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9 Questions to Ask Before Applying for a Payday Loan

Applying for payday loans with lenders like 310-LOAN is a quick and simple process. Before you get started, there are a few questions you should ask yourself to ensure you’re going into this with the information you need to make a sound financial decision. Check out these 9 questions and once you’re ready, head on over to our application page to get started!

1. What am I using this loan for?

It’s a good idea to have a specific purpose in mind when taking out a payday loan. That’s because you’re more likely to use it for a helpful reason than a hurtful one. Applying for a payday loan because your credit card is maxed out is not the same thing as applying for a payday loan because your hydro bill was higher than expected. There are plenty of reasons to get a payday loan, just make sure your specific needs are actually needs – rather than wants.

2. How much do I really need?

To fully answer this question, let’s look at a specific scenario. Say your utility bills are more than they typically are this month and you need help paying them. Should you take out a payday loan for the entire amount? Not really. You only need a loan for the amount above what you typically pay, rather than for the entire thing. Simply put, take your total bill and minus the amount you usually pay. What’s left over is the amount you should apply for. A lower loan amount means lower costs to borrow the money, keeping you on the right financial track.

3. Will I be able to pay this back in two weeks?

Payday loans are short-term loans to be paid back by your next paycheque. This means that you need to be sure you can afford the amount you are borrowing. At 310-LOAN, we understand times of financial distress are a part of all our lives. You can avoid the stress entirely by borrowing only what you can handle.

4. How quickly can I get funds in my account?

How quickly funds appear in your account depends on which payday loan lender you are working with. At 310-LOAN, once your loan is approved, we can have the funds in your account in as little as 30 minutes. We do this because we know how important it is to have access to cash when you need it. In most cases, though, payday lenders can provide funding by the next business day.

5. Do I have everything needed to successfully apply?

Every lender requires different personal information in order to apply for a loan, so be sure to check what documents and other requests are needed before you apply. With 310-LOAN, you’ll need a few things to get the application process going. These may include:

  • Email account
  • Proof of income
  • Bank account
  • Bank statement
  • Voided cheque or pre-authorized payment form
And of course, be sure that you are eligible for a payday loan. Review 310-LOAN’s eligibility requirements here.

6. What are all the ways I can apply?

Again, the different ways you can apply depends on the payday lender you’re working with. Some lenders have stores you can visit in-person. With 310-LOAN, you can apply two ways: online or by phone. Applying online has major perks, including the ability to apply without leaving your house or office and never having to wait in line.

7. Have I read all the terms and conditions, and do I understand them?

Repayment terms, loan fees, application requirements, and overall expectations can be different between payday lenders. Most of this information can be found on a payday lender’s website. Just make sure as you go through this process, you have read and understand the entire process and can move forward confidently.

8. Is this payday loan company the best to work with?

Who you turn to during a financial crisis can have a big impact on your willingness to reach out again if-and-when the time comes. Don’t trust your personal information and financial situation to just anyone; make sure you feel comfortable working with the payday lender.

Quality customer service is one of the most important things that makes a payday lender great to work with. We’ve been building trusted relationships with our clients since 1999, providing the best in online payday loans. That trust is what keeps our clients coming back each time. Learn more about what sets 310-LOAN apart from other payday lenders.

9. Who do I talk to if I have questions?

No matter what loan product you are using, it’s important to have contact information on-hand in case you need anything before, during, or after the loan application. Our customer service staff is ready to help. We’re happy to guide you through the lending process or just answer some quick questions. You can reach us Monday through Friday, 8:00 a.m. to 9:00 p.m. EST and Saturday from 10:30 a.m. to 7:00 p.m. EST. You can also contact us via email after hours at

Answering these questions will go a long way in helping you make a positive financial decision. When you’re ready, start your application now!

Apply Now

OR CALL 1-800-310-LOAN