Payday Loan Requirements

Requirements and Restrictions

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Q. What are the requirements involved with applying for a payday loan?

Online lending requirements are different with each company. Use these guidelines as an outline when determining what you need to qualify.

  • A qualified borrower must be employed or have monthly income from retirement or other similar benefits.

  • A qualified borrower will need to show a monthly income of over $800

  • Applicants will need to show the ability to repay their loan. Some states have requirements for just this issue.

  • Most lenders require a borrower to be at least 18 years of age. Some borrowers will even set a higher age limit in states where that's allowed.

  • All borrowers will need to have an active checking or savings account. Most companies will deny you if you use a prepaid checking account.

  • You will need to provide the lender with a valid phone number where the can reach you.

  • Borrowers will need to confirm that they are not active military.

  • Most lenders will not approve an applicant for a payday loan if they are in an active bankruptcy.


These are a few of the main requirements of each lender. Check with your customer service rep and determine exactly what's required before applying for a payday loan.

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