Frequently Asked Questions

Preferred Payday Loans Responds to all Your Questions.

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Frequently Asked Loan Questions

For the majority of our clients this web site maybe the first time they are looking into a payday loan option. Because of this we provide the Quick Start Guide to the left as a way to get answers to the most common of questions we receive from clients. However, there are many other questions we hear from clients and as a result, we have provided the information below for our clients to review.

What is the cost to me?

The cost is $30 for every $100 that you borrow. This don't include any APR fees if you cannot pay the loan in time. Please see your loan paperwork for this information.

How soon do I get my money?

Once approved you can receive your cash advance the next business day. If your application is received, it can be approved the same day and the funds can be released the following day.

What documents do you need from me?

No documents at all, we provide faxless payday loans so you never have to look for a fax machine.

When do I hear from your company?

After you have completed the application, you will hear from a loan specialist within 1 hour of our receiving this information.

How do I get Paid?

Funds will be released to your bank account the next business day.

How do you I pay the money back?

The money is paid back via your checking account, the funds are taken out of your account on your next payday. If you next payday is less than 7 days away, we will take it the following payday.

What about if I request a loan on Friday or Weekend?

The application will be processed the next business day and the funds will be released the following day.

How much can I get paid?

First time clients receive $300 and can receive an addition $100 for each successful loan. The maximum amount a client can receive is $500 per loan

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