Payday Loans in Theodore, Alabama

Events happen, and we usually wind up in a place where we have to cover some unforeseen costs. Consider applying for a cash advance loan in Theodore, Alabama, to see if you qualify.

The loan request process is swift and effortless. To qualify, you have to satisfy a couple of general criteria.

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

A paycheck advance loan is where the borrower will be extended a petite amount of funds on a short-term agreement. This is deemed to be an unsecured personal loan as no collateral is required.

When unforeseen expenses arise, like past due rent or utility expenditures, auto costs, medical or vet fees, and so forth, people often rely upon cash advance loans.

Paycheck Advance Loan Criteria In Theodore, Alabama

In Theodore, Alabama, payday loan borrowers must meet a few stipulations to be eligible for a loan.

The borrower has to:

• Provide proof that they reside in Theodore, Alabama
• Must be 18 years of age
• Receive an income that they can provide proof of being at least $1,000/month
• Give up-to-date contact details such as 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. Ensure that you possess the documents required when applying for a loan.

Laws and Rules Regarding Cash Advance Loans in Theodore, AL

The State of Alabama has ruled cash advance lending legal. Still, they have set the following rules and regulations for the cash advance lending market:

• An individual lender cannot extend a loan in excess of $600. Borrowers cannot take out greater than two unpaid 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 may not rollover their loans.
• The fees and charges change for each money lender. The service fees enacted by lenders on a payday loan do not fall under interest. The service fees apply to each $100 loaned and can range from 11% up to 15%.
• An interest rate is required to be mutually decided upon. APR can be as high as 369%.

Will Cash Advance Lenders in Theodore, AL, Complete Credit Checks? What If I Have Bad/No Credit History At All?

Yes, the lenders we work with will run a credit check on you, but, even if you have no credit or dismal credit, you may still be approved for a loan given that you can show that you can repay the loan. Lenders are commonly unconcerned about your credit if you offer proof of income and a plan to repay the loan.

Lenders will perform a soft credit pull, which will not impact your credit score. This is simply to get a look at your credit history and general information.

A hard credit pull, dissimilarly, requires your permission. These credit inquiries are utilized for a plethora of purposes, including mortgages, credit cards, and more.

You can still be approved for a cash advance loan with poor credit in Theodore, AL, if you can prove you will repay the loan.

Therefore, when you apply, albeit in person or online, double check that you have your income information easily accessible and any other documents proving that you can repay the loan. The more proof you provide, the more likely your loan request will be granted.

When Will I Receive My Money in Theodore, AL?

When you see your cash truly relies on your lender as some lenders provide same-day paycheck advance loans, which means you will get your payday advance loan on the same day you apply, as long as you're approved.

Much of the time, though, lenders will send the borrower their lump sum on the following business day. Businesses typically close for holidays and weekends. So, if you submit your application on a Friday, you may not receive your money until Monday.

If you're searching for a same-day paycheck advance loan in Theodore, AL, you will need to ensure you're applying by 10:30 am. Any and all same-day funds 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 boost the likelihood that you get your deposit on the same day that you submit your application.

One other consideration that you should know is despite if the lender grants your loan request and posts the credit to your bank, sometimes the bank won't release that loan immediately. It's important to let your bank know that you plan to get a payday loan, so they could possibly make an exception in releasing the cash earlier.

Overall, 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 receive it on the same day.

Consider Borrowing From Us

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

We partner with more than one hundred different lenders who provide their services online. Much of the time you will receive your money on the following business day so ensure that you plan appropriately.

However, you can always locate the closest payday loan storefront to you and apply in person to strengthen the chances of getting your loan on the same 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. Infrequently, lenders may ask for proof of address, so bring a utility bill to the store as well.

To locate the nearest payday advance loan store, please use the list below and locate your city.

Payday Loan Direct Lender Companies in Theodore, AL

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