Payday Loans in Auburn, Alabama

Events happen, and we often end up in a spot where we have to pay for some unforeseen bills. Consider submitting an application for a payday loan in Auburn, AL, to see if you qualify.

The application process is fast and straightforward. To be eligible, loan borrowers have to satisfy a few simple requirements.

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

A paycheck advance loan is where the borrower will be extended a petite sum of funds on a short-term agreement. This is considered an unsecured loan because no collateral is required.

When unforeseen expenses come up, like missed rent or utility costs, vehicle costs, medical or vet bills, and so forth, individuals frequently turn to cash advance loans.

Paycheck Advance Loan Stipulations In Auburn, AL

In Auburn, AL, payday loan borrowers must meet a few requirements to be eligible for a loan.

The borrower is required to:

• Show proof that they reside in Auburn, Alabama
• Must be 18 years old
• Receive a steady stream of income that they can provide proof of being at least $1,000 per month
• Give up-to-date contact details such as cell phone number and email address
• Provide their social security number

If a borrower does not abide by the above rules, they will automatically be denied a paycheck advance loan. Make sure you can provide the documents needed when requesting a loan.

Laws and Regulations Concerning Payday Advance Loans in Auburn, AL

The State of Alabama has ruled paycheck advance lending legal. Still, they have put forth the below rules and regulations for the payday lending market:

• A single lender cannot offer a loan greater than $600. Borrowers may not possess greater 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 unable to rollover their loans.
• The fees and charges vary for each money lender. The service fees enacted by the lender on each loan or transaction do not fall under interest. The service fees apply to each $100 borrowed and can range between 11-15%.
• An interest rate is required to be mutually decided upon. APR can be as much as 369%.

Will Cash Advance Lenders in Auburn, Alabama, Run Credit Checks? What If I Have Poor/No Credit History At All?

Yes, the lenders we have a relationship with will perform a credit check on you, still, even if you possess no credit or bad credit, you may still be approved for a loan provided you can show that you are able to pay back the loan. Lenders are generally unbothered by your credit history if you provide proof of income and a strategy to pay back the loan.

Lenders will conduct a soft credit inquiry, which will not impact your credit score. This is solely to get a look at your credit history and general information.

A hard credit inquiry, dissimilarly, requires your permission. These credit checks are done for a plethora of purposes, including mortgages, credit cards, and more.

You might still be approved for a payday loan with bad credit in Auburn, Alabama, provided that you can prove you will repay the loan.

So, when you request a loan, whether it is in person or online, make sure that you have your income information available and any other documents verifying that you can repay the loan. The more proof you have, the better chance you are to be approved.

When Will I See My Loan in Auburn, Alabama?

When you see your funds really depends on your lender as some lenders offer same-day payday advance loans, which means you will see your cash advance loan on the same day you apply, as long as you receive an approval.

Most of the time, however, lenders will send the borrower their lump sum on the following business day. Businesses usually close for holidays and weekends. So, if you apply on a Friday, you may not get your money until Monday.

If you're looking for a same-day payday advance loan in Auburn, 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 cut-off. However, you should apply earlier than that if possible, as it will increase the likelihood that you see your deposit on the same day that you submit your application.

One additional consideration that you should be aware of is despite if the lender grants your loan request and posts the funds to your bank, occasionally the bank won't release that credit at that time. It's vital 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 money on the next business day. That way, you're not surprised if you cannot receive it on the same day.

Consider Borrowing From PaydayLoanRadar

If you have bad credit or no credit and are wanting to secure a cash advance loan, think about applying through us, as you usually have a higher chance of approval.

We partner with hundreds of different lenders who offer their services online. Most of the time you will receive your funds on the following business day so ensure that you plan appropriately.

Although, you can always locate the closest paycheck advance loan storefront to you and apply in person to boost the chances of getting your cash on the same business day. When applying in person, make sure that you have your government ID or driver's license; a passport is sufficient. Sometimes, lenders may request proof of address, so take along a utility bill to the store too.

To locate the nearest payday advance loan store, please use the list below and find your city.

Payday Loan Direct Lender Companies in Auburn, AL

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