Payday Loans in Alexander City, Alabama

Things happen, and we usually end up in a situation where we have to pay for some unexpected costs. Consider applying for a cash advance loan in Alexander City, AL, to see if you qualify.

The loan application process is fast and straightforward. To be qualified, borrowers must meet a few straightforward requirements.

What is a Cash Advance Loan? What Can It Be Used For?

A paycheck advance loan is where the borrower will get a small sum of money on a short-term contract. This is considered an unsecured loan as no collateral is expected.

When unforeseen expenses present themselves, such as late rent or utility bills, vehicle fees, medical or vet payments, and so on, individuals commonly seek out payday loans.

Paycheck Advance Loan Requirements In Alexander City, AL

In Alexander City, Alabama, payday advance loan borrowers are required to meet a few stipulations to be eligible for a loan.

The borrower must:

• Show proof that they reside in Alexander City, AL
• Must be at least 18
• Receive an income that they can provide proof of being at least $1,000 per month
• Provide active contact information including phone number and email address
• Provide their social security number

If a borrower does not abide by the above criteria, they will immediately be denied a payday advance loan. Make sure you possess the documentation required when requesting a loan.

Laws and Rules Concerning Payday Loans in Alexander City, AL

Alabama has ruled cash advance lending legal. However, they have set the below rules and regulations for the cash advance lending market:

• An individual lender cannot offer a loan in excess of $600. Borrowers may not take out greater than two unpaid loans from different lenders. There is no minimum loan amount.
• There is no minimum loan term, the longest loan term length is 31 days. In Alabama, borrowers are unable to rollover their loans.
• The fees and charges are different for each loan lender. The service fees enacted by lenders on a cash advance loan are not considered interest. The service fees apply to every $100 loaned and can vary between 11-15%.
• An interest rate must be mutually settled upon. APR can be as much as 369%.

Will Payday Advance Lenders in Alexander City, AL, Run Credit Checks? What If I Have Dismal/No Credit History At All?

Yes, the lenders we partner with will complete a credit check on you, still, even if you have no credit or less than optimal credit, you may still be eligible for a loan given that you can show that you can repay the loan. Lenders are usually unconcerned about your credit if you provide proof of income and a strategy to repay the loan.

Lenders will rely on a soft credit check, which will have no impact on your credit score. This is solely to get a feel of your credit history and general information.

A hard credit check, on the other hand, needs your explicit consent. These credit checks are performed for a plethora of purposes, such as mortgages, credit card applications, and more.

You might still be approved for a payday loan with imperfect credit in Alexander City, Alabama, as long as you can prove you will repay the loan.

Therefore, when you apply, whether it is in person or online, ensure that you have your income information at hand and any other documents showing that you can pay back the loan. The more evidence you have, the more likely your loan request will be granted.

When Will I Receive My Funds in Alexander City, Alabama?

When you see your money really depends on your lender as some lenders offer same-day paycheck advance loans, which means you will get your payday advance loan on the same day you submit your application, as long as you get an approval.

Much of the time, though, lenders will give the borrower their lump sum on the next business day. Businesses often close for holidays and weekends. Therefore, if you apply on a Friday, you might not see your cash until Monday.

If you're looking for a same-day payday advance loan in Alexander City, AL, you will need to be sure that you're applying by 10:30 am. All same-day payments going out that day will be approved by that time. However, you should submit an application earlier than that if possible, as it will increase the likelihood that you get your deposit on the same day that you apply.

One additional consideration that you should know is despite if the lender approves your application and posts the credit to your checking account, sometimes the bank won't release that deposit right away. It's paramount that you let your bank know that you plan to get a payday advance loan, so they could possibly make an exception in releasing the cash earlier.

On the whole, it's best to prepare in advance to receive cash on the following business day. That way, you're not out of luck if you cannot get it on the same day.

Consider Working With PaydayLoanRadar

If you have less than great credit or no credit and are searching to get a cash advance loan, consider applying through us, as you frequently have a better chance of approval.

We partner with hundreds of different lenders who provide their services online. Often you will receive your cash on the following business day so make sure that you plan appropriately.

However, you can always find the closest cash advance loan storefront to you and apply in person to strengthen the chances of getting 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. Sometimes, lenders may require proof of address, so bring a utility bill to the store as well.

To find the nearest payday loan storefront, please navigate to the list below and search for your city.

Payday Loan Direct Lender Companies in Alexander City, AL

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