Payday Loans in El Cajon, California
Life happens, and we usually end up in a place where we must pay for some unforeseen bills. Consider applying for a paycheck advance loan in El Cajon, California, to see if you qualify.
The loan request process is quick and painless. To qualify, loan borrowers must meet a couple of simple conditions.
What is a Cash Advance Loan? What Can It Be Used For?
A payday advance loan is where the borrower will receive a small sum of cash on a short-term contract. This is deemed to be an unsecured personal loan because no collateral is expected.
When unexpected financial needs present themselves, for example past due rent or utility bills, car bills, medical or vet fees, and so forth, people often seek out payday loans.
Payday Loan Requirements In El Cajon, California
In El Cajon, CA, cash advance loan borrowers need to satisfy a few stipulations to be eligible for a loan.
The borrower must:
- Prove that they are a resident of El Cajon, CA
- Must be 18 years old
- Have a steady stream of income that they can provide proof of being at least $1,000 per month
- Provide up-to-date contact information like phone number and email address
- Give their SSN
If a borrower does not abide by the above rules, they will automatically be denied a payday loan. Ensure that you can provide the documentation needed when applying for a loan.
Laws and Rules Concerning Paycheck Advance Loans in El Cajon, CA
The State of California has deemed paycheck advance lending legal. Still, they have enacted the following rules and regulations for the paycheck advance lending industry:
- An individual money lender cannot offer a loan for more than $600. Borrowers are not allowed to have greater than two unpaid loans from different lenders. There is no minimum loan amount.
- The minimum loan term is not set, the longest loan term length is 31 days. In the State of California, borrowers are not allowed to rollover their loans.
- The fees and charges change for each loan lender. The service costs enacted by lenders on a cash advance loan do not fall under interest. The service fees apply to every $100 borrowed and can range from 11% up to 15%.
- An interest rate is required to be mutually settled upon. APR can range up to 369%.
Will Payday Lenders in El Cajon, California, Run Credit Checks? What If I Have Dismal/No Credit History At All?
Yes, the lenders we partner with will perform a credit check on you, but, even if you possess no credit or less than optimal credit, you might still be approved for a loan as long as you can show that you are able to repay the loan. Lenders are typically unbothered by your credit if you provide proof of income and a plan to pay back the loan.
Lenders will rely on a soft credit pull, which will have no impact on your credit score. This is solely to get a feel of your credit history and general information.
A hard credit pull, on the other hand, requires your explicit consent. These credit checks are utilized for a variety of purposes, such as mortgages, credit cards, and more.
You may still be approved for a payday advance loan with poor credit in El Cajon, CA, provided that you can prove you will repay the loan.
So, when you apply, whether it is in person or online, double check that you have your income information available and any other documents proving that you can pay back the loan. The more evidence you show, the better chance your loan application will be approved.
When Will I See My Money in El Cajon, CA?
When you see your funds truly relies on your lender as some lenders provide same-day payday loans, which means you will see your payday loan on the same day you request a loan, 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 often close for holidays and weekends. So, if you apply on a Friday, you may not see your funds until Monday.
If you're needing a same-day payday advance loan in El Cajon, CA, you will need to ensure you're applying by 10:30 am. All same-day funds going out that day will be approved by that time. However, you should submit an application earlier than that if possible, as it will increase the likelihood that you get your loan on the same day that you submit your application.
One more consideration that you should understand is even if the lender approves your application and posts the credit to your bank account, sometimes the bank won't release that credit immediately. It's important to let your bank know that you plan to get a payday loan, so they could possibly make an exception in releasing the loan earlier.
On the whole, it's wise to prepare in advance to get 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 Us
If you have less than great credit or no credit and are searching to secure a payday loan, think about applying with us, as you probably have a higher chance of approval.
We work with over one hundred different lenders who offer their services online. Frequently you will get your funds on the following business day so make sure that you plan correctly.
Although, you can always find the closest payday advance loan store to you and apply in person to increase the chances of getting your loan on the same day. When requesting a loan in person, make sure that you have your government ID or driver's license; a passport will work as well. Now and again, lenders may request proof of address, so bring a utility bill to the store too.
To find the nearest paycheck advance loan store, please navigate to the list below and search for your city.
Payday Loan Direct Lender Companies in El Cajon, CA
Below you will find a list of payday loan companies offering their services in El Cajon, California. If you can't find a lender near your location in El Cajon, 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 El Cajon, 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.