Simple eligibility criteria to get your payday loan approved
Qualifying for Crane Finance Loans is easier than you might think. We've designed our process to be accessible to most working Americans. Here's everything you need to know about our requirements.
Requirement: Must be at least 18 years old
You must be a legal adult to enter into a lending agreement. Additionally, you need to be a U.S. citizen or permanent resident with a valid Social Security number. This is required for identity verification and credit reporting purposes. You'll need to provide a government-issued photo ID such as a driver's license, state ID card, or passport. The name on your ID must match the name on your bank account for Crane Lending services.
Requirement: Minimum $1,000 monthly income
You need a steady, verifiable source of income. This can come from employment (full-time or part-time), self-employment, disability benefits, Social Security, retirement income, or other regular sources. You must have been receiving this income for at least 3 months. Lenders want to ensure you have the means to repay your CraneFinance loan. You'll need to provide your employer's name and contact information, or documentation of other income sources.
Requirement: Checking account open 90+ days
You must have an active checking account in your name that's been open for at least 90 days. This account is where your Crane Finance Loan funds will be deposited and where automatic payments will be withdrawn. The account must be in good standing with no recent overdrafts or negative balances. Savings accounts typically don't qualify as they have withdrawal limitations. You'll need to provide your bank name, account number, and routing number during the application.
Requirement: Resident of eligible state
You must be a resident of a state where payday lending is legal and where our lender network operates. Not all states allow payday loans, and regulations vary by state. Your physical address must match your state of residence, and you may need to provide proof such as a utility bill or lease agreement. Crane Financial Loans are not available in all 50 states due to varying state regulations. The application will verify if your state is eligible.
Requirement: Valid phone and email
You must provide a working phone number (mobile or landline) and a valid email address. Lenders need reliable ways to contact you about your application status, loan approval, funding, and repayment. Make sure you have access to the phone and email you provide, as time-sensitive communications about your Crane Loans will be sent to these contacts. Some lenders may call to verify information or discuss loan terms before final approval.
Requirement: Ability to complete online forms
Since CraneFinance operates entirely online, you need internet access and the ability to complete digital forms. You should be comfortable providing information electronically and reviewing loan documents on screen. You'll also need to be able to electronically sign loan agreements. Most modern smartphones, tablets, and computers work fine for our application process. You should also have access to email to receive important communications and loan documents.
Credit Requirements: While lenders may check your credit, many in our Crane Lending network specialize in working with borrowers who have less-than-perfect credit. Bad credit or no credit history doesn't automatically disqualify you. Lenders focus more on your current ability to repay based on income and banking history.
Outstanding Loans: Some lenders won't approve new loans if you have existing unpaid payday loans with other lenders. Being in default on a previous payday loan will significantly hurt your chances of approval. It's best to have no more than one payday loan at a time.
Bankruptcy: If you've recently filed for bankruptcy, especially if it's still active, this may impact your ability to get approved. However, an old bankruptcy that's been discharged may not be a major factor if your current financial situation is stable.
Payday loan regulations vary significantly by state. Here's what you should know:
Due to state regulations, Crane Financial Loans and most payday lending services are not available in the following states: Arizona, Arkansas, Connecticut, District of Columbia, Georgia, Maryland, Massachusetts, New Jersey, New Mexico, New York, North Carolina, Pennsylvania, Vermont, and West Virginia. If you live in one of these states, you won't be able to complete an application through our service.
While our initial application doesn't require document uploads, lenders may request these for verification:
Have these documents ready in case a lender requests them. Being able to provide them quickly can speed up your CraneFinance approval process.
If you meet all these requirements, you have a good chance of approval:
Apply now and get connected with Crane Loans lenders who want to work with you
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