1 Hour Payday Loans – Get a Loan Quick!

Most payday lenders have automated their approval timeline for borrowers who meet the strict eligibility criteria. But only a handful can process your loan in under an hour.
Author: thadues

Last Updated: June 19, 2020

When you are looking for cash immediately without a great credit score, a one-hour payday loan is your best option. Before you get confused, a one-hour loan doesn’t mean that you need to repay the loan in an hour. No, instead, the loan is processed within an hour and sent to your account.

It is a great option for borrowers who find themselves in emergencies that cannot wait for their next paycheck. Traditional banks don’t offer such types of loans. Their loan process takes a few days at best to a couple of weeks depending on the amount, type of loan and the documentation required to verify your credit status and affordability of the loan – and this is assuming you will be approved for the loan.

Now, as you will see in this short guide a one-hour payday loan varies a lot depending on the means lender, the state and the amount in question. If you apply for the loan online, it means you’ll get the cash in less than an hour (and this includes the customer support team calling to confirm the details and you signing the contract).

But though the thought of having cash in your bank in less than an hour is exciting, you need to take a step back and consider your situation. Can it wait for a little longer? Are there loan options available to you? If yes, seek them out and have the one-hour loan as your very last options (for reasons you shall learn below).

And if you do decide getting a one-hour loan is the best way to go, you should read up on the terms and conditions, how much the loan will cost and how fast you need to repay the loan.

Even if you don’t need it right now, the information will come in handy in your time of need – you never know.

Without much ado, let’s get started.

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    Apply for a Payday Loan Now! | Best Payday Lender 2020

    Our Rating

    Viva payday loan app company logo
    • Loans From $100 to $15,000
    • Instant Application & Approval
    • Bad Credit Considered
    • Lenders From All 50 US States Onboard
    Viva payday loan app company logo
    Note: one-hour payday loans are offered fast, but they could land you in financial problems just as fast if you don’t take time to think through your situation and if you can afford the loan.

    How do one hour loans work?

    The whole process is simple but requires you to pay attention to details. It is said that when the deal is too good, think twice. In this case, we advise our readers to think thrice if possible to ensure they know what they are getting themselves into.Hour Payday Loans -...

    So how do one-hour emergency loans work? Well, first, they work like their name suggests – the loan amount (usually between $100 and $1000) hits your bank account in an hour. It’s that simple. But it can get slightly complicated when you think about the actual process and steps that happen behind the scenes before the loan amount hits your bank account.

    Every one-hour loan lending company in the 21st century has an online presence. So at the very least, you can apply for a loan online through your phone, PC or desktop. Other lenders avail other methods as well, including telephone and in-store applications. These processes should give the same results.

    Once you submit your online application and provide the relevant documentation, the lender assigns staff to your application. The staff reviews the application ensuring you meet the minimum borrower requirements and have provided a list of documents needed for the loan. The staff may call to make confirmations before proceeding to the next step.

    Confirming these details shouldn’t take more than 15 minutes. In the 15 minutes, the customer support staff will also use the information you provide to determine if you can afford to repay the loan. They will use information about your salary and expenditure to determine this.  So ensure that you fill this section correctly. If the lender doesn’t call you to confirm the information, they might call your employer.

    After this step, the loan will either be approved, rejected or modified to suit your current financial status.

    Note:the adjustments are made to ensure that you only get a loan amount you can repay. Lenders have a responsibility to ensure affordability according to the responsible lending laws governing the payday loan industry.

    When the loan is accepted, you will have to provide the original version of the documents (in case you were applying in-store). Afterwards, the lender will present you with a loan contract that details everything you need to know about the loan. Some of the loan contracts show when the loan is due, your next repayment date, the interest and, fees and cost of the loan. Signing the contract means you agree to the regulations and in most cases are granting the lender access to your bank account to deduct the repayment instalment when it is due.

    See, getting the loan is easy. Now, let’s go through how you repay the loan.


    Different lenders have varied repayment methods. However, the most common methods include direct deduction from your bank account. It is because of this that lenders require you to provide them with a bank account that is active (preferably one that receives your income).

    Other methods include manual repayment or offering the lender a check during the application stage. The lender will cash in the check on the due date.

    How long does repayment take?

    Well, it depends on the type of loan and the fine print of the contract. Generally, emergency loans are repaid within a month or six months. But we have seen some lenders offering up to 72 months to repay the loan.

    Types of one-hour Payday loan

    Under the payday loan umbrella, there are a couple of loan types. These types depend on whether you provide security for the loan or not. The two broad types of loans include;

    • Secured – these loans are processed fast but require that you provide collateral for the loan amount. These loans usually have huge loan amounts ranging from $500 to $10,000. You can repay these in a longer period say 72 months.
    • Unsecured loan – these are often extended to individuals with bad credit These loans don’t require security. Heck lenders don’t even check your credit history. However, as a reward for the risk they are taking, the loans often attract high-interest rates.

    How much does a one-hour emergency loan cost?

