How does the online loan process work?
Once you have submitted your application online, it is reviewed and approved. The cash advance is then deposited electronically into your account within one business day. When the first loan payment is due, you can either pay the loan back in full, or opt to pay in installments. The installment must be greater than or equal to the amount of the minimum required payment. Payments will be automatically withdrawn from the customer’s account on each due date. This is done for your convenience.
Exactly how much cash can I borrow online?
First time borrowers can apply for cash loans from $100 to $500. Returning customers can get up to $1,500, depending on qualifying guidelines.
What does it cost me to take out a cash loan?
In most cases, the payday loan fee is 25% of the amount borrowed. The fee for a $100 loan would be $25, so you would be expected to pay $125 on your due date, or less if you are able to pay sooner!
How long until I receive the money?
Cornerstone Payday does not operate on weekends or national holidays, so deposits always take place on business days. Once you are approved it will take one business day to see the money in your account. To ensure that your cash loan reaches you by the next day, submit your application before 2:00 p.m. EST. Please understand that Cornerstone does NOT issue the actual loan and/or any copies of your loan. Any inquiries about your loan must be dealt with the actual Payday Loan Lender that Cornerstonepayday.com matches you up with.
What are Cornerstone Payday’s hours of operation?
You can reach us Monday through Friday, 9:00 a.m. to 5:00 p.m. EST. Once again, we are not open on weekends or national holidays, but you may apply for a payday loan online any time.
What are the requirements for a personal loan?
Customers must be employed, and making at least $1,000 a month. You must not have any bounced checks on your record. Customers cannot have more than one other cash loan with another lender at a time.
What is the time period for the cash loan?
Due dates are always scheduled for your next payday, unless payday is less than five days away. Customers have up to 16 days to pay back a short term loan.
How long should I take out the payday loan for?
Payday loans, cash advances and personal loans are meant to be short-term loans. They should be paid back as quickly as possible, usually your next payday.
When is payment due?
A payment request must be submitted anytime before the deadline, 2:00 p.m. one business day prior to the due date. You can submit your payment request even earlier, but payment will never be posted until the due date. Your due date is your payday.
How can I fax over my information if I don’t have a fax machine?
Both Kinko’s and UPS store locations can fax documents for you. You can visit the store websites to locate an office nearest you. You can also scan, upload, and email the document as an attachment to the lender, however, most lenders don’t require you to fax anything!
How much money will be taken from my account when payment is due on my loan?
Twenty-five dollars is the minimum payment required for each cash loan. You can opt to pay your loan in full, or in installments of at least $25. Remember, in most cases, an additional 25% is added to the amount you borrow. Those who borrow $100, will have $125 withdrawn from their account unless a payment installment plan has been established. Those who are paid once a month are required to pay in full at the end of the loan term.
Can I be approved?
It is incredibly easy to be approved for a cash loan by Cornerstone Payday. Most of our customers have no problem getting approved, unless you are currently unemployed or have recently bounced a check.
How do I make a payment on my cash loan?
Visit the Cornerstone Payday website and click on the payment tab at the top of the page. Your login information will be requested. Provide your social security number and the password you used to set up the account.
How can I alter my banking information before my next payment?
Simply fax over a copy of any voided check from your new account, a copy of your banking statement, and your change of banking information through the EFT form. You can download the EFT form from our site, or we can fax or email it to you. The new banking information must be sent over to us before your payment request deadline.