Payday loan and cash advance requirements

To get a payday loan you must meet the following non-strict requirements, which usually vary from one loan company to another. If you are applying for $500 payday loan, the requirements may be not that strict, but that is not the case with all payday loan lender companies.

Typical requirements for online payday loan are:

• age of 18 years
• must be US citizen or atleast resident
• must have an active US based bank checking account
• must have a regular income larger than 1000 per month (after all taxes)

Some, but not mandatory requirements asked by some payday loan companies:

• checking account must be older than 90 days
• 30 day bank account statement (some providers accept on-line statements as well)
• NO bankruptcy filling in the last year
• pay stub if you do not have checking account or can't provide bank account statement
• Void personal check
• ACH authorization form for automated re-payment of loan
• a copy of valid ID (driver license, passport)
• proof of residency (utility bill, lease agreement, mortgage document)
• USA resident with a valid Social Security Number (SSN)

If the lender company doesn't approve you online they can ask you to submit required paperwork via fax.