About Us

What is an Online Payday Loan?
Online payday loans are small, short-term loans offered for borrower’s to receive cash until their next payday. Sometimes payday just doesn’t come fast enough, and some financial obligations have to be met. No need driving to your local loan office building and standing in long lines, SLCash.com offers payday loans via their website for a fast, convenient way for anyone with an income and bank account to receive money directly deposited into their account the very same day. Also referred to as a paycheck or payday advance, payday loans can assure you with the amount of money you need at a flexible rate you can afford.

Who can receive an Online Payday Loan?
Thousands of people everyday rely on payday loans to help meet their financial needs. Whether used for rent, medical bills, or any other emergency where cash is needed immediately, SLCash.com has the solution to avoid those outrageous late fees and uncomfortable situations of not being able to pay your debts. With no credit check necessary, SLCash.com makes applying and receiving a loan available for anyone, regardless of your credit history. With loans varying from $100-$1200+ and flexible loan terms, there is a wide variety of loan options to consider. All you need to be eligible is over 18 years of age, have an active bank account and a job.

What is the process of receiving my loan?
The process is easy; first decide what loan amount best suits your needs. Then, fill out the short application form which asks simple questions like your name, address, social security number, and bank and employment information. The borrower then agrees to the terms and conditions which apply to that loan. These terms include a small APR rate and the time period when the loan will be paid back. Finally, when the loan is approved you can decide whether you would like to receive a check in the mail or have the money direct deposited into your bank account that very same day.

What is an example of a Online Payday Loan?
A typical example of a common payday loan would be a borrower fills out a loan application on SLCash.com and agrees to the terms and conditions for a loan of $100 at a 2-week period with a $15 APR. Once the loan is approved, the lender deposits the $100 into the borrowers account. When the 2 week period is up, the borrower will have $115 automatically withdrawn from the same account. It’s that simple, you can have the money you need today.

Why should I choose an Online Payday Loan?
Online payday loans are becoming extremely popular due to the ease and convenience that online services provide over the internet compared to the traditional brick and mortar loan buildings. People are very busy these days and would much rather visit a website then take the time and spend gas money to drive to a building. Our lenders are committed to helping you find the right loan with the right terms to fit your needs. With the simplicity, reliability and superior customer service offered through this site, online payday loans at SLCash.com seem like the obvious choice for all your payday loan needs.

Myths about Payday Loans

There are many myths out there dispelling numerous amounts of people from considering of taking advantage of a payday loan. But in actuality, payday loans can be very beneficial for individuals to have money when they need it. This is a very common occurrence when most families live paycheck to paycheck and may not be financially prepared for emergency repairs, travel or medical expenses.

1. The most common myth out there is that the interest rate is too high. At first glance the interest rate might seem very high but you have to consider the time frame for payday loans. Long-term loans interest rates are significantly less because you are usually paying them back within a year or more. Short-term loans have higher interest rates because the time period is much shorter, only about a week or two, and payday loan companies assume greater risks. This myth can be true if you are irresponsible with your loan. If you don’t pay back the loan at the required time and it continues to roll over, then the interest rate and fees will begin to accrue causing the loan to become a burden.

2. Another myth is that you have to be employed in order to receive a payday loan. This may be true for some online loan companies, but there are some that will happily loan you the money if you can show some proof of income and that you will guarantee repayment.

3. There is also a myth that your credit may be affected by receiving a payday loan. This is also false if your loan company does not check your credit. Credit history can only be affected when a lender checks the person’s credit in order to supply the loan. Most online payday loan companies require no credit check, which in turn has no effect on ones credit.

4. One myth circulating is that payday loans take advantage of the poor, military vets and minorities. This myth couldn’t be true because in order to receive the loan you must show proof of a sustainable income and have a bank account. In reality, most payday loans are marketed towards middle income individuals who need the advance for emergency purposes and cannot receive the loan through a bank or union. Payday loan lenders do not discriminate and would rather have a customer with means to take care of their loan obligations then someone who is not employed and probably wouldn’t pay them back.

5. The final myth is that Payday loans are from predatory lenders. Due to the fact that a large percent of Americans are in debt, these loans can provide a quick solution that banks cannot supply due to credit history. People usually assume that lenders are taking advantage of customers because the interest rate looks high at first glance. The truth is that the interest seems high because the loan is not meant to keep recurring like credit cards. Since this is hopefully a one-time loan which will be paid back quickly, the interest looks high, but in reality it isn’t that much compared to the amount you will end up spending with recurring credit card interest rates. You have to think of it as a small fee that you pay for someone giving you money when you don’t have it. There are examples all over where you have done this and don’t even realize. A typical example is renting a movie. You can go to your local movie rental store and rent a movie for $5.00 and return it in a couple days. It would have cost you about $20.00 to purchase that same movie and you would have been able to keep it. So you just paid a 25% fee on just “borrowing” the movie. These types of examples are all over the world, the fees that are accessed for the lending of money are very minimal compared to some fees you may have paid for other conveniences which probably weren’t as important.