Payday Loan Requirements

Getting approved for a payday loan only takes a few minutes and couldn’t be easier. Before starting, make sure that you meet the payday loan requirements mentioned below. Meeting these requirements could get you pre-approved for a short-term loan from Cash Factory USA.

Have you already taken out a payday loan with us before? If so, you can save time by skipping the application process.

Payday Loan Requirements

There is some basic information that we need to verify before you can receive a payday loan. Keep in mind that we will run your information to make sure it is valid, but this will not affect your credit score.

  1. You must be a US citizen and be at least 18 years old.
  2. You must be currently employed and have a verified income from a job or other source.
  3. You must have an open and active checking account from an active bank, credit union, or prepaid card account.

Application Information

If you meet the payday loan requirements, then you should be able to get approved for a payday loan. When filling out the application, we will ask you for the following information:

  • Personal Information: name, date of birth, and social security number
  • Employment Information: employer, income, payment frequency, and next pay dates
  • Bank Account Information: routing number, account number, and bank

In addition to filling out your loan information, you will need to decide how much cash you would like for your short-term loan. Because loan terms vary by state, the loan amount will vary from $100 to $1,000. In some states, loan terms cannot exceed 31 days, whereas in other states, you may have up to 180 days. Check how your state compares with its maximum loan term.

Payday Loans at Cash Factory USA

Once you’ve filled in the application form and it is verified, we will send you the money on the next business day. In some cases where your information can be verified faster, you may be able to receive the cash the same day you send in your online application.

Apply now for your payday loan. And, keep in mind that while you may meet all the payday loan requirements and your application is approved, these types of loans should only be used for short-term financial needs. If you need extra time to pay off your loan, consider applying for an installment loan. Installment loans allow you to pay off the loan over multiple payments beyond your next paycheck.

For more information on Cash Factory USA, our credentials, and our best practices, please contact us.

* Loan funding times and loan amounts are subject to eligibility. Not all applications are approved. Cash Factory USA is not a lender in all states, and loan approvals and amounts are subject to qualification criteria and applicable state laws. If approved before 9 am PT on a business day, funds are generally deposited via ACH the same day or, if approved before 5:15 pm PT, the next business day.  Some applications may require additional verification to qualify, which could delay funding. See Rates & Terms for your state or call us at 855-374-5626 for more details.

Cash Factory USA may use application information, loan history, and various credit reports as part of their underwriting. TX residents: Cash Factory USA operates as a Credit Access Business, arranging a loan between you and a third party. See Licenses & Registrations for additional information. Short-term loans are not intended to be long-term financial solutions. Customers with credit difficulties should seek credit counseling. A single payday advance is typically for two to four weeks. However, borrowers often use these loans over a period of months, which can be expensive.

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