Payday Loans in Prichard, Alabama

Incidents happen, and we often find ourselves in a place where we must cover some unexpected expenses. Think about applying for a cash advance loan in Prichard, AL, to see if you are eligible.

The loan application process is fast and simple. To be eligible, borrowers have to satisfy a few simple criteria.

What is a Cash Advance Loan? What Can It Be Used For?

A payday loan is where the borrower will be extended a small amount of funds on a short-term contract. This is considered an unsecured loan as no collateral is needed.

When unforeseen costs present themselves, such as missed rent or utility expenditures, auto fixes, health or vet expenditures, and so on, people commonly rely upon cash advance loans.

Payday Loan Requirements In Prichard, AL

In Prichard, Alabama, paycheck advance loan borrowers must meet several stipulations to qualify for a loan.

The borrower must:

• Provide proof that they reside in Prichard, AL
• Must be at least 18
• Receive a steady income that they can provide proof of being at least $1,000/month
• Give current contact details such as phone number and email address
• Provide their social security number

If a borrower does not satisfy the above criteria, they will automatically be denied a cash advance loan. Make sure you have the documentation required when requesting a loan.

Laws and Regulations Concerning Payday Advance Loans in Prichard, Alabama

The State of Alabama has ruled cash advance lending legal. Still, they have created the following rules and laws for the cash advance lending industry:

• A single money lender can't extend a loan greater than $600. Borrowers are not allowed to possess more than two active loans from different lenders. There is no smallest loan amount.
• The minimum loan term is not determined, 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 lender. The service fees charged by lenders on a payday loan are not considered interest. The service fees apply to every $100 borrowed and can vary from 11% up to 15%.
• An interest rate is required to be mutually settled upon. APR can be as much as 369%.

Will Payday Advance Lenders in Prichard, Alabama, Run 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 might still be eligible for a loan provided you can prove that you can repay the loan. Lenders are commonly unbothered by your credit history if you have proof of income and a strategy to repay the loan.

Lenders will conduct a soft credit pull, which will have no impact on your credit score. This is only to get a look at your credit history and basic information.

A hard credit inquiry, on the other hand, needs your explicit consent. These credit inquiries are utilized for various purposes, such as mortgages, credit card applications, and more.

You might still qualify for a paycheck advance loan with poor credit in Prichard, AL, if you have proof of repayment.

So, when you apply for a loan, whether it is in person or online, ensure that you have your income information at hand and any other documents verifying that you can pay back the loan. The more proof you have, the better chance your loan application will be approved.

When Will I See My Money in Prichard, AL?

When you see your loan really relies on the lender as some lenders provide same-day cash advance loans, which means you will see your cash advance loan on the same day you request a loan, as long as you get an approval.

Most of the time, however, lenders will give the borrower their lump sum on the next business day. Businesses typically close for holidays and weekends. Therefore, if you submit your application on a Friday, you might not receive your funds until Monday.

If you're wanting a same-day paycheck advance loan in Prichard, AL, you will need to ensure you're applying by 10:30 am. Any and all same-day payments 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 receive your money on the day that you submit your application.

One other consideration that you should know is even if the money lender approves your application and posts the loan to your bank account, sometimes the bank won't release that funds at that time. It's vital that you let your bank know that you plan to get a paycheck advance loan, so they might make an exception in releasing the loan earlier.

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

Think About Working With Us

If you possess poor credit or no credit and are wanting to secure a cash advance loan, consider applying with us, as you usually have a better chance of approval.

We partner with more than one hundred different lenders who provide their services online. Most of the time you will see your deposit on the next business day so make sure that you plan appropriately.

Although, you can always find the closest cash advance loan store to you and apply in person to increase the chances of receiving your money on the same business day. When requesting a loan in person, make sure that you have your government ID or driver's license; a passport will work as well. Occasionally, lenders may request proof of address, so take along a utility bill to the store as well.

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

Payday Loan Direct Lender Companies in Prichard, AL

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