Payday Loans in Smiths Station, Alabama

Events happen, and we often find ourselves in a situation where we have to cover some unforeseen bills. Think about applying for a cash advance loan in Smiths Station, AL, to see if you qualify.

The loan process is swift and painless. To be eligible, borrowers have to satisfy a few simple requirements.

What is a Payday Loan? What Can It Be Used For?

A paycheck advance loan is where the borrower will get a small sum of money on a short-term agreement. This is considered an unsecured personal loan due to the fact that no collateral is expected.

When unforeseen financial needs come up, like missed rent or utility bills, vehicle fixes, health or vet expenditures, and so forth, people frequently seek out payday loans.

Cash Advance Loan Criteria In Smiths Station, AL

In Smiths Station, Alabama, paycheck advance loan borrowers must meet a few stipulations to be eligible for a loan.

The borrower has to:

• Prove that they reside in Smiths Station, Alabama
• Must be 18 or older
• Have a steady income that they can prove that's at least $1,000/month
• Give up-to-date contact information like cell phone number and email address
• Provide their SSN

If a borrower does not satisfy the above requirements, they will immediately be denied a payday advance loan. Make sure you have the documents required when applying.

Laws and Rules Concerning Payday Advance Loans in Smiths Station, Alabama

The State of Alabama has ruled payday lending legal. Although, they have set the below rules and laws for the payday advance lending market:

• An individual lender can't extend a loan in excess of $600. Borrowers cannot possess greater than two outstanding 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 Alabama, borrowers may not rollover their loans.
• The fees and charges vary for each money lender. The service costs charged by the lender on a cash advance loan do not fall under interest. The service fees apply to every $100 borrowed and can range between 11-15%.
• An interest rate is required to be mutually agreed upon. APR can be as high as 369%.

Will Payday Advance Lenders in Smiths Station, Alabama, Complete Credit Checks? What If I Have Poor/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 poor credit, you might still be approved for a loan provided you can show that you can repay the loan. Lenders are commonly unconcerned about your credit if you provide proof of income and a strategy to repay the loan.

Lenders will perform a soft credit check, which will have no impact on your credit score. This is solely to get a feel of your credit history and general information.

A hard credit pull, alternatively, requires your explicit consent. These credit inquiries are utilized for a plethora of purposes, including mortgages, credit card applications, and more.

You might still qualify for a payday loan with bad credit in Smiths Station, AL, as long as you have proof of repayment.

Therefore, when you request a loan, albeit in person or online, make sure that you have your income information available and any other documents proving that you can repay the loan. The more evidence you show, the better chance your loan request will be granted.

When Will I See My Cash in Smiths Station, AL?

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

Most of the time, however, lenders will give the borrower their lump sum on the following business day. Businesses typically close for holidays and weekends. Because of this, if you apply on a Friday, you may not receive your funds until Monday.

If you're looking for a same-day cash advance loan in Smiths Station, Alabama, 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 deadline. However, you should submit an application earlier than that if able, as it will boost the likelihood that you see your cash on the day that you apply.

One other factor that you should understand is despite if the money lender approves your application and posts the credit to your bank, sometimes the bank won't release that deposit at that time. It's paramount that you let your bank know that you plan to receive a payday advance loan, so they could possibly make an exception in releasing the cash earlier.

Overall, it's wise to prepare in advance to receive your deposit 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 poor credit or no credit and are searching to secure a payday advance loan, think about applying with us, as you usually have a higher chance of approval.

We work with hundreds of different lenders who offer their services online. Frequently you will receive your funds on the following business day so ensure that you plan accordingly.

However, you can always locate the closest payday advance loan storefront to you and apply in person to increase the chances of seeing your loan on the same day. When submitting an application in person, make sure that you have your government ID or driver's license; a passport is sufficient. Sometimes, lenders may require proof of address, so take along a utility bill to the store too.

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

Payday Loan Direct Lender Companies in Smiths Station, AL

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