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Home The Ultimate Guide To Guaranteed Payday Loans

The Ultimate Guide To Guaranteed Payday Loans

Payday loans are unsecured loans with repayment terms that usually coincide with the borrower’s next paycheck. They’re short-term, small-dollar loans that are primarily aimed at borrowers who can’t secure funding from a traditional financial institution. 

On the other hand, guaranteed payday loans are often misinterpreted as payday loans with guaranteed approval for every applicant. However, guaranteed payday loans only guarantee an instant decision on whether you prequalify for a loan or not. In this guide, we’ll discuss everything associated with guaranteed payday loans and how to obtain one.

Guaranteed Payday Loans

Can I Get Guaranteed Payday Loans With Bad Credit?

Of course, payday loans are specifically designed financial products aimed at individuals who, for whatever reason, can’t secure funding from a traditional financial institution, such as banks or credit unions. 

As such, they don’t require a hard credit check, and your eligibility for the loan isn’t determined by your credit score or your credit history. That isn’t to say that lenders won’t inquire about your credit, but instead of using your score to determine your eligibility, they’ll use it to determine the appropriate interest rates and loan terms. 

How to Find Guaranteed Payday Loans Online

Finding guaranteed payday loans online is a simple web search away, but it still implies hours upon hours of comparing different lenders and their loan products in the hope of finding those that match your financial needs. And that’s without actually applying for the loan and waiting through the loan approval process. 

Fortunately, we simplify this process significantly. You simply fill out the loan inquiry form on our website, and we’ll share the information with our vast network of lenders for them to review and make a financing decision. 

If a loan lender decides to offer you a loan, they’ll also provide you with a loan agreement detailing the loan amount, APRs, fees, and repayment terms. It’s not uncommon to receive several offers, which allows you to pick the one that best suits your needs.

How to Apply for Guaranteed Payday Loans

Thanks to the advent of the internet and digital technologies, most lenders nowadays offer streamlined loan application processes, and in the case of guaranteed instant payday loans, loan requests aren’t only fast, but they also come with minimal eligibility requirements.

Bad credit loans, such as guaranteed payday loans, are marketed as no-credit-check loans aimed at customers with poor credit scores and credit history, providing them with financial means to address their financial needs, albeit at high interest rates due to higher perceived risk. 

Given that they’re often exorbitantly expensive and often used as predatory loans by dishonest loan providers, guaranteed advance loans should be used as a last resort only. Here’s how you can apply for guaranteed payday loans: 

Research Lenders

There are plenty of online lenders on the market, and choosing the best one that fits your needs isn’t always easy, so it pays to thoroughly research different lenders. Among the first things you need to look out for are the loan amount and the Annual Percentage Rates (APRs). 

When it comes to payday loans, the latter encompasses the interest and all the fees associated with the loan, which might include some hidden fees, so make sure to read the fine print. Unfortunately, payday loans often (but not always) come with exorbitant APRs, which makes them incredibly pricey. 

Loan application requirements for payday loans are more or less the same across most lenders, and the loan amount usually ranges anywhere between $200 and $1,000. Another thing to pay attention to is the funding speed, with most lenders offering same-day or next-day funding. 

Last but not least, always check online reviews and speak with family and friends who have previously dealt with a particular lender. It’s one of the ways to make sure you’re dealing with a reputable lender. 

Gather Required Documents

Because they’re aimed at individuals who can’t secure a loan from traditional financial institutions, payday loans have fewer requirements for loan approval. Still, there are necessary documents that you need to submit at the lender’s request to secure the loan. These include: 

  • Proof of income: Your pay stub, bank statement, pension documents, or any document demonstrating your ability to repay the loan should suffice. 
  • Government-issued Identification: This includes your ID, passport, driver’s license, or any official document that can be used for identification, allowing lenders to confirm your identity and determine whether you can legally enter a contractual agreement. 
  • Proof of residency: Many lenders require that you also submit proof of residency. This can be done with any document addressed to your name, with a visible address, such as utility bills, property tax documents, or lease and rent agreements. 
  • Bank account info: While lenders might provide you with cash, some will deposit funds into your bank account. Certain lenders require direct debit authorization, which allows them to withdraw funds directly from your bank account as a means of repayment. 
  • Personal Information: You might also have to submit personal information, such as your social security number, and date of birth.

