Payday Loans

At times you may find you need a little extra cash to help bridge the gap to your next payday, and this is when a payday loan can come in handy! Payday loans are short-term, small dollar loans which are typically paid back when you receive your next paycheck. You can find a payday loan in many retail storefronts, or online through a website like Cash Central. No matter which you choose the process will generally be the same, but with a storefront you usually walk out with cash in hand, while an online payday loan will usually deposit funds directly in your checking account.

How Payday Loans Work

An online payday loan with Cash Central is simple, quick, and easy. To apply for a Cash Central payday loan:

  • Fill out our 3-step application and receive an approval decision within minutes.
  • Request a loan that fits you and your personal situation.
  • Have funds deposited directly into your checking account as soon as the next business day.*
  • Pay your loan back in full on your next payday via an authorized electronic withdrawal from your checking account.

To apply for a payday loan online with Cash Central you will need:

  • A verifiable source of income.
  • Valid checking account in your name.
  • A current (and valid) telephone number.
  • Your social security number.
  • You must be at least 18 years of age. In Alabama, you must be at least 19 years of age.

Uses for a Payday Loan

People from all walks of life use payday loans to meet a variety of financial needs. Payday loans can be expensive and therefore should only be used as a short-term solution to meet immediate necessities or emergency expenses. However, when used as intended, payday loans can often be the most affordable option for a customer who may otherwise encounter NSF fees from the bank or late fees on a credit card. Typical uses for a payday loan include:

Payday Loan Costs

Payday loans can be expensive, but the costs aren’t quite as scary as they may seem. Interest rates on a payday loan are incredibly high, there’s no doubt about that. However, interest rates are presented as an annual percentage rate, or APR, meaning that’s the rate you would pay if you held the loan for an entire year.

Payday loans are not extended over an entire year as they are short-term loans and are typically due between two to four weeks in accordance with your payday. To best understand the costs of a payday loan it may be easiest to look at the lenders finance charge, which is typically a flat fee per $100 borrowed. Cash Central’s fees range from $15 to $27 per $100 depending on the regulations of your state. To find out the cost of a payday loan in your state, visit our Rates & Terms page.


With a payday loan your due date will typically be your very next payday. At that time, your principal balance plus applicable finance charges and fees will be automatically deducted from your checking account via an authorized electronic withdrawal. However, we understand life doesn’t always go as planned and there may be times when you are unable to pay your loan on its due date. Depending upon the state and the circumstances we may be able to offer payment options that could fit your needs, including courtesy moves, refinances, extended payment plans (EPP) or variable payment plans (VPP). Payment options can vary depending on the state you live in, so give us a call at 1-800-460-4305 for more information. To ensure we have enough time to accommodate your request, please call us before 6:45 PM EST at least one day before your due date.

Benefits of a Payday Loan with Cash Central

Cash Central has been on the forefront of short-term lending integrity since day one. Despite negative publicity that occasionally swarms the payday loan industry, Cash Central takes pride in its lending approach. The choices of where to secure your loan may seem endless but here are a few things to consider as to why we may be the right choice for you:

A payday loan shouldn’t add stress to your situation. That’s why Cash Central strives to make online lending simple.

*When application is submitted by 7:45 PM EST. Customers entering into their first loan with Cash Central may experience a delay in loan funding.