800 Dollar Payday Loan: How To Find A Reputable Lender?

Category: Questions & Answers

Ron asked us the following question:

“Help! I need around eight hundred bucks and I’m thinking if payday loan vendors give this much cash. Where do I find these lenders?”Ron, San Jose, CA

The popularity of short-term personal loans today is driving lenders to offer more loan options as they vie for the borrowers’ attention. Among others, a higher loan amount is now being peddled to borrowers, including a 800 dollar payday loan.

Traditionally, payday loans, which are also popular in the UK and Canada, only ranged from 200 to 500 dollar loan because of the inherent risk in lending out to people with bad credit. But as borrowers have more stable jobs today in light of the country’s stabilizing economy lenders are more confident now that borrowers can pay back on time. Still, taking out a higher loan amount like a 800 dollar payday loan may not be as fast and easy as getting $300, for instance. That’s because a direct lender will still gauge individual borrowers based on their capability to pay the loan. That means, it’s not just whether you have a job now, but if your new salary can meet the loan amount.

Likewise, despite the negative press that payday lenders are getting, the study from the York University anticipates that the industry is starting to integrate ethical business practices as mainstream financial institutions come on board. But why depend on lenders to get a fair treatment when you can use these loans to your advantage? For one, make sure to only borrow for emergency and not to buy for leisure or unnecessary item. Likewise, pay off the loan at once, one or two installments preferably, so as not to incur extra interest.

Use loan search sites that allow comparison shopping

Finding a higher loan amount is as simple as using a loan search site. These are websites that act as portals of different direct lenders. They are similar to travel airline booking engines that scour the internet to find the best match for you. They are not lenders themselves, but they partner with lenders which in turn like the idea of being able to reach more borrowers via these portals.

Obviously, the bigger the pool of direct lenders of the loan search site, the higher the chance that you can find a vendor that’s willing to loan you out eight hundred bucks.

These sites usually have a form where you need to put in your basic personal, work and bank details, plus the amount you need and other relevant information.  The search site will churn out the best matches based on the specifications that you’ve provided.

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Work your way up

In case you can’t find a lender that’s willing to give you an approval for 800 dollar payday loan you can start by taking out smaller loans. Remember that even if lenders are quick to approve loan requests now, they still assess the amount that they’ll be approving. For example, if the 800 dollar payday loan is more than 30% of your gross income, you’re likely to get a smaller loan at first.

By taking out smaller loans and repaying them on your next paycheck, you’re building trust with the lender. Soon enough, the lender may decide that you’re ready for a 800 dollar payday loan.


The higher the amount of the loan doesn’t mean it’s better for you. In fact, it only means you’ll be paying more in interest. Before taking out a bigger loan make sure that you can pay the whole amount on your next paycheck. Otherwise, the interest alone will be eating up your salary every payday. The Consumer Financial Protection Bureau has issued an advisory that payday loans can lead to a cycle of indebtedness if borrowers don’t pay on time.

By Louie Andre

B2B & SaaS market analyst and senior writer for FinancesOnline. He is most interested in project management solutions, believing all businesses are a work in progress. No stranger to small business hiccups and drama, having been involved in a few internet startups. Prior to his for-profit ventures, he has had managed corporate communications for a Kansas City-based Children International unit.

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