Dodge City, KS, 4th Dec 2021, ZEXPRWIRE, The payday loan concept has been around for centuries. However, it only recently has become a controversial subject in America. Today, there are many payday loan lenders as discussed here However, not many people seem to know whether these loans are a suitable option and when to use them. 

In an effort to make people understand payday loans, has shared a complete guide on everything about them. is a large-market media San Francisco site offering great and informative news on classifieds, open public forums and searchable archives. The company offers a mix of everything including culture, entertainment, travel, food and drink among other exceptional news and articles. Take on Payday Loans 

Defining payday loans, stated that this is a short-term, small amount of money lent out to borrowers. Further, lenders give the loans in exchange for the borrower’s promise to repay them at their next payday. 

So, where is the catch? Despite appearing easy to acquire, payday loans come with a high-interest rate. This is what had to say, “The interest rate varies from state to state. However, it’s a relatively high amount compared with other types of loans. The fees are also on the high side, often equalling 15 per cent or more of the original principal ($15 for every $100 borrowed).”

Guide to Payday Loan application

Part of the information shared by was on how to apply for a payday loan. Different lenders have different requirements. However, here is general information on what you should know: 

  • You must be 18 years and above
  • You should have a checking account 
  • Have a valid ID
  • You should show proof of income 

That is all you need. Additionally, you have to submit an application. It is a simple procedure that does not involve a lot of paperwork. The lender will check your details against the provided information and determine whether you qualify for a loan. Most importantly, they will use the information to determine the loan amount you qualify for application. 

According to, lenders require borrowers to have an active checking account and show proof of employment for at least three months. The maximum term length is about two weeks, after which time the full balance becomes due. 

Over and above that, here is some more information that you need to have when applying for a payday loan:

1.Is there more than one type of payday loan?

Answering this question, confirmed that there is more than one type of payday loan. They went ahead to say that there are two primary types of payday loans: direct and indirect. 

With a direct loan, you borrow money from the lender and the lender gives you cash. For indirect loans, also called “payday advances,” borrowers can arrange with their employers to have part of their paycheck (usually wages earned but not yet paid) given directly to the lender for payment on the loan. These arrangements happen in some states but not others. 

2.How much can I borrow from a payday lender?

Although your credit score is not an important consideration when applying for a payday loan, you need to provide proof of ability to pay. Lenders have algorithms that they use to determine the amount of money they can borrow. Most importantly, it all depends on your paycheck. They usually conduct some due diligence before issuing out the loan. 

3.Can I roll over a payday loan?  

In California, if you have three consecutive loans from the same lender, they must offer you a repayment plan before they give you your fourth loan. You may also be able to rollover your loan, which means you can get another loan to pay off the first. Some lenders charge fees for rollovers, but others may let you do it without charging extra fees. 

Payday Loans are an option for your finances! 

As the leading source of local news and information, has a mission to enlighten people about the marketplace among other things. The company believes that payday loans is one of the hotly contested topics that requires a revisit. The guide to payday loans sparked a lot of interest to different parties who wanted to establish whether it is a viable option for them. 

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Dan Sinclair
4628 Ridge Road
Dodge City, KS 67801