How Do Payday Loans Work?

It’s not easy living on minimum wage. You try to pay your bills and even save a little. But life happens. And sometimes you feel like you have to choose between keeping the car running, having electricity and feeding the kids.

Some weeks it’s impossible to stretch that paycheck. At Money 4 You Payday Loans we understand that you need money fast. That’s why we have straightforward guidelines and a clear, easy to understand contract to help you get the money you need. Our loans are the quick and affordable way to meet your financial obligations despite occasional shortfalls.

How Payday Loans Work

To complete our loan application process, you’ll just need to provide certain documentation and fill out a short application. A loan agent will review your application. Then — within minutes — we can either give you the money or deposit it into your bank account.

No credit checks. No hassles.

Once you’ve received your loan, you get to choose. Pay the full cash advance plus interest amount back within 1 week. You’ll only pay the interest that you owe for that amount of time. Or with an installment loan, you can choose to make installment payments over a 6 month time period.

If you need more time, your interest rate won’t go up. When you’re approved for a loan, you’ll receive a fee schedule. It tells you how much interest you owe for each day up until the day that you pay off the loan with interest.

It really is that easy.

Steps To Apply For A Payday Loan

  1. Get your documents together. We’ll discuss those documents in the next section.
  2. Apply online, over the phone or in person at one of our many convenient branches.
  3. Once you’re approved, you’ll write a post dated check for 28 days from today’s date.
  4. Then within minutes, you’ll receive the money. Or it will be deposited into your bank account.
  5. You’ll receive a document that clearly lays out how much interest you owe for each day up until you pay the loan.
  6. You will then be responsible to returning the loaned amount by the due date with interest. When you make your payment, your post dated check will be returned to you, so that you can destroy it. You may choose to pay your loan and interest on or before the due date. If you pay your loan off early, not only will you not owe the interest that you would have owed had you waited, we’ll also reward you with credit toward the interest on your next loan.

What You’ll Need To Get a Loan

You’ll need to have:

  • A job for at least 1 month before applying
  • A bank account for at least one month before applying
  • A state-issued photo ID like a driver’s license
  • Proof of a social security number. This will usually be your social security card.
  • A check written to Money 4 You for the required amount

Benefits of Getting Your Loan Through Money 4 You Payday Loans SLC

When it’s so easy to qualify and you get results fast, it’s easy to see the benefits of getting Money 4 You Payday Loans. But let’s explore more about why so many customers choose us when they need money fast.

  • Get your first loan FREE!
  • Get personalized attention when you visit one of our Utah locally owned offices
  • Get approved fast over the phone or online
  • Earn free interest to reduce the interest on future loans
  • Always know what you’ll pay upfront with our easy to understand fee schedule
  • Be in control with flexible payments. You tell us when you can pay and how much. We design a payment plan that works for you.
  • Win fun prizes (cell phones, laptops, iPads, TVs and more)
  • Feel safe with a 100% safety guarantee. We use state of the art encryption technology to protect your data and identity.
  • No credit check! Credit doesn’t matter. As long as you have a job, bank account and social security number (as described above), you can qualify.
  • 22 locations around Salt Lake City
  • Best rates around

Get a Utah Payday Loan the Quick & Easy Way with Money 4 You

Life doesn’t wait for payday. If you’re coming up a little short this month or have any other questions, contact Money 4 You Payday Loans today at 855-MY-MRMONEY, start your application online, or come by to see us. We look forward to helping you! 

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