How Payday Loans Work
Payday loans are short-term single payment cash loans based on the borrower's personal check held for future deposit. The customer writes a personal check for the amount borrowed plus the finance charge and receives cash. Checks may be issued to the customer instead of cash.
MICROLOAN EXPRESS holds the check until the customers next payday when the loan and finance charge is paid in one single payment. To pay a loan, the customer can redeem the check by paying the loan with cash, cashier's check or money order. Once the loan is paid, the borrow can borrow again 24 hours.
Disclaimer: If a customer has defaulted and not paid their loan on the due date, Microloan Express has right to desosit the held check in the customers bank account up to three (3) times. The customer will be responsible for any associated NSF fee's as a result of the deposit (s).
Easy Payday Loan Process:
- Fill out an application in-store or complete your application online
- We will give you an approval and amount your qualified to borrow
- Write us a personal check for loan amount plus our free (just $15 per $100 borrowed, plus a single $0.40 verification fee)
- Get your loan, usually within 30 minutes or less!
- Return to repay loan by cash, cashier's check or money order on your due date and reclaim your personal check
Here is what you need to bring with you
- Picture ID (Driver's License, State ID Card, US Passport)
- Social Security Card
- Most Recent Bank Statement (new accounts are acceptable)
- Pre Printed Check (no counter or blank checks)
- Most Recent Check Stub or Social Security Statement
- Recent Utility bill with your name and address on it