People go to the bank to get loans for a variety of things. Things like taking out a mortgage, getting a loan for a car, getting a personal loan for a holiday or to get some new furniture. There is one thing that all of these have in common, and that is the amount of the loan.
When people go to the bank for a loan, they’re looking to take out at the very least four digits, sometimes more, like in the case of mortgages, you’re looking at six digits. Banks are not good for small loans, for things like covering a bill until payday at the end of the week. No, for things like that, you need to look elsewhere.
That’s where small payday loans online come in. Payday loans position themselves uniquely in the market by offering small cash payday loans on a short-term basis, meaning that if you just need a quick bump, it’s a perfect option.
We’re talking in the hundreds here, and the loan only lasts until your next payday, then you have to pay it back. So if you get yourself into a position where you need to, say, get your car repaired, or go to the doctor, and you don’t have the cash, taking out a small payday loan is going to save you a lot of bother.
Just how small of an amount can you take out, you might be wondering? Well, there is no minimum limit from place to place, that’s at the discretion of the lender, but there is a maximum limit in each state.
It’s also worth pointing out before we go into that that payday loans are actually prohibited in several states, so before you go looking for a loan, just make sure that you can actually get one where you live.
Rather than bore you with a long and comprehensive list of the states and the maximum loan amounts in each, all you need to know is that the vast average is $500 dollars. Yep, that low. So that should give you an idea of exactly what purposes a payday loan is designed to serve.
That’s not to say that you want to be borrowing $500 dollars every time you get a payday loan, though. Small payday loans are designed to get you out of a sticky situation in the short term. Say, for example, you don’t get paid until the end of the month, which is next week, but in the meantime, your car gets a flat. You bring it to a mechanic to get it fixed, and it turns out you need an entirely new wheel. He hands you a bill for $300 dollars. Now it’s coming up to payday, so you don’t have that kind of money lying around, so what do you do? Get a payday loan.
Is There Small Payday Loans Online for Bad Credit, or with No Credit Check?
Aside from the small amount, the other thing that payday loans marketing themselves on are how friendly lenders tend to be towards people with bad credit.
That’s bad credit, though. If you’re looking for a small payday loan online with no credit check, then you’re going to be in for one hell of a search.
Most payday lenders, at the very least, perform a soft credit check on you, and it’s impossible to tell when one does or doesn’t. So you’re going to have a hard time getting a payday loan with no credit check.
However, you can get plenty of small payday loans online for bad credit. Given that the amount of money involved is typically so low, and the loan isn’t going to last that long, the risk for the lender is minimal, meaning that you’re going to have an easier time getting approved with bad credit then you would with the likes of a bank.
However, on your search for a small payday loan for bad credit, chances are that you are going to get turned down by a few lenders, it’s just the nature of the world. You shouldn’t let that turn you away, though. Persevere and keep applying and eventually, you should find a lender that is going to approve you.
That’s all well and good, but if you do that, then you’re going to be spending hours on end filling in application forms, and nobody on earth wants to do that. Luckily for you, there is a faster way to go about it.
Online, you are able to find what is called a matching service. What that is, is a service that matches you with one of the dozens of payday lenders that we work with, where your loan is preapproved, meaning your chances of getting a payday loan are higher when you use one, especially if you have a bad credit score.
It also saves you a lot of time, effort, and energy. You see, with a matching service, you only have to fill in one application form. The service then takes that form and give it to the lenders that it works with one by one, passing it along the chain until one of them agrees to give you the loan. That essentially means that your loan is preapproved, and all you have to do now is go and finalize the terms with the lender.
There is also the added benefit of the fact that most matching services only work with reputable payday lenders, so you don’t need to worry about anything on the security end of things, the lender that we match you with is going to be completely safe and legitimate.
So if you want to save yourself what could be hours of wasted time and effort, maximize your safety, and give yourself the biggest chance at getting a loan as you can, consider using a matching service instead of applying to lenders directly.
Where can you find a matching service you might ask? Well, right here! Our site is home to our very own matching service. It has all of the benefits we talked about before, so if you’re stuck for a bit of cash, consider using us! As we said, it’s only one form, fill that in, and we do the rest. So if you’re looking for a small payday loan, no matter the size, use our matching service and save yourself all the trouble that you’re going to have to go through otherwise!