Tips For Getting A Payday Loan When You Do Not Meet The Normal Requirements

Most cash advance lenders have several conditions applicants must meet in order to qualify for payday loans; however, there are ways you might be able to still get a payday loan if you do not meet these requirements. Here are three of the most common conditions required by most lenders that offer cash now loans and some tips to help you qualify for a loan even if you do not meet these conditions.


When you apply for a payday loan, the lender will ask you a series of questions. You will automatically get denied the loan if you are not at least 18 years old, but there are other questions that have some flexibility. One of the questions is where you work.

The lender will want to know the name of your employer and the amount of money you earn per pay period, and they may even ask you for copies of your most recent paystubs.

The lender will most likely conduct an employment verification to ensure that you really do have a job. An employment verification usually requires a phone call to your employer, or the lender might fax a form to your employer.

Having a job will prove you have a way to repay the loan, and the amount of money you earn per week will help the lender determine how much money you qualify for.

Proving that you are self-employed is not as easy as proving you work for a company, unless you receive regular paychecks from your business. If you do not receive paychecks, the lender may ask for copies of your bank statements to verify that you actually are depositing money on a regular basis.

No Job

If you do not currently have a job, you may still be able to get a payday loan by finding a lender that does not complete employment verifications.

With no employment verification loans, the lender will typically require that you have a checking account. This will be used for depositing the funds and taking the payment when it is due.

Keep in mind that when a lender issues a loan to a person without a job, the lender assumes a high risk that the person will not repay the money. This risk may be reflected in the interest rate the lender charges you. A normal payday loan that lasts for two weeks often has an interest rate between 391% to 521%, but some lenders charge even more than this.

No Checking Account

Most lenders also require checking accounts when issuing payday loans. When an applicant has a checking account, it makes it much easier for the lender to get the money back when it is due. Some lenders do not have this requirement; however, they may ask you to:

  • Prove your address – This may require more than handing over your driver's license to the lender. You may also have to show copies of utility bills or other bills that are in your name, and that show your current address.
  • Provide extra references – Most payday lenders ask for references, but you might have to give more than just a couple if you do not have a checking account.

No matter what your situation is, you might be able to get approved for a payday loan. Using payday loans to get by is a good idea when you are in a bind; however, they can be expensive if you cannot repay them on time. Make sure that you have a plan to repay the loan if you decide to borrow money from a payday lender. To learn more about payday loans, contact a lender in your area or online. For more information, see a website like