freedomcashloans

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A payday lender will confirm your income and checking account information and deliver cash then and there at a store or, if the transaction is done online, as early as the same day.

In exchange, the lender will ask for a signed check or permission to electronically withdraw money from your bank account. The loan is due immediately after your next payday, typically in two weeks, but sometimes in one month.

If the loan is issued at a store, you may return before or on the day the loan is due to repay. If you don’t show up, the lender will run the check or make the withdrawal for the loan amount plus interest. Online lenders use an electronic withdrawal.