To apply for a pay day loan, a borrower needs to provide personal identification, paycheck stub, and bank statement.Ê ÊThe borrower gives a postdated check to the lender for the amount of the loan plus the lender's fee.Ê The lender holds the check until the borrower's next pay day.Ê At that time, the borrower has the option of (1) redeeming the original check with cash, (2) allowing the lender deposit the check, or (3) renewing or rolling over the loan, if the consumer is unable to repay it, by paying another fee.

Compare several of the links here and you will can see that rates vary considerably, and not all companies require more information than necessary.

Compare several of the links here and you will can see that rates differ sharply from site to site.