Payday Loans in Pomona, California
Life happens, and we usually wind up in a spot where we must cover some unexpected bills. Consider submitting an application for a cash advance loan in Pomona, California, to see if you meet the requirements.
The application process is quick and straightforward. To be eligible, borrowers must meet a couple of general requirements.
What is a Payday Loan? What Can It Pay For?
A paycheck advance loan is where the borrower will be extended a petite sum of funds on a short-term agreement. This is thought of as an unsecured loan because no collateral is needed.
When unexpected expenses come up, for example missed rent or utility costs, auto repairs, health or vet bills, and so on, people often rely upon paycheck advance loans.
Paycheck Advance Loan Stipulations In Pomona, California
In Pomona, CA, paycheck advance loan borrowers are required to satisfy a few criteria to qualify for a loan.
The borrower must:
- Provide proof that they reside in Pomona, CA
- Must be 18 years old
- Have a steady income that they can prove that's at least $1,000 per month
- Give current contact details including cell phone number and email address
- Give their SSN
If a borrower does not satisfy the above rules, they will automatically be denied a payday loan. Make sure you have the documents required when applying.
Laws and Rules Regarding Paycheck Advance Loans in Pomona, CA
The State of California has deemed payday advance lending legal. However, they have enacted the below rules and laws for the payday advance lending industry:
- An individual lender can't offer a loan greater than $600. Borrowers may not take out 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 are not allowed to rollover their loans.
- The fees and charges are different for each lender. The service costs charged by the lender on a loan do not fall under interest. The service fees apply to each $100 loaned and can vary from 11% up to 15%.
- An interest rate must be mutually settled upon. APR can be as much as 369%.
Will Cash Advance Lenders in Pomona, CA, Perform Credit Checks? What If I Have Poor/No Credit History At All?
Yes, the lenders we have a relationship with will do a credit check on you, but, even if you have no credit or less than optimal credit, you might still be eligible for a loan given that you can prove that you can pay back the loan. Lenders are typically unconcerned about your credit history if you provide proof of income and a strategy to repay the loan.
Lenders will rely on a soft credit check, which will have no impact on your credit score. This is only to get a look at your credit history and basic information.
A hard credit pull, dissimilarly, must have your permission. These credit inquiries are utilized for various purposes, such as mortgages, credit card applications, and more.
You may still qualify for a cash advance loan with imperfect credit in Pomona, CA, if you have proof of repayment.
So, when you request a loan, albeit in person or online, double check that you have your income information at hand and any other documents proving that you can repay the loan. The more proof you show, the more likely your loan request will be granted.
When Will I See My Deposit in Pomona, California?
When you see your deposit truly relies on the lender as some lenders provide same-day cash advance loans, which means you will see your payday advance loan on the same day you request a loan, as long as you receive an approval.
Much of the time, though, lenders will give the borrower their lump sum on the next business day. Businesses generally close for holidays and weekends. So, if you apply on a Friday, you may not get your cash until Monday.
If you're wanting a same-day payday loan in Pomona, CA, you will need to make sure you're applying by 10:30 am. Any and all same-day payments going out that day will be approved by that cut-off. However, you should submit an application earlier than that if possible, as it will boost