Payday is a lender that focuses on the so-called mini loan or flash loan. An amount of between 50 and 600 US dollars is borrowed and must be repaid within 15 to 30 days. You can consider the mini loan as a kind of advance on your wages or an emergency solution when, for example, you are suddenly confronted with an unexpected and urgent bill. Since the amounts of the loan are very low, the costs are also very limited. When you borrow money from Payday on a term of 15 days, you pay 2 US dollars, regardless of the amount, with a term of 30 days this will be 4 US dollars. A term of 30 days is possible from an amount of 100 US dollars. If you only need a loan of 50 US dollars, you must always pay it within 15 days.
Giving a guarantee to Payday
If you want to take out a flash loan with Payday, you must provide a guarantee. This can be in the form of a person who wants to act as a guarantor for you or through an intermediary chosen by Payday. In the first case, the warranty will cost you nothing. The person who wants to act as surety shows by means of payslips that he or she can act as surety and if you repay everything within the set period, the surety does not have to do anything else. In the second case you do have to pay a fee to the intermediary. The costs are determined by the amount you wish to borrow. At the end of the journey you will receive an invoice stating your interest, the amount borrowed and any costs for the guarantee.
A flash loan always has an urgent character as it must also become Demorei in the very short term. Each application is therefore treated urgently so that you often have the money in your account the next day. It goes without saying that you are largely responsible for this yourself. You will need various documents with the application, such as payslips, your identity card and the details of your guarantor. The faster you can send the necessary documents to Payday, the faster the loan can be completed and the money transferred. Request some loan quotes here and arrange your mini loan in no time.