Frequently Asked Questions
About Payday Loans - What are the minimum requirements to receive a fast cash advance?
- 18 years of age or older
- Have a job or regular income
- US citizen with a checking or savings account
- Residents of some states may not be eligible for a cash advance based upon lender requirements
- Make at least $800 a month
- Not active in the military
- Other requirements may apply. See lenders for details
- What is a cash advance loan?A cash advance loan (also called a paycheck advance, payday advance or payday loan) is a small, short-term loan intended to cover a user's expenses or immediate cash needs until his or her next payday. A cash advance loan is usually a better option over bouncing checks or having to pay late fees. Be sure to read the terms and disclosures of your loan before accepting the loan.
- Is there fee for using moneymutual.com to apply for a cash advance?No. Money Mutual is a matching service finding the best lenders for your cash needs and does not charge you a fee to use this service.
- How long does the process take? How soon can I get the cash?Each lender determines their own process. MoneyMutual is just a matching service with trusted short-term loan providers. Usually this process is completed and funds are transferred to your account in less than one business day.
- If I have bad credit, can I still get a cash advance?Yes. Online payday lenders do not typically use credit checks from the big three credit bureaus or secure your loan with personal property.
- How much money can I borrow?The amount you can borrow is based on your current income and other qualifying questions asked by the lender. A cash advance payday loan is generally defined as a loan between $200 and $1500.
- When does the loan need to be paid back?Payday loans are intended to be paid back usually between one and three weeks. Make sure you talk to the lender you are matched with about the repayment plan and review thoroughly the terms and disclosures before accepting any loan.
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