Payroll loans are specially designed for the salaried class people
. As they are living on a single source of income, so it is difficult for them to face the unexpected expenditures at the mid of month, when half of their salary is exhausted. If you cannot wait till next payday to fulfil the sudden expenses, these loans are the best option for you. You can solve all your financial problems through these funds.
Payroll loans are capable of providing you the loan amount ranging from $100 to $1500. The repayment period of these funds is of 14 to 31 days. Do not fear about the rejection of application form, if you are a poor creditor. These loans are also available for the people holding bad credit scores such as arrears or bankruptcy. These loans are free from the procedure of credit checks.
There are certain requirements that must be fulfilled by the applicant to fetch these funds without any hassle, such as:
The applicant must be a permanent citizen of US
He/she must be an adult of 18 years or above
He/she must have a regular job with a steady income of at least $1000 per month
He/she must possess a valid and active bank account in his name for the transfer of loan amount.
The other good feature of these funds is its unsecured in nature, which is beneficial for tenants or non-homeowners. There is no need placing any asset or property as a collateral security against the borrowed amount.
If you do not have time to visit the lender's office for the application of loan, you can go for online mode. You are required filling an online application form that provides basic details about the borrower and submit it online. If the lender is satisfied with these details, he will transfer the loan amount into your bank account within 24 hours.