Recommended Best Payday Loan
2010 Report

---

PaydayOne.com

PaydayOne offers a wide range of payday loan options with no credit check, and no faxing required . In most states PaydayOne serves loans upto $1000, but due to various state regulations, PaydayOne is only allowed to offer lower amounts in some states (and some states do not allow online payday loans). This is not a smudge on PaydayOne, but simply the laws of each state. Each individual state regulates how much payday loan companies can legally lend. It's just the law, and PaydayOne is a very law-abiding company. Click here to see how much you can borrow in your state.

Overall, I was very pleased with the PaydayOne process. They are a very professional and courteous company based out of Forth Worth, Texas. They serve 31 states and offer next-day direct deposits for your convenience. They have a full-service phone staff for any questions or concerns you may have. I had no trouble getting through to them, and the representative I talked to was very understanding and courteous. She patiently answered every question I had directly and professionally. Most payday loans can be borrowed anywhere from 14-30 days. Extensions are available in some cases.

---

PaydayOne QuickFacts

• Offers up to $1000
• Bad Credit: OK
• Instant Approval
• No faxing required
• Better Business Bureau: BBB Score
• VeriSign Secure
• Hacker Safe
• Site uses (SSL) security encryption
• In business since March 2003
• 
• 

---

Requirements for a PaydayOne Loan

1. A job or proven source of income
2. A valid email address
3. A valid phone number
4. A checking account in good standing*
5. Must be at least 18 years old

---

PaydayOne Security

Payday One employs a series of security protocols to protect your personal information

• Antivirus protection - helps prevent viruses from infecting their computer servers.
• Firewalls - help prevent hackers from accessing personal data.
• SSL encryption – uses 128-bit Secure Socket Layer (SSL) to transmit personal data to you and your bank (any time you see a URL that starts with https: you know that page is protected by SSL encryption). Learn more about best security practices.

---

The PaydayOne Application Process

1. Fill out form on front page to get started.
2. You're then taken to a secure, https portion of the site to fill out an application (You'll need to give you social security number here, but that's normal. And you can rest assured your information is secure with PaydayOne. They need your social security number to access vital information about who you really are).
3. Complete the application and a confirmation email will be sent to you.
4. At this point you should be instantly approved for a certain amount (I was instantly approved for $250 in the state of California where I live. $250 is the maximum in that state and I could have accepted less if I wanted).
5. Select which date you'd like to pay back you're loan.
6. Accept your application (they'll ask for a few references and a re-payment date. They don't need to contact these references. They just want them in case something looks fishy on your application).
7. Sign the final agreement (check the box).
8. Your loan amount and payback dates will then be displayed.
9. *FAXing is not *usually* needed for approval. However, if they are having problems verifying your employment, you may need to FAX your recent pay-check stubs for verification.
10. They will need to verify that you're employed. The process they use to verify employment is: they call your employer, they don't identify themselves as a payday loan site, they say something like, "This is a professional matter from PDO. Does John Doe work here?" If the answer is yes, that's all they need, then hang up.
11. *Self-employed people can still get a payday loan, but a few extra steps are needed to verify income. Self-employed people will be required to submit either a form 941, or 1099 if you're an independent contractor, or a schedule C from your last tax statement. You'll also need to FAX your last 30 days of bank activity. Your statement must have your official name on it for verification.
12. That's it! You're loan is done. You just need to wait for the funds to be directly deposited into your account the next business day (then make sure you pay back your loan on time, of course).

---

When Can I Get My Money?

Most payday loans can be deposited straight to your checking account on the next business day. Here's what PaydayOne offers.

---

How Much Does it Cost?

Interest rates vary by state and from the length of your loan. Here's a general idea of what you can expect to pay in interest from a PaydayOne loan (PaydayOne also displays their license to do business in each state. A nice touch to let you know they're completely legitimate).

---

How Much Can I Borrow?

Payday loans vary from state to state. Here's a breakdown of what PaydayOne offers.

Min-Max Loan Amounts by State:
Alabama: $100-$500
Arizona: $100-$500
California: $100-$250
Colorado: $100-$500
Delaware: $100-$1000
Florida: $100-$500
Hawaii: $100-$500
Idaho: $100-$500
Illinois: $250-$1000
Kansas: $100-$500
Kentucky: $100-$1000
Louisiana: $100-$1000
Maine: $100-$300
Maryland: $100-$1000
Michigan: $100-$600
Minnesota: $350
Mississippi: : $100-$300
Missouri: $100-$500
Montana: $100-$300
Nevada: $100-$1000
Ohio: $100-$1000
Oklahoma: $100-$500
Oregon: $100-$300
Rhode Island: $100-$1000
South Carolina: $675
South Dakota: $100-$500
Tennessee: $100-$1000
Texas: $100-$1000
Utah: $100-$500
Washington: $100-$700
Wisconsin: $100-$750
Wyoming: $100-$500

States not Served by PaydayOne:
Alaska
Arkansas
Connecticut
Georgia
Indiana
Iowa
Kentucky
Massachusetts
Nebraska
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Pennsylvania
Vermont
Virginia
West Virginia

---

Conclusion

My experience with PaydayOne was a positive one. The phone staff was polite and professional the whole time. They have a modern system of tracking your application process that allows them to easily pull up your information with no trouble at all. The loan rates are acceptable, and they're very serious about obeying every state law. Obviously, they want to be in business for a very long time, and these are all signs of a company that wants to help you get a loan safely and legally.

Currently PaydayOne has a Better Business Bureau score of a "B-". But I know from past experience they had an "A" score for a majority of the time. From examining their BBB report card, they've resolved the majority of their complaints and it looks like a better rating should bounce back soon. Even still, PaydayOne has a long record of quality, safe, and legal payday loans. I would highly recommend them if you absolutely need a payday loan.