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What is the difference between installment loans and payday loans?

While online payday loans typically need to be paid back in a lump sum on an agreed-upon date – usually on the lender’s next payday – online installment loans can be paid back over time in regular installments.

When you urgently need money, a payday loan can be your true savior. This kind of financial help is short-term and usually means that you will repay the money you borrowed from your next paycheck, so you will not have to deal with penalties in case of late payment.

More and more people have been choosing payday loans these days and are not regretting it. Further in this article, we will tell you more about the specifics of receiving payday in the USA.

What are the benefits of payday loans?

Payday loans are a great solution for people who have sudden financial problems. You can get it much faster than a normal bank loan, and the requirements for the borrower are much less strict.

Different lenders may set their terms to borrowers, but the main requirements remain the same:

  • age over 18 years;
  • US citizenship;
  • the income of at least $1000 per month;
  • non-involvement in the armed forces.

You should also be prepared to be asked for certain personal information such as name, phone number, address, email, social security number, information about your job, and so on.

Payday loans can be used for very different purposes. Most often people take out loans to cover medical expenses for treatment or urgent bills that have accumulated in recent years, as well as simply for groceries. They are also often used to pay back-in-time loans that have been taken out earlier to avoid penalties.

How to get an online loan?

Some states have laws restricting the Annual Percentage Rate (APR) that a debtee can charge you. APRs for cash advance *loans vary from 200%* to 1386%*, APRs for installment loans vary from 6.63%* to 225%, and APRs for consumer loans vary from 4.99%* to 450%* and depends on a debtee.

*Loans from a state that has no restricting laws or loans from a bank not ruled by state legislation may have an even higher APR*.

According to the laws of this state, you can borrow a maximum of $500, and at the same time, you can not have two loans. However, conditions in the USA may change without prior notice, so be sure to check with your lender.

With advertising matching services payday loans are available to everyone, regardless of their social status or job. Just let us know how much exactly money you need and we will do our best to make sure you get it as soon as possible and without any inconvenience.

Just fill out the simple application form and become one step closer to getting the money you need!

The process of obtaining a payday loan in the USA using matching referral services

  1. Specify the amount of money you need (we advise you to take exactly as much as you need to solve current problems, no more and no less)
  2. Take a few minutes to fill out a simple application form
  3. Wait until your application is approved
  4. You will receive the money within one banking day