I have a regular source of income.
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I have a bank account.
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You have better things to do than worry about money

Random Facts About Unsecured Lending

In case you're not convinced that obtaining a payday loan through one of our partners is the easiest, safest and most convenient way to get cash in a hurry, consider these additional facts and statistics:

  • While you need to meet a rigid set of requirements to get approved for a traditional loan, an approval for an unsecured counterpart doesn't even call for a set income level. The only restriction is you can't borrow more than you can pay back on your next payday.
  • Among the many risks our partners eliminate by offering their services online is the chance that you'll fall victim to identity theft. We utilize the latest encryption technology to safeguard our website against hackers, ensuring that your application won't be viewed by anyone other than who you intend to see it. Plus, while the paperwork is handed off several times during the approval process at a traditional financial institution, your application is reviewed, processed and approved by just one member of our staff of trained lending professionals. By adhering to the philosophy that too many cooks spoil the broth, we ensure that your vital information is actually safer with us than it would be with a bank or other type of traditional lender.
  • Contrary to the belief that unsecured providers mainly cater to low-income and underprivileged families who aren't able to borrow money anywhere else, statistics show a majority of customers have annual incomes of between $25,000 and $50,000.
  • Of the people who take advantage of the service each year, 94 percent have high school diplomas or better, while 56 percent have college degrees; 42 percent are homeowners; 64 percent are married with children; and 68 percent are under 45 years old.
  • In addition to helping people like you get fast cash when they need it, the industry has proven to be a positive force in helping to nurse the economy back to a healthy state. Annually, the revenue generated from short-term borrowing accounts for contributions of more than $10 billion to the gross domestic product while generating more than $2.6 billion in federal, state and local taxes. Plus, short-term lenders like the ones we have teamed up with provide 155,000 jobs for U.S. citizens, in addition to creating more than 28,000 jobs in supplier industries.
  • To confirm Ohio lawmakers' allegations that people who take out electronic payday advances don't fully understand what they're getting into, the Cypress Research Group in Cleveland interviewed 400 Ohio-based customers. It concluded that borrowers "absolutely do understand what they are doing and, in fact, given the choices available to them, a payday loan is often the most economical choice."
  • Of the 400 Ohio residents who were interviewed, 96 percent said they consider the service to be useful and they'd utilize the service again should the need arise.
  • Among numerous financial experts and organizations that have jumped to the industry's defense in light of posed government crackdowns is Tim Miller of the Center for Consumer Freedom. Defending the usefulness in society, Miller said, "Eliminating a major short-term credit option for financially stressed adults is hardly an act of mercy. We should be helping Americans find more debt management options--not taking them off the table."
  • One unexpected supporter came in the form of the Federal Reserve Bank of New York, which, after conducting an in-depth study of the industry and its practices, concluded, "Payday lenders raise household welfare by relaxing credit constraints." Please read our electronic payday loans reality versus fiction page for more information.
A woman signing up for a payday loan online