Payday Loans Online - Quick Approval

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In today's world, it's all too easy to quickly go from having a little bit of extra money in the bank to a complete financial crisis. In cases like these, many people turn to payday loans as an efficient short-term solution for their financial emergencies.

Quick and easy – that's what payday loans online are all about. If you have suffered an emergency, a payday loan can mean the difference between paying the bills, being late on payments, or not being able to afford groceries for your family.

However, before you go through with the process of getting a cash advance loan, it is important to understand how these products work and whether they are suitable for your needs.

What Are Payday Loans?

payday loans online

Payday loans, also known as cash advances, are short-term unsecured emergency cash loans that give borrowers access to a small amount of cash. Although some states do place limits on how much you can borrow with payday loans, most lenders will cap your loan at $500 or less or $1000.

Unlike many other types of loans, online payday loans do not require good credit. Many lenders offer same-day or instant approval on payday loan applications without any credit check. They will deposit funds into your account within one business day.

Payday loans are typically repaid in a single payment on your next pay date, generally two weeks to a month after taking out the loan. Borrowers also can extend the loan for an additional period if they're unable to repay the loan by their next pay date.

How Do Payday Loans Work?

Payday loans are very easy to apply for, qualify for, and complete the application process. It only takes minutes to apply online and receive an answer. If approved, you will receive a loan offer that includes the amount, interest rate, and fees associated with the loan.

When you accept the offer, all you have to do is provide your electronic signature. Once that's done, your lender will deposit money into your bank account within one business day of acceptance. After that, funds can be used for any purpose.

On the due date, either you or your lender can initiate a withdrawal from your bank account for the amount of the loan and any charges that may be due. You can also repay early by contacting the lender or logging into the lender's customer portal.

What Do You Need for a Payday Loan Approval?

You typically need proof of income and an open bank account to be approved for a payday loan. Applying for an instant payday loan from your phone or computer takes as little as five minutes. You don't have to worry about paperwork or faxing documents. Once approved, your funds can be deposited directly into your bank account in as little as one business day.

Who Can Borrow Payday Bad Credit Loans?

Most people who apply for payday loans qualify — even those with poor credit scores or no credit history.

To qualify for a typical payday loan, you must meet the following basic loan criteria:

  • Have a regular source of income and proof of income such as tax returns, pay stubs, and bank statements.
  • Be 18 years old or older
  • Be a U.S. citizen or permanent resident
  • Have an active checking account
  • Have a verifiable email address and phone number

What Are the Costs Associated With Payday Loans Online?

The fee charged can vary from one lender to another and differ from one state to another. Still, in general terms, it will be around $15 per $100 borrowed for about 14 days. The interest charges depend on how much money has been borrowed and certain other factors.

What Are the Benefits of a Payday Loan?


The entire process, from start to finish, is fast. You can apply online and get approved in a matter of minutes. If approved, you can have the cash deposited into your account by the same or next business day.


Payday loans are available online 24/7. There's no need to go anywhere or talk to anyone face-to-face. This means that you can apply for your payday loan at any time of the day or night without worrying about your preferred bank being closed. This is unlike bank loans which have strict working hours and are only available during working days.


Online payday loans are unsecured personal loans, so there's no need for collateral such as a car title or piece of property to take out a loan. This is particularly helpful for borrowers who do not own their own home or lack assets such as a car or other property.

No Credit Checks

Most lenders don't check credit reports from credit bureaus, so your credit score may not even be reviewed as part of the application process. This allows you to skip all the red tape associated with poor credit and gives you a chance to solve your problem without worrying about your past mistakes.

borrow bad credit payday loans online

Ideal for Short-term Financial Needs

Payday loans are designed to be used when you have temporary cash flow problems. For example, suppose you have an immediate need to pay medical bills or car repairs. In that case, they're great because you can get the money quickly and pay it back in one lump sum when your next paycheck arrives.


The borrower determines the amount and duration of the loan. The loan repayment can be adjusted according to the borrower's needs. The borrower can use the loan amount to fund an emergency expense, help you avoid costly bounced-check fees and late payment penalties, or cover everyday costs when you're between paychecks.

Quick Approval

A payday lender will usually approve your loan within 24 hours after receiving your loan application, making it one of the fastest types of borrowing available. Once approved, you can generally receive your funds in as little as one business day.

