Sometimes, you just need some quick cash to tide you over the week until you get the next paycheck. Asking friends and family for money doesn’t always sound good. Applying for a bank loan makes no sense when you want smaller amounts.
Payday loans are famous precisely because they are easy to get and can be repaid in the next few days or a fortnight. A payday loan is also called a same-day loan, short-term loan, quick cash loan, etc. The interest rate for payday loans is higher than the standard rate. This is expected considering the nature and purpose of payday loans.
So how do you apply for a payday loan? What reasons do you need to provide to get approved?
Well, you don’t need to give any reason to get a payday loan. Yes! The lenders don’t really need to know why you applied for the loan. Payday loans are not bank loans. There’s no need to fill pages of forms or provide dozens of proofs.
You don’t even need to search for a lender to get a payday loan. Many third-party platforms and payday loan distributors offer online services to help you get a payday loan in a single business day.
InstantPaydayLA is a licensed payday loan distributor in Louisiana with a vast lender network. Once you submit the form online, it will be processed in ten minutes and sent to lenders. The lenders will draft a loan proposal and email it to you.
You can now decide whether to accept or decline the loan proposal. The service is free. There are no penalties or hidden charges. When you submit the online application, you need to provide the following information:
- The latest ID proof (for age and address verification)
- Employment proof (electronic copy of a payslip)
- Bank account details (to credit the money)
- Social Security Number (for identification)
Nowhere do you have to give them the reason for getting a payday loan. The lenders don’t bother about your credit score when processing your application. Most requests for payday loans are approved and processed by the lenders.
When Should You Apply for Payday Loans?
If you haven’t ever applied for a payday loan, you might wonder when the right time to get the emergency loan is and whether your reasons are valid. You can apply for a payday loan if:
- You need money urgently (in a day or less) and don’t have any other means to collect the funds.
- You spent your money on existing expenses and don’t have any left for the rest of the week.
- There’s been an emergency, and the expenses are beyond your budget.
- It is the travel/Holiday season, and you’ve still got expenses (for which you don’t have enough money left).
A payday loan is an instant cash advance or a quick loan offered for the short-term but with a higher interest rate. The term payday loan comes from the concept of repaying the loan after receiving the paycheck.
Emergencies occur without a warning, and we are not always prepared to deal with them. Monetary restrictions can put pressure on us when the bills are due and there isn’t enough money in the account. A payday loan comes to the rescue in such instances. But how soon can you get a payday loan? Where will you find a lender? How do you know that the lender won’t charge excess interest?
Well, let’s deal with each question separately.
The first question is how to get instant approval for your payday loan. The easiest way is to apply online. Most online payday lending platforms provide quick emergency loans through their network of lenders. Instead of personally visiting the lender and discussing terms, you can submit an application online and wait for the lender to contact you.
You do not need to take time off work or lose working hours in search of a payday loan. You don’t have to find a lender and perform a background search. The lender will contact you with a loan proposal and offer a same-day loan. The lenders in the networks of online payday loan distributors are verified by the company.
To improve your chances of getting instant approval for your payday loan application, make sure to provide the following information in the application form. Of course, you need to be a minimum of 18 years of age to be eligible for a payday loan.
- State or federal identification (the latest copy)
- Bank account details
- Social Security Number
- Employment status proof
Even though payday loans have a higher interest rate, the state and federal authorities have set restrictions on the upper limit. Lenders cannot charge more than the legally permissible interest percentage. This changes from one state to another. You can cross-check the percentage on the lending platforms or by searching on the internet. A safer option is to use the online services for a licensed and trustworthy platform like InstantPaydayNV.
InstantPaydayNV is a Nevada-based payday loan distributor with a state and federal license to offer same-day loans in the state. We are a transparent platform and adhere to the regulations set by the authority bodies. We offer online money lending and distribution services to anyone eligible as per our criteria. Our lenders don’t differentiate between applicants based on their credit scores.
Just submit your payday loan application by filling out the form on the home page of the website. Our lenders will contact you in a few hours with a loan proposal. The amount will be deposited in your bank account in 24 hours or less. If you want instant approvals and same-day funding, use InstantPaydayNV to apply for the payday loan from anywhere in Louisiana.
By figuring out how to spend less, you don’t have to live from paycheck to paycheck. It can be done in many ways. Budgeting is a start. Then, look for ways to monetize your interests or take up side hustles. Instead of spending this money, you can add it to the emergency fund or save to clear a loan.
The reason doesn’t matter. What matters is that you need money immediately and can pay it off in a week or fortnight. Get started by applying at InstantPaydayNV.