If you feel lost with many questions about the cash loan industry, then you have landed in the right place. Here is a list of frequently asked questions reading the loan process and obtainability.
What is a short-term payday loan?
A payday loan, paycheck loan, or cash advance are the many names for this short-term loan. A payday loan is simply a loan that you take out for a few weeks to help you withstand until your next paycheck comes along.
What is the maximum amount to borrow?
LoanPlusUSA can offer up to $2,500, however, the exact amount borrowed can be further refined once you connect with your lender. Moreover, some loan amounts can fluctuate depending on the state in which you reside, whereby some state laws dictate differently.
How will I get my money?
The money requested, once approved by the lender, will be directly deposited into your bank account in one or two business days.
What if I have bad credit?
A bad credit score is not an obstacle when it comes to obtaining an online payday loan. Even if the borrower holds a low or bad credit score, this will not hinder their eligibility for the loan or change the lender's decision.
Do I need to present collateral?
No, LoanPlusUSA only provides unsecured loans in order to further facilitate the loan process and assert their borrowers. There will be no need to put up any collateral.
Are these loans legitimate?
At LoanPlusUSA, we exclusively work with licensed lenders and under state laws. Which makes the loan utterly safe and legitimate.
How are the repayment periods and terms?
The loan repayment terms and conditions depend on the state laws in which you reside, however, the loan repayment term remains somewhat fixed. The loan is built to be short term and ideally paid back within two weeks, or your upcoming paycheck.