How it work

A cash advance payday loan is a small, unsecured loan of between $100-$1000.00, that is backed by your paycheck. You will typically borrow this money for 15 to 30 days, and at the end of this period, you would have the flexibilty to either pay back the princicpal amount of the loan plus fees, or pay just only the fees and renew the loan for another period, or pay down on the principle amount of the loan and renew it until the next payday. Most cash advance payday loan companies would let the loan automatically roll over to the next period if you choose not to take any action on paying the principal and fees.

	You must be employed or receive regular income from a program such as social security or welfare
	If employed, you must make at least $1000 per month or $800 if you receive income through a government program
	You must be 18 years old as well as a citizen of the United States
	You must have an active savings or checking account that allows for direct deposit

If you meet all the above requirements, you will get approved. Once approved, the money will be deposited directly into your checking or savings account, and the funds will be made available for your use the very same day.

There are different fee structure charge by different cash advance payday loan provider, it can range anywhere from between $10 to $30 per $100 borrowed. On the average though, the fee charged by online cash advance payday loan provider runs around $20 to $25 per $100 borrowed.