by Alexandria D.
Life happens, and so do unexpected expenses, whether you’re ready for them or not. If you need a cash advance before your next paycheck, a payday loan might be a good solution when you experience a financial emergency or have urgent expenses.
Let’s take a closer look at payday loans: what they are, how they work, when you might consider one, common myths, and how to apply for a payday loan at ACE Cash Express.
What is a payday loan?
A payday loan is a small-dollar, short-term loan designed to help cover unexpected expenses between paychecks. If approved, the borrower generally repays the loan balance in full on their next payday.
If approved for a payday loan, you may have a few different options available to receive your funds. Depending on the lender, you could get your cash either that same day or the next business day.
Loan amounts you can apply for will vary from state to state. Payday lenders may offer loans online, in-store, or both, depending on your state.
How do payday loans work?
Licensed payday lenders offer small, short-term loans that follow state-specific guidelines. Not all states allow payday loans, and your eligibility depends primarily on where you live.
- Find a reputable lender near you or online that operates in your state
- Complete a loan application. Be ready to provide proof of your identity and sources of income, as well as other documents required by the lender.
- Submit your application.
- If you’re approved, choose how you want to receive your funds.
The lender will set the loan repayment due date and terms during the loan origination process, Payday loans are typically repaid in full on your next payday. Pay close attention to the details of the loan agreement before you sign. If you need help understanding the terms and fees, ask questions.
When should I consider a payday loan?
While borrowers can apply for a payday loan for many reasons, financial emergencies are the most common scenario. If you have an urgent expense – such as a car repair, medical bills, or utilities – but you don’t have the money, a payday loan may help bridge the gap between the stress of the expense and the next time you get paid.
How to Apply for a Payday Loan at ACE Cash Express
VIDEO: Why Choose ACE Cash Express for a Short-Term Loan?
Anyone can apply for a payday loan at ACE Cash Express, either online or in-store where available, and get a quick decision.1 ACE does not charge an application fee and offers a satisfaction guarantee - if you change your mind about your payday loan, just return the principal within 72 hours of the loan origination and pay nothing more.2
With our streamlined application process, a few pieces of information are all you need to start your loan application.
To apply online, follow these steps:
- Access the online payday loan application on your computer or mobile device.
- Submit your information accurately and honestly. It takes only a few minutes to complete the application.1
- After you apply for a payday loan through the ACE website, you’ll get a quick decision.1
- If approved and if eligible, you may be able to have your funds delivered instantly to a qualifying debit card,3 deposited into your bank account the next business day,4 or picked up same-day at a local ACE Cash Express store.1
To apply in-store, follow these steps:
- Visit an ACE store near you and ask to apply for a payday loan.
- Fill out the application in just a few minutes. An ACE associate is there to help with any questions you have.
If approved, you will walk out with cash in hand.1
How much money can I borrow with a payday loan at ACE?
If you are approved, the loan amount received depends on the state where you live, your income, and our standard underwriting criteria.1 ACE offers payday loans in these ranges in the following states
- California (in-store and online): $100 - $255
- Florida (in-store): $100 - $500
- Idaho (online): $100 - $1,000
- Indiana (in-store): $50 - $825
- Kansas (in-store and online): $100 - $500
- Louisiana (in-store and online): $100 - $700
- Missouri (in-store): $100 - $500
- Oregon (in-store): $100 - $300
- South Carolina (in select stores): $100 - $550
- Tennessee (in-store): $100 - $425
- Texas (online): $100 - $1,500
Are there other personal loan alternatives to payday loans?
Payday loans may not be your only option for quick cash in a financial emergency. You might consider an installment loan if that product is available in your state. An installment loan is a short-term personal loan that a borrower repays in scheduled payments (installments) – that are substantially equal in amount – over a specified length of time.1
If you’re approved for a payday loan or an installment loan, you can use the funds to help cover emergency costs, such as healthcare bills or home and car repairs. However, installment loans and payday loans differ in how they are repaid. The main difference is that you repay an installment loan over time instead of all at once, as you do with a payday loan.5
What are some myths about payday loans?
Some people might not apply for payday loans because of the myths surrounding them.
Here are two common myths we’ve debunked:
Myth: Payday loans are secured loans.
Truth: A payday loan is an unsecured loan. A secured loan is a loan where the borrower gives the lender a form of collateral, such as the title to their vehicle. If the borrower doesn’t repay the loan, the lender can secure its repayment by selling the vehicle to cover the loss. An unsecured loan doesn’t include a form of collateral. Instead, the borrower may pay a bit more in fees to help protect the lender if the borrower doesn’t repay the loan.
Myth: Payday loans are only offered in person.