Fill Out the Application

Once you’ve chosen a lender and gathered all the necessary documents, you can fill out the loan application form. Make sure you provide the most accurate and precise information, as it might affect the approval process and the outcome of your loan request. 

It’s also worth noting that payday lenders don’t rely on your credit score as eligibility criteria for the loan, but they still need to know that information, so it pays to provide said information. Your credit score will be used to determine the adequate interest rate, with better rates reserved for those with better credit history.

Wait for Approval

Once you’ve submitted your application, the lender will review the information you have provided and decide on whether to approve the loan. Though many lenders market their loans as fast-approval or instant-approval loans, the truth is that the loan approval process takes some time to complete. 

Alternatively, you can submit your information to us, and we will share your application with our network of lenders. That way, you can expect several loan offers, which allows you to pick and choose the one that suits you the best. 

Frequently Asked Questions

Here are some of the most frequently asked questions about guaranteed payday loans: 

How do guaranteed payday loans work?

Guaranteed payday loans work just like any other payday loan: you apply online by submitting a short loan application that contains your information and information about your income and expenses.

To prequalify for the loan, you have to be at least 18 years old, be a citizen or a permanent resident of the US, have a social security number, and have at least the minimum required income either from employment or from government benefits. 

The pre-qualification stage doesn’t imply a credit check; we will take your online request and share it with our vast network of lenders, after which you may receive one or more loan offers you can pursue without any obligations. 

However, if you accept the loan, the lender will send you the loan and repayment terms, along with the contract, and you’ll receive the loan amount in your checking account on the same day or as soon as the next business day. 

Any alternatives to guaranteed payday loans?

Online payday loans are very straightforward to obtain, and they’re easily accessible. However, they’re also exorbitantly expensive due to high APRs that may range up to 350% or higher. It’s wise to consider alternative financing options, such as personal loans or bad credit installment loans, since they’re more favorable in terms of interest and repayment terms. 

Credit card cash advances are also a viable alternative to payday loans; they’re usually free, with reasonable interest rates (when compared to payday loans), and feature more flexible repayment terms. However, the maximum loan amount is often limited. Other loans, such as car title loans, are also reasonably priced, but you risk losing your property in case you default. 

How does payment work for guaranteed payday loans?

Payday loans with guaranteed approval are just like other payday loans in terms of repayment; they’re short-term loan options that are typically granted on a two- or four-week repayment period, after which the borrower has to repay the loan in full, including both the principal, interest and additional fees.

Assuming that the APR associated with the payday loan is 350%, if you borrow $500 on a four-week repayment term, you’ll have to repay more than $645. Additionally, most payday lenders require direct debit authorization, which provides them with permission to withdraw the funds directly from your bank account on your payday as repayment for the loan. 

How much can I borrow with guaranteed loans?

In most cases, payday loans are short-term, small-dollar loans granted on two- or four-week repayment terms. They are typically tied to your paycheck, so the amount you’re able to borrow might be limited. The lenders usually limit the loan to $500 or $1,000, as the individual states usually impose a cap on the payday loan amount.

However, some lenders offer higher loan amounts, which could be regarded as a predatory practice due to high APRs, which reduce the chances of repayment. Depending on where you live and the circumstances and terms of your loan, these practices reside in the legally gray area at best and are outright illegal at worst.


payday loan agreement

Guaranteed payday loans aren’t the loan products they’re marketed to be; they are simple payday loans marketed at those with poor credit, with only a guarantee associated with the loan being a pre-qualification decision. 

If you’re looking to increase your chances of securing a payday loan without losing hours upon hours searching for reputable online lenders, visit Superb Cash Advances. Leave us your loan application, and we’ll share it with our vast network of lenders for maximum exposure, increasing your chances of receiving a loan offer and securing the loan. 

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