The Requirements to Get a Short-Term Loan
Our short-term loans can put much-needed funds in your checking account overnight, so you can cover a bill or other unexpected expense. If you’ve already used this service in the past, you might qualify for up to $1,000. However, when you’re new, you may wonder what the requirements are to qualify for a short-term loan. There are the three main requirements:
✓ Open & Active Checking Account
You must have an open and active checking account in good standing: For a short-term loan, you must have a checking account because on the repayment date our company automatically deducts the required payment from this account. This makes it essential that you can provide information proving that you have the checking account and the funds will be available. An overdrawn checking account is not considered in good standing because the short-term loan company can’t take its designated payment from the account.
✓ Proof of Income
You need to provide verification of your current income: You don’t want to borrow more with a short-term loan than you can afford to pay back, and we need to know that you can afford to repay your short-term loan. This requirement provides security and peace of mind to all parties. The easiest way to meet this qualification is to provide a copy of your weekly or bi-weekly paycheck stub.
✓ U.S Citizen
You must provide proof that you’re at least 18 years old and a citizen of the United States: As a short-term loan company, we’re subject to certain rules and regulations, including age restrictions on borrowers and their status as a citizen.
With only a few requirements for securing a short-term loan, you can go ahead and apply for your short-term loan today.
Contact us if you have any questions or concerns about these requirements.