Payday Loans in Alabaster, Alabama

Incidents happen, and we often end up in a situation where we have to cover some surprise expenses. Think about applying for a cash advance loan in Alabaster, Alabama, to see if you qualify.

The application process is quick and simple. To qualify, you have to satisfy a few simple criteria.

What is a Paycheck Advance Loan? What Can It Cover?

A paycheck advance loan is where the borrower will get a small amount of cash on a short-term contract. This is considered an unsecured personal loan due to the fact that no collateral is required.

When surprise bills arise, such as late rent or utility bills, vehicle bills, medical or vet costs, and so forth, individuals usually turn to payday loans.

Payday Advance Loan Stipulations In Alabaster, Alabama

In Alabaster, Alabama, payday advance loan borrowers need to satisfy a few requirements to be eligible for a loan.

The borrower is required to:

• Prove that they live in Alabaster, AL
• Must be at least 18
• Receive a steady stream of income that they can provide proof of being at least $1,000 per month
• Give current contact details such as cell phone number and email address
• Give their social security number

If a borrower does not abide by the above criteria, they will immediately be denied a cash advance loan. Ensure that you can provide the documentation required when submitting your application.

Laws and Regulations Concerning Payday Loans in Alabaster, AL

The State of Alabama has ruled payday lending legal. Although, they have created the below rules and regulations for the paycheck advance lending industry:

• A single lender can't extend a loan for more than $600. Borrowers cannot possess more than two active loans from different lenders. There is no smallest loan amount.
• The minimum loan term is not set, the maximum loan term length is 31 days. In the State of Alabama, borrowers are not allowed to rollover their loans.
• The fees and charges vary for each loan lender. The service fees charged by the lender on a loan are not considered interest. The service fees apply to every $100 borrowed and can range between 11-15%.
• An interest rate is required to be mutually decided upon. APR can range up to 369%.

Will Cash Advance Lenders in Alabaster, AL, Perform Credit Checks? What If I Have Bad/No Credit History At All?

Yes, the lenders we partner with will run a credit check on you, but, even if you possess no credit or poor credit, you may still be approved for a loan as long as you can prove that you are able to pay back the loan. Lenders are generally unbothered by your credit history if you possess proof of income and a plan to pay back the loan.

Lenders will conduct a soft credit inquiry, which will not impact your credit score. This is solely to get an idea of your credit history and basic information.

A hard credit pull, on the other hand, must have your explicit consent. These credit pulls are performed for various purposes, such as mortgages, credit card applications, and more.

You can still qualify for a payday loan with imperfect credit in Alabaster, AL, as long as you can prove you will repay the loan.

So, when you apply, whether it is in person or online, ensure that you have your income information easily accessible and any other documents verifying that you can repay the loan. The more evidence you have, the better chance you are to be approved.

When Will I Receive My Deposit in Alabaster, Alabama?

When you get your funds truly depends on the lender as some lenders provide same-day cash advance loans, which means you will see your payday advance loan on the same day you submit your application, as long as you get an approval.

Most of the time, however, lenders will give the borrower their lump sum on the following business day. Businesses generally close for holidays and weekends. Because of this, if you apply on a Friday, you might not see your deposit until Monday.

If you're looking for a same-day cash advance loan in Alabaster, Alabama, you will need to be sure that you're applying by 10:30 am. Any and all same-day loans going out that day will be approved by that time. However, you should request a loan earlier than that if possible, as it will increase the likelihood that you receive your funds on the same day that you submit your application.

One other factor that you should be aware of is despite if the lender grants your loan request and posts the funds to your checking account, occasionally the bank won't release that loan right away. It's vital that you let your bank know that you plan to receive a payday loan, so they might make an exception in releasing the cash earlier.

On the whole, it's wise to prepare ahead of time to get your funds on the next business day. That way, you're not surprised if you cannot get it on the same day.

Think About Working With Us

If you possess less than great credit or no credit and are needing to secure a payday advance loan, think about applying through us, as you probably have a better chance of approval.

We work with over one hundred different lenders who provide their services online. Most of the time you will get your cash on the following business day so ensure that you plan correctly.

However, you can always locate the closest paycheck advance loan storefront to you and apply in person to increase the chances of receiving your money on the same day. When requesting a loan in person, make sure that you have your government ID or driver's license; a passport will work as well. Now and again, lenders may ask for proof of address, so bring a utility bill to the store too.

To locate the nearest payday loan store, please navigate to the list below and locate your city.

Payday Loan Direct Lender Companies in Alabaster, AL

Below you will find a list of payday loan companies offering their services in Alabaster, Alabama. If you can't find a lender near your location in Alabaster, consider applying in a nearby city in Alabama. Alternatively, you can apply online on our website and get a decision almost instantly.