Payday Loans in Huntsville, Alabama

Things happen, and we often find ourselves in a spot where we have to pay for some unexpected bills. Think about applying for a payday advance loan in Huntsville, Alabama, to see if you qualify.

The loan process is swift and simple. To qualify, borrowers have to satisfy a couple of simple conditions.

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

A payday loan is where the borrower will receive a small amount of cash on a short-term basis. This is deemed to be an unsecured loan as no collateral is expected.

When surprise bills present themselves, like late rent or utility expenditures, auto costs, medical or vet expenditures, and so forth, individuals frequently turn to cash advance loans.

Paycheck Advance Loan Criteria In Huntsville, AL

In Huntsville, AL, payday advance loan borrowers must satisfy several stipulations to be eligible for a loan.

The borrower must:

• Provide proof that they are a resident of Huntsville, Alabama
• Must be 18 years old
• Receive a steady income that they can provide proof of being at least $1,000/month
• Provide active contact details including phone number and email address
• Provide their social security number

If a borrower does not abide by the above rules, they will automatically be denied a paycheck advance loan. Ensure that you can provide the documentation required when applying for a loan.

Laws and Rules Concerning Payday Advance Loans in Huntsville, AL

Alabama has ruled payday advance lending legal. However, they have put forth the below rules and laws for the payday lending industry:

• A single lender can't offer a loan for more than $600. Borrowers are not allowed to take out more than two outstanding loans from different lenders. There is no minimum loan amount.
• The minimum loan term is not set, the maximum loan term length is 31 days. In the State of Alabama, borrowers are unable to rollover their loans.
• The fees and charges are different for each loan lender. The service fees enacted by lenders on a payday loan are not considered interest. The service fees apply to every $100 borrowed and can range between 11-15%.
• An interest rate is required to be mutually decided upon. APR can be as high as 369%.

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

Yes, the lenders we work with will do a credit check on you, still, even if you have no credit or less than optimal credit, you may still be eligible for a loan provided you can prove that you can pay back the loan. Lenders are typically unbothered by your credit if you have proof of income and a strategy to pay back the loan.

Lenders will use a soft credit inquiry, 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 check, on the other hand, requires your explicit consent. These credit checks are utilized for various purposes, such as mortgages, credit cards, and more.

You may still qualify for a paycheck advance loan with imperfect credit in Huntsville, AL, provided that 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 showing that you can repay the loan. The more evidence you have, the more likely you are to be approved.

When Will I Get My Cash in Huntsville, Alabama?

When you get your loan 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're approved.

Much of the time, though, lenders will give the borrower their lump sum on the following business day. Businesses generally close for holidays and weekends. Because of this, if you apply on a Friday, you might not get your money until Monday.

If you're looking for a same-day payday advance loan in Huntsville, AL, you will need to ensure you're applying by 10:30 am. All same-day loans going out that day will be approved by that time. However, you should apply earlier than that if possible, as it will boost the likelihood that you see your cash on the same day that you submit your application.

One additional factor that you should know is even if the money lender grants your loan request and posts the funds to your bank, sometimes the bank won't release that deposit right away. It's paramount that you let your bank know that you plan to get a payday loan, so they might make an exception in releasing the cash earlier.

Overall, it's wise to prepare in advance to get cash on the next business day. That way, you're not out of luck if you cannot receive it on the same day.

Consider Working With PaydayLoanRadar

If you possess bad credit or no credit and are wanting to secure a cash advance loan, consider 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. Most of the time you will receive your loan on the next business day so ensure that you plan correctly.

Although, you can always locate the nearest payday advance loan storefront to you and apply in person to increase the chances of seeing your cash 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. Infrequently, lenders may ask for proof of address, so bring a utility bill to the store too.

To locate the nearest payday loan storefront, please use the list below and find your city.

Payday Loan Direct Lender Companies in Huntsville, AL

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