Payday Loans in Clanton, Alabama

Events happen, and we often find ourselves in a place where we must pay for some unexpected expenses. Think about submitting an application for a payday advance loan in Clanton, Alabama, to see if you are eligible.

The loan process is quick and effortless. To qualify, borrowers have to satisfy a few straightforward criteria.

What is a Payday Advance Loan? What Can It Pay For?

A cash advance loan is where the borrower will receive a petite amount of cash on a short-term basis. This is considered an unsecured personal loan as no collateral is needed.

When surprise costs arise, for example past due rent or utility costs, car fees, health or vet costs, and so forth, individuals often rely upon payday loans.

Payday Advance Loan Requirements In Clanton, Alabama

In Clanton, AL, paycheck advance loan borrowers need to satisfy several stipulations to be eligible for a loan.

The borrower must:

• Provide proof that they are a resident of Clanton, AL
• Must be 18 years old
• Have a steady stream of income that they can provide proof of being at least $1,000 per month
• Provide active contact information like cell phone number and email address
• Give their social security number

If a borrower does not meet the above rules, they will automatically be denied a payday loan. Ensure that you can provide the documents needed when applying.

Laws and Rules Regarding Cash Advance Loans in Clanton, AL

Alabama has ruled cash advance lending legal. Still, they have set the following rules and regulations for the paycheck advance lending industry:

• An individual money lender can't extend a loan in excess of $600. Borrowers may not take out greater than two outstanding loans from different lenders. There is no minimum loan amount.
• There is no minimum loan term, the maximum loan term length is 31 days. In the State of Alabama, borrowers may not rollover their loans.
• The fees and charges are different for each loan lender. The service costs enacted by the lender on each loan or transaction are not considered interest. The service fees apply to every $100 loaned and can range from 11% up to 15%.
• An interest rate is required to be mutually settled upon. APR can range up to 369%.

Will Payday Advance Lenders in Clanton, AL, Complete Credit Checks? What If I Have Poor/No Credit History At All?

Yes, the lenders we have a relationship with will run a credit check on you, still, even if you have no credit or less than stellar credit, you might still be eligible for a loan as long as you can show that you can repay the loan. Lenders are usually unbothered by your credit history if you offer proof of income and a plan to repay the loan.

Lenders will conduct a soft credit inquiry, which will not impact your credit score. This is only to get a feel of your credit history and basic information.

A hard credit inquiry, dissimilarly, needs your permission. These credit pulls are utilized for a plethora of purposes, such as mortgages, credit cards, and more.

You can still be approved for a cash advance loan with bad credit in Clanton, Alabama, if you have proof of repayment.

So, when you apply, albeit in person or online, ensure that you have your income information available and any other documents verifying that you can pay back the loan. The more proof you provide, the more likely your loan request will be granted.

When Will I Receive My Deposit in Clanton, AL?

When you get your cash actually relies on the lender as some lenders offer same-day payday loans, which means you will receive your paycheck advance loan on the same day you apply, as long as you get an approval.

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

If you're wanting a same-day cash advance loan in Clanton, 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 increase the likelihood that you receive your funds on the day that you submit your application.

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

Overall, it's best to prepare ahead of time to get your loan on the next business day. That way, you're not out of luck if you cannot get it on the same day.

Think About Working With Us

If you have bad credit or no credit and are searching to secure a payday loan, think about applying with us, as you probably have a higher chance of approval.

We work with more than one hundred different lenders who provide their services online. Most of the time you will receive your cash on the following business day so make sure that you plan correctly.

Although, you can always locate the closest paycheck advance loan storefront to you and apply in person to strengthen the chances of seeing your loan on the same day. When applying in person, ensure that you have your government ID or driver's license; a passport will work as well. Sometimes, lenders may ask for proof of address, so take along 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 Clanton, AL

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