All about Payday Loans What is a Payday Loan? Required Documentation Payday loan seekers Selecting a Loan Lender Are there disadvantages? Payday Loan procedures Impacts on your life How big of a loan? Tips for Payday Loans Who is qualified? Repaying Your Loan		Payday Loan Procedures   Although each lender will have different procedures for their payday loan process, here is a basic overview of the process.   Application Your first step to receiving a payday loan is to go to your local cash advance store or find a lender online and apply for a loan. You should be contacted by an online lender within just a few hours of application.   Approval After you are approved for a payday loan, you will be sent a loan agreement and an authorization form for electronic funds transfers. Both of these documents can be faxed or emailed to you, and you will have to sign them and send them back to the lender’s office.   Receipt of Money Most lenders will have your loan money into your bank account within 24 hours. If you are receiving cash or a check from a local lender, you may receive it immediately upon application and approval of your loan.   Repayment of Loan Your loan repayment process will depend on the type of repayment you choose for your loan. The repayment of the loan is expected to be timely, and if there are any problems, you should contact your lender immediately.