Payday Loans in Birmingham, Alabama

Things happen, and we often wind up in a place where we have to cover some unforeseen expenses. Think about applying for a cash advance loan in Birmingham, Alabama, to see if you are eligible.

The loan request process is fast and simple. To be qualified, loan borrowers must satisfy a few general criteria.

What is a Cash Advance Loan? What Can It Be Put Towards?

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

When unexpected expenses arise, such as missed rent or utility costs, vehicle fees, medical or vet payments, and so forth, people frequently rely upon paycheck advance loans.

Cash Advance Loan Requirements In Birmingham, Alabama

In Birmingham, AL, payday loan borrowers need to meet a few criteria to be eligible for a loan.

The borrower has to:

• Prove that they reside in Birmingham, Alabama
• Must be 18 or older
• Receive an income that they can provide proof of being at least $1,000/month
• Provide current contact details such as phone number and email address
• Provide their SSN

If a borrower does not meet the above requirements, they will automatically be denied a cash advance loan. Make sure you possess the documents needed when applying for a loan.

Laws and Rules Regarding Cash Advance Loans in Birmingham, Alabama

The State of Alabama has deemed paycheck advance lending legal. Although, they have set the below rules and laws for the cash advance lending industry:

• An individual money lender can't extend a loan greater than $600. Borrowers cannot have more than two unpaid loans from different lenders. There is no smallest loan amount.
• There is no minimum loan term, the maximum loan term length is 31 days. In Alabama, borrowers cannot rollover their loans.
• The fees and charges change for each lender. The service costs charged by the lender on a cash advance loan do not fall under interest. The service fees apply to each $100 loaned and can vary from 11% up to 15%.
• An interest rate is required to be mutually agreed upon. APR can range up to 369%.

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

Yes, the lenders we have a relationship with will do a credit check on you, still, even if you possess no credit or bad credit, you might still be eligible for a loan as long as you can prove that you can repay the loan. Lenders are usually unbothered by your credit if you have proof of income and a strategy to repay the loan.

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

A hard credit inquiry, alternatively, must have your permission. These credit pulls are used for a variety of purposes, including mortgages, credit card applications, and more.

You can still be approved for a paycheck advance loan with bad credit in Birmingham, AL, as long as you have proof of repayment.

Therefore, when you apply for a loan, whether it is in person or online, double check that you have your income information at hand and any other documents verifying that you can repay the loan. The more proof you have, the better chance your loan request will be granted.

When Will I See My Funds in Birmingham, Alabama?

When you see your cash truly relies on the lender as some lenders offer same-day cash advance loans, which means you will see your payday 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 next business day. Businesses usually close for holidays and weekends. Therefore, if you apply on a Friday, you may not see your cash until Monday.

If you're looking for a same-day payday advance loan in Birmingham, Alabama, you will need to make sure you're applying by 10:30 am. All same-day funds going out that day will be approved by that deadline. However, you should submit an application earlier than that if able, as it will boost the likelihood that you get your loan on the day that you submit your application.

One more factor that you should understand is even if the lender grants your loan request and posts the funds to your checking account, occasionally the bank won't release that credit at that time. It's vital that you let your bank know that you plan to receive a payday loan, so they could possibly make an exception in releasing the loan earlier.

Overall, it's best to prepare ahead of time to receive your loan on the following business day. That way, you're not surprised if you cannot receive it on the same day.

Consider Working With Us

If you have underwhelming credit or no credit and are wanting to secure a paycheck advance loan, consider applying through us, as you probably have a better chance of approval.

We work with more than one hundred different lenders who offer their services online. Much of the time you will get your funds on the following business day so make sure that you plan appropriately.

Although, you can always locate the closest paycheck advance loan store to you and apply in person to strengthen the chances of receiving your funds on the same day. When requesting a loan in person, ensure that you have your government ID or driver's license; a passport is sufficient. Occasionally, lenders may request proof of address, so take along a utility bill to the store as well.

To locate the nearest cash advance loan store, please navigate to the list below and search for your city.

Payday Loan Direct Lender Companies in Birmingham, AL

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