What Are Payday Loans?

Sometimes life just bites you in the butt. Not only did Bill Day come and go and leave your wallet practically empty, but there was a medical emergency or an accident or your car just decided to break down that completely threw your budget out of whack. Life is messy and full of hurdles and sometimes you just need a little help to get back on track. One such method to help dig yourself out of the rut is by taking out a payday loan. However, for some, you may not be familiar with what exactly a payday loan entails.

Essentially, a payday loan is a short-term loan that’s usually written for a small amount. While the actual amount varies, the average is usually around $500. As its name might suggest, the loan is typically expected to be paid back by your next payday period, so the term is typically two to four weeks from which you borrowed. They do not come without its consequences, of course. Payday loans typically have high interest, so you can expect to pay a significant amount back, dependent upon how much you borrowed in the first place. Certain states regulate the fees and interest percents that payday loaners are allowed to use.

The Requirements

If you’re in need of payday loans Georgia, then here are the requirements you can expect to have to meet before you are allowed to borrow money at Speedee Cash. You must at least be 18 years of age. You must also possess a government-issued photo ID. When you arrive at the loaner, you’ll need to have a personal check that they will hold onto. A recent bank statement will also be required as well as a checking account that is open an active. Finally, you will need proof of income such as a pay stub, bank statement, or social security benefits letter.

If you need cash quickly to help yourself out, then consider a payday loan.