Before You Get a Payday Loan: 4 Key Things To Consider

Taking out a loan can be stressful and life-changing, but it can also be a godsend if you're in a bind. Knowing what lies ahead and what to expect is essential if you're considering getting a payday loan.

Here are four things to consider before getting a payday loan:

Find a Legitimate Lender

Many lenders claim to offer the best rates, but how do you know if the lender is legitimate? Do your research and make sure the lender has a good reputation and is trustworthy. It's important to find a legitimate lender that is licensed in your state. You can use the National Conference of State Legislatures' website to see which states have restrictions on payday loans.

Know the Loan Terms

When you take out a payday loan, there are several ways you can pay it back, including paying it all at once or making payments over time. Payday lenders usually charge interest based on how much you borrow (called the principal) and how long it takes you to pay it back (called the term). Sometimes they also charge origination fees, late payment fees, and other charges added to the principal.

You pay more than the requested loan amount with all these additional charges. Lenders must disclose details of loan payments and all other changes in the loan agreement. Therefore, it is crucial to review the loan agreement generated by the lending partner for your loan request. Don't get stuck with hidden fees that can take away from the value of your loan.

Can You Afford To Pay Back?

Before getting a payday loan, make sure that you can afford to repay it within the allotted time frame. Payday loans are designed to be paid back on your next pay date. You may be hit with extra fees and interest charges if you don't have the money available when it is time to repay the loan – even if your situation has changed and you're suddenly out of work. This can add up very quickly, making it difficult for you to repay the loan and get out of under the debt.

How Much Do You Need?

Payday loans are typically for small amounts of money (usually less than $500). Therefore, a short-term loan might not be the best option if you need more cash. Instead, a better choice might be a personal loan from a bank or credit union. Such loans tend to have lower interest rates, more lenient credit requirements, and longer repayment terms than short-term loans.

What Should I Consider When Choosing a Payday Loan Company?

You have many choices when it comes to finding the right payday loan company. Here are some things you should consider:

  • How long has the company been in business?
  • What is its reputation?
  • How many customers have they served?
  • Are they licensed by the state(s) in which they operate? How much do they charge for their service?
  • What is the maximum amount I can borrow?
  • How quickly will I receive my money if approved for a payday loan?
  • What are their hours of operation?
  • Do they offer online lending, or must I go into a store location and apply for my loan in person?

Slick Cash Loan Offers Online Payday Loans

loan agreements of payday loans online

If you're looking for a way to get some quick cash, you might consider an online payday loan. You're probably already familiar with the convenience of online banking, so why not apply for your payday loan online, too?

When you apply with Slick Cash Loan, we work with a network of reliable direct lenders that offer online loans across the USA. Whether you're looking for a fast cash advance or payday loans, our direct lenders can help.

We all know that life doesn't always happen according to plan. However, our online loan application process is fast, easy, and secure. You could have funds in as little as one business day!

Payday Loan FAQs

How Much Can I Borrow?

Our payday lenders offer loan amounts ranging from $100 to $1,000. The loan amount depends on the state of residence, current financial situation, and several factors such as the type of loan, income, current payday loans, debt-to-income ratio, etc. Our payday lenders will review all of this with you during the approval process so that you can make an informed decision about whether or not a payday loan is right for you.

How Long Do I Have To Pay Back My Loan?

The maximum repayment period is usually 30 days from the date you receive your funds from the lender. Some states, however, allow extensions if there's a high number of returned checks in your area or if you happen to be on active military duty.

What Happens if I Don't Repay My Payday Loan on Time?

Suppose you cannot repay your payday loan on time. The lender may offer to rollover the loan for another period. But rollover or refinancing a payday loan can be costly: You have to pay an additional fee to refinance in most states. When you're already struggling with a high-interest payday loan, that added expense could be enough to push you even deeper into debt.

How Do I Repay My Payday Loan?

Most online lenders will automatically withdraw your payment from your bank account on the due date of repayment. This is the most common method of payment and can be highly convenient.

There are two main ways to repay your payday loan:

  • You can pay the entire balance, including the interest and applicable fees. This works as a one-time payment.
  • You can set up a payment plan with your lender, where you agree to make multiple payments over time until you've repaid the loan in full. Most lenders will charge interest on top of the principal amount in each repayment.