Payday Loans in Valley, Alabama

Things happen, and we often find ourselves in a spot where we have to pay for some unexpected expenses. Consider applying for a payday advance loan in Valley, Alabama, to see if you meet the requirements.

The application process is quick and straightforward. To be qualified, loan borrowers must satisfy a few straightforward requirements.

What is a Payday Loan? What Can It Be Put Towards?

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

When unexpected financial needs come up, like missed rent or utility fees, car fixes, health or vet expenditures, and so forth, people commonly rely upon payday loans.

Cash Advance Loan Criteria In Valley, Alabama

In Valley, AL, cash advance loan borrowers need to meet several criteria to be eligible for a loan.

The borrower must:

• Provide proof that they are a resident of Valley, Alabama
• Must be 18 years of age
• Have a steady stream of income that they can prove that's at least $1,000 per month
• Provide current contact details such as phone number and email address
• Give their social security number

If a borrower does not abide by the above requirements, they will immediately be denied a cash advance loan. Make sure you possess the documents required when submitting your application.

Laws and Regulations Concerning Payday Loans in Valley, Alabama

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

• An individual lender can't extend a loan for more than $600. Borrowers cannot take out 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 the State of Alabama, borrowers are not allowed to rollover their loans.
• The fees and charges vary for each loan lender. The service fees enacted by lenders on a payday loan are not considered interest. The service fees apply to each $100 borrowed and can vary from 11% up to 15%.
• An interest rate must be mutually agreed upon. APR can be as much as 369%.

Will Paycheck Advance Lenders in Valley, AL, Complete Credit Checks? What If I Have Dismal/No Credit History At All?

Yes, the lenders we have a relationship with will run a credit check on you, but, even if you have no credit or less than optimal credit, you might still be eligible for a loan provided you can prove that you can repay the loan. Lenders are generally unconcerned about your credit history if you offer proof of income and a strategy to repay the loan.

Lenders will rely on 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 permission. These credit checks are performed for a variety of purposes, including mortgages, credit card applications, and more.

You can still be approved for a paycheck advance loan with bad credit in Valley, Alabama, as long as you have proof of repayment.

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

When Will I Get My Funds in Valley, Alabama?

When you get your cash truly depends on the lender as some lenders offer same-day cash advance loans, which means you will get your payday advance loan on the same day you apply, as long as you receive an approval.

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 receive your funds until Monday.

If you're needing a same-day cash advance loan in Valley, Alabama, you will need to be sure that you're applying by 10:30 am. All same-day deposits going out that day will be approved by that cut-off. However, you should submit an application earlier than that if possible, as it will boost the likelihood that you get your deposit on the day that you apply.

One more consideration that you should understand is despite if the lender grants your loan request and posts the deposit to your bank account, sometimes the bank won't release that loan right away. It's vital that you let your bank know that you plan to receive a cash advance loan, so they could possibly make an exception in releasing the deposit earlier.

On the whole, it's wise to prepare ahead of time to receive money on the following business day. That way, you're not out of luck if you cannot get it on the same day.

Consider Working With Us

If you possess less than great credit or no credit and are looking to secure a paycheck advance loan, consider applying with us, as you most likely have a better chance of approval.

We work with more than one hundred different lenders who offer their services online. Frequently you will see your money on the following business day so ensure that you plan correctly.

However, you can always find the closest payday advance loan storefront to you and apply in person to boost the chances of receiving your loan on the same business day. When requesting a loan in person, ensure that you have your government ID or driver's license; a passport will work as well. Now and again, lenders may require proof of address, so bring a utility bill to the store as well.

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

Payday Loan Direct Lender Companies in Valley, AL

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