    Right off the bat, you can guess that these loans have higher interest rates. This is because they;

    • Are processed faster and are therefore ideal for emergencies
    • Are unsecured and hence high risk

    Aside from this, the cost of the payday loans also varies with the loan amount and the state from which you are from. Different states have different rules and regulations about interest rates.

    It’s also worth noting that lenders have different rates as well. But though all these factors contribute to the difference in cost, the general rule is that no payday loan interest exceeds 0.8% per day. Any ender that goes beyond this mark is operating against the law and risks forfeiting the loan if the matter goes to court.

    With that said, expect to see loans with APRs between 150% and 400%. Some lenders also charge a processing fee, an early repayment fee and a lateness fee. Avoid such companies because these costs can accumulate really fast, leaving you to repay almost double the principal amount in less than three months.

    Despite the high-interest rates, you will also come across some lenders offering interest rates well below the recommended maximum. These payday loan companies are keepers.

    Do you qualify for the one-hour plan?

    Hour Payday Loans -...

    Even though the loan is processed in a short time, there are a bunch of considerations made to ensure you are good for the loan. But before these considerations, most lenders have some ‘screening’ requirements. They are designed to ensure only individuals acceptable by law can apply for the loan. Some of these requirements include;

    • You should be a US citizen
    • You should have an active savings account
    • You should be more than 18 years old
    • You should have a stable income with a defined minimum usually $600
    • You should live in a state that accepts payday loans
    • You should not have a high outstanding loan

    When does a one-our payday loan make sense?

    Payday loans are essentially for emergencies. You probably lost your job, or your work time got cut by an hour, your expenses piled up suddenly or you simply need some extra cash to get by until your next paycheck.Hour Payday Loans -...

    In other situations, you might need the loan for minor car repairs to ensure you can get to and from work, need to make your rent to avoid getting evicted, need to pay your utility bill (e.g. your lights. When you compare the cost of the payday loan to any of the above, it is a cost worth paying.

    You can also get a one-hour loan when traditional loans are an option, but they are too slow to meet your current needs. If you need the money in a couple of hours, a traditional loan will not cut it. The approval alone will take several days if not weeks to finalize.

    One-hour payday loans are ideal for borrowers with bad credit histories – the kind of people that traditional lending institutions will not touch.

    How can I apply for a one-month emergency loan?

    You can apply for the loan online, through a telephone or at a physical store depending on the lender services. Each of these processes is fast, and you should have the money in your account with an hour.

    Bear in mind that the actual time taken depends on how fast you provide the documentation the lender requires and the avenue you choose.

    Filling the form will take a few minutes at best and the approval not more than fifteen minutes. You will have to provide your personal information including your;

    • Name
    • Physical address
    • Employee details
    • Expenditure and earnings
    • ID
    • Banking number
    • Proof of income

    Pros and cons of one-hour short term loans


    • They are fast – the whole process takes less than an hour hence the name one-hour payday loans
    • They accept borrowers with poor credit history – this is the one thing payday loans are known for (except for their high-interest rates). Whether you have poor or no credit, lenders are willing to offer a loan if the determine you are good for it
    • Multiple payment options – the lender can deposit the money into your bank account or give you the money cash. The variations depend on the type of lender you work with and the method of application you use


    • High-interest rates – this is not a shock. It is expected. But even then, you shouldn’t let yourself drown in the sea of debt. Evaluate yourself and decide if you should or shouldn’t take the loan.
    • Bank overdrafts – this is a problem caused by direct ban payments. When you give the lender authority to withdraw its payments on a due date, it will do so whether there is money or not. If you don’t have money, your bank will issue an overdraft which to translate to more loan costs.


    One-month loans are saviors for many individuals in financial problems. But before you offer your soul to any lender, read through the guide and determine if you can repay it comfortably. If you cannot, you are better off waiting for another option.

    Apply for a Payday Loan Now! | Best Payday Lender 2020

    Our Rating

    Viva payday loan app company logo
    • Loans From $100 to $15,000
    • Instant Application & Approval
    • Bad Credit Considered
    • Lenders From All 50 US States Onboard
    Viva payday loan app company logo


    How long do one-hour loans take?

    They are processed within an hour and money is deposited into your account within the same hour.

    Can an out-of-state lender offer me a loan?

    No, a lender only operates in a state that it is licensed. If the state you live in doesn’t allow payday loans, then it cannot offer you a loan

    Are there any legitimate one-hour loan lenders that do not need a bank account?

    Yes, some lenders have alternative methods of receiving funds, including prepaid debit card loans or picking up the cash at the closest store.

    Will the payday loan affect my credit score?

    Applying for a loan might go on your credit history report. However, very few lenders opt to report borrowers to relevant authorities. They understand that this could make it even harder to get back on their feet. As such, they only make the report 30 days after the repayment due date.

    US Payday Loans A-Z Directory

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    Thadeus Geodfrey has been a contract writer for Lernbonds since 2019. As a fulltime investment writer, Thadeus oversees much of the personal-finance and investment-planning content published daily on this site. With a background as an iGaming expert and independent financial consultant, Thadeus’s articles are based on years of experience from all angles of the financial world.