Payday Loans in Monroeville, Alabama

Incidents happen, and we usually wind up in a place where we have to pay for some surprise costs. Consider applying for a payday loan in Monroeville, AL, to see if you meet the requirements.

The loan request process is fast and effortless. To qualify, loan borrowers have to meet a couple of general requirements.

What is a Payday Advance Loan? What Can It Cover?

A paycheck advance loan is where the borrower will be extended a petite sum of cash on a short-term contract. This is considered an unsecured loan due to the fact that no collateral is expected.

When unforeseen bills present themselves, like missed rent or utility bills, car fixes, health or vet expenditures, and so forth, people frequently turn to cash advance loans.

Payday Loan Criteria In Monroeville, AL

In Monroeville, Alabama, payday loan borrowers are required to satisfy a few stipulations to qualify for a loan.

The borrower has to:

• Provide proof that they are a resident of Monroeville, Alabama
• Must be 18 years old
• Have an income that they can prove that's at least $1,000/month
• Provide up-to-date contact information including phone number and email address
• Give their SSN

If a borrower does not meet the above rules, they will immediately be denied a cash advance loan. Ensure that you can provide the documentation required when submitting your application.

Laws and Regulations Regarding Cash Advance Loans in Monroeville, Alabama

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

• An individual money lender can't extend a loan greater than $600. Borrowers are not allowed to have more than two outstanding loans from different lenders. There is no smallest loan amount.
• The minimum loan term is not set, the maximum loan term length is 31 days. In Alabama, borrowers cannot rollover their loans.
• The fees and charges vary for each money lender. The service costs charged by the lender on a loan do not fall under interest. The service fees apply to every $100 loaned 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 Monroeville, Alabama, 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, still, even if you possess no credit or dismal credit, you might still be eligible for a loan given that you can prove that you can pay back the loan. Lenders are generally unconcerned about your credit history if you provide 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 an idea of your credit history and general information.

A hard credit pull, on the other hand, must have your explicit consent. These credit inquiries are done for various purposes, such as mortgages, credit cards, and more.

You may still be approved for a paycheck advance loan with imperfect credit in Monroeville, AL, provided that you can prove you will repay the loan.

So, when you apply, whether it is in person or online, ensure 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 your loan request will be granted.

When Will I See My Funds in Monroeville, AL?

When you receive your money really depends on your lender as some lenders offer same-day paycheck advance loans, which means you will receive your payday loan on the same day you apply, as long as you're approved.

Most of the time, however, lenders will send the borrower their lump sum on the following business day. Businesses usually close for holidays and weekends. Therefore, if you submit your application on a Friday, you may not get your cash until Monday.

If you're needing a same-day cash advance loan in Monroeville, AL, you will need to make sure you're applying by 10:30 am. All same-day loans going out that day will be approved by that deadline. However, you should apply earlier than that if able, as it will increase the likelihood that you get your loan on the day that you submit your application.

One more consideration that you should know is despite if the lender approves your application and posts the loan 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 receive a payday advance loan, so they might make an exception in releasing the loan earlier.

On the whole, it's best to prepare in advance to receive money on the following business day. That way, you're not left in the lurch if you cannot receive it on the same day.

Think About Working With Us

If you possess bad credit or no credit and are searching to get a payday loan, think about applying with us, as you usually have a better chance of approval.

We work with over one hundred different lenders who offer their services online. Often you will see your cash on the following business day so ensure that you plan accordingly.

Although, you can always locate the closest payday advance loan storefront to you and apply in person to strengthen the chances of seeing your loan on the same business day. When applying in person, make sure 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 too.

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

Payday Loan Direct Lender Companies in Monroeville, AL

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