Payday Loans in Colton, California
Incidents happen, and we usually find ourselves in a situation where we must pay for some unforeseen costs. Consider applying for a payday loan in Colton, CA, to see if you qualify.
The loan application process is swift and painless. To qualify, borrowers have to satisfy a few straightforward conditions.
What is a Paycheck Advance Loan? What Can It Be Put Towards?
A paycheck advance loan is where the borrower will be extended a petite sum of cash on a short-term contract. This is considered an unsecured loan as no collateral is expected.
When surprise bills present themselves, such as late rent or utility bills, vehicle fixes, health or vet costs, and so on, people commonly turn to payday advance loans.
Payday Loan Stipulations In Colton, California
In Colton, CA, payday loan borrowers must meet several stipulations to qualify for a loan.
The borrower has to:
- Show proof that they are a resident of Colton, CA
- Must be 18 years of age
- Receive an income that they can provide proof of being at least $1,000/month
- Give up-to-date contact details including cell phone number and email address
- Give their SSN
If a borrower does not abide by the above rules, they will automatically be denied a cash advance loan. Make sure you can provide the documents required when applying for a loan.
Laws and Regulations Concerning Payday Advance Loans in Colton, California
The State of California has ruled payday advance lending legal. However, they have created the below rules and laws for the payday lending market:
- An individual lender cannot extend a loan for more than $600. Borrowers are not allowed to possess 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 vary for each lender. The service fees charged by lenders on a cash advance loan are not considered interest. The service fees apply to every $100 loaned and can range from 11% up to 15%.
- An interest rate must be mutually decided upon. APR can be as much as 369%.
Will Paycheck Advance Lenders in Colton, CA, Complete Credit Checks? What If I Have Poor/No Credit History At All?
Yes, the lenders we work with will complete a credit check on you, still, even if you have no credit or poor credit, you may still be approved for a loan as long as you can show that you can repay the loan. Lenders are typically unconcerned about your credit if you possess proof of income and a strategy to repay the loan.
Lenders will use a soft credit pull, which will have no impact on your credit score. This is simply to get a feel of your credit history and basic information.
A hard credit check, on the other hand, needs your permission. These credit inquiries are utilized for various purposes, such as mortgages, credit card applications, and more.
You might still be approved for a paycheck advance loan with poor credit in Colton, California, if you can prove you will repay the loan.
Therefore, when you apply, whether it is in person or online, ensure that you have your income information available and any other documents proving that you can pay back the loan. The more proof you provide, the more likely your loan request will be granted.
When Will I See My Loan in Colton, CA?
When you receive your deposit truly depends on your lender as some lenders provide same-day payday advance loans, which means you will get your payday advance loan on the same day you apply, as long as you get an approval.
Much of the time, however, lenders will give the borrower their lump sum on the following business day. Businesses often close for holidays and weekends. Therefore, if you submit your application on a Friday, you may not receive your money until Monday.
If you're wanting a same-day cash advance loan in Colton, 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 time. However, you should apply earlier than that if possible, as it will increase the likelihood that you see your loan on the same day that you apply.
One additional consideration that you should be aware of is despite if the lender approves your application and posts the credit to your checking account, occasionally 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 might make an exception in releasing the funds earlier.
Overall, it's best to prepare in advance to receive your deposit on the next 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 have bad credit or no credit and are needing to secure a paycheck advance loan, consider applying with us, as you frequently 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 see your money on the next business day so make sure that you plan accordingly.
However, you can always find the nearest payday advance loan store to you and apply in person to strengthen the chances of receiving your cash on the same day. When applying in person, make sure that you have your government ID or driver's license; a passport will work as well. Sometimes, lenders may ask for proof of address, so bring a utility bill to the store too.
To locate the nearest payday loan storefront, please refer to the list below and search for your city.
Payday Loan Direct Lender Companies in Colton, CA
Below you will find a list of payday loan companies offering their services in Colton, California. If you can't find a lender near your location in Colton, 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 Colton, 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.