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Frequently Asked Questions

What is a payday loan?
A payday loan is a short-term loan that allows a customer to receive cash from a lender, usually within a 24-hour period.

Who is eligible for a payday loan?
Almost anyone who has a job, an active bank account, and receives direct deposits is eligible for a payday loan. If a customer meets these requirements, they can usually receive funds into their account within a 24-hour period.

How does a payday loan work?
Payday loans allow the customer to borrow money against their next paycheque from a direct lender, financial institution, or other loan provider.

Do I need a payday loan?
If you need to cover unexpected expenses, such as a late bill payment, car payment, utility payment, car repairs, emergency home repairs, or any other short-term financial emergency, then you need a payday loan. Payday loans can be used for an unexpected expense, even if you are just out of groceries until payday. Payday loans can be used for ANY consumer purchase, debt, or bill payment.

How much can I borrow?
Because payday loans are small loan amounts without credit checks, and intended to only be a short-term solution to financial need, the amount you can borrow will depend on your financial status and your ability to repay the loan on your next payday. Most lenders state that they are capable of provided customers with loans of up to £750.

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