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- What is a payday loan?
- A payday loan (also known as cash advance) is a sum of money that you borrow now and promise to pay back when you receive your next paycheck.
- How much money can I borrow from Loans-Shop?
- You may borrow up to $1500.
- Do I have to have good credit in order to get a payday loan?
- No. You do not have to have a good credit in order to receive a payday loan.
- Why should I get a payday loan from Loans-Shop instead of one of the other payday loan lenders?
- Because you will always save money when you come to us for a payday loan and we will always treat you with respect.
- How long do I have before I must pay back my payday loan?
- Typically, a payday loan is repaid within 11-14 days. It is designed to be a bridge, or advance until your next payday.
- I have seen advertisements from other lenders for zero (0) percent interest. It seems to me I would save money with one of those lenders. Is that true?
- No. That is not true. Most of the money you pay back are for fees. It is possible for you to pay no interest at all and still pay more for a payday loan with our competitors.
- How do I save money with Loans-Shop?
- Our fees are lower than our competitors’. By charging you lower fees, we save you money.
- I know people who need a payday loan. Can I get something if I brought them to you?
- Yes. You will become what we call a “Referral Partner.” As a referral partner you would receive $10 for each person you refer to us. The person you refer to us must take out an original loan and pay the loan back in full. This does not apply to roll-over loans.
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Frequently asked questions