Payday Loans in Saraland, Alabama

Events happen, and we usually find ourselves in a place where we have to cover some surprise expenses. Think about applying for a payday loan in Saraland, Alabama, to see if you qualify.

The application process is quick and straightforward. To qualify, you have to satisfy a few straightforward criteria.

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

A payday loan is where the borrower will get a petite sum of money on a short-term agreement. This is considered an unsecured loan because no collateral is needed.

When unforeseen financial needs arise, such as late rent or utility payments, vehicle fixes, medical or vet expenditures, and so on, individuals commonly turn to cash advance loans.

Payday Advance Loan Requirements In Saraland, AL

In Saraland, AL, cash advance loan borrowers need to satisfy a few stipulations to be eligible for a loan.

The borrower is required to:

• Prove that they are a resident of Saraland, Alabama
• Must be 18 or older
• Receive a steady income that they can prove that's at least $1,000 per month
• Provide current contact details like cell phone number and email address
• Give their SSN

If a borrower does not abide by the above criteria, they will immediately be denied a paycheck advance loan. Make sure you have the documents needed when applying.

Laws and Rules Regarding Payday Loans in Saraland, Alabama

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

• An individual lender cannot offer a loan for more than $600. Borrowers cannot possess more than two outstanding loans from different lenders. There is no minimum loan amount.
• The minimum loan term is not determined, the maximum loan term length is 31 days. In the State of Alabama, borrowers cannot rollover their loans.
• The fees and charges vary for each lender. The service fees charged by the lender on each loan or transaction are not considered interest. The service fees apply to each $100 loaned and can vary between 11-15%.
• An interest rate must be mutually agreed upon. APR can be as much as 369%.

Will Paycheck Advance Lenders in Saraland, Alabama, Complete Credit Checks? What If I Have Bad/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 optimal credit, you might still be approved for a loan as long as you can show that you are able to pay back the loan. Lenders are generally unconcerned about your credit if you have proof of income and a strategy to pay back the loan.

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

A hard credit pull, on the other hand, needs your explicit consent. These credit pulls are performed for a variety of purposes, such as mortgages, credit cards, and more.

You can still be approved for a cash advance loan with less than great credit in Saraland, Alabama, provided that you can prove you will repay the loan.

Therefore, when you request a loan, albeit in person or online, make sure that you have your income information easily accessible and any other documents verifying that you can repay the loan. The more proof you show, the more likely your loan application will be approved.

When Will I See My Loan in Saraland, AL?

When you receive your loan actually relies on the lender as some lenders offer same-day payday loans, which means you will see your cash advance loan on the same day you submit your application, as long as you're approved.

Most of the time, however, 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 submit your application on a Friday, you might not get your funds until Monday.

If you're wanting a same-day cash advance loan in Saraland, Alabama, 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 cut-off. However, you should submit an application earlier than that if able, as it will increase the likelihood that you receive your loan on the same day that you apply.

One other consideration that you should be aware of is even if the money lender approves your application and posts the deposit to your checking account, sometimes the bank won't release that deposit right away. It's vital that you let your bank know that you plan to receive a paycheck advance loan, so they might make an exception in releasing the loan earlier.

On the whole, it's best to prepare ahead of time to receive cash on the following business day. That way, you're not surprised if you cannot get it on the same day.

Think About Borrowing From PaydayLoanRadar

If you have poor credit or no credit and are searching to secure a cash advance loan, consider applying through us, as you most likely have a higher chance of approval.

We partner with over one hundred different lenders who provide their services online. Much of the time you will see your funds on the next business day so ensure that you plan correctly.

Although, you can always locate the nearest payday loan store to you and apply in person to boost the chances of receiving your funds on the same day. When submitting an application 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 as well.

To find the nearest paycheck advance loan store, please navigate to the list below and locate your city.

Payday Loan Direct Lender Companies in Saraland, AL

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