Frequently Asked Questions (FAQs)
1. What is a payday loan?
A payday loan provides you with emergency cash when you need it most. This is usually between paydays. A payday loan is a short-term loan not intended for long term financial needs.
2. What are the requirements?
You will need to be currently employed a minimum of 3 months, a checking account that is in good standing, and must be at least 18 years of age. The definition of an account in good standing is an account that has minimal NSF/Returned checks; and account opened and active a minimum of 3 months. At current residence a minimum of 3 months.
3. What do I need to bring?
MOST RECENT PAY STUB
OR
AWARD LETTER FOR SOCIAL SECURITY OR DISABILITY
MOST RECENT ORIGINAL BANK STATEMENT
(If 3 weeks or older, last 30 day print out from bank, must show address and account number on printout and requires teller stamp, unless bank will fax directly to us.
If you have on line banking, you may pull statement on our computer!!!)
VALID DRIVERS LICENSE OR STATE ID
CHECK BOOK
NEED 3 ITEMS REFLECTING CURRENT ADDRESS
(If address is already current on your bank statement, driver’s license or state id and your pay stub, that’s all you need!!)
4. How long does it take to get a loan approved?
Most of the time it takes 10 minutes or less.
5. How much can I borrow?
Loans range from $100 to $1,000.00 (Delaware) and from $50.00 to $500.00 (Virginia). All information received will be reviewed to determine the loan amount.
6.What are the fees for your services?
| Advance Amount |
Finance Charge |
Total Loan Amount |
| $100.00 |
$20.00 |
$120.00 |
| $200.00 |
$40.00 |
$240.00 |
| $300.00 |
$60.00 |
$360.00 |
| $400.00 |
$80.00 |
$480.00 |
| $500.00 |
$100.00 |
$600.00 |
| $600.00 |
$120.00 |
$720.00 |
| $700.00 |
$140.00 |
$840.00 |
| $800.00 |
$160.00 |
$960.00 |
| $900.00 |
$180.00 |
1080.00 |
| $1000.00 |
$200.00 |
$1200.00 |
*Finance charges are calculated on the basis of $20.00 per $100.00 borrowed for each 14-day period. APR is 521.43% for a 14-day period.
Finance charges are pro-rated for the number of days the loan is outstanding. A $25.00 returned check charge will apply for any items returned by your bank.
**SOCIAL SECURITY CUSTOMERS RECEIVE OUR DISCOUNT RATE OF $15.00 PER $100.00 BORROWED FOR EACH 14-DAY PERIOD, HOWEVER, YOU ONLY PAY ONCE PER MONTH WHEN YOU RECEIVE YOUR SOCIAL SECURITY INCOME.
Virginia
| Advance Amount |
Finance Charge |
Total Loan Amount |
| $50.00 |
$7.50 |
$57.50 |
| $100.00 |
$15.00 |
$115.00 |
| $200.00 |
$30.00 |
$230.00 |
| $300.00 |
$45.00 |
$345.00 |
| $400.00 |
$60.00 |
$460.00 |
| $500.00 |
$75.00 |
$575.00 |
*Finance charges are calculated on the basis of $15.00 per $100.00 borrowed for each 14-day period. APR is 391.07% for a 14-day period.
You will pay a fee up to $25.00 for any items returned by your bank for non-payment.
Social Security Customers pay monthly.
7. After paying off a loan, when can I apply for a new loan?
You may reapply for a new loan immediately after you payoff in cash. If your check was recently deposited, you must provide proof to us, from your bank that the funds have cleared and will not be returned. This must be on bank letterhead. You may reapply once it has been received.
8. What if I do not have good credit?
We do not do credit checks.
|