Payday Loans in Petaluma, California
Events happen, and we often end up in a spot where we have to pay for some unforeseen bills. Think about submitting an application for a cash advance loan in Petaluma, California, to see if you meet the requirements.
The loan request process is quick and simple. To be eligible, you must satisfy a couple of simple requirements.
What is a Cash Advance Loan? What Can It Pay For?
A payday advance loan is where the borrower will be extended a petite sum of cash on a short-term agreement. This is deemed to be an unsecured personal loan because no collateral is needed.
When surprise financial needs present themselves, such as missed rent or utility fees, auto costs, health or vet expenditures, and so on, people often turn to payday advance loans.
Payday Loan Requirements In Petaluma, California
In Petaluma, California, cash advance loan borrowers are required to meet a few requirements to qualify for a loan.
The borrower has to:
- Prove that they are a resident of Petaluma, CA
- Must be at least 18
- Receive an income that they can prove that's at least $1,000 per month
- Give current contact details such as cell phone number and email address
- Give their social security number
If a borrower does not meet the above requirements, they will automatically be denied a payday loan. Ensure that you have the documentation required when submitting your application.
Laws and Rules Regarding Cash Advance Loans in Petaluma, CA
The State of California has ruled payday lending legal. Although, they have created the following rules and laws for the paycheck advance lending market:
- A single lender can't extend a loan for more than $600. Borrowers may not have more than two outstanding loans from different lenders. There is no smallest loan amount.
- The minimum loan term is not determined, 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 enacted by the lender on a loan are not considered interest. The service fees apply to each $100 loaned and can vary from 11% up to 15%.
- An interest rate is required to be mutually decided upon. APR can range up to 369%.
Will Payday Advance Lenders in Petaluma, CA, Perform Credit Checks? What If I Have Dismal/No Credit History At All?
Yes, the lenders we work with will perform a credit check on you, still, even if you possess no credit or less than optimal credit, you may still be eligible for a loan as long as you can show that you are able to pay back the loan. Lenders are typically unbothered by your credit history if you have proof of income and a strategy to repay the loan.
Lenders will conduct a soft credit check, which will not impact your credit score. This is only to get an idea of your credit history and basic information.
A hard credit check, dissimilarly, requires your permission. These credit inquiries are done for a variety of purposes, such as mortgages, credit card applications, and more.
You can still qualify for a payday advance loan with poor credit in Petaluma, California, as long as you have proof of repayment.
So, when you apply, whether it is 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 more likely your loan request will be granted.
When Will I Receive My Money in Petaluma, CA?
When you see your funds really depends on the lender as some lenders offer same-day payday loans, which means you will receive your payday advance loan on the same day you apply, as long as you're approved.
Most of the time, however, lenders will give the borrower their lump sum on the next business day. Businesses typically close for holidays and weekends. Because of this, if you submit your application on a Friday, you may not receive your funds until Monday.
If you're needing a same-day payday advance loan in Petaluma, CA, you will need to ensure you're applying by 10:30 am. Any and all same-day deposits going out that day will be approved by that cut-off. However, you should apply earlier than that if able, as it will increase the likelihood that you get your funds on the same day that you submit your application.
One more factor that you should know is even if the money lender grants your loan request and posts the funds to your checking account, sometimes the bank won't release that credit immediately. It's important to let your bank know that you plan to receive a cash advance loan, so they might make an exception in releasing the cash earlier.
Overall, it's wise to prepare in advance to receive cash on the next business day. That way, you're not out of luck if you cannot receive it on the same day.
Consider Borrowing From PaydayLoanRadar
If you have bad credit or no credit and are wanting to secure a payday loan, think about applying through us, as you usually have a higher chance of approval.
We work with hundreds of different lenders who provide their services online. Much of the time you will get your funds on the following business day so make sure that you plan correctly.
Although, you can always locate the closest cash advance loan storefront to you and apply in person to increase the chances of getting your cash on the same day. When submitting an application in person, ensure that you have your government ID or driver's license; a passport is sufficient. Sometimes, lenders may require proof of address, so bring a utility bill to the store too.
To find the nearest payday loan store, please refer to the list below and locate your city.
Payday Loan Direct Lender Companies in Petaluma, CA
Below you will find a list of payday loan companies offering their services in Petaluma, California. If you can't find a lender near your location in Petaluma, 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 Petaluma, 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.