Loanza’s Frequently Asked Questions

A payday loan is a small loan that’s designed to help with short-term emergency expenses.

With a payday loan, you borrow money quick that you repay in full (one lump sum) with interest on your next payday, or alternatively in a few repayments over a couple of weeks.

These days, however, the term payday loan is often used to refer to small short-term loans, that you can repay over 3, 6, 9 or 12 months.

With Loanza, you can borrow $100 to $35,000 and repay it over 1 to 60 months, depending on the loan amount. Our lenders understand the urgency and often fund loans in less than 24 hours.

To be eligible for a payday loan in the US, you need to meet the following criteria:

• Be a US citizen
• Be over 18
• Have a checking account
• Have a stable income 

You don’t need to have good credit to be eligible for a payday loan, but you do need to be able to afford your loan repayments.

You can borrow any loan amount online with Loanza from $100 to $35,000. Starting from $100, $200, $300 up to the thousands $1,000, $2,000, $5,000 all the way to the tens of thousands $10,000, $25,000, etc.

Yes, we will ask you to provide your bank details, because lenders need this to transfer your loan into this account. So make sure you give the details of the account you’d like to get your funds deposited into.

Don’t worry, Loanza keeps your information safe and secure, and will never charge you any fees or pass your details on to any third party without your consent.

Yes, you can. Bad credit and no credit history is considered for payday loans. Loanza works with a large number of lenders who offer bad credit loans. More important is the affordability: Can you afford to repay your loan?

Calculate your monthly income minus your monthly outgoings to understand what is the maximum monthly loan repayment you can safely afford  Apply for a loan amount and term with this in mind for higher chances of approval.

It only takes a few minutes to fill out our online loan request form. You can get started here right away.

Complete the application form with your details and get an instant decision (ie. instant connection with a lender who is interested in lending to you). 

No, Loanza never charges borrowers any fees for using our services. You can submit a loan request with us for free at all times.

We get compensated by our lending partners for successful connections, but for our customers, we are always free of charge.

No. Loanza’s loan search will not impact your credit score. There may be soft credit searches carried out, but these are only visible to you and not to lenders, and they have no negative effect on your score.

Your credit score is only in danger if you take out a loan and fail to make your repayments on time. Similarly, if you make timely repayments, this could actually improve your score. However, you should never consider payday loans as a way to build up your credit score.

Money can be transferred to your account in less than 1 hour, a few hours, 24 hours, the next business day or in 3 to 5 days.

We guarantee the speed of our loan search, but the speed of your funds reaching your account will always depend on your lender.

If time is of the essence, you can always ask your lender when you could expect your loan to be transferred before you proceed with them.

Repayments are usually taken from your bank account automatically on a date that you agree with your lender.

Lenders send reminders a few days before your repayment date so you can make sure there are enough funds in your account to cover them.

Your loan repayments will be made every month for the duration of your loan term (1 to 60 months).

Be mindful, that sometimes the very last repayment amount is slightly different than the rest of the repayments.

If you miss a payment or make the payment late, you could be charged a late repayment fee for this, and your credit score could suffer.

If you think you could be late with your repayment due to some troubles, contact your lender before your repayment date. They are usually happy to help you reduce late fees and avoid damaging your credit score.

Loanza operates in all the states where it is legal to apply for a payday loan in the US. 

These include, but not limited to:

• Alabama
• California
• Colorado
• Florida
• Illinois
• Indiana
• Iowa
• Kentucky
• Louisiana
• Nevada
• Ohio
• Tennessee
• Texas