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The Facts About Getting a Loan Until Payday

There are many misconceptions about taking a loan until payday. It’s true that if you can’t afford something, you probably shouldn’t buy it. This is common sense. The misconceptions about payday loans come from the misguided belief that people are taking out a loan until payday to buy unnecessary, luxury items. There are other misconceptions, as well.

Misconception #1: Companies that Offer a Loan until Payday Target the Working Poor

The benefit we offer to individuals of limited means is the ability to borrow small amounts of much needed emergency cash in the form of a loan until payday that they can repay automatically when they receive their paycheck. This can keep a car working or buy a public transportation pass that allow someone to get to and from work safely, and keep them from losing power or paying high reconnection fees in the event of a past-due utility bill.

Misconception #2: Taking a Loan until Payday is Far Too Expensive

GreenPayday is in the business of helping our customers find ways to save money in an unstable economy. When an individual is faced with hundreds of dollars in penalties for failing to pay a bill by a certain date, a loan until payday may be the best course of action. For instance, if the light bill is due on Wednesday, and payday isn’t until Friday, is it better to wait until Friday when a new deposit or reconnection fee will add several hundred dollars to the bill? Or is it more economically prudent to pay the bill in full on Wednesday and pay a much smaller amount in loan fees on Friday?

Misconception #3: All Payday Loan Businesses are Scams

The truth is that local governments regulate how payday loan businesses operate. State laws govern how much interest can be charged for a loan until payday, as well as regulating the fee structures and frequency with which an individual can be granted a payday loan.

Are there businesses out there posing as payday loan companies, operating illegally? Yes, there are. That’s why choosing to obtain your loan until payday through GreenPayday is so important. Legitimate payday loan companies are regulated and count on repeat business to succeed. We have a network of payday loan providers that can help you with an emergency loan until payday.

Misconception #4: Borrowing From a Bank is Easier and Safer

Borrowing from a bank can mean waiting for days or weeks for your money. Certainly, planned purchases that cost a significant amount need to be paid for over time. That’s not what a loan until payday is designed to do. Taking a loan until payday for an emergency expense is a safe, reliable way to make ends meet, and keep a family’s head above water when they need it most.

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Customer Notice: GreenPayday is not a lender or a broker. GreenPayday works with a network of lenders offering payday loans ranging generally from $100 to $1,000. These loans are intended for short-term financial relief and do not constitute long-term financial solutions. Consumers facing debt and credit difficulties should seek out debt and credit advisory help. You will not be charged any fees to use GreenPayday’s services.

Legal Disclaimer: GreenPayday’s Terms of Use and the GreenPayday Privacy Policy apply to the use of this website and its services. GreenPayday connects borrowers with potential lenders and thus the specific terms and conditions of the specific lender will apply to any corresponding loan a borrower takes out. Any display of APR, loan amounts, interest or other loan details are only estimations. In reality these amounts will vary by lender and by borrower. Lending decisions are based on many factors, including but not limited to credit history, employment history, and loan repayment history. Please note that some lenders may perform credit checks as part of their credit transaction approval process. You are under no obligation to use GreenPayday's service to initiate contact, or apply for credit or any loan product with any service provider or lender.

THE OWNERS AND OPERATORS OF THIS WEBSITE ARE NOT LENDERS, they do not broker loans and they do not make any short term cash loans or make any credit decisions. GreenPayday simply helps borrowers find potential lenders for payday loans. GreenPayday aims to inform users of possible lenders who may be able to satisfy the needs of a particular consumer. Nothing on this website is an offer or a solicitation to lend. Any information you submit to this site will be provided to a lender. The operator of this website is not an agent, representative or broker of any lender and does not endorse or charge you for any service or product.

Availability: Residents of some states may not be eligible for a short term cash loan based upon lender requirements. Our company does not guarantee that completing an inquiry form will result in you being connected with a service provider or lender, being offered a loan product with satisfactory rates or terms, nor receiving a loan from a service provider or lender.