When you are in need of cash quickly, getting a payday loan might be your best option. It lets you get money the same day you apply, and it  doesn’t have to be repaid until you get your next paycheck. However, there are some requirements that must be met in order to qualify for a payday loan.

Have a Bank Account and Checkbook

The first thing you need to get a payday loan is a bank account and checkbook. You must have a checking account, since the payday loan business will call to verify your account. They want to know it is still in good standing, and might also check not only the amount in your account, but your history with bounced checks and other negative marks. You also need to have printed checks connected to your account, as you will write one in order to get your payday loan.

Provide Proof of Your Phone Number

The lenders want to be sure they can contact you, so not only do they ask for your phone number, but they will verify it before you leave. This is also done by online payday loan businesses. If you go to a local payday lender, bring your cell phone with you and list it as your primary phone number. They will call it to be sure they hear your phone ring, ensuring it is a valid number. If you give a landline number, someone needs to be home to answer the phone. If you are applying online, they will call the number you give them and ask for personal information to ensure it is you.

Show Proof of Income

An important thing to have when you apply for a payday loan is proof of income. Not only will they check your bank account, but they need to make sure you are currently employed. Provide the lender with several of your most recent pay stubs that show who you work for, how much you make, and how often you get paid. Some places also call your employer to make sure you still work for them. If you are a freelancer or own your own business, you can provide them with your most recent tax returns as proof of income.

Personal Identification

You also need to have personal identification, whether you apply locally or online. If you are going to a local payday loan business, make sure you not only have basic information like your driver’s license and Social Security card, but also proof of your address. They want to know that your current address is valid in case your check bounces, so they’ll want to see a utility bill or bank statement with your current address. If you are applying online, you need to be able to scan copies of all required documentation and send them electronically.

With these simple tips, you will know what to have handy before you apply for a payday loan. Keep in mind that some lenders have more specific requirements.