Online Payday Loans in California
We've all found ourselves there on occasion, where some unforeseen bill arises be it vet costs, utility shutoff notices, or possibly a payment that we missed. In this situation, you should request a payday advance loan in California.
The process of applying for a cash advance loan is fast and easy. However, you do need to meet certain requirements to make sure you're eligible.
What Specifically is a Payday Advance Loan And Why Is It Necessary?
A payday advance loan is when someone borrows a small amount of funds on a short-term basis that they're contracted to repay with their next paycheck. This kind of loan doesn't require collateral, therefore it's considered an unsecured loan.
Getting a payday loan will help cover unforeseen expenses that pop up such as car repairs, medical fees, eviction notices, outstanding utility costs, and a lot more.
What Are The Criteria For Payday Advance Loans in the State of California?
To be able to get a cash advance loan in California there are some standards the borrower must satisfy in order to qualify, such as:
- Be 18 years of age or older
- Have the ability to provide an SSN
- Have proof of residence within California
- Have proof of a steady income of at least $1,000 per month
- Submit an email address and phone number
- You may not be bankrupt or in debt
The inability to abide by the requirements above will lead to an automatic denial of your application. Always check that you possess the correct documents on hand when applying.
Cash Advance Loan Rules and Laws in the State of California
With payday advance loans come specific rules and regulations depending on the city. We've outlined some of these, specific to the state of California:
- The greatest loan amount is $500 for a single repayment and $1,000 for multiple installments
- The annual percentage rate is 304%
- The state of California does not allow rollovers therefore the loans have to be repaid within the agreed upon time frame
There are distinct time frames for single payment loans and multiple installment loans.
- The borrower has 7 days to remit payment for a single-payment loan
- For multiple installment loans, the borrower has 60 days to pay it back
- The borrower will have no more than 31 days to pay back a single-payment loan
- 90 days will be granted to the borrower for repayment on a multiple installment loan
Do Payday Advance Loan Lenders Review Credit?
Lenders will complete a credit pull, but it's not the usual credit pull you may be familiar with. They will perform what's known as a soft credit check which verifies your general information along with your complete credit history.
The soft credit pull will not affect your credit, while alternatively, a hard credit inquiry will. Although, this needs your permission and is typically only used for rental applications, credit cards, car loans, and more.
Can I Be Approved For a Payday Loan with Poor Credit in California?
If you're concerned due to the fact that you have poor credit; don't be! You can still qualify for a cash advance loan with dismal credit or no credit at all, in California. If you have proof that you can pay the loan back, lenders usually aren't concerned with your credit rating.
Irregardless of if you request a loan online or at a payday advance lender store near you, always have your proof of regular income as well as other documents showing that you're able to pay back the loan. With more evidence, you increase the likelihood of approval.
When Will The Funds Show Up In My Account?
On average, the majority of borrowers should expect that their funds will appear in their account the next business day. However, this depends on a couple of things like:
- When you apply
- Who your bank is
As long as you apply prior to 10:30 AM when you are trying for a same-day payday advance loan in California, it will boost the chance that you receive your funds on the same day you apply. Obviously, only if you're approved.
Keep in mind that banks, as well as a lot of other businesses, close over the weekends, and on holidays. So, if you apply the day before a holiday, or before the weekend, there's a possibility your transfer will be delayed.
Who Do You Do Your Banking With?
Another thing you'll want to pay attention to is who you do your banking with. Banks have their own processes concerning releasing funds. Some may be okay with releasing them the same day whereas others will rely on a 3 to 5 day holding period.
You have the option to inform your banker that you are requesting a payday advance loan so that they may be able to make an exception on when to release the funds to your bank account. If they aren't able to offer an exception, you can ask them what their policy consists of so that you're informed.
Cash Advance Application Process In the State of California
The cash advance loan application process in California is simple. It doesn't depend on if you have no credit or even bad credit, you can still get approval. You don't need to venture out if you want to apply through us online. Alternatively, you can locate your nearest lender's storefront.
Either way, whatever you decide, all you need is your basic information such as your email address, phone number, social security number, etc.
Should you decide to go to your local lender at their storefront, be sure you have your government ID or passport to prove your identity. They may also want verification of address to verify you live in California, as well as verification of income.
Think About Applying With Us
We are an online service that provides cash advance loan applications online in the State of California. We are partnering with over a hundred lenders who provide services online. Plan to receive your cash advance by the next business day.
If you would rather, you can always find the closest payday loan storefront and apply there. This might strengthen the likelihood that you receive your funds on the same business day as long as you apply prior to 10:30 AM.
To find a payday advance loan storefront near you, find your city on the list below:
If you need cash as soon as possible, consider applying in person instead of online. If approved, you will get your money almost immediately. Please find the list of cities in California to find the nearest payday loan storefront.