Payday Loans in Pasadena, California
Events happen, and we usually end up in a situation where we must cover some unexpected bills. Consider submitting an application for a payday advance loan in Pasadena, CA, to see if you are eligible.
The loan process is swift and painless. To qualify, you must satisfy a couple of basic criteria.
What is a Paycheck Advance Loan? What Can It Be Used For?
A paycheck advance loan is where the borrower will get a small sum of money on a short-term contract. This is considered an unsecured loan due to the fact that no collateral is needed.
When unexpected costs arise, like past due rent or utility bills, car fees, health or vet fees, and so on, individuals often rely upon payday loans.
Paycheck Advance Loan Requirements In Pasadena, California
In Pasadena, CA, cash advance loan borrowers are required to satisfy a few criteria to qualify for a loan.
The borrower must:
- Prove that they live in Pasadena, California
- Must be 18 years old
- Receive an income that they can provide proof of being at least $1,000/month
- Give active contact information including phone number and email address
- Provide their SSN
If a borrower does not satisfy the above requirements, they will automatically be denied a payday loan. Make sure you can provide the documentation needed when applying for a loan.
Laws and Regulations Regarding Paycheck Advance Loans in Pasadena, CA
The State of California has ruled paycheck advance lending legal. However, they have set the below rules and regulations for the paycheck advance lending industry:
- An individual money lender cannot extend a loan for more than $600. Borrowers may not have more than two unpaid loans from different lenders. There is no minimum loan amount.
- There is no minimum loan term, the longest loan term length is 31 days. In California, borrowers are unable to rollover their loans.
- The fees and charges vary for each money lender. The service fees enacted by lenders on a payday loan are not considered interest. The service fees apply to every $100 borrowed and can vary from 11% up to 15%.
- An interest rate must be mutually agreed upon. APR can range up to 369%.
Will Paycheck Advance Lenders in Pasadena, CA, Perform Credit Checks? What If I Have Dismal/No Credit History At All?
Yes, the lenders we have a relationship with will do a credit check on you, still, even if you have no credit or less than stellar credit, you may still be approved for a loan provided you can show that you are able to repay the loan. Lenders are commonly unconcerned about your credit if you have proof of income and a strategy to repay the loan.
Lenders will rely on a soft credit pull, which will not impact your credit score. This is only to get a look at your credit history and general information.
A hard credit pull, dissimilarly, must have your explicit consent. These credit pulls are utilized for various purposes, such as mortgages, credit card applications, and more.
You can still qualify for a cash advance loan with poor credit in Pasadena, CA, provided that you have proof of repayment.
Therefore, when you apply, albeit in person or online, make sure that you have your income information ready and any other documents verifying that you can pay back the loan. The more proof you possess, the better chance your loan application will be approved.
When Will I Get My Funds in Pasadena, CA?
When you see your cash truly relies on the lender as some lenders provide same-day cash advance loans, which means you will get your payday loan on the same day you request a loan, as long as you receive an approval.
Much of the time, however, 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 might not see your deposit until Monday.
If you're needing a same-day paycheck advance loan in Pasadena, CA, you will need to ensure you're applying by 10:30 am. All same-day funds going out that day will be approved by that cut-off. However, you should request a loan earlier than that if possible, as it will boost the likelihood that you see your cash on the day that you apply.
One more consideration that you should be aware of is despite if the lender approves your application and posts the credit to your checking account, sometimes the bank won't release that loan right away. It's paramount that you let your bank know that you plan to get a payday advance loan, so they could possibly make an exception in releasing the loan earlier.
On the whole, it's wise to prepare ahead of time to receive cash on the next business day. That way, you're not surprised if you cannot receive it on the same day.
Consider Working With Us
If you possess poor credit or no credit and are looking to get a paycheck advance loan, think about applying through us, as you most likely have a higher chance of approval.
We work with over one hundred different lenders who offer their services online. Most of the time you will receive your money on the next business day so ensure that you plan accordingly.
Although, you can always find the closest payday loan store to you and apply in person to strengthen the chances of seeing your cash on the same business day. When applying in person, ensure that you have your government ID or driver's license; a passport will work as well. Occasionally, lenders may require proof of address, so bring a utility bill to the store as well.
To find the nearest paycheck advance loan store, please use the list below and locate your city.
Payday Loan Direct Lender Companies in Pasadena, CA
Below you will find a list of payday loan companies offering their services in Pasadena, California. If you can't find a lender near your location in Pasadena, 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 Pasadena, 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.