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10 Payday Loan Requirements You Must Be Prepared

A payday loan is something that keeps employees going till they get their salaries. The people who live paycheck to paycheck are the majority who take payday loans.

Staying for a whopping thirty days without a paycheck is such a long time for someone who does not have other sources of income. And that is where payday loans come into play.

Requirements for Payday Loans

But wait, there are specific requirements you should have for you to get a payday loan

1.Must have at least 18 years of age

 Having 18+years is prove that you can take responsibility for the actions you take in society. You can only obtain a payday loan if you are 18 years or more. 

2.Must have a valid Government-issued ID

  No payday loan lender would risk lending their money to someone not associated with a particular state or country. This policy does not only apply to payday loans but also to other money lending institutions.

3.You must have an active checking account

 This checking account should be the one the company uses to process our paychecks.  An active checking account will guarantee the lender that you will pay the amount you are borrowing.

In addition, some lenders require you to have three consecutive payments by the same company on the same checking account.

4) Have valid proof of income

No one would risk lending to someone who doesn’t have a flow of income. There is no time to run up and down looking for the borrowers who disappear in thin air.

Providing proof of being employed or some source of income will reduce the lender’s risks associated with bad debts.

5) Have a Social Security Number

A Social Security Number provides payday lenders with accurate and reliable information about your income records. This information will determine whether they will lend to you or not. 

6) You should know your credit score

Before you go ahead with getting a payday loan, make sure you assess your creditworthiness and check Viva Payday Loans for easy approvals. This conscience will make you decide whether you are making the right decision or not.

7) You should have a valid email address

If you are applying for a payday loan online, you must first verify your email address. The email verification assures the payday loan lenders that they are not lending to some spam borrowers.

8) Have a personal certified check

 A certified check gives the payday loan lenders that you can pay the amount you are borrowing. With a personal certified check, it will be easier for lenders to trust you with their money.

9) Make sure you understand the terms

Payday loans have a very high-interest rate compared to any other lending institution. Therefore, you should ensure that you are comfortable with the high interests before applying for a payday loan.

10) You should pass the background checks 

There are payday lenders who conduct background checks before they can approve to lend you money. For you to get the payday loan, you have to pass those checks.


The requirements mentioned above are essential for you to get a payday loan. 


Engineer by degree, blogger by profession. Loves to write on trendy topics as well as review articles of latest tech products.

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