Payday Loans in Modesto, California
Life happens, and we usually wind up in a spot where we must pay for some unexpected costs. Consider applying for a payday advance loan in Modesto, CA, to see if you qualify.
The loan request process is quick and simple. To qualify, you have to meet a few general requirements.
What is a Paycheck Advance Loan? What Can It Cover?
A payday advance loan is where the borrower will be extended a small amount of money on a short-term basis. This is considered an unsecured loan as no collateral is needed.
When unforeseen costs arise, like missed rent or utility payments, vehicle costs, medical or vet expenditures, and so on, people often seek out paycheck advance loans.
Cash Advance Loan Requirements In Modesto, California
In Modesto, California, paycheck advance loan borrowers must meet several criteria to qualify for a loan.
The borrower has to:
- Prove that they live in Modesto, 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
- Provide their social security number
If a borrower does not abide by the above criteria, they will automatically be denied a paycheck advance loan. Make sure you possess the documentation needed when requesting a loan.
Laws and Rules Concerning Paycheck Advance Loans in Modesto, CA
The State of California has ruled payday advance lending legal. Although, they have enacted the following rules and regulations for the payday lending industry:
- A single lender cannot offer a loan in excess of $600. Borrowers cannot possess greater than two outstanding loans from different lenders. There is no smallest loan amount.
- The minimum loan term is not set, the maximum loan term length is 31 days. In California, borrowers may not rollover their loans.
- The fees and charges are different for each money lender. The service costs enacted by lenders on each loan or transaction are not considered interest. The service fees apply to each $100 borrowed and can vary between 11-15%.
- An interest rate is required to be mutually settled upon. APR can be as high as 369%.
Will Payday Lenders in Modesto, CA, Run Credit Checks? What If I Have Dismal/No Credit History At All?
Yes, the lenders we have a relationship with will run 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 show that you are able to pay back the loan. Lenders are generally unconcerned about your credit history if you have proof of income and a strategy to repay the loan.
Lenders will perform 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 pull, alternatively, requires your explicit consent. These credit checks are done for a variety of purposes, such as mortgages, credit card applications, and more.
You may still qualify for a payday loan with bad credit in Modesto, CA, provided that you have proof of repayment.
Therefore, when you apply, albeit in person or online, double check that you have your income information easily accessible and any other documents showing that you can repay the loan. The more proof you have, the better chance you are to be approved.
When Will I See My Cash in Modesto, CA?
When you get your cash truly relies on the lender as some lenders provide same-day paycheck advance loans, which means you will get your payday loan on the same day you submit your application, as long as you get an approval.
Most of the time, however, lenders will give 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 may not receive your loan until Monday.
If you're wanting a same-day payday loan in Modesto, California, you will need to ensure you're applying by 10:30 am. All same-day loans going out that day will be approved by that time. However, you should submit an application earlier than that if able, as it will increase the likelihood that you get your deposit on the day that you apply.
One more consideration that you should be aware of is despite if the money lender approves your application and posts the deposit to your checking account, sometimes the bank won't release that loan immediately. It's vital that you let your bank know that you plan to receive a payday advance loan, so they might make an exception in releasing the loan earlier.
On the whole, it's wise to prepare in advance to receive money on the following business day. That way, you're not left in the lurch if you cannot get it on the same day.
Consider Borrowing From PaydayLoanRadar
If you have bad credit or no credit and are looking to get a payday advance loan, think about applying with us, as you frequently have a better chance of approval.
We partner with more than one hundred different lenders who offer their services online. Frequently you will receive your deposit on the next business day so ensure that you plan accordingly.
However, you can always find the nearest payday advance loan store to you and apply in person to increase the chances of seeing your money on the same day. When applying in person, make sure that you have your government ID or driver's license; a passport is sufficient. Sometimes, lenders may ask for proof of address, so take along a utility bill to the store as well.
To locate the nearest payday loan storefront, please navigate to the list below and find your city.
Payday Loan Direct Lender Companies in Modesto, CA
Below you will find a list of payday loan companies offering their services in Modesto, California. If you can't find a lender near your location in Modesto, 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 Modesto, 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.