Payday Loans in Bakersfield, California
Things happen, and we often wind up in a place where we must pay for some unforeseen costs. Consider applying for a cash advance loan in Bakersfield, CA, to see if you are eligible.
The application process is fast and simple. To be eligible, loan borrowers have to meet a few general conditions.
What is a Payday Loan? What Can It Be Put Towards?
A payday loan is where the borrower will get a petite sum of funds on a short-term contract. This is considered an unsecured personal loan as no collateral is needed.
When unexpected expenses come up, for example late rent or utility payments, car bills, health or vet costs, and so on, individuals usually seek out cash advance loans.
Payday Advance Loan Requirements In Bakersfield, CA
In Bakersfield, CA, paycheck advance loan borrowers must meet a few criteria to qualify for a loan.
The borrower must:
- Show proof that they reside in Bakersfield, California
- Must be at least 18
- Receive 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 meet the above criteria, they will automatically be denied a cash advance loan. Ensure that you have the documentation needed when submitting your application.
Laws and Regulations Concerning Cash Advance Loans in Bakersfield, CA
The State of California has ruled payday lending legal. Although, they have set the following rules and laws for the payday lending industry:
- A single money lender cannot offer a loan in excess of $600. Borrowers cannot have 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 California, borrowers are unable to rollover their loans.
- The fees and charges are different for each loan lender. The service costs enacted by the lender on each loan or transaction are not considered interest. The service fees apply to each $100 loaned and can range from 11% up to 15%.
- An interest rate must be mutually decided upon. APR can range up to 369%.
Will Payday Advance Lenders in Bakersfield, CA, Perform Credit Checks? What If I Have Poor/No Credit History At All?
Yes, the lenders we partner with will perform a credit check on you, still, even if you have no credit or poor credit, you might still be eligible for a loan provided you can show 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 use a soft credit check, which will have no impact on your credit score. This is only to get an idea of your credit history and general information.
A hard credit pull, on the other hand, needs your permission. These credit inquiries are used for a plethora of purposes, such as mortgages, credit card applications, and more.
You can still be approved for a payday advance loan with imperfect credit in Bakersfield, California, as long as you can prove you will repay the loan.
Therefore, when you apply for a loan, albeit in person or online, ensure that you have your income information easily accessible and any other documents showing that you can repay the loan. The more evidence you have, the more likely your loan request will be granted.
When Will I See My Money in Bakersfield, CA?
When you get your money truly relies on your lender as some lenders provide same-day paycheck advance loans, which means you will get your payday loan on the same day you submit your application, as long as you receive an approval.
Most of the time, however, lenders will give the borrower their lump sum on the following business day. Businesses usually close for holidays and weekends. Because of this, if you apply on a Friday, you might not get your loan until Monday.
If you're looking for a same-day payday loan in Bakersfield, California, you will need to make sure you're applying by 10:30 am. All same-day funds going out that day will be approved by that time. However, you should apply earlier than that if able, as it will increase the likelihood that you see your funds on the same day that you submit your application.
One other consideration that you should understand is even if the money lender approves your application and posts the loan to your checking account, sometimes the bank won't release that loan immediately. It's vital that you let your bank know that you plan to get a cash advance loan, so they might make an exception in releasing the deposit earlier.
Overall, it's best to prepare ahead of time to get your deposit on the following business day. That way, you're not out of luck if you cannot get it on the same day.
Think About Borrowing From Us
If you possess less than great credit or no credit and are searching to get a payday advance loan, think about applying with us, as you frequently have a better chance of approval.
We work with over one hundred different lenders who provide their services online. Frequently you will receive your loan on the next business day so make sure that you plan correctly.
Although, you can always find the nearest paycheck advance loan storefront to you and apply in person to strengthen the chances of seeing your loan on the same day. When applying 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 find the nearest cash advance loan store, please refer to the list below and search for your city.
Payday Loan Direct Lender Companies in Bakersfield, CA
Below you will find a list of payday loan companies offering their services in Bakersfield, California. If you can't find a lender near your location in Bakersfield, consider applying in a nearby city in California. Alternatively, you can apply online on our website and get a decision almost instantly.
If you can't find a lender near your location in Bakersfield, consider checking out payday loan lenders in nearby cities. Alternatively, apply online on our website and get an instant decision. If approved, you will get your cash the same or next business day.