Payday Loans in La Puente, California
Life happens, and we often wind up in a spot where we must pay for some unexpected expenses. Think about submitting an application for a payday advance loan in La Puente, CA, to see if you meet the requirements.
The loan application process is swift and painless. To be qualified, you must satisfy a few straightforward requirements.
What is a Paycheck Advance Loan? What Can It Be Used For?
A payday loan is where the borrower will be extended a petite amount of cash on a short-term contract. This is considered an unsecured loan due to the fact that no collateral is required.
When unexpected expenses come up, for example late rent or utility costs, auto fees, health or vet costs, and so on, people frequently turn to payday loans.
Paycheck Advance Loan Requirements In La Puente, California
In La Puente, California, payday advance loan borrowers are required to satisfy several criteria to be eligible for a loan.
The borrower has to:
- Prove that they are a resident of La Puente, CA
- Must be 18 or older
- Receive a steady stream of income that they can provide proof of being at least $1,000 per month
- Give up-to-date contact information including 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 payday loan. Ensure that you possess the documentation needed when requesting a loan.
Laws and Regulations Concerning Cash Advance Loans in La Puente, California
The State of California has ruled paycheck advance lending legal. Still, they have set the following rules and laws for the payday lending market:
- An individual money lender cannot offer a loan for more than $600. Borrowers may not have greater than two outstanding loans from different lenders. There is no minimum loan amount.
- There is no minimum loan term, the maximum loan term length is 31 days. In the State of California, borrowers are not allowed to rollover their loans.
- The fees and charges are different for each money lender. The service costs enacted by the lender on a loan do not fall under interest. The service fees apply to each $100 loaned and can range between 11-15%.
- An interest rate is required to be mutually settled upon. APR can be as high as 369%.
Will Payday Advance Lenders in La Puente, CA, Complete 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 dismal credit, you may still be approved for a loan as long as you can show that you are able to repay the loan. Lenders are commonly 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 inquiry, which will have no impact on your credit score. This is solely to get a look at your credit history and basic information.
A hard credit inquiry, on the other hand, needs your permission. These credit checks are done for various purposes, such as mortgages, credit cards, and more.
You may still be approved for a cash advance loan with bad credit in La Puente, 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 repay the loan. The more proof you possess, the better chance you are to be approved.
When Will I Receive My Funds in La Puente, CA?
When you get your loan actually relies on the lender as some lenders advertise same-day cash advance loans, which means you will receive your paycheck advance loan on the same day you request a loan, as long as you get an approval.
Most of the time, however, lenders will send the borrower their lump sum on the next business day. Businesses generally close for holidays and weekends. So, if you apply on a Friday, you might not receive your deposit until Monday.
If you're wanting a same-day payday advance loan in La Puente, CA, 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 cut-off. However, you should submit an application earlier than that if able, as it will boost the likelihood that you receive your loan on the day that you submit your application.
One other consideration that you should know is despite if the lender grants your loan request and posts the funds to your bank account, occasionally the bank won't release that loan right away. It's paramount that you let your bank know that you plan to receive a payday loan, so they might make an exception in releasing the deposit earlier.
Overall, it's wise to prepare in advance to get your loan on the next business day. That way, you're not out of luck if you cannot get it on the same day.
Consider Borrowing From PaydayLoanRadar
If you possess poor credit or no credit and are wanting to get a paycheck advance loan, consider applying with us, as you frequently have a better chance of approval.
We work with hundreds of different lenders who offer their services online. Frequently you will see your loan on the next business day so ensure that you plan accordingly.
Although, you can always find the closest paycheck advance loan storefront to you and apply in person to strengthen the chances of seeing your cash on the same day. When requesting a loan in person, ensure that you have your government ID or driver's license; a passport will work as well. Now and again, lenders may require proof of address, so bring a utility bill to the store too.
To find the nearest payday advance loan storefront, please use the list below and search for your city.
Payday Loan Direct Lender Companies in La Puente, CA
Below you will find a list of payday loan companies offering their services in La Puente, California. If you can't find a lender near your location in La Puente, 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 La Puente, 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.