Truth: Payday loans are available in-store and/or online. The product offering varies by state and lender. Not all states offer payday loans. ACE offers payday loans online, in-store, or both in 11 different states.
For more debunked myths, watch this short YouTube video: 4 Myths About Payday Loans.
Don’t let an unexpected expense bust your budget. Apply now for a payday loan online or visit an ACE store near you.
FAQs
How are cash advances different from payday loans?
These terms are used interchangeably. Lenders offer cash advance loans to consumers for borrowing money to cover emergencies or other unexpected expenses. These short-term loans are designed for the borrower to repay quickly. Typically, repayment is due on the borrower’s next payday, which is why a cash advance loan is often called a payday loan.
Where can I get a payday loan at ACE?
Depending on your state, you can apply for a payday loan online or at an ACE store. Use our store locator to see if a location near you offers payday loans.
Why choose ACE for a payday loan?
We make it easy to obtain cash when you need it most. Since 1968, ACE has opened its doors to consumers looking for financial services. ACE delivers a broad range of financial products and services, including short-term consumer loans, card services, ATM services, check cashing, money transfers, bill payments, and money orders.
Does ACE Cash Express check my credit score when I apply?
ACE may obtain information from a non-traditional consumer reporting agency, and the inquiry may affect your overall credit profile with the applicable agency, but it will not impact your FICO® Score.
This blog is not intended to provide any tax, legal, financial planning, insurance, accounting, investment, or any other kind of professional advice or services. To make sure that any information or suggestions in this blog fit your particular circumstances, you should consult with an appropriate tax or legal professional before taking action based on any suggestions or information that we provide.
Sources:
Millerbernd, Annie, et al. “Secured vs. Unsecured Loan: What’s the Difference? - NerdWallet.” NerdWallet: Finance Smarter, Nerd Wallet, 16 Apr. 2025, https://www.nerdwallet.com/personal-loans/learn/secured-vs-unsecured-loans.
Disclaimers:
Applying will not affect your FICO® Score. ACE Cash Express may obtain information from a non-traditional consumer reporting agency and the inquiry may affect your overall credit profile with the applicable agency, but it will not impact your FICO Score.
1. All loans subject to approval pursuant to standard underwriting criteria. Rates and terms will vary depending upon the state where you reside. Not all consumers will qualify for a loan or for the maximum loan amount. Terms and conditions apply. Loans should be used for short-term financial needs only, and not as a long-term solution. Customers with credit difficulties should seek credit counseling. For online loans, approval and funding may require verification of application information. Depending on ability to verify this information, loan funding may be extended up to two days. In-store cash pickup of online loans is subject to approval pursuant to standard underwriting criteria and only available at ACE Cash Express locations in the state where you originated your loan. In-store cash pickup of online loans not available in all states. In-store cash pickup of online loans requires valid, non-temporary government-issued identification. Online and in-store loans not available in all states. Populus Financial Group, Inc. is licensed by the Department of Financial Protection and Innovation pursuant to Financial Code Section 23005(a) of the California Deferred Deposit Transaction Law. Populus Financial Group, Inc., 300 E. John Carpenter Fwy, Ste. 900, Irving, Texas, 75062, ST.760164.000. Loans in Texas arranged by ACE Credit Access LLC and made by, and subject to the approval of, an unaffiliated third-party lender. Populus Financial Group, Inc. is licensed by the Virginia State Corporation Commission, PL-115.
2. Florida residents have until 5:00 p.m. CT on the third business day after receiving your funds to cancel your loan. For example, if you take out a loan on Monday, you have until 5:00 p.m. CT on Thursday to cancel your loan.
3. If you are approved for the instant funding option and you select that option, your loan proceeds may be available within 30 minutes of loan approval and verification, or funding could take up to 4 hours. Funding times vary based on your bank.
4. If approved by 6 p.m. CT on Monday - Friday for weekday applications, and by 2 p.m. CT on Sunday for weekend applications, you will generally receive the funds the next business day. On banking holidays, your funds will be delayed until the next banking business day. For example, if Monday is a banking holiday, then you will not receive your funds until Tuesday.
5. Individual payment amounts for an installment loan are smaller when compared to the single-payment payday loan for the same loan amount. The total sum of payments for an installment loan will be higher than a single-payment payday loan if you pay off the installment loan according to the payment schedule set forth in the associated loan agreement.
Our credit or credit services decision on your application may be based in whole or in part on information obtained from a consumer reporting agency, including, but not limited to, Clarity Services, Inc., FactorTrust, Inc., and/or LexisNexis. The inquiry may affect your overall credit profile with the applicable agency, but it will not impact your FICO Score.
