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Get Cash Advance and PayDay Loan Merchant Accounts in a Tough Environment

payday loan service merchant account

All PayDay Loan services depend on merchant services.

Organize for Approval! 

PayDay lenders have been getting quite a bit of attention recently, and not much of the good kind.

In August of 2013, New York Attorney General Eric Schneiderman charged Western Sky Financial with requiring interest rates of 300%, many times the state’s cap of 25%. More, several large e-check processors cut ties with all payday clients, making it impossible for check cashing, cash advance and payday businesses to serve customers.

The recent crackdowns have sent payday lenders scrambling for ways to keep their doors open. A+ rated First Financial has the reliable cash advance and payday loan merchant account services that keep you in business. We’re proud to help both brick and mortar and online cash advance and payday loan providers service their customers efficiently. Our fast approvals at competitive rates are the best in the industry.

 Fast Approval:  Just a Matter of Document Organization

Here is everything you need to get in business (or BACK in business if you’ve been dumped by another processor) as a payday loan or cash advance service:

  • last six months of processing statement from your current processor if you have one.
  • 3 months of business bank statements
  • business’ articles of incorporation, corporate resolution for officers and bylaws
  • Fictitious Name Statement or copy of Proof of Publication
  • Customer loan agreement
  • Business marketing materials
  • Owner drivers’ license of passport
  • Recent utility bill displaying owner address
  • List of states in which your business operates
  • Business most recent BSA/AML review

As you can see, it’s just a matter of pulling up some files. Possibly you have them all in one place anyway.Once these documents are reviewed, we may request the business’ tax returns, statement of information and fee schedules for finalization.

A+ Rated First Financial Gets your PayDay Loan Service Going Again

Whether you’re just getting started, looking for a new merchant account to replace an existing one or scrambling madly after being dumped by your current processor, First Financial has the solution to stabilize your business. Apply online in minutes. Don’t forget to follow us on Facebook, Google Plus and Twitter for the frequent tips that will help your business thrive!

 

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First Financial

First Financial ® Corporate Headquarters 2850 Womble Road Suite 100-604 San Diego, CA 92106

Client Service Center: Main: 1-800-315-7791 Fax: 1-800-215-0217 (Monday–Friday 5:00am–6:00pm Pacific or 8:00am–9:00pm Eastern)

Merchant Services / High Risk Merchant Accounts: 1-800-950-0212 Fax: 1-800-215-0217

 

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