Medford, NY -- (SBWIRE) -- 10/25/2011 -- Each payday loan lender on the internet platform has a specific set of requirements from the borrowers before they actually consider and sanction the payday loan to them. Light Payday Loan has a certain set of requirements too for the borrowers to meet before the payday loan amount is credited into their account.

“Like all online or offline lending companies, we ensure that the borrower is a US citizen and has attained his or her legal age. We ensure that they provide us with the proof of employment when they are applying for the payday loan. Having a checking account too is important.

The borrower should be employed in the existing company for the past three consecutive months,” said the Head, Light Payday Loan when asked to elucidate on the requirements to qualify for the payday loans at their online lending company.

He added that they would ensure that the borrower is not involved with the military service. The company also has set in place a certain limit up to which the borrowers could borrow the money. This way the online lending company has sealed its risk degree. How much an individual borrower can borrow from the lender of course depends from one lender to another and very frequently it starts at $100 and may go up to $1500 depending on the monthly salary that the borrower receives.

“We also offer online loan repayment wherein the borrower can replay his loan along with the interest and fees too. And in some cases we collect a post dated check too. It however, varies from individual borrower to borrower. Ideal thing would be to get in touch with our financial experts and find out what best suits your situation,” he added.

For a clearer understanding of the requirements that the online lending company has in place, log on to http://www.lightpaydayloan.com.