Cash Advance Requirements

You may be familiar with the loan option called “cash advance” or “payday loan.” These loans, which have become extremely popular in the last several years, are available in most states in the U.S. While the requirements to get one of these loans vary from state to state, they have certain basic similarities.

You must be at least eighteen years old.
You must be a U.S. resident.
You may need a working phone.
You must have a full time job or other source of regular income.
You must have a minimum monthly income of $800.
You must have a checking account.
You must have your paycheck deposited directly into that checking account.
You must not have any outstanding cash advance or payday loans.

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If you get the loan through an actual storefront, you should take some proof that you meet these requirements with you. For instance, you may need a driver’s license or other photo ID, a birth certificate, or a social security card to prove that you are old enough to get the loan and that you are a U.S resident. You will also need to bring proof that you have a job (for instance, pay-stubs). You should bring your checkbook so you can write the loan company a post-dated check, as well.

If you are getting your loan through an online loan company, you will probably need to fax copies of these same documents to the loan company office. The online loan company is bound by U.S. privacy laws, so your information will be secure with them—but it is important that you make sure you are dealing with a reliable company.

Research the requirements for the loan and have copies of the necessary documents handy so there will be no delays when you need your cash.

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* Cash-Advance-USA.org provides information and research on cash advances/payday loans. We are not a payday lender or broker, nor are we necessarily affiliated with the companies profiled on this site. Not all products and services are available in each state.