top of page

PAYDAY LOANS REQUIREMENTS 

Washington State Rates and Terms

To verify if you qualify for a loan

Call 1-877-WA-LOAN-9

​

Loan applicants are required to provide these documents to determine eligibility:        

         

  •   VALID government issued Photo ID (state ID, driver’s license, etc.).

          Must be a local resident.

​

  •    Current Checking Account statement dated with-in the last 15 days with 30 days activity.

          Bank Statement must NOT have a negative balance, NSF Fee’s, Overdraft fees or any fee’s that are equivalent to said            fees.

​

  •   Check with printed name and address from checking account. NO blank counter checks accepted.

​

  •   3 months Verified Employment (most recent paycheck stubs that accumulates to one month's pay with the year-to-        date gross income), or Social Security Award Letter.

​

  •   Verified Residence (Utility bill or cable bill).

​

  •   Social Security Card.

​

If eligible, limitations on first & second time borrowers.

Not accepting new customers

EXAMPLE OF APR & FEE SCHEDULE
​
The Annual Percentage Rate "APR" will vary depending on the length of your loan (see table below). The table below shows the APR for loan amounts ranging from $50-$500 and loan terms ranging from 8-45 days.
Terms of the loan may vary. See your loan agreement for disclosure terms, APR and length of loan terms.
​

Cash Source Application

YOUR RIGHT TO AN INSTALLMENT PLAN
​
A borrower has the right to convert a small loan into an installment plan. The borrower must make the request before close of business day when the loan is due. No penalties and no additional fees added. 
YOUR RIGHT TO RESCIND (CANCEL) THIS LOAN
​
A borrower may rescind a small loan no later than the end of the business day immediately following the day on which the small loan was made. To rescind a small loan, a borrower must inform the lender that the borrower wants to rescind the small loan, and the borrower must return the cash amount of the principal of the small loan to the lender.
PAYDAY LENDING-BORROWERS RIGHTS AND RESPONSIBILITIES
​
Please click for information regarding changes to the payday lending law due to chapter 510, Laws of 2009
(ESHB 1709).
​
​
bottom of page