Payday Loan – An extended help to Mainer
Apply Maine Online Payday Loans Application Below
Every place has a share of problems so does Maine, the lagging economy leaves rural Maine behind. Eroding middle class jobs, social disparity are deepening economic disparity. Chronic unemployment is the result of sluggish economy. The decline in population of young workforce adds fuel to the fire. Mainers have not been able to recover from the economic depression. Many people are unemployed and many are searching for quality jobs. The need of the hour is to produce quality jobs , where the young professionals can showcase their talent. With this kind of sluggish economy the issue of homelessness has popped up.
There are many homes which just drag their life from one payday to another. For them meeting unexpected financial expenses can be a herculean task. When such a situation arises then it is only the payday loan that extends the helping hand.
Suppose you are sitting in your living room , relaxing after a tiered day, the phone rings and you pick up the call. The voice on the other side is feeble and emotional, it is the voice of your ailing mother who wants to meet you. She wants you to drive down 300miles to meet her. The voice of your Mom, brings back all the lovely memories of childhood. You promise to visit her. The moment you stop talking, your mind starts calculating, the expenditure. Still two weeks are left to get the month over, so you think of borrowing money from payday lender.
Online Payday Loans Maine
Requirement for borrowing
The borrower must be an American citizen of at least 18 years of age, with steady monthly income of $1,000. He must have valid checking account and valid address.
Where to borrow from?
Upfront Payday Stores and Online Payday Loans are the two options.
Loan Procedure
You can go to any payday loan store and you will be asked to fill the form, which will require you to fill your personal and employment information. Once the information is verified, you will be asked to give a post dated check with the amount filled in it. The amount due will be the money borrowed plus the interest plus the fee of the lender. Once it is done , you can walk out with cash in your account. Yes! It is that simple.
If you are not in a mood to step out of your living room, then you can pick up the phone, compare the rate of interest offered by different lenders, choose one and start filling the form online. Once the information is filled , the lender will verify and will get back to you. If he finds everything all right, then he will ask for your payday account number, so that when the pay of your next month comes, he is able to withdraw the due amount. In a short while you receive message of your account credited with money.
Advantages
Speedy It does not consume time as the traditional banks do.
Convenient No lengthy procedure involved, no lengthy documentation.
No credit history- The lenders do not take into account your past, they just rely on your current financial status.
Regulations
Lender cannot charge more than 30% for loan less than $2,000
Lender is prohibited to charge more than$5 for a loan upto$75 more than$15 for $75 to$250 and $25 for loans above $250. This kind of capping done by government has helped the borrowers a lot.
