How to Find the Right Cash Advance Store

When money is tight, many consumers turn to payday loans to help them get through their financial bind.

These short-term loans can serve as a valuable financial safety net, helping struggling individuals pay pressing bills that just will not wait.

However, it is important to note that not all payday lenders are the same. Each lender is owned and operated by individual companies, each with its own set of payday loan guidelines. Even the locations of payday lenders can vary - some lenders can be found in your neighborhood at a physical cash advance store, while other lenders offer online payday loans.

How to Compare Payday Lenders

In order to find the right cash advance store to meet your financial needs, there are several factors that you should compare:

How much are the payday lender's finance charges, and is the lender offering any special rates?

While finance charges typically hover around the same starting point for most payday lenders - generally around 15 percent of the loan amount - some lenders do charge more for their services. It is important to find out exactly how much your payday loan is going to cost you in the end. Additionally, many lenders offer special rates - especially to first-time customers. When shopping for a payday lender, make sure to find out what special rates each lender is offering - you could wind up saving some money.

What is the maximum amount the payday lender will loan to you?

Typically, those who turn to payday lenders have a specific number in mind for the loan amount they need. Therefore, it is important to make sure the payday lenders you are considering will actually loan that amount to you. Payday loans are generally around $500, but some lenders do offer larger loans, while others might provide only smaller loan amounts. You could find a payday lender that offers a great special rate only to discover that you are not able to secure the loan amount you actually require.

What are the payday lender's repayment terms?

Most payday loans need to be repaid in one lump sum within 14 to 31 days - essentially, by the borrower's next payday. However, this repayment window can vary from lender to lender. For this reason, it is essential to compare each payday lender's repayment terms to make sure they will work with your repayment timeframe. Additionally, you should make a special note of each payday lender's repayment guidelines if you do not repay your loan by its original deadline. Do you have the option to roll-over your loan to another due date, and how much will that lender charge you to do so?

What are the payday lender's qualifications for borrowers?

Payday loans are known for how easily they can be to secure compared to standard loans. And while they are in fact easier to obtain, there are still qualifications that borrowers need to meet. The most standard qualifications include being 18 or older and having an active bank account. However, payday lenders do have their own qualifications for borrowers. Some lenders might require that an individual earn a certain monthly income level in order to qualify. Others might actually run a credit check before approving a payday loan. While comparison shopping, you will want to make sure that you qualify for the payday loans you are considering.

Begin Your Cash Advance Search

The easiest way to begin your search for the right cash advance store is right here. By completing our brief and secure online form, you will receive information on numerous payday lenders. You then will be able to compare these payday lenders based on the factors noted above in order to find the lender that is right for you.