Frequently Asked Questions

Q1: What exactly is a payday loan?
A: A payday loan is a small unsecured loan, usually for $100 to $1,500, which is designed to meet your temporary financial needs until your next payday. Essentially, you are making out a check for the advanced loan amount, plus a fee, to be held until your next payday. This short term advance provides the cash needed to meet an immediate short-term cash flow problem. A cash advance is not meant to solve your long-term cash flow needs.

Q2: I've heard of payday loans described as numerous different terms. What are the differences?
A: Payday loans are also known as cash advance, short term loans, payday advances, cash loans, fast cash, fast loans, bad credit loans, deferred deposit, and a number of other things. No matter what you call them, payday loans can help get you through a  temporary financial difficulty.

Q3: I would like to get a payday loan. How do I receive my cash?
A: The payday loan / cash advance is usually deposited directly into your bank account.

Q4: What is the loan approval process?
A:  Once you have completed the application, you may be connected with a lender that matches your needs. Based upon information you provide in the application, each lender will determine whether or not they can offer you a cash advance. If you are pre-approved, you will be forwarded to the lender’s web site. If you are not pre-approved, we will try to present you with an opportunity to apply at another web site for a cash advance or similar product.

Q5: I have finished the application. When will the money be in my bank account?
A: Depending on the lender that you qualify for, the money can be in your account in as little as one day. You will be contacted by email or telephone shortly after you apply with follow-up from your lender.

Q6: How much money can I have advanced to me?
A: MyCashCentral will help you get anywhere from $100 to $1,500, based upon the information that you provide to us on the loan application. Amount advanced depends on your situation including but not limited to your income. Not all independent advance companies can provide you with up to $1,500 on your first advance, which is usually around $300.

Q7: What are the loan fees for the cash advance?
A: MyCashCentral works with a network of lenders whose cash advance fees vary depending on which lender you are matched with. Fees generally range from $15-$30 per $100 charged, or an APR of 300% to 800%.   Be sure to review the specific terms of the offer from the lender that can provide you with a cash advance.

Q8: I do not have access to a fax machine. What can I do?
A: Since MyCashCentral has faxless lenders in our network, you may not have to fax paperwork in. If however your lender does require faxing, you can simply go to your local Kinko's, Office Max, Office Depot, Staples, or Mailbox Etc. to use their fax machine. Keep in mind that a faxless lender usually takes longer to approve your loan, so a simple drive to a local fax machine can help you get your loan much more quickly.

Q9: Are you a lender?
A: No, we are not a payday lender. We are the connection between people seeking payroll advances and online payday advance providers who provide cash advances

Q10: Will you check my credit report?
A: The independent advance companies may verify your supplied information with any number of independent verification companies including but not limited to: CLVerify, Teletrack, or Accurint..

Q11: I am ready to get a payday loan / cash advance! Where do I go to apply?
A: Great! You can go to our online loan application and sign up today!