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  • To get a payday loan, you need to meet certain eligibility criteria
  • Taking out a payday loan requires you to be 18 years or over, a U.S citizen and have a minimum monthly income of $800
  • You will need to have a valid checking account to receive the loan


Everyone comes across financial pitfalls occasionally, but a payday loan can give you the lift needed to get back on your feet. Getting a payday loan online may be the quickest and easiest way of getting the cash you need in your circumstances. But, you may be wondering what you need. In this guide, we’ll help you run through everything you need to get a payday loan online.


What Do You Need To Be Eligible For An Online Payday Loan?

If you’re looking to get financial help from online loan sites, you won’t need much paperwork. Not only this, but the requirements for being granted an online loan are simple to meet. You just have to be over the age of 18, a U.S. resident and you need to have a consistent income with earnings at a minimum of $800 per month. Lastly, you are required to have a checking account that your payday loan can be deposited into.




To take out a payday loan you need to live in the U.S., be over 18 and prove that you can meet monthly payments

Basic Requirements for Payday Loans

Payday loans are known for being more flexible than traditional loans from banks. According to the Consumer Financial Protection Bureau (CFPB), the basic requirements for payday loans are a minimum borrower age of 18 years old, possession of an active checking account, and valid form of ID and proof of income. These vary slightly between different lenders but overall these are the basic requirements of any payday loan.


What Information Do You Need To Submit A Form?

You can submit a form for a payday loan with Pheabs online in just a few minutes. You will need to provide some basic personal information such as your address and date of birth to prove that you are eligible. You will also need to provide your bank details to show that you have an account which your loan can be deposited into. Before you can be approved for a payday loan, a series of checks are carried out to ensure that you will be able to repay your loan.


Do You Need A Guarantor?

You don’t need a guarantor to get a payday loan online. Whatever your circumstances are, Pheabs endeavours to find you the best loan and as quickly as possible. You can find a payday loan online with or without a guarantor. To find out more, have a look at our guide: Do I Need A Guarantor To Get A Payday Loan?


Do You Need A Good Credit Score?

You could find an online payday loan whether you have a good or poor credit rating. With Pheabs, you can get a payday loan even if you have poor credit. We accept loan request forms from people with all credit histories and endeavour to help everyone to find the money they need to stay afloat until payday. It’s still worth submitting a form with us if you have been rejected for a traditional bank loan because of bad credit! When you submit a form with Pheabs, you do not affect your credit score, and you will receive an instant decision, giving you the best chance of successfully getting a loan.


Who are Payday Loans For?

Payday loans are for anyone struggling to meet payments between pay checks. They provide money on a short-term basis meaning that borrowers can receive money very quickly in order to cover any emergency or unexpected payments that may arise before their next pay day. Particularly, payday loans are a good option for those with poor or bad credit score. More flexible than traditional lenders, borrowers can typically receive payday loans without meeting such strict criteria.


Further Limitations

The amount of a payday loan will vary depending on the borrower specifications and the state in which they are borrowing. Some states have outlawed payday loans completely whilst some have more strict laws regarding payday loans including interest rate caps. Depending on where you are borrowing, you may also not be eligible to take out a payment loan if you have multiple outstanding payment loans. Loan amounts can vary from as little as $50 to as much as $1,000 depending on the location.


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