payday advance Qualifications - What to Expect payday advance qualifications are different from other types of short-term loans. By establishing that you have a monthly income and meet other minimum requirements, you can receive a loan even if you have poor credit. Established Regular Income One of the prime requirements for a payday advance is that you have a source of regular monthly income. Most payday advance companies will ask for at least two months of employment history. However, you can also apply for a payday advance if you receive a monthly check from social security or a pension. Depending on lenders, you will also need to have a minimum income between $800 and $1200. Some lenders will request a copy of your bank statement or paycheck stubs to verify financial information. Faxless applications do not require copies of these forms. Open Checking Account To apply for an payday advance you must have an open checking account. Some lenders require the account to have been established for at least four months. They also may check that there are no outstanding checks on the account. Minimum Age Requirement payday advance lenders require borrowers to be at least 18 years of age. Sorry kids, your parent can’t even co-sign for you. By having an established checking account, most lenders accept that as proof that you are of legal age. Other Personal Information Besides checking your age, payday advance lenders will request personal contact information including name, address, and phone number. Most online lenders process your application online, but others will call you to verify your information. Additional Information While most payday lenders will be satisfied with basic information, some may require additional terms. For example, some lenders will not approve loans to temp or freelance workers. They may also not approve a payday advance if you already have a payday advance with another lender. It is best to compare lenders’ terms to be sure you can qualify. Qualify For Loan Amounts To receive quick cash, you will also have to abide by your state’s lending laws. The maximum you can borrow is between $500 and $1000 based on your state’s laws and your income. Repayment schedules are also subject to state laws. Get your payday advance now payday advance  |  cash advance  |   no fax payday loans  |   payday loans  |   cash advance  |   cash advance  |   payday advance  |   |