Moola is definitely right up there as one of the fastest ways to get a payday cash loan. We’ve designed our loans to help you with temporary cash flow issues in between paydays. And we reckon our application process is one of the best around. Before you apply we recommend you read our Q&A page but here is an overview of what you need to get a payday loan.
If you meet these basic criteria your application for a payday loan immediately moves forward into the review and consideration phase. From there we assess your ability to pay the payday loan back.
Actually, you don’t really need to have anything ready - not even ID! Just make sure you have your bank account details on hand and a bit of information about your net pay, which is needed to fill out the online application and we take it from there. We verify your income with a link that we email you, and we contact your employer to check your details and confirm you’re employed.
No, you can get a payday loan without a guarantor with Moola. We request “security” in the form of a Wage Deduction Authority. This is something you’ll sign as part of the loan documentation and it means that if you don’t hold up your side of the agreement (paying the loan back) we can give this form to your employer and payment (plus costs for defaulting) will be come to us directly from your pay packet.
It’s ok if you have bad credit, you can still get a loan. We assess each and every application individually based on whether we think you’ll be able to pay it back.
As we said above, approval for a payday loan is based on whether you meet our standard criteria and whether you can pay it back. If you have a job we’ll contact your employer to make sure you earn enough to make repayments and still live comfortably.
That’s ok. But you will need to have your own cellphone and email address, not a shared one. You might be interested to know that you can have as many Moola loans as you like, just not all at the same time. You must pay your current short-term loan off completely before we’ll loan to you again.
Totally! When it comes to payday loans, we’ve designed our system to be the quickest, clearest and fairest around, and it’s 100% online.
Depending on your net income per week, you can borrow up to $1000 (following from a limited amount for your first payday loan). However, at Moola, we take being responsible lenders seriously, and this includes not letting you get in over your head. That’s why we assess every application based on your ability to pay it back at that time, and still be able to meet your living costs. We’ll only ever lend you up to 30% of your income, something we can and will check when we contact your employer to confirm your details. FYI, this can be the biggest hold up in getting approval so letting them know we’ll be in touch will help speed things up. This is the quickest way of verifying your eligibility, which means faster money for you. Also, we take fraud seriously and these checks ensure no one else is using your details to fraudulently obtain a loan.
Design your payday loan using our easy slider bar calculator on the homepage; decide how much you need and the duration of the loan and we’ll show you exactly how much you’ll owe all up, including fees and interest. We don’t hide anything.
You choose a repayment schedule and the money is taken out of your bank account overnight before it’s due – assuming there’s enough in there of course. You will incur default fees if there is not (check out our fee table) and your bank might have a penalty fee too. Like the sound of how easy getting a Moola fast little loan can be? Apply now and within 60 minutes of approval that money will be with you and your payday loan sorted.
If you have any more questions our support team is available on live chat support on our website during the day so just ask, we’re happy to help.