Bad Credit Payday Loans FAQ

What is a payday loan or a cash advance?

A payday loan is a short term financial device intended to help people cover their bills or unexpected expenses during a temporary loss of income or a time of financial duress. Payday loans are secured against a future source of income such as a paycheck or a government stipend that are deposited directly into your account within 24 hours of a completed application.

How does a person become qualified?
Payday loans are one of the easiest types of loans to qualify for. All you need to do is meet all of these requirements:
- Have a job or a regular source of income
- Your monthly income is at least $1000
- Have an active checking or savings account
- You are at least 18 years old as well as a United States Citizen

How long does it take to get my loan?

Applicants will receive approval anywhere between a few minutes and a couple of hours. After that, funds will be electronically transferred into your back account overnight.

What if my credit is bad or I’ve filed for bankruptcy?

Because payday loans are secured against your paycheck there is no need for a credit check, so whatever your financial situation is like there’s an excellent chance you’ll be approved for a loan.

Do I need to have direct deposit enabled on my account?

Yes. This is the best way to ensure the fast transfer of funds to your account.

Do you charge any sort of application fee?

Power Payday Loan does not charge an application fee.

Is it safe to apply for payday loans online?

Absolutely. Please see our security page for more information on this subject.