Step 1: Submit your application

The maximum loan amount varies by lender and state regulations, but typically ranges from $300 to $1,000. Many lenders offer smaller sums like $100 or $200 for first-time borrowers or those with limited income.

While requirements can vary, most lenders require you to be at least 18 years old, have a steady source of income, an active checking account, and a valid form of identification. Some may also consider your credit history but bad credit does not automatically disqualify you.

Payday loans are short-term loans designed to be repaid with your next paycheck, usually within 2 to 4 weeks. Some lenders may offer slightly longer terms of up to 45 days, but the loan periods are meant to be brief until your next pay date.