Payday Loans in Hayward, California
Things happen, and we usually end up in a spot where we have to cover some unforeseen costs. Consider submitting an application for a cash advance loan in Hayward, CA, to see if you qualify.
The application process is quick and simple. To qualify, you have to meet a couple of general requirements.
What is a Cash Advance Loan? What Can It Pay For?
A payday loan is where the borrower will receive a small sum of money on a short-term basis. This is deemed to be an unsecured personal loan due to the fact that no collateral is needed.
When unforeseen expenses arise, like missed rent or utility fees, auto fees, medical or vet bills, and so forth, individuals commonly rely upon payday advance loans.
Payday Advance Loan Criteria In Hayward, CA
In Hayward, California, payday loan borrowers need to meet several criteria to qualify for a loan.
The borrower has to:
- Show proof that they live in Hayward, CA
- Must be 18 years of age
- Receive an income that they can prove that's at least $1,000 per month
- Give current contact information including phone number and email address
- Give their SSN
If a borrower does not abide by the above criteria, they will automatically be denied a payday loan. Make sure you possess the documents needed when applying.
Laws and Regulations Regarding Payday Loans in Hayward, California
California has deemed cash advance lending legal. However, they have enacted the below rules and regulations for the paycheck advance lending market:
- An individual lender cannot offer a loan in excess of $600. Borrowers are not allowed to 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 cannot rollover their loans.
- The fees and charges change for each money lender. The service fees charged by lenders on a cash advance loan 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 settled upon. APR can be as much as 369%.
Will Paycheck Advance Lenders in Hayward, CA, Run Credit Checks? What If I Have Bad/No Credit History At All?
Yes, the lenders we partner with will complete a credit check on you, but, even if you possess no credit or less than stellar credit, you may still be eligible for a loan provided you can prove that you can pay back the loan. Lenders are commonly unbothered by your credit if you have proof of income and a strategy to pay back the loan.
Lenders will perform a soft credit inquiry, which will have no impact on your credit score. This is simply to get a feel of your credit history and general information.
A hard credit inquiry, dissimilarly, requires your permission. These credit checks are performed for a plethora of purposes, such as mortgages, credit card applications, and more.
You might still be approved for a paycheck advance loan with bad credit in Hayward, California, if you have proof of repayment.
Therefore, when you apply for a loan, whether it is in person or online, ensure that you have your income information easily accessible and any other documents proving that you can repay the loan. The more proof you possess, the better chance your loan application will be approved.
When Will I Receive My Funds in Hayward, California?
When you get your loan truly relies on the lender as some lenders provide same-day cash advance loans, which means you will see your cash advance loan on the same day you apply, as long as you receive an approval.
Much of the time, though, lenders will give the borrower their lump sum on the following business day. Businesses usually close for holidays and weekends. Therefore, if you apply on a Friday, you may not get your cash until Monday.
If you're needing a same-day payday loan in Hayward, CA, you will need to make sure you're applying by 10:30 am. All same-day deposits going out that day will be approved by that cut-off. However, you should apply earlier than that if possible, as it will boost the likelihood that you receive your funds on the same day that you apply.
One more consideration that you should know is despite if the money lender grants your loan request and posts the deposit to your bank, sometimes the bank won't release that funds right away. It's vital that you let your bank know that you plan to get a cash advance loan, so they could possibly make an exception in releasing the funds earlier.
On the whole, it's best to prepare ahead of time to get your deposit on the following business day. That way, you're not left in the lurch if you cannot get it on the same day.
Think About Working With Us
If you have bad credit or no credit and are needing to secure a cash advance loan, consider applying through us, as you usually have a higher chance of approval.
We partner with hundreds of different lenders who offer their services online. Much of the time you will see your money on the following business day so ensure that you plan accordingly.
Although, you can always locate the closest paycheck advance loan storefront to you and apply in person to boost the chances of seeing your funds on the same day. When submitting an application in person, ensure that you have your government ID or driver's license; a passport is sufficient. Infrequently, lenders may request proof of address, so take along a utility bill to the store as well.
To find the nearest cash advance loan store, please navigate to the list below and search for your city.
Payday Loan Direct Lender Companies in Hayward, CA
Below you will find a list of payday loan companies offering their services in Hayward, California. If you can't find a lender near your location in Hayward, 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 Hayward, 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.