Payday Loans in Brewton, Alabama
Things happen, and we usually wind up in a spot where we have to pay for some unforeseen costs. Consider applying for a payday loan in Brewton, AL, to see if you qualify.
The application process is fast and simple. To be eligible, loan borrowers have to satisfy a couple of general requirements.
What is a Payday Advance Loan? What Can It Be Put Towards?
A payday loan is where the borrower will get a petite amount of funds on a short-term agreement. This is thought of as an unsecured personal loan as no collateral is needed.
When unexpected bills present themselves, for example past due rent or utility fees, auto fees, medical or vet bills, and so forth, people commonly seek out cash advance loans.
Payday Advance Loan Requirements In Brewton, AL
In Brewton, Alabama, payday advance loan borrowers need to meet several stipulations to qualify for a loan.
The borrower has to:
- Prove that they live in Brewton, Alabama
- Must be 18 years old
- Have a steady income that they can provide proof of being at least $1,000 per month
- Provide up-to-date contact details including cell phone number and email address
- Provide their SSN
If a borrower does not abide by the above criteria, they will immediately be denied a payday loan. Ensure that you can provide the documentation needed when requesting a loan.
Laws and Regulations Concerning Cash Advance Loans in Brewton, Alabama
Alabama has deemed cash advance lending legal. Still, they have created the below rules and regulations for the payday lending market:
- A single money lender can't offer a loan for more than $600. Borrowers cannot take out more than two unpaid loans from different lenders. There is no minimum loan amount.
- The minimum loan term is not set, the longest loan term length is 31 days. In Alabama, borrowers are not allowed to rollover their loans.
- The fees and charges vary for each lender. The service fees charged by the lender on a payday 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 settled upon. APR can be as much as 369%.
Will Paycheck Advance Lenders in Brewton, Alabama, Complete Credit Checks? What If I Have Bad/No Credit History At All?
Yes, the lenders we have a relationship with will perform a credit check on you, still, even if you have no credit or less than stellar credit, you might still be approved for a loan as long as you can show that you can pay back the loan. Lenders are usually unbothered by your credit if you offer proof of income and a strategy to pay back the loan.
Lenders will use a soft credit check, which will have no impact on your credit score. This is simply to get an idea of your credit history and general information.
A hard credit inquiry, alternatively, needs your explicit consent. These credit checks are used for various purposes, such as mortgages, credit card applications, and more.
You may still qualify for a payday advance loan with poor credit in Brewton, Alabama, as long as 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 ready and any other documents proving that you can repay the loan. The more evidence you possess, the more likely you are to be approved.
When Will I Get My Funds in Brewton, AL?
When you get your funds truly depends on your lender as some lenders offer same-day paycheck advance loans, which means you will get your paycheck advance loan on the same day you request a loan, as long as you're approved.
Most of the time, however, lenders will give the borrower their lump sum on the following business day. Businesses often close for holidays and weekends. Therefore, if you apply on a Friday, you might not see your deposit until Monday.
If you're needing a same-day paycheck advance loan in Brewton, Alabama, you will need to make sure you're applying by 10:30 am. All same-day deposits going out that day will be approved by that deadline. However, you should request a loan earlier than that if possible, as it will increase the likelihood that you see your funds on the same day that you submit your application.
One other consideration that you should understand is despite if the lender grants your loan request and posts the loan to your bank, occasionally the bank won't release that loan at that time. It's vital that you let your bank know that you plan to get a cash advance loan, so they could possibly make an exception in releasing the cash earlier.
Overall, it's best to prepare in advance to get your funds on the following business day. That way, you're not left in the lurch if you cannot get it on the same day.
Think About Borrowing From Us
If you have less than great credit or no credit and are needing to get a paycheck advance loan, consider applying with us, as you probably have a higher chance of approval.
We partner with over one hundred different lenders who provide their services online. Often you will see your money on the following business day so make sure that you plan accordingly.
However, you can always locate the closest payday loan storefront to you and apply in person to strengthen the chances of getting your funds on the same business day. When requesting a loan in person, ensure 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 as well.
To find the nearest payday loan store, please use the list below and search for your city.
Payday Loan Direct Lender Companies in Brewton, AL
Below you will find a list of payday loan companies offering their services in Brewton, Alabama. If you can't find a lender near your location in Brewton, consider applying in a nearby city in Alabama. Alternatively, you can apply online on our website and get a decision almost instantly.
If you can't find a lender near your location in Brewton, consider checking out payday loan lenders in nearby cities. Alternatively, apply online on our website and get an instant decision. If approved, you will get your cash the same or next business day.