Payday loans offer instant cash to people without requiring credit checks. They are quick and easy to get, and you can apply for one if you need extra cash for any reason. If you are interested in getting one, you will need to make sure you meet the lender's requirements. While lenders might vary with the eligibility requirements they have in place, here is a list of the main requirements that lenders have when issuing payday loans.

1. Age

People under the age of 18 cannot apply for payday loans because they will not qualify. You must be 18 years old or older to get one from a lender, and you will need to prove your age when applying. You can prove this by showing the lender your driver's license or state ID card. You will need one of these types of documentation to qualify for the loan.

2. Proof of Address

You will also need to prove your current residency. If your driver's license shows an accurate address, you can use this as evidence. If it does not, you might need to submit a utility bill or something similar to prove where you live.

3. Income

A payday loan offers a way to get cash now, but it requires repayment when you get your next paycheck. Therefore, you will need to show the lender that you have a job. You can prove this by submitting a recent pay stub from your employer. If you do not receive pay stubs, you might be able to prove your income with other methods. You can ask the lender what types of documents they will accept as proof of income.

4. Checking Account

Most payday lenders ask for checking account information when people apply. The purpose of this is to give you the proceeds by directly depositing them into your account. You will also repay the loan by setting up an electronic payment from your checking account to the lender.

5. No Current Payday Loans on File 

Most states do not allow people to have more than one payday loan at once. If your state requires this, the lender might look up your name to see if you have any outstanding payday loans before approving one for you.

If you have any questions about payday loans or want to apply for one, talk to a lender to determine if you meet the requirements.