Short-Term Loan Application

What Happens Next

Once you complete this application it will be sent to a network of lenders. This network is managed by RoundSky and is one of the largest in the country. Using this network you can apply to roughly 30 lenders using a single application. The downside is that you are unable to chose your lender or shop around for the best price. You can, of course, not take the loan. You are under no obligation to accpet the loan that is offered to you. If you do accept the loan then you are obligated to pay back the loan plus fees. RoundSky is the same networks used by the vast majority of short-term loan matching sites on the internet.

If you are approved for a loan you will then leave our site where we have no control over a lender's policies so make sure you understand the site's terms. In addition, you are responsible for reviewing all loan terms such as rates, fees and renewal policy before accepting a loan so review them carefully. If you accept the loan, cash is generally deposited into your checking account usually within one business day.

This is a Short Term Loan

This cash must be repaid and is designed for short-term, emergency funding. Repayment plus fees is generally due in full at your next pay period for payday loans and over the next few periods for installment loans. Please review your terms carefully before accepting any loan.

Rates and Fees

APR and fees vary and are disclosed by your lender once your are approved. Example loan costs from our network range from $7-$45 per $100 borroweed per pay period. APR's may range from 100% to 900%.

Non-payment and Collections

Non-payment and collection policies depend on your the lender and should be disclosed in your loan agreement. In general, when you accept the loan agreement you are agreeing to repay the loan plus fees. Failure to pay the loan on time results in additional fees. Some lenders are known to repeatedly attempt to withdrawal from your checking account if there are insufficient funds. This can greatly increase costs as your bank will also charge overdraft fees so make sure you have adequate funds on your payment due dates.

Credit Score

Applying for a short-term loan and paying it off on time generally does not improve your credit score BUT failure to repay your loan may hurt your credit score. This is because short term loan companies generally do not report to credit bureaus but if you fail to pay they may sell your loan to a collection agency and most collection agengies do report to the standard credit bureaus.

Loan Renewal

Loan renewal policies depend on your specific lender and are disclosed in your loan agreement. In some cases loan renewals may be automatic which means you will incur additional fees. To avoid automatic renewal you often must notify the lender 3 days advance. Repaying your loan on-time avoids additional fees. Make sure you read and understand your loan terms.

Short-Term Loans are Expensive

Remember payday loans and other short-term loans are a very expensive form of borrowing. They are generally only make sense if use infrequently to cover unexpected emergency expenses. They are best used when other options such as banks, credit unions, friends, and family have been exhausted. For other ideas see Borrow Money Options

The Payday Hound

The Payday Hound is NOT a financial institution or a lender. We are a marketing service that matches prospective borrowers with prospective lenders. We cannot guarantee final approval of your loan. Final approval for a cash loan depends on many factors including, but not limited to, income levels, the state in which you reside and employment status. The data you enter on the application may be verified with independent data sources including, but not limited to, CLVerify, Teletrack, or Accurint. By entering your SSN into the website, you consent to allow us to share your SSN with outside service providers. By clicking the Find a Loan, Apply, Submit, or similar buttons in the above application you certify that you are at least 18 years old, a legal resident of the United States and agree to the privacy policy. Residents of Georgia, Virginia, West Virginia, Arizona, Pennsylvania, Ohio, New York, or other states where this application process or product is prohibited are not eligible to apply for these loans or other loan product using the above application or this matching service.