Here’s how it works with Magma Payday Loans:
01
Submit our Online Inquiry Form
Complete our secure loan request form and let us connect you with a direct lender.
02
Get Pre-Approved
You will know right away if you are pre-approved for a payday loan
03
Connect With A lender
One of the trusted lenders we network with will contact you if you were pre-approved.
04
Receive Funds Quickly
After approval, funds are typically deposited into your checking account within 24 hours, depending on the lender.
what is Payday loan?
Need quick cash? You’re in the right spot! With our online service, getting a payday loan is simple and fast, just make sure you meet these requirements, and you may get your funds today:
- You’re at least 18 years old
- You are a U.S. Citizen
- You have a steady income
- You have a bank account
You can borrow up to $1,000. Don’t worry if you have a poor credit score; we may still be able to connect you with a lender.
Plus, there’s no need for a fax or paperwork – most of the process is online. All you have to do is fill out our online form. After you do, we will redirect you to a potential lender.
Once your application is approved, you’ll see the money in your bank account within one business day. You can use this money for anything you need, like ATM withdrawals, paying bills, or bank transfers.
On the due date, make sure you have enough money in your bank account to payoff your loan. The payment will be made automatically. If you don’t have enough money you may be able to roll over your loan to your next paycheck but remember, this will mean extra interest and fees.
Our goal
Payday loans are a great option to get emergency money if your paycheck is around the corner. Our goal at Magma Payday Loans is to help you improve your financial standings.
How Much Cash Can I Get?In a Nutshell: Payday Loans
Payday loans are short-term, high-interest loans designed to cover urgent expenses until your next paycheck. They’re easy to get, often without a credit check, but come with high fees and short repayment terms. Many borrowers struggle to repay on time, leading to rollovers and additional costs. They’re a risky option and should be used with caution.
Examples of Payday Loans
| Examples | Example A | Example B |
|---|---|---|
| Loan Amount | $250 | $500 |
| Term | 14 Days | 14 Days |
| APR | 300% | 391% |
| Daily Rate | 0.82% | 1.07% |
| Payoff Amount | $278.77 | $574.99 |
| Late Fee | $25 | $25 |
