1 Hour Payday Loans

Explore the requirements and benefits of a 1-hour payday loan, how to get money without checking the credit and how to apply online.

Need a one-hour payday loan? Don’t wait, apply and get the money you need, even if you have a bad credit history. This loan is the fastest source of funding when you urgently need money to deal with an emergency. Apply and get 1-hour payday loan now! Get almost instant approval without even providing any type of collateral.  Before doing this, read the basic information, requirements and benefits of this loan before making a decision.

Apply Now

What is a 1-hour payday loan?

When money is urgently needed, potential borrowers try to find the fastest way to get it, so they look for a 1-hour payday loan. However, unfortunately, a 1-hour loan is not quite what it seems.

The process of obtaining any loan takes about one business day. So the lender needs time to review your application, approve it, discuss the terms of the loan and its repayment with you and make this very payment. However, why does the loan have such a name?

The point is that one hour is the time it takes to apply and be approved for a loan. Typically, you can get approval even faster – within 10 minutes after submitting your loan application. If you are approved, the lender will contact you to discuss the terms of the loan, which takes about 15 minutes. Also, if necessary, you can ask all your questions about the loan and the repayment terms. Thus, one hour is enough to go through the entire procedure from filling out an application to signing a contract, but you cannot receive money during this hour. As a rule, payments are made to your account within one business day.

It is also important to note that 1-hour payday loan offers online lending. Thus, you can apply from your own sofa at any time of the day, which is undoubtedly convenient for all borrowers. You no longer need to stand in lines and waste your time as you can fill out an application and be approved right now!

Who is a 1-hour payday loan suitable for?

If you find yourself in a financial emergency and you urgently need money to cover basic human needs, a 1-hour payday loan would be a great option for you. For example, if you need money to buy some food, or your car needs repairs so you can drive to work and take your kids to school, or you need urgent medical treatment. Thus, you should understand that this loan is targeted at people with short-term financial difficulties who will be able to repay the loan with interest on the day of their next paycheck.

What amount and commission can I get with 1-hour payday loans?

Since a 1-hour payday loan is a short term solution to your problems, you may qualify for a small loan. Typically, between $ 100 and $ 500, but in some cases, the lender can loan you up to $ 1,000.

It is also important to note that a 1-hour payday loan has quite high fees. As a rule, you will have to pay between $ 15 and $ 30 for every $ 100 borrowed. Thus, apply for the minimum amount you need to avoid overpaying much in interest. Also remember that this loan is not suitable for regular needs as it is very expensive. Therefore, only use it in an emergency.

Why do 1-hour payday loans have high fees?

First, the approval times are much faster than applying for a traditional bank loan. If you’ve tried to get bank financing before, you probably know that sometimes you have to wait days or even weeks to get approval, so a traditional loan is a bad option for an emergency.

Also the 1-hour payday loan is aimed at both good and bad credit loans, so even if you have had problems in the past, you can still apply and be approved.

What are the requirements for getting a 1-hour payday loan?

While the criteria often vary from state to state based on their laws, there is a list that is relevant to most. Take a look at the basic criteria and make sure you do it before you apply.  You must:

• Be at least 18 years old
• Be a US citizen or legal resident
• Provide proof of income
• Receive a monthly payment of $ 1,000 or more
• Provide contact details such as phone and email
• Have an active bank account

You also need to contact your lender and find out if he is asking for any other criteria in order to approve your application. Please be aware that requirements may vary depending on state laws and the lender chosen.

What are the benefits of 1-hour payday loans?

• Fast approval decision

As already mentioned, you can very quickly get a response to the application and find out if it is approved or not. As a rule, after submitting the form, you will receive a response from the lender within one minute! This way, you can get almost instant approval.

• Lack of collateral

Unlike many types of loans, 1-hour payday lenders do not ask for collateral so that you can be approved and get the money you need. Moreover, you don’t even need to explain why you want to get a loan (like when you apply for a bank loan).

• Simple application process

You no longer need to go to the lender’s store and wait for hours to get a loan. Now the most convenient option is online lending, which gives you the opportunity to apply from your own home! All you need to do is go to the site of the selected lender, fill out a simple online form and wait for guaranteed approval no matter what.

• No hard credit checks

If you have a bad credit history, then you will be glad to know that most 1-hour payday lenders do require a credit check at all. Typically, for most lenders, the source of income is the main factor affecting approval. Thus, if you receive regular payments and can prove it, then you will most likely be approved.

Can you get a 1-hour payday loan if you are unemployed?

As already mentioned, the main criterion influencing the approval of your application is regular payments. It is important for lenders to know that you have the money to pay off the loan on time. Since this type of loan is short term, you need to pay it back on the day of your next paycheck. Thus, if you do not receive any payments, then unfortunately you will not be able to be approved.

However, if you are receiving unemployment benefits, you can also apply and be approved. As a rule, most lenders qualify unemployment benefits, as well as pension and disability payments as a source of income, which gives you the right to receive a loan on an equal basis with other borrowers.

After reviewing the basic information about a 1-hour payday loan, you can conclude whether this loan offer is right for you or you should find something else. Remember to use it only in case of emergency!