Frequently Asked Questions

Do you charge any fees?

No, we do not charge fees for making a loan request with Pheabs. We work on a commission basis with our lending partners and may receive a commission if your submission is successful. But you can be rest assured that if you submit an enquiry, you will not be charged anything by Pheabs.

What is a payday loan?

A payday loan is used to cover short term and emergency expenses – the idea is that you receive the money upfront, in one lump sum and then pay off the loan in full in a couple of weeks on your next ‘payday.’

With Pheabs, you can borrow $100 to $35,000 depending on your credit score, income and affordability. You can repay over 1 to 60 months depending the loan size. When making a loan request, funds can be successfully sent to your bank account in 24 hours or less.

Am I eligible?

The eligibility criteria with Pheabs is:

  • Be a US citizen
  • Over 18 years of age
  • Have a live checking account to receive funds
  • A steady income of at least $800 per month
  • Bad credit considered
  • Able to make repayments

Will this impact my credit score?

No, making a loan submission will not impact your credit score in a negative way. Credit checks will be carried out as part of the approval process, but will not be negatively impacted. Your credit score will only worsen if you are accepted for a loan and struggle to make repayments on time, putting your account into arrears. Equally, if you make repayments on time, this could make your credit score improve, however, payday loans should not be seen as a way to boost your credit score.

Which states do you operate in?

We currently operate in the following US states and we are in the process of adding more locations, so be sure to check your eligibility using our loan form provided:

Alabama

California

Colorado

Florida

Illinois

Indiana

Iowa

Kentucky

Louisiana

Maryland

Ohio

Tennessee

Texas

How long does it take to submit a loan enquiry?

Any loan requests are made 100% online through Pheabs and you can get started here. You can fill in your details in less than 5 minutes and get an instant decision on the screen. If successful, funds can be transferred within 24 hours or the next business day.

Do I need to give my bank details?

Yes, we will need you to enter your bank details so that we can transfer the money to your back account when you are successfully approved. We promise that your details are safe and we will not pass on your bank details or any other information to any third parties without your permission.

How long will it take for the funds to reach my account?

Money can be sent to your bank account within 24 hours (or sometimes just a few hours). As a standard, we say that you should be able to receive funds on the next business day.

What happens if I make a late payment?

If you miss your scheduled repayment or are late, you may be charged a late fee and this could negatively impact your credit score.

If you think that you will have trouble repaying this month or next, it is important to speak to your lender as soon as possible – as they can usually help you and reduce any late fees or damage to your credit rating.

How do repayments work?

Repayments are collected automatically from your bank account, on a scheduled date that you have agreed with the lender. You will be sent reminders on the days leading up to repayment so that there are no surprises. Repayments are made each month over a period of 1 to 60 months, depending on the size of your loan.