Payday Loans in Lakewood, California
Incidents happen, and we often end up in a spot where we have to pay for some unforeseen expenses. Think about submitting an application for a payday loan in Lakewood, CA, to see if you meet the requirements.
The loan request process is quick and painless. To be qualified, you have to satisfy a couple of basic conditions.
What is a Payday Advance Loan? What Can It Be Used For?
A payday advance loan is where the borrower will get a petite amount of money on a short-term basis. This is thought of as an unsecured personal loan due to the fact that no collateral is required.
When unforeseen costs present themselves, for example late rent or utility bills, car repairs, health or vet fees, and so on, individuals often rely upon payday advance loans.
Paycheck Advance Loan Criteria In Lakewood, CA
In Lakewood, California, payday advance loan borrowers must meet several stipulations to qualify for a loan.
The borrower must:
- Provide proof that they are a resident of Lakewood, CA
- Must be 18 or older
- Receive a steady income that they can provide proof of being at least $1,000 per month
- Provide up-to-date contact details such as phone number and email address
- Give their social security number
If a borrower does not abide by the above requirements, they will immediately be denied a cash advance loan. Ensure that you have the documents needed when applying.
Laws and Regulations Regarding Paycheck Advance Loans in Lakewood, CA
The State of California has deemed paycheck advance lending legal. However, they have set the below rules and regulations for the paycheck advance lending market:
- A single money lender cannot offer a loan in excess of $600. Borrowers are not allowed to possess more than two outstanding loans from different lenders. There is no smallest loan amount.
- There is no minimum loan term, the maximum loan term length is 31 days. In the State of California, borrowers cannot rollover their loans.
- The fees and charges are different for each money lender. The service costs charged by the lender on a payday loan do not fall under interest. The service fees apply to every $100 loaned and can vary from 11% up to 15%.
- An interest rate must be mutually settled upon. APR can be as high as 369%.
Will Paycheck Advance Lenders in Lakewood, CA, Complete Credit Checks? What If I Have Dismal/No Credit History At All?
Yes, the lenders we have a relationship with will complete a credit check on you, still, even if you possess no credit or bad credit, you may still be eligible for a loan given that you can show that you can repay the loan. Lenders are typically unconcerned about your credit if you provide proof of income and a plan to pay back the loan.
Lenders will rely on 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 general information.
A hard credit inquiry, on the other hand, must have your permission. These credit inquiries are done for various purposes, such as mortgages, credit cards, and more.
You might still qualify for a paycheck advance loan with imperfect credit in Lakewood, California, as long as you have proof of repayment.
So, when you apply, whether it is in person or online, ensure that you have your income information ready and any other documents proving that you can pay back the loan. The more proof you have, the better chance your loan request will be granted.
When Will I Get My Cash in Lakewood, California?
When you see your cash actually depends on the lender as some lenders advertise same-day payday advance loans, which means you will see your payday advance loan on the same day you apply, as long as you get an approval.
Most of the time, however, lenders will send the borrower their lump sum on the following business day. Businesses generally close for holidays and weekends. Therefore, if you apply on a Friday, you might not get your cash until Monday.
If you're searching for a same-day payday advance loan in Lakewood, CA, you will need to be sure that you're applying by 10:30 am. All same-day payments going out that day will be approved by that deadline. However, you should request a loan earlier than that if possible, as it will boost the likelihood that you get your deposit on the day that you apply.
One other factor that you should understand is despite if the money lender approves your application and posts the credit to your bank, 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 could possibly make an exception in releasing the cash earlier.
On the whole, it's wise to prepare ahead of time to receive your deposit on the following business day. That way, you're not out of luck if you cannot receive it on the same day.
Think About Borrowing From Us
If you have less than great credit or no credit and are wanting to secure a payday loan, think about applying through us, as you probably have a better chance of approval.
We work with hundreds of different lenders who provide their services online. Much of the time you will see your money on the next business day so ensure that you plan correctly.
Although, you can always locate the nearest payday loan storefront to you and apply in person to boost the chances of seeing your money on the same day. When requesting a loan in person, ensure that you have your government ID or driver's license; a passport is sufficient. Now and again, lenders may request proof of address, so bring a utility bill to the store as well.
To locate the nearest paycheck advance loan store, please refer to the list below and search for your city.
Payday Loan Direct Lender Companies in Lakewood, CA
Below you will find a list of payday loan companies offering their services in Lakewood, California. If you can't find a lender near your location in Lakewood, 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 Lakewood, 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.