizen or permanent resident, age 18+ and have a regular income.
    Check into Cash Payday Loan
    With 1,000 branches in 30 states, get $50 to $1,000 in days from this direct lender.
    1–2 business days
    You must be at least 21 and an American citizen and have a bank account, email address and phone number.
    ACE Cash Express Short-term Loans
    Quick payday, installment and title loans with no prepayment penalty and a 72-hour satisfaction guarantee. Funds can be loaded on an ACE Elite™ Visa® Prepaid Debit Card.
    Varies by state
    Generally receive the money the next business day
    Must be 18+ years old, have a steady source of income and a checking or savings account. Must not be a debtor in bankruptcy.

    Compare up to 4 providers

    How quickly will I receive my loan?

    While the majority of lenders can give you an instant decision, the turnaround time for funding is a major point of difference. Take a look at the table below to see how long it will take for your loan to be funded from these payday loan lenders.

    LenderWhen you will receive your loan
    100 Day LoansUsually 1 business day, but there can be same-day funding.
    Achieve LendingVaries acccording to the lender you are matched with.
    Advance AmericaIf you apply online and the application is approved before 8 p.m. EST, it’s usually funded the next banking day. If you apply in-store, the loan can be funded within 10-15 minutes.
    CashAdvance.comUsually 1-2 business days.
    CashNetUSAIf you apply and are approved by 9 p.m. CT Monday-Thursday, you can receive your funds the next business day. If you apply and are approved between 9 p.m. CT Thursday and 7 p.m. CT Sunday, you can receive your funds on Monday (unless it’s not a banking day).
    Cash CentralLoans approved before 7:45 p.m. EST Monday-Thursday are usually deposited into your bank account the next business day. Applications submitted on Friday, Saturday and Sunday before 7:45 p.m. EST will be funded the following banking day. Applications submitted on Sunday after 7:45 p.m. will be funded on Tuesday.
    Check CityIf you apply online, it takes 1 business day, and if you apply in-store it takes about 15 minutes. If you apply online and are approved on weekdays by 7 p.m. MT or by 8 p.m. on Saturdays, you can be approved on the same day. If you apply after these hours or on Sundays or holidays, your application will be processed on the next business day and you will receive your funds the day after that.
    Check Into CashLoan applications processed before 7 p.m. during business days are funded on the next business day. If you apply online, you can pick up your approved funds in-store.
    LendUpIf your loan is approved by 5 p.m. PT Monday-Friday (excluding holidays), you will generally receive your funds the next business day. Exact funding time depends on your bank.
    LoanMart1 business day
    NetLoanUSAIt varies depending on the lender you’re approved with.
    Personal Money StoreLoan processing and transfer times vary between lenders, but you can typically receive your approved funds on the next business day.
    Speedy CashOnline loans take 1 business day to be processed. You can also visit a store to pick up your cash or have it loaded onto a prepaid debit card.
    TrustedLoanNetworkIt varies depending on the lender you’re approved with.
    USA Payday CashYou can receive your approved funds in your account by the next business day.

    What should I consider when choosing an instant decision payday lender?

    Consider the following factors to make sure you pick the right instant payday lender for your circumstances:

    • Direct lender or loan matching service. Direct lenders review your application themselves and may or may not approve you depending on their eligibility criteria. Note that the approval time varies depending on the lender, so “instant decisions” may not be available.
    • Lender’s reputation. Verify the lender’s details online to make sure it has a good reputation. The internet gives you an easy means to find out what previous borrowers have said about any payday lender. If you find any reason to be wary, you should move on to another lender.
    • Application process. How quick and easy is the application process? A typical payday application takes 15 minutes or less to complete, provided you have all the required information close at hand. Some lenders may require you to fax statements or details, which may take more time.
    • The time it takes to disburse funds. Even with instant approval payday loans, you need to find out how much time the lender will take to give you the money you need. With an in-store application you should receive your approved funds on the spot. If you apply online, you might have to wait until the next business day, or longer.

    See how quickly you can get a payday loan

    What features come with instant decision payday loans?

    • Interest and fees. State laws govern the annual percentage rate (APR) that payday lenders can charge. This includes the interest, as well as other applicable fees. However, payday lenders in any given state will charge different APRs and fees, so it pays to compare your options.
    • Maximum loan amount. This is another factor that depends on state regulations, but not all lenders provide loans up to the maximum allowed amount for first-time borrowers. In some cases, you might have to build up a history with a lender or at least repay your first loan on time before you qualify for the maximum loan amount.
    • Loan term. The time you have to repay the loan also depends on state laws. While some states let you rollover or renew your loan, others don’t. Whether or not you can get on a repayment plan also depends on the state of your residence. Check the applicable rules for your location and remember that the longer you take to pay the loan off, the more you’ll end up paying in fees. Typical payday loans are due in full within 2-4 weeks.
    • Repayment flexibility. Your lender should let you pay your loan off ahead of time without charging any additional fees or penalties. While payments via checks and direct debit are commonly accepted, some lenders let you pay using a debit card as well.

    Things to avoid about instant decision payday loans

    Payday loans attract unusually high fees in comparison to other types of credit, so explore all your options before you decide to apply. If you think you might have problems in paying the loan back on time, avoid taking it in the first place. Paying the loan back after its due date can lead to higher costs.

    When you apply for a payday loan and are approved, make sure you go through the loan contract carefully. This step gives you a clear picture of how much you might have to pay in different circumstances. Finding out about the payday lending laws in your state ahead of time can also help protect you from unfair lending practices.

    Are payday loans available in my state?

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    US Payday Loans Offers

    Important Information*
    CashNetUSA Loan

    Apply for a short-term loan with an easy online application and dedicated customer service.

    Check into Cash Payday Loan

    With 1,000 branches in 30 states, get $50 to $1,000 in days from this direct lender.

    OppLoans Installment Loans

    Installment loans with competitive rates from a top-rated direct lender.

    LendYou Short-term Loans

    Apply online with this loan-connection service offering unrestricted short-term loans with fast turnaround.

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