Payday Loans in Oakland, California
Life happens, and we usually end up in a situation where we have to cover some surprise bills. Think about submitting an application for a payday advance loan in Oakland, California, to see if you meet the requirements.
The loan application process is quick and painless. To be qualified, you must satisfy a couple of basic criteria.
What is a Cash Advance Loan? What Can It Be Used For?
A payday advance loan is where the borrower will receive a small amount of money on a short-term basis. This is thought of as an unsecured loan because no collateral is required.
When unforeseen bills present themselves, such as past due rent or utility expenditures, auto fees, medical or vet bills, and so forth, people often rely upon payday loans.
Paycheck Advance Loan Criteria In Oakland, California
In Oakland, California, payday advance loan borrowers need to satisfy several requirements to be eligible for a loan.
The borrower has to:
- Prove that they live in Oakland, CA
- Must be 18 or older
- Have an income that they can provide proof of being at least $1,000/month
- Give active contact information including cell phone number and email address
- Provide their SSN
If a borrower does not abide by the above rules, they will immediately be denied a payday loan. Make sure you possess the documents required when applying.
Laws and Rules Regarding Payday Loans in Oakland, California
California has deemed paycheck advance lending legal. However, they have enacted the below rules and regulations for the payday advance lending market:
- An individual lender can't extend a loan greater than $600. Borrowers may not take out greater than two active loans from different lenders. There is no smallest loan amount.
- There is no minimum loan term, the longest loan term length is 31 days. In the State of California, borrowers cannot rollover their loans.
- The fees and charges vary for each lender. The service fees charged by lenders on a loan do not fall under interest. The service fees apply to every $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 Paycheck Advance Lenders in Oakland, California, Run Credit Checks? What If I Have Bad/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 bad credit, you may still be approved for a loan given that you can prove that you are able to pay back the loan. Lenders are commonly unbothered by your credit if you possess proof of income and a plan to pay back the loan.
Lenders will perform a soft credit inquiry, which will not impact your credit score. This is simply to get a feel of your credit history and basic information.
A hard credit check, dissimilarly, requires your explicit consent. These credit checks are performed for various purposes, including mortgages, credit cards, and more.
You might still qualify for a paycheck advance loan with poor credit in Oakland, CA, provided that you have proof of repayment.
So, when you apply, whether it is in person or online, double check that you have your income information at hand and any other documents proving that you can pay back the loan. The more proof you provide, the better chance your loan application will be approved.
When Will I Get My Loan in Oakland, California?
When you see your loan really depends on the lender as some lenders advertise same-day payday loans, which means you will receive your paycheck advance loan on the same day you apply, as long as you're approved.
Much of the time, though, lenders will send the borrower their lump sum on the next business day. Businesses generally close for holidays and weekends. So, if you submit your application on a Friday, you may not see your funds until Monday.
If you're needing a same-day payday advance loan in Oakland, 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 deadline. However, you should submit an application earlier than that if possible, as it will boost the likelihood that you receive your money on the day that you apply.
One more factor 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 credit right away. It's paramount that you let your bank know that you plan to receive a payday loan, so they could possibly make an exception in releasing the cash earlier.
On the whole, it's wise to prepare in advance to receive your funds on the next business day. That way, you're not left in the lurch if you cannot receive it on the same day.
Consider Working With PaydayLoanRadar
If you have underwhelming credit or no credit and are needing to secure a paycheck advance loan, consider applying through us, as you most likely have a higher chance of approval.
We partner with hundreds of different lenders who offer their services online. Most of the time you will get your funds on the following business day so ensure that you plan appropriately.
However, you can always locate the closest payday loan store to you and apply in person to boost the chances of getting your money on the same business day. When submitting an application in person, ensure 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 as well.
To locate the nearest payday advance loan storefront, please use the list below and locate your city.
Payday Loan Direct Lender Companies in Oakland, CA
Below you will find a list of payday loan companies offering their services in Oakland, California. If you can't find a lender near your location in Oakland, 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 Oakland, 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.