Payday Loans in Enterprise, Alabama

Life happens, and we usually find ourselves in a spot where we must pay for some unexpected costs. Think about applying for a paycheck advance loan in Enterprise, Alabama, to see if you meet the requirements.

The loan application process is quick and painless. To qualify, borrowers have to meet a couple of basic conditions.

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

A paycheck advance loan is where the borrower will receive a petite sum of funds on a short-term contract. This is thought of as an unsecured loan because no collateral is needed.

When surprise costs arise, such as late rent or utility costs, auto fees, health or vet expenditures, and so on, people often seek out cash advance loans.

Paycheck Advance Loan Criteria In Enterprise, AL

In Enterprise, Alabama, paycheck advance loan borrowers need to meet a few criteria to be eligible for a loan.

The borrower has to:

• Provide proof that they reside in Enterprise, AL
• Must be 18 or older
• Receive a steady stream of income that they can provide proof of being at least $1,000/month
• Give up-to-date contact information including cell phone number and email address
• Provide their social security number

If a borrower does not meet the above requirements, they will immediately be denied a cash advance loan. Make sure you possess the documentation needed when submitting your application.

Laws and Regulations Regarding Cash Advance Loans in Enterprise, Alabama

The State of Alabama has ruled payday lending legal. Although, they have enacted the following rules and regulations for the cash advance lending industry:

• An individual money lender can't extend a loan greater than $600. Borrowers cannot possess more than two outstanding loans from different lenders. There is no smallest loan amount.
• The minimum loan term is not set, the longest loan term length is 31 days. In Alabama, borrowers are unable to rollover their loans.
• The fees and charges are different for each loan lender. The service costs charged by the lender on each loan or transaction are not considered interest. The service fees apply to each $100 loaned and can range between 11-15%.
• An interest rate is required to be mutually settled upon. APR can range up to 369%.

Will Cash Advance Lenders in Enterprise, AL, Perform 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, but, even if you possess no credit or dismal credit, you may still be approved for a loan as long as you can show that you are able to pay back the loan. Lenders are typically unconcerned about 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 feel of your credit history and basic information.

A hard credit pull, dissimilarly, needs your permission. These credit pulls are performed for a variety of purposes, such as mortgages, credit cards, and more.

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

So, when you apply for a loan, whether it is in person or online, double check that you have your income information ready and any other documents proving that you can repay the loan. The more evidence you have, the more likely your loan application will be approved.

When Will I Get My Money in Enterprise, AL?

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

Much of the time, however, lenders will give 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 might not receive your money until Monday.

If you're needing a same-day paycheck advance loan in Enterprise, Alabama, you will need to ensure you're applying by 10:30 am. All same-day funds going out that day will be approved by that time. However, you should apply earlier than that if possible, as it will increase the likelihood that you see your money on the same day that you apply.

One additional factor that you should know is even if the money lender approves your application and posts the deposit to your checking account, sometimes the bank won't release that credit at that time. It's paramount 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 funds earlier.

On the whole, it's best to prepare in advance to receive your deposit on the following business day. That way, you're not surprised if you cannot get it on the same day.

Consider Working With Us

If you possess poor credit or no credit and are needing to secure a payday advance loan, think about applying through us, as you probably have a higher chance of approval.

We work with more than one hundred different lenders who provide their services online. Much of the time you will get your loan on the next business day so make sure that you plan correctly.

However, you can always locate the nearest payday advance loan store to you and apply in person to increase the chances of getting your cash on the same business day. When submitting an application in person, make sure that you have your government ID or driver's license; a passport will work as well. Occasionally, lenders may require proof of address, so bring a utility bill to the store as well.

To find the nearest paycheck advance loan store, please use the list below and search for your city.

Payday Loan Direct Lender Companies in Enterprise, AL

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