Payday Loans

Payday Loan Requirements

Looking to take out a payday loan? Find Me A Loan Today can help put you in touch with a suitable lender! Find out the payday loan lending criteria below.

Should an unforeseen expense crop up - anything from a car repair bill to having to replace an essential kitchen appliance - a payday loan can be a good way to cover the cost, if you don’t have the money saved. 

Before you start looking into any loan options though, it’s always sensible to check whether you meet the basic eligibility criteria. With short term and payday loans, you may be surprised to find that you meet these requirements, even if you’ve been turned down by lenders in the past.

So what are the lending requirements for payday loans? These can vary slightly depending on the loan provider, but for the most part, all payday lenders have the same basic eligibility criteria. 

Payday Loan Eligibility

When it comes to payday loan eligibility requirements, most lenders ask that you at least meet the below criteria:

  • Be a US resident
  • Have a regular income
  • Be aged 18 or above
  • Have a valid US checking account

Even if you have bad credit, if you meet these requirements, you may be eligible for a payday loan.

When people are looking into their loan options, they will often search for things like payday loans online, soft credit check, instant decision, no faxing loans or no checking account loans. Depending on your situation, certain types of payday loan may appeal more, though it’s always important to check that you’re working with a reputable lender. 

Find Me A Loan Today can help you find a payday loan of up to $5,000. Simply complete our short online loan request form, and you should get an instant loan decision on screen. If approved, most lenders in our network aim to pay out the funds as soon as possible, as they understand that in an emergency, you’ll need cash fast. 

woman with a USA flag

States With Payday Loans

Not all states have the option of payday loans, so if you need to take out short term credit, an installment loan can be a good alternative. The states that payday lenders operate in are as follows:

  • Alabama
  • California
  • Colorado
  • Florida
  • Illinois
  • Indiana
  • Iowa
  • Kentucky
  • Louisiana
  • Maryland
  • Ohio
  • Tennessee
  • Texas

You’ll need to have your permanent address in one of the above states to take out a payday loan - you’re not able to travel to a payday loan state in order to borrow from a payday lender. 

No Checking Account Payday Loan Requirements

Not all payday loan providers require you to have a checking account, though it can be more difficult to take out a payday loan without a valid account. Most lenders pay out the loan directly into your checking account, so you would need to find a lender that pays out cash loans instead. 

So if you’re looking for payday loans without checking account requirements, you may need to look into bad credit payday loans. These can sometimes be referred to as cash advance loans, as they work in a similar way to credit card cash advances.

woman at a cafe talking on the phone

Bad Credit Payday Loan Requirements 

In terms of having a good credit rating, payday loans are often more flexible than other forms of credit. Many payday lenders understand that your credit score is not always a good indicator of how you manage your finances. 

For example, negative marks on a person’s credit report can be due to a challenging life event, such as losing their job. It’s common to fall behind with your repayments in such circumstances, which can lower your credit score.

That’s why short term lenders will often assess your affordability as well as your creditworthiness. They’ll look at things like your monthly income and expenditure, as well as your employment history, when making a loan decision, not just your credit history. 

So even if you have bad credit, you may still be eligible for a payday loan. For a free, no obligation quote, that won’t impact your credit file, simply click the button below.


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