How does a payday loan work?
Online payday loans provide quick cash
Net Pay Advance is a leader in online payday loans in California, Kansas, and Texas. For fast cash, an online payday loan or installment loan* from Net Pay Advance can help.
We're always here for our Texas, California, and Kansas customers.
We offer two types of no credit check loans — single-pay payday advance loans and installment loans*. Each is built to fit your needs. Learn more about our loan options.
Interested in an installment loan? Learn more information about our online installment loans.
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What is a payday loan?
A single-pay payday loan is a short-term personal loan that can help you between pay periods. This no credit check loan option is easy to apply for and simple to pay back.
Payday loans are designed to help everyday people get through in the time in-between pay periods. For most, payday comes every two weeks. Otherwise known as a cash advance, payday loans help cover unexpected or emergency expenses or cover a bill in the time in-between. An online payday loan from Net Pay Advance gives you access to your money before payday.
What are payday loans used for?
Payday loans have many uses. Mostly, a payday loan is treated as immediate cash to cover expenses up until your next paycheck. Commonly, payday loans are used for unexpected medical bills, car repairs, utility bills, or groceries, to name a few. But people also use payday loans to avoid late fees on everyday bills. Mathematically, a payday loan may make sense, depending on loan fees in comparison to the late fees tied to the bill.
What's the difference between a payday loan and an installment loan?
Online payday loans allow you to borrow a small amount, usually a few hundred dollars. Lending terms for a payday loan are a couple of weeks.
Online installment loans allow you to borrow a larger amount, usually upwards of $1,000. The borrower and the lender agree to repayment terms usually weeks or months long. Scheduled payments of a preset amount are paid back every pay period with an installment loan. Whereas a payday loan is repaid in one amount, usually at the borrower’s next scheduled payday.
How does a payday loan work?
With a single-pay payday loan online through Net Pay Advance, we give you the money. You use it as you need it. You pay back the amount borrowed (plus a borrowing fee) on your next payday.
Single-pay payday loans work with an individual due date that falls on your next payday. Usually, that’s between eight and 31 days after you receive your cash from Net Pay Advance. In most cases, you don’t pay us until you are paid.
No credit check is required, and the application process takes only minutes. Applications are processed quickly, and some may have their decision provided the same day. Net Pay Advance deposits your cash into your account as early as the next day. Then you repay the loan in a single transaction following your next payday.
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How fast is the approval process for a payday loan?
Our application process takes about five minutes at most to complete. From there, our team will review your loan application and have a decision on your approval usually in 15 minutes or less. Then you’re a signature away from having your money.
How quickly are the funds deposited?
Approved applicants will usually see their funds deposited next day — excluding weekends and bank holidays. Typically, your money is there by 10 a.m. local time. But that’s dependent mostly on your bank, and not Net Pay Advance.
How does repayment of a payday loan work?
Repayment of a payday loan is fast and simple. You will link your bank account information at the start of the loan process. Then you’ll use your checking account to receive and repay your loan. Net Pay Advance will automatically deduct your loan payment on the scheduled due date, unless you should request an extension. There’s little required on your end, taking away the stress of any extra work or hassle.
How much does a payday loan cost?
Rates differ by state. Fees totals are applied to every $100 of the principal, or borrowed, amount. Plus, the fee is consistent throughout the loan process, assuming your repay on-time.
Visit us here where we list our rates and terms to learn how much a payday loan costs.
Payday loans are commonly evaluated by their annual percentage rate, or APR. It’s the total cost of the loan expressed as a yearly rate. These numbers decrease when a loan term is longer, and increase when it’s shorter. But the reality is dollars and not percentages. Single-pay loans are paid in a matter of days, and not over the course of a year.
Am I eligible for a payday loan?
Payday loans are available to applicants with no credit check required. Instead, Net Pay Advance requires that applicants meet a set criteria.
Please note that the criteria above is required to apply and does not automatically qualify or guarantee approval of a loan.
Applications process quickly online through Net Pay Advance. Approved applicants may see their cash deposited the next day.
Unlike others, payday loans from Net Pay Advance do not require (nor accept) collateral.
Do payday loans require a credit check?
Nope. Not a one. Net Pay Advance provides installment loans with no credit check required. We believe financial assistance should be available to everyone — including those with bad credit or no credit.
A number of Americans have poor credit. Others have invisible credit or are credit unscorable, meaning there isn’t enough data to score them. That usually makes it difficult for them to obtain financial assistance. Net Pay Advance caters to more with no credit check payday loans.
Do payday loans affect my credit score?
Nope. Not at all. Loans from a payday lender like Net Pay Advance will have no effect on your credit score. Paying back the loan won’t help raise your credit score. Likewise, failure to pay back a payday loan also won’t lower your credit score. Though that’s not the case with all payday lenders. Some payday lenders may use a third-party collector, who then could report to crediting agencies should you default on the loan. But Net Pay Advance doesn’t use a third-party collector. Therefore, your credit score remains unchanged — no matter the circumstance of your loan.
How can I get a payday loan online?
Net Pay Advance makes getting a payday loan online quick and simple. To get started, visit Net Pay Advance and follow the application instructions. Our application process takes a few minutes, and you may have a decision as quickly as the same day.
Can I apply from my phone?
Absolutely. Net Pay Advance has taken our same great online service and brought it to our own app. Now you can access everything you need right from your phone. In the app, you can apply for a loan, check your loan status, change your due date, and much more.
When will my loan be approved?
You should receive a decision on your loan application the same day. Typically, applications process in about 15 minutes or less. Applications are reviewed during normal business hours, Monday through Friday.
How soon will I have my cash?
Your money is transferred via a direct deposit bank transfer. Deposits typically show active in your account after 10 a.m. local time the next day. But some banks may take a little longer, dependent on their schedule. Transfers may not process on weekends or bank holidays.
Net Pay Advance offers instant funding to residents of Kansas. Approved applicants may receive same-day funding.
Please note that to receive next day funding, applications must be processed during regular business hours. Applications submitted after 7:30 p.m. Central Time will be processed the next day.
What are the terms of a payday loan?
Single-pay payday loans through Net Pay Advance have a length term of seven to 31 days. We (typically) don’t ask you to pay us back until after you have been paid. Net Pay Advance customers are offered a free three-day extension, which allows customers up to three days beyond their length agreement to repay their loan.
Eligible borrowing amounts start at $100. Up to $1,000 may be accessible in your area. No late fees apply to single-pay payday loans from Net Pay Advance.
What if I can't pay back my payday loan?
Terms of a payday loan align with your pay schedule. Intentionally, these are designed so you can plan for the payment. Net Pay Advance works with you, should you not be able to cover your payment on the due date. We give all customers access to a free three-day extension. You may call one of our representatives to request an extension.
Is a payday loan right for me?
Single-pay payday loans are flexible and are easy to obtain. Net Pay Advance works to match our customers with a loan fit for them, with the right loan length and loan amount.
A payday loan online from Net Pay Advance gives you early access to your money. Plus, it does so without necessary credit checks, like you’d see with a personal loan or credit card. Payday loans allow you to keep cash on-hand for other purposes, instead of tying up all your money at once. Our customers like payday loans to help split up payments for a purchase. Other times, they might be used for an unexpected expense, like a medical bill or car repair.
Net Pay Advance is looking out for you. Our focus is to help you cover necessary expenses before payday, all the while keeping you out of debt. Most people only need $250 to make ends meet. Why make them wait for it?
Net Pay Advance will establish a repayment schedule with you during the loan agreement stages. In this process, we’ll evaluate your pay schedule, coupled with other factors like your principal amount, to outline a repayment schedule that works best for you. Once you agree to terms of repayment, Net Pay Advance will deduct the payment from your checking account as scheduled, usually on your payday. Payment totals are fixed, to make for easy planning. Repayment plans for an installment loan may extend to 180 days.
About Net Pay Advance
Net Pay Advance is an online personal loan provider, founded by Brian J. Staver in 2007. Our organization is designed to utilize secure technology to help others financially. Today, we stick to the same three missions we had from the start.
- Simple procedures
- Secure operations
- Trusted staff
At Net Pay Advance, our No. 1 priority is helping you, the customer, get access to the cash you need, quickly. People borrow from us to cover their expenses before their next paycheck comes. Then they pay us back when they’re next paid. Net Pay Advance provides cash assistance with no credit check required.
Thousands join our community every day and break free from financial stress.
When you lend with Net Pay Advance, you get the secure, trusted reliability of an organization recommended by 6,000-plus and counting. See why Net Pay Advance is the highest-rated online short-term lender on Trustpilot. Plus, we’re accredited by the Better Business Bureau, where we have an A rating.
Disclaimer: Installment loans are only available to residents of Texas. Net Pay Advance is a licensed credit access business. Installment loans are provided by a third-party lender.