An installment loan is a type of loan that is repaid over time with a set number of
scheduled payments. These are typically monthly, but Payday Cash Connect, INC.
offers weekly and bi-weekly options.
How is an installment loan different from a payday loan?
Installment loans are paid back over time in multiple payments, while payday loans are
typically due in full on your next payday. Installment loans also usually have lower
interest rates and longer terms.
How much can I borrow?
Loan amounts vary by state and your eligibility but typically range from $100 to $1,000
for most borrowers.
What are the eligibility requirements?
To apply, you generally need to:
Be at least 18 years old (19 in some states)
Have a valid government-issued ID
Have a verifiable source of income
Have an active checking account
How do I apply for a loan?
You can apply online in a few minutes by completing our secure application form. We’ll
ask for your contact, income, and banking details to verify your identity and ability to
repay.
How long does approval take?
Most customers receive a decision within minutes. In some cases, we may need
additional documentation to complete the review.
How quickly will I receive the funds?
If approved, funds are usually deposited into your bank account same day or the next
business day. Same-day funding may be available depending on your bank and when
you complete the application’s cutoff time.
What is the APR or interest rate on my loan?
APR varies by state and loan amount. Rates will be clearly disclosed in your loan
agreement before you accept the terms.
Are there any hidden fees?
No. All fees and costs will be clearly disclosed in your loan agreement in accordance
with the Truth in Lending Act (TILA).
Can I pay off my loan early?
Yes. You can pay off your loan early at any time with no prepayment penalties.
What happens if I miss a payment?
If you miss a payment, you may be charged a late fee, and your account may accrue
additional interest. It may also impact your credit with Payday Cash Connect, INC., and
we may initiate collections activity.
Is my information secure?
Yes. We use bank-level encryption and secure servers to protect your personal and
financial information.
How does repayment work?
Repayments are automatically debited from your checking account on the agreed-upon
schedule (e.g., weekly, biweekly). You’ll receive reminders before your due date.
Can I refinance or extend my loan?
This depends on your state laws and company policies. Contact customer support to
explore available options.
Do you check my credit?
No, however, in some cases, we may use alternative data to assess your ability to
repay.
We may collect information about your device’s approximate or precise location, with your consent, to verify
your identity, prevent fraud, or comply with applicable legal obligations. You may control location
permissions through your device or browser settings.