When you submit an online application for a payday loan, the information you input is run through several verification procedures. Even though your credit is not checked and no hard credit inquiry is placed on your credit report, lenders will still determine whether or not you are credit worthy for an approval by running your Social Security Number. If you do not input your SSN, or your correct one, you will not get approved for the loan you are looking for.

Lenders will identify who you are through your SSN. In addition, a soft-pull of your credit is also done via your SSN. This inquiry of your credit is not performed via any of three major credit reporting agencies (TransUnion, Equifax, Experian) but through the smaller agencies like CL verify, Teletrack and Datax.

These companies have information on your entire credit history including information regarding any past payday loans you have taken out. They will have info detailing how many open loans you currently have, how many loans you have had in the past as well as whether or not you have paid your loans on time or if you have defaulted.  

Once you submit your info, we will PING your application with our different lenders. A PING is a quick electronic look of your application/personal information and is one of several different variables of your approvals. Our lenders will analyze your application and make an instant decision whether or not to grant you approval based on a collection of rules and regulations in each of their varying loan portfolios. If approval is granted, you will then be directed to a page that will allow you sign your name electronically and get your cash. If your application is denied by one lender, we will continue to PING our lenders until an approval is generated or we run out of lenders and have to deny your application.

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