Payday Loans in Chico, California
Events happen, and we often find ourselves in a situation where we have to cover some surprise expenses. Think about submitting an application for a cash advance loan in Chico, CA, to see if you meet the requirements.
The loan process is fast and effortless. To be qualified, loan borrowers have to satisfy a few general requirements.
What is a Payday Advance Loan? What Can It Cover?
A payday loan is where the borrower will be extended a petite amount of cash on a short-term basis. This is considered an unsecured loan due to the fact that no collateral is expected.
When surprise costs present themselves, for example late rent or utility costs, auto fixes, health or vet expenditures, and so on, individuals frequently turn to payday advance loans.
Paycheck Advance Loan Requirements In Chico, CA
In Chico, California, payday advance loan borrowers need to meet several criteria to qualify for a loan.
The borrower must:
- Prove that they live in Chico, California
- Must be at least 18
- Receive a steady income that they can prove that's at least $1,000/month
- Give up-to-date contact details such as cell phone number and email address
- Provide their social security number
If a borrower does not abide by the above rules, they will immediately be denied a paycheck advance loan. Make sure you have the documents required when submitting your application.
Laws and Regulations Regarding Cash Advance Loans in Chico, California
California has ruled cash advance lending legal. Although, they have put forth the below rules and laws for the payday advance lending market:
- A single lender can't extend a loan for more than $600. Borrowers may not have 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 California, borrowers are unable to rollover their loans.
- The fees and charges vary for each money lender. The service fees charged by the lender on a loan are not considered interest. The service fees apply to each $100 loaned and can vary between 11-15%.
- An interest rate must be mutually settled upon. APR can be as much as 369%.
Will Payday Advance Lenders in Chico, CA, Perform Credit Checks? What If I Have Bad/No Credit History At All?
Yes, the lenders we have a relationship with will do a credit check on you, still, even if you have no credit or poor credit, you may still be eligible for a loan given that 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 use a soft credit pull, which will not impact your credit score. This is only to get a feel of your credit history and basic information.
A hard credit check, alternatively, needs your permission. These credit checks are performed for various purposes, including mortgages, credit card applications, and more.
You may still qualify for a paycheck advance loan with less than great credit in Chico, California, if you have proof of repayment.
Therefore, when you request a loan, albeit in person or online, ensure that you have your income information ready and any other documents proving that you can repay the loan. The more proof you have, the more likely your loan application will be approved.
When Will I See My Deposit in Chico, California?
When you get your loan really depends on the lender as some lenders provide same-day cash advance loans, which means you will get your cash advance loan on the same day you submit your application, as long as you receive an approval.
Much of the time, though, lenders will send the borrower their lump sum on the next business day. Businesses generally close for holidays and weekends. Therefore, if you submit your application on a Friday, you might not see your loan until Monday.
If you're looking for a same-day paycheck advance loan in Chico, California, you will need to ensure you're applying by 10:30 am. Any and all same-day loans going out that day will be approved by that time. However, you should request a loan earlier than that if able, as it will boost the likelihood that you get your deposit on the day that you apply.
One more factor that you should understand is despite if the money lender grants your loan request and posts the deposit to your checking account, occasionally the bank won't release that loan at that time. It's paramount that you let your bank know that you plan to receive a paycheck advance loan, so they might 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 out of luck if you cannot receive it on the same day.
Think About Working With PaydayLoanRadar
If you possess poor credit or no credit and are wanting to get a cash advance loan, consider applying through us, as you usually 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 cash on the next business day so ensure that you plan accordingly.
However, you can always locate the nearest payday loan storefront to you and apply in person to boost the chances of seeing your cash on the same business day. When applying in person, ensure that you have your government ID or driver's license; a passport is sufficient. Sometimes, lenders may ask for proof of address, so take along a utility bill to the store as well.
To locate the nearest cash advance loan storefront, please navigate to the list below and search for your city.
Payday Loan Direct Lender Companies in Chico, CA
Below you will find a list of payday loan companies offering their services in Chico, California. If you can't find a lender near your location in Chico, 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 Chico, 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.