Frequently Asked Questions

What is a payday loan or cash advance?

A payday loan or cash advance is an unsecured, short-term cash loan to help you until your next payday. Customers choose payday advances to cover small, unexpected expenses while avoiding costly bounced-check fees and late payment penalties. At My-Cash-Now.net, apply online for a payday loan and your advance will be electronically deposited to your checking or savings account.

What can a payday loan be used for?

Whether you are paying off bills, celebrating a special occasion, or covering an unexpected cost your payday loan is there to be used at your own discretion.

How much can I receive?

Your first loan is based upon the information you provide in your loan application. After successful repayment of your loan, we may increase your loan amount on any future loans.

How do I qualify for a payday loan?

My-Cash-Now.net makes qualifying for a payday advance easier than for traditional credit or loans. You should meet all of the following requirements:

  • You must be at least 18 years of age
  • Have a job (or other regular source of income)
  • You must have an active open bank account

To be approved for a loan, you need to meet the requirements of the specific lender with whom you are connected. The lender will evaluate your application and determine whether you are eligible based on its own set of approval criteria. Factors such as income, direct deposit of your pay, past payday loan history and state of residence, may affect the approval of your loan.

If your application is accepted by a lender, your assigned lender may contact you directly and ask for additional information in order to approve the application. Payday lenders utilize proprietary criteria to evaluate applicants and will approve your loan when your application matches their criteria.

In order to increase your chances of getting matched with a lender and ultimately approved for a loan, please be sure to fill out our application with honest verifiable information. For example, entering a cell phone number instead of a home phone makes it more difficult to verify your information and many lenders will not accept applications that cannot be verified. We do our best to find a lender for you, but unfortunately there’s no guarantee that your loan application will be accepted.

What is the procedure to apply for a payday loan online?

To apply for a payday loan, complete and submit the application found on our website. At that point, the approval process will immediately get under way and an agent will notify you of your status.

What information do I need to complete the application?

We need your name, address, contact details, employment information, and banking details in order to complete your payday loan request.

Is my personal and financial information secure?

We respect our customer’s right to privacy in managing their personal finances. Our site uses a variety of security measures to maintain the safety of your personal information. All sensitive data transmitted between your browser and our website uses 128 bit Secure Socket Layer (SSL) encryption technology.

Is there an application fee?

My-Cash-Now.net never charges applicants a fee to qualify for a payday loan.

Does submitting an application obligate me to take out a loan?

No; submitting an application simply states that you wish for one of our agents to approve and contact you to discuss your payday loan options. You may ask us any questions, and withdraw your request if you so choose. If you are ready to proceed, you may confirm your information and officially agree to terms with one of our representatives.

What if I have bad credit?

USA Payday loans are short term loans that the lender expects to be repaid at the end of the month. Because they are slightly riskier to the lender for those who have poor credit, the APR may be slightly higher to cover the risk. But, the short term works in your favour as it should not make a difference if you repay the loan on time.

Does being a tenant influence my eligibility?

Whether you rent or own your home, it does not affect your eligibility for a payday loan.

Do I need to fax my information?

There is no need to fax any personal details. The lending company will instantly get all necessary information online.

Can I have more than one payday loan at a time?

No, all other payday loans must be repaid before another may be granted.

Do you contact current or former employers?

No, the lenders operate a strict confidentiality policy. None of your personal information will be passed onto any third party without your prior agreement or unless required by law.

Do I need direct deposit?

Your bank account must be set up with direct deposit to qualify for a cash advance. It is the most secure way to offer loans as quickly as we do.

When will I receive my payday loan?

Once approved, your Payday Loan will be available in under 24 hours. Although the funds are deposited on the same day in most cases, some banks may take up to 48 hours. If you want your loan money available on the same day, it’s advisable to apply before 3pm.

How will I know that my loan has been approved?

You will receive an email notification once your loan has been approved. My-Cash-Now.net reserves the right to make adjustments to your loan approval up until you receive the funds in your bank account based on new information received regarding your application.

When will my loan be due?

Terms and conditions vary, but typically you will be required to repay the amount of credit you borrow plus interest charges within 28 days after you enter into the loan agreement.

What if I am unable to repay my loan by the due date?

If you cannot repay the full amount of your loan by the due date, you may be able to request a loan extension. Although, this might increase the amount you’ll need to repay.

How often can I get a payday loan?

We are available any time you need financial assistance between pay periods. We encourage all of our clients to use these loans responsibly and keep in mind that a payday loan is a short-term solution to an urgent cash need; they should not be used repeatedly to deal with continuous budgeting issues.