How much can I borrow with a payday loan?
When it comes to payday loans, the amount you can qualify to receive depends on a number of different factors, including income level and state of residence. Depending on whether or not a payday lender is a member of the CFSA, the maximum amount may be subject to other terms. When visiting a payday lender’s store or website, it should be easy to determine the maximum payday loan amount available to you prior to submitting your information.
Payday loans are income-based loans, which is why lenders will request proof of steady employment. How much you earn will determine the initial amount you are able to receive. This keeps your payday advance loan from exceeding the amount you can afford to repay in one payday, not including other expenses.