
Online Payday Loans
How much money do you need?
(Won't impact your credit score!)
- 2 Minute Application
- Bad Credit Accepted
- No Credit Check
- Same Day Transfer
What Is a Payday Loan and How Does It Work?
A payday loan is a short-term loan that is meant to be repaid around your next payday. With these loans, you would typically be able to borrow from $100 to $1000. Due to their less stringent requirements, they are popular among people who have bad credit and need money urgently.
Payday loan terms will vary from lender to lender, but generally, they would expect you to repay the loan with interest in 2-6 weeks. Sometimes a payday lender would also ask for a signed check or the permission to set up an auto-draft so they can withdraw money from your bank account on the due date automatically.

What Are Usually The Interest Rates of Payday Loans?
The average annual percentage rate (APR) of a payday loan is at around 400%, and for some, this number can go as high as 780%. But many states put caps on the interest rates of payday loans, so a lot of the time they will be in a reasonable range.
But you still have to be cautious if you decide to get a payday loan. You should check with the lender about how much they will charge you as the loan interest, so you will be certain about whether you have the capability to afford the loan you're going to take out.
Are There Other Fees For Payday Loans?
There are some types of fees that are applied during the borrowing and repayment process such as pre-payment fees, origination fees, and late payment fees. These fees add to your overall cost of payday loans, and will also be disclosed by the payday lenders.
If you choose to use CocoLoan, you will be charged zero dollars as our services are completely free of charge. And our lenders won't ask you to pay any hidden fees – they will be totally transparent about what you will have to pay.
Am I Eligible For an Instant Payday Loan?
The eligibility requirements vary by lenders. But generally there are several basic criteria to meet so you can qualify for a loan:
- Age: You have to be at least 18 years old.
- Active bank account: This is used to receive the money your lender transfers to you.
- Proof of income: The lenders need to know if you receive enough income to repay the loan. Stable income is mostly preferred.
- Address, phone number, and email: In case you miss your due date, lenders will want to know how to contact you.
Things to Do Before Applying For a Payday Loan
Despite being one of the quickest ways to get funds, payday loans can be very risky. There are things you should consider doing to make sure that you’re fully aware of the risk:
Consider other options
Ideally, payday loans should be your last option. You can try other options first such as using a credit card or borrowing from a friend or family member.
Check your state regulations
Some lenders may apply fees or conditions that don’t follow the laws. Understanding the laws would help decide if you can trust the lenders.
Pick the right loan
Terms and rates of different payday loans can vary. You should compare and inspect them carefully so you can choose the one that is right for your requirements.
Understand the lender's terms and conditions clearly
If you don't understand certain requirements, you may miscalculate the total costs or fail to fully repay the loan, which would put you into more serious financial problems.
How to Get Instant Payday Loans Easily
Searching for lenders manually can require a lot of time and energy. They may be unavailable for you especially in an urgent financial situation. In this case, CocoLoan has just the right solution for you. We can help you connect to our network of trusted payday lenders. Some of them can help you even if you have bad credit.
Here is how our service work:
- 1. Submit your information: Fill in your loan request on our website.
- 2. Get quotes from our lenders: Receive offers from our lenders and start comparing them.
- 3. Sign the agreement: Choose the offer that fits your needs and reach a deal with the lender.
- 4. Get the money: You may receive the funds from within 24 hours to around 3 business days.
Explore Payday Loans at Your Disposal by State
Here you will see information about the payday loans offered in each state. Just click on your target state below and see how payday loans work and who are the top lenders there.
What Are The Alternatives To Payday Loans?
Payday loans are of course not the only way to get quick money. You can always consider the following as alternatives:
Installment Loans
Installment loans are repaid in scheduled monthly installments. They can be a very convenient financing option if you want to borrow a larger amount of money.
Loans For Bad Credit
Bad credit loans are specifically designed for bad credit borrowers. The lenders of these loan types usually look at other factors to determine your creditworthiness.
Title Loans
Title loans require your asset, specifically your car title, as collateral. It’s generally easier to qualify for these loans and you tend to receive better rate offers.
Quick Loans
As the name implies,quick loans are disbursed quickly within hours of application. These loans typically have less strict requirements with very few documents needed.
Personal Loans
Personal loans can be used for a variety of personal purposes and are typically repaid in installments. They are another popular option for bad credit borrowers.
Short Term Loans
Short term loans are loans you have to be fully repaid in a shorter period of time, usually less than a year. They can be secured or unsecured.
Cash Advance
A cash advance is a short-term loan that is borrowed against your paycheck or available balance on your credit card.
Same Day Loans
Same day loans are types of loan that are approved (sometimes granted) on the same day of your application. These loans tend to have higher interest rates.
Apply For Payday Loan In Your Local Area
CocoLoan can help you search and locate trustable payday loan service in your local area with ease. Click on one of the cities below to get started.
- Payday Loans in Dewitt, MI
- Payday Loans in Duncan Falls, OH
- Payday Loans in Deming, NM
- Payday Loans in Detroit Lakes, MN
- Payday Loans in Daphne, AL
- Payday Loans in Daleville, AL
- Payday Loans in Daytona Beach Shores, FL
- Payday Loans in Denmark, WI
- Payday Loans in De Soto, IA
- Payday Loans in Dunnell, MN
- Payday Loans in Davis, IL
- Payday Loans in David City, NE
- Payday Loans in Des Peres, MO
- Payday Loans in Dillonvale, OH
- Payday Loans in Dayton, TN
- Payday Loans in Dacono, CO
- Payday Loans in Delaware City, DE
- Payday Loans in Diego, CA
- Payday Loans in Dexter, MI
- Payday Loans in Duluth, MN
- Payday Loans in Dover Afb, DE
- Payday Loans in Dequincy, LA
- Payday Loans in Doswell, VA
- Payday Loans in Dumfries, VA
- Payday Loans in Decatur, IL
- Payday Loans in Dyersburg, TN
- Payday Loans in Dripping Springs, TX
- Payday Loans in Daleville, IN
- Payday Loans in Deland, FL
- Payday Loans in Del Rey, CA
- Payday Loans in Davis, OK
- Payday Loans in Dellroy, OH
- Payday Loans in Dover, NH
- Payday Loans in Dimmitt, TX
- Payday Loans in Duchesne, UT
- Payday Loans in Des Moines, IA
- Payday Loans in Des Plaines, IL
- Payday Loans in Dover, DE
- Payday Loans in Durant, OK
- Payday Loans in Damascus, VA
- Payday Loans in Dunseith, ND
- Payday Loans in Dimondale, MI
- Payday Loans in Dannebrog, NE
- Payday Loans in Delton, MI
- Payday Loans in Dayton, TX
- Payday Loans in Dahlgren, VA
- Payday Loans in Diamondhead, MS
- Payday Loans in Dulce, NM
Frequently Asked Questions
Is an instant payday loan secured or unsecured?
Most payday loans are unsecured which means that it doesn't require you to give any collateral.
How much can I borrow with a bad credit payday loan?
It really depends on your capability to pay back, but generally, it ranges from $100 to $1000.
Will a payday loan affect my credit score?
Borrowing a payday loan, even if you have bad credit,doesn'taffect your credit rating, as long as you can repay it on time. But if you fail to do that, the lender will report this to the credit bureaus and this will negatively impact your credit score.
What if I can't repay my payday loan?
Most lenders would charge a late fee and give you the option to extend the due date. If you repetitively fail to repay, or lenders are unable to collect the funds, they may send your loan account to a collection agency.