Payday Loans in Brea, California
Events happen, and we often end up in a spot where we must cover some unexpected costs. Think about applying for a payday advance loan in Brea, CA, to see if you qualify.
The loan process is quick and painless. To qualify, you must satisfy a few simple requirements.
What is a Payday Advance Loan? What Can It Pay For?
A paycheck advance loan is where the borrower will receive a small sum of funds on a short-term contract. This is thought of as an unsecured personal loan because no collateral is needed.
When unexpected bills arise, like past due rent or utility fees, car bills, medical or vet bills, and so forth, individuals usually turn to paycheck advance loans.
Cash Advance Loan Requirements In Brea, CA
In Brea, California, payday loan borrowers need to meet a few criteria to qualify for a loan.
The borrower is required to:
- Provide proof that they reside in Brea, CA
- Must be at least 18
- Receive a steady stream of income that they can prove that's at least $1,000 per month
- Provide active contact information such as cell phone number and email address
- Provide their social security number
If a borrower does not meet the above rules, they will automatically be denied a cash advance loan. Make sure you can provide the documentation needed when applying.
Laws and Regulations Concerning Payday Loans in Brea, California
California has deemed payday advance lending legal. Still, they have put forth the below rules and laws for the paycheck advance lending market:
- A single lender cannot extend a loan in excess of $600. Borrowers may not have more than two unpaid 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 California, borrowers are unable to rollover their loans.
- The fees and charges change for each lender. The service costs enacted by lenders on a loan do not fall under interest. The service fees apply to each $100 borrowed and can vary from 11% up to 15%.
- An interest rate must be mutually settled upon. APR can be as much as 369%.
Will Payday Lenders in Brea, California, Run Credit Checks? What If I Have Poor/No Credit History At All?
Yes, the lenders we have a relationship with will do a credit check on you, but, even if you have no credit or poor credit, you might still be eligible for a loan as long as you can prove that you are able to pay back the loan. Lenders are generally unconcerned about your credit history if you offer proof of income and a strategy to pay back the loan.
Lenders will conduct a soft credit check, which will not impact your credit score. This is only to get a look at your credit history and basic information.
A hard credit inquiry, dissimilarly, must have your permission. These credit inquiries are performed for various purposes, such as mortgages, credit card applications, and more.
You may still qualify for a payday loan with bad credit in Brea, CA, 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 at hand and any other documents proving that you can pay back the loan. The more proof you have, the better chance your loan application will be approved.
When Will I See My Deposit in Brea, CA?
When you get your funds actually 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 give the borrower their lump sum on the following business day. Businesses often close for holidays and weekends. Therefore, if you apply on a Friday, you may not receive your money until Monday.
If you're searching for a same-day cash advance loan in Brea, California, you will need to make sure you're applying by 10:30 am. Any and all same-day funds going out that day will be approved by that deadline. However, you should request a loan earlier than that if able, as it will boost the likelihood that you see your loan on the same day that you apply.
One additional factor that you should be aware of is despite if the money lender approves your application and posts the funds to your bank account, sometimes the bank won't release that credit at that time. It's vital that you let your bank know that you plan to get a payday loan, so they might make an exception in releasing the deposit earlier.
On the whole, it's best to prepare in advance to receive your loan on the next business day. That way, you're not left in the lurch if you cannot get it on the same day.
Consider Borrowing From PaydayLoanRadar
If you possess less than great credit or no credit and are searching to get a payday advance loan, think about applying through us, as you most likely have a better chance of approval.
We work with over one hundred different lenders who offer their services online. Most of the time you will get your cash on the next business day so ensure that you plan appropriately.
Although, you can always locate the closest payday advance loan storefront to you and apply in person to strengthen the chances of receiving your cash on the same day. When requesting a loan in person, make sure that you have your government ID or driver's license; a passport is sufficient. Infrequently, lenders may require proof of address, so bring a utility bill to the store too.
To find the nearest cash advance loan storefront, please use the list below and find your city.
Payday Loan Direct Lender Companies in Brea, CA
Below you will find a list of payday loan companies offering their services in Brea, California. If you can't find a lender near your location in Brea, 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 Brea, 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.