The 500 Payday loan is a quick easy loan with qualifications you need to meet. To qualify for this loan you do need to have an actual bank checking account that has been open for minimum of three months or longer. You also need to be steadily employed for six months or longer and also reaching the minimum pay of $1000 a month at your job. There are fees charged for this loan and thats why it is needed for you to make the amount of at least $1000 a month. The bank does not want to give anyone this loan thats makes under $1000 a month because they would not want to see further debt.
Other reasons why it is needed for you to meet all the qualifications to get the $500 Payday loan is if a person gets paid monthly instead of bi monthly. This loan also offers you short term loans, but they do need to be paid in the matter of 14 days. Payday also needs you to have a bank account in good standing for a minimum amount of time or longer because Payday deposits right into you bank account. Payday does have a special system that is used to make sure your bank account is in good standing. The one thing Payday does not want to see is any banruptcies in your name.
Another type of 500 loan is a personal loan. Personal loans get used for many reasons, whether it be to pay a bill or debt consolidation or to fix a car or to buy a neccessity. For a start you need to have a good standing job for a decent amount of time to get this loan. You also need to have a current and updated bank account that has been active for the minimum amount of time or longer that the lender tells you. These qualifications are needed for this loan so that the lender is guaranteed that they will be paid back and not just giving away money.
For any of these loans a big factor is credit. Lenders really want to see a credit score of 600 or higher if possible. Any lower than that shows that there is no guarantee of your bills being paid. With a credit score of 600 or higher it proves to loan lenders that you are in and have been in good standing with your bills and accounts and job.