Payday Loans in Bessemer, Alabama

Things happen, and we often wind up in a situation where we must cover some unforeseen bills. Consider applying for a cash advance loan in Bessemer, Alabama, to see if you qualify.

The application process is fast and straightforward. To be qualified, you have to satisfy a few simple requirements.

What is a Payday Loan? What Can It Be Used For?

A cash advance loan is where the borrower will be extended a petite sum of cash on a short-term agreement. This is deemed to be an unsecured loan as no collateral is required.

When unforeseen financial needs present themselves, for example missed rent or utility expenditures, vehicle repairs, health or vet costs, and so on, people frequently rely upon payday loans.

Payday Advance Loan Stipulations In Bessemer, Alabama

In Bessemer, Alabama, payday advance loan borrowers are required to meet several stipulations to be eligible for a loan.

The borrower is required to:

• Prove that they live in Bessemer, Alabama
• Must be at least 18
• Have an income that they can prove that's at least $1,000 per month
• Give active contact information such as phone number and email address
• Provide their SSN

If a borrower does not satisfy the above rules, they will immediately be denied a paycheck advance loan. Ensure that you can provide the documentation required when requesting a loan.

Laws and Rules Concerning Paycheck Advance Loans in Bessemer, AL

Alabama has deemed cash advance lending legal. Still, they have put forth the below rules and regulations for the payday advance lending industry:

• A single money lender cannot offer a loan for more than $600. Borrowers are not allowed to have greater than two unpaid loans from different lenders. There is no smallest loan amount.
• The minimum loan term is not determined, the maximum loan term length is 31 days. In the State of Alabama, borrowers may not rollover their loans.
• The fees and charges change for each money lender. The service fees charged by lenders on a loan are not considered interest. The service fees apply to each $100 borrowed and can vary between 11-15%.
• An interest rate must be mutually decided upon. APR can be as much as 369%.

Will Payday Lenders in Bessemer, AL, Run Credit Checks? What If I Have Bad/No Credit History At All?

Yes, the lenders we work with will complete a credit check on you, still, even if you have no credit or less than optimal credit, you might still be approved for a loan provided you can show that you can repay the loan. Lenders are generally unbothered by your credit if you provide proof of income and a strategy to repay the loan.

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

A hard credit inquiry, alternatively, requires your permission. These credit inquiries are used for various purposes, such as mortgages, credit card applications, and more.

You can still be approved for a payday loan with imperfect credit in Bessemer, Alabama, as long as you have proof of repayment.

Therefore, when you apply, whether it is in person or online, make sure that you have your income information available and any other documents showing that you can pay back the loan. The more proof you provide, the better chance your loan request will be granted.

When Will I See My Funds in Bessemer, Alabama?

When you receive your money truly depends on the lender as some lenders offer same-day paycheck advance loans, which means you will get your cash advance loan on the same day you request a loan, as long as you're approved.

Much of the time, though, lenders will give the borrower their lump sum on the next business day. Businesses typically close for holidays and weekends. Because of this, if you submit your application on a Friday, you may not get your cash until Monday.

If you're looking for a same-day payday advance loan in Bessemer, Alabama, you will need to make sure 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 submit an application earlier than that if possible, as it will boost the likelihood that you get your deposit on the same day that you apply.

One other consideration that you should be aware of is despite if the lender approves your application and posts the loan to your bank account, occasionally the bank won't release that deposit right away. It's important to let your bank know that you plan to get a paycheck advance loan, so they might make an exception in releasing the funds earlier.

On the whole, it's wise to prepare in advance to receive your funds on the following business day. That way, you're not left in the lurch if you cannot receive it on the same day.

Consider Working With PaydayLoanRadar

If you have bad credit or no credit and are looking to get a paycheck advance loan, think about applying through us, as you most likely have a better chance of approval.

We work with over one hundred different lenders who offer their services online. Frequently you will see your cash on the following business day so ensure that you plan appropriately.

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

To find the nearest cash advance loan store, please refer to the list below and locate your city.

Payday Loan Direct Lender Companies in Bessemer, AL

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