When choosing a payday lender there are many factors to consider including application length, approval time, funding time and whether or not the lender is licensed in your state. The loan amount available to you is also important because you’ll want to know if you’ll be able to cover your emergency expense before committing to the loan.
That being said, you should understand that the maximum loan amount available to applicants varies by state due to state laws and regulations. This means that loan amount isn’t a factor you should use as a comparison when researching payday lenders. For instance, even if you would like to borrow a $1,500 payday loan, you won’t be able to do so if you reside in South Dakota. The maximum loan amount available to residents in South Dakota is $500, so you would only be able to apply for a 500-dollar payday loan.
New Customers: Use Promo Code CASHNET25 on Your First Loan
Save 25% on the initial loan fee of your first payday loan or receive a 25% rebate on the interest or fees of the first two payments of your first installment or installment-payday
loan, respectively. Promo code not valid for the CashNetUSA line of credit product. +++
How Much Money Will I Qualify For?
You should also know that even if a 1,500-dollar payday loan or a $1,000 payday loan are the maximum loan amounts available in your state, you won’t necessarily qualify for those amounts. The loan amount you can receive will depend on certain qualification criteria, which is determined in part by the information you provide in your application.
So whether you are considering a $500 payday loan or hoping for a 1,000-dollar payday loan, you should understand that you might not be able to get the total amount you need to cover your emergency expense. However, a cash advance could help you cover part of it.
Managing your expectations early can help you figure out an additional solution to help cover your immediate expense. Or, if your expense is not quite so large, you may be able to successfully cover it with a payday loan. You can view the Rates & Terms for your state of residence to understand how much you can receive when applying for a loan from CashNetUSA.
Category: Payday loans