Tiny Cash Fast Loans Los Angeles 3552 S Centinela Ave, Los Angeles, CA 90066 (310) 513-4566

 Tiny Cash Fast Loans Los Angeles
3552 S Centinela Ave, Los Angeles, CA 90066
 (310) 513-4566

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A payday loan (also called a paycheck advance or payday advance) is exactly as it sounds... a small, short-term loan that is intended to cover a borrower's expenses until his or her next payday.

Payday loans are only set up to cover the borrower until they receive the next paycheck from their job. It is typically only for a short term period of 7 to 14 days before payment in full is due. Legislation & Laws regarding payday loans can vary widely between different states and even different cities within a state.

There are some states and jurisdictions impose strict usury limits and limit the amount of interest a payday lender can charge. Some jurisdictions outlaw payday loans all together. Then some have very few restrictions on payday lenders.

Due to the extremely short-term nature of payday loans, the interest and APR can seem very extreme when compared to a traditional personal or signature loan that is normally spread out over a year or more.

In very simple terms for each $100 borrowed a typical payday loan could cost anywhere between $15, $20, $25 to as much as $35 depending on the company. So if you borrow $100 dollars today you are required to pay $115 dollars or as much as $135 dollars two weeks from today. This is why it is good to shop around and compare companies.

Loan Stores: Borrowers visit a payday loan store and secure a small cash loan, with payment due in full at the borrower's next paycheck (usually a two week term). The borrower writes a postdated check to the lender in the full amount of the loan plus fees. On the maturity date, the borrower is expected to return to the store to repay the loan in person, and the check is handed back. If the borrower doesn't repay the loan in person, the lender may process the check traditionally or through electronic withdrawal from the borrower's checking account.

If the account is short on funds to cover the check, the borrower may now face a bounced check fee from their bank in addition to the costs of the loan, and the loan may incur additional fees and/or an increased interest rate as a result of the failure to pay. For customers who cannot pay back the loan when due, it is always best to contact the payday loan company as soon as possible to workout an extension to keep from depositing the check.

Payday lenders require the borrower to bring one or more recent pay stubs to prove that they have a steady source of income. The borrower is also required to provide recent bank statements. Every company is a different when it comes to approval. But in general if you can prove you earn enough to cover it then the payday loan is approved.

Online Payday Services: Most people feel that going to a payday loan store is kind of an act of last resort. Sort of one step above a pawn shop and viewed as a sign of financial issues. For this reason many people seek a more discreet way of using payday loan services. Thus the dramatic increase in online payday loan companies.

Online payday loans are marketed through e-mail, online search, paid ads, and referrals. Typically, a consumer fills out an online application form or faxes a completed application that requests personal information, bank account numbers, proof of income, paystubs etc. The borrowers faxes copies of a check, a recent bank statement, and signed paperwork. Then the loan is approved.

The money is direct-deposited into the your checking account. If you the ability to fax from home then you never have to leave your home until you're withdrawing the money from the ATM. Extremely convenient!

And recently some online companies have even been advertising themselves as "no faxing is required".

The significant difference with online payday loan companies is that the loan re-payment is almost always done the same way it was given... through a electronic withdraw from your bank account. Therefore it is very important for you to be confident that the money will be in your checking account and the specific payment due date.

Obtaining a payday loan can be a welcomed option in many cases of unexpected emergencies like car repairs, heat goes out in the middle of winter, etc. etc. Also an alternative for people with poor credit because there are no credit checks. You only have to prove that you have the ability to pay back the loan.

However, it is important that you are fully aware of the total repayment cost... and confident you will be able to pay it... when it is due... BEFORE you accept the loan.


Here is what you need to know to get your online payday loan. When you are applying, make a checklist of these 10 secrets. See if you can match as many secrets to maximize your changes of getting approved or a payday loan.

1. Apply only at lender matching sites
On the internet there are two types of payday loan sites: Direct Lender and Lender Matching. Direct Lender sites are run by the actual lender where as lender matching sites collect loan applications and then submit them to many lenders on your behalf and match you with the best lender for your situation. Direct Lender websites only approve a small fraction of lender matching sites approve.

2. Apply only in the mornings
Your best chance to get an online payday loan is to apply on a weekday morning. Why is this? Because the call centers are fully staffed, and the lenders are hungry for loan applications. If you apply after 4pm, many lenders are auto-denying loan applications because they cannot full fill the payday loan because of ach cut-off times and call center staffing issues. Always apply for online payday loans in the mornings.

3. Never apply on weekends or holidays
Almost no loan applications are approved on holidays and weekends. This is for the same reasons as why you should apply on weekday mornings. So if you are paying bills Sunday night and you decide you need a payday loan, its best to wait and apply on Monday morning.

4. Only apply once per pay period
Many lenders will only look at your loan application once per pay period. They will auto-reject your loan application if they have tried to underwrite it in the last 2 weeks. The only acception to this rule is if you are using lender matching payday loan websites to apply. They usually can prescreen lenders that have already attempted to provide you a online payday loan.

5. Always provide references on the loan application
Many online payday loan applications do not require references, however, the big secret is many of the most reputable payday loan companies will score your loan application higher if you provide references.

6. If you and your spouse are applying separately for payday loans, you should use separate e-mail addresses
Many online payday loan lenders check for fraud by counting how many social security numbers are using the same e-mail address to apply for loans. The problem is married couples often use the same e-mail address. Some will accept 2 social security numbers, others do not. To be sure to get around this issue, have you and your spouse apply with different e-mail addresses.

7. Apply for payday loans during the holiday season
The holiday season is the busiest time of the year for online payday loan lenders. They know this fact, and they are prepared with extra staff and money to fund your loan applications. The worst time of year to apply or a payday loan? January. Online payday loan lenders are busy with the holiday hang over collecting on all the money they have lent. Many of the lenders reduce the number loan applications they fund during January.

8. If you had a payday loan in the past, go back to the same website to get another one
If you had a payday loan in the past and paid it off, you are a VIP customer. That means you get special treatment from your previous lender. They always relax underwriting for previous customers that are in good standing. Try not to go to a different lender if you fit this category.

9. If you are military or have benefit income, find a website specific for you
The reality is 99% of all online payday loan websites will not accept loan applications from military or benefit income customers. You will need to search the internet to find online payday loan website that will be able to meet your needs specifically.

10. Be smart when entering your next 2 pay dates on your loan application
Most online payday loan lenders will not fund a loan that is less than 4 business days. So if you are paid weekly or your next pay date is within the next 4 business days, consider applying with your second future pay date as your next pay date. This will increase your changes of getting approved.