Like most people, you probably need a little extra cash sometimes. Maybe you need to pay for something unexpected or don’t want to hassle with borrowing from friends and family. Whatever your reason, you’ve probably turned to payday loans to get the money you need. But, before you do, you should know that there are better alternatives to borrowing from Banks.
What Are Payday Loans?
Payday loans are short-term loans that you get from a third-party lender. These companies make money by charging you a fee for each loan. The amount you can borrow through a payday loan varies, depending on a few factors, including your credit score, your income, and the amount you want to borrow. Once you sign up with a payday loan company, they’ll allow you to borrow money.
How Long Does a Payday Loan Last?
The amount you can borrow through an installment loan may vary, but it’s usually no longer than 30 days. So, if you borrow $1,000 and have to pay the loan off in 30 days, you don’t get to keep that money. Instead, payday loan companies send you another bill, charging you the amount you borrowed plus an additional fee. Some payday loan companies, though, allow you to extend the loan, making it more affordable. However, you have to let the company know that you want to extend the loan, and they have to agree to let you do so. Look at our loan calculator for better preview.
How to Get a Payday Loan
You go to AlphaLoans.ca to get a payday loan and fill out an application. This application asks for basic information, like your name, address, Social Security number, and bank account information. You also have to give us some information about your job, including how much you make. We will provide you with a loan agreement when approved for a payday loan. The agreement includes information about the loan, such as the amount you borrow, how much you have to pay, and how to repay the loan. Since payday loans are interest-based, you must agree to the loan conditions before signing the agreement.
The Good Things About Payday Loans
Quick Cash: Most payday loan companies allow you to get your money in only two weeks. You can use the money as soon as you get it, which means it’s speedy cash.
No Credit Check: Most payday loan companies don’t check your credit before giving you a loan. That means you don’t have to worry about harming your credit score.
Easy Application: The application process for a payday loan is usually straightforward. You just fill out an application and give the lender some basic information.
The Bottom Line
If you need money quickly and have bad credit and no way to get a loan, you may want to consider borrowing through Alpha Loans. Our loans are quick and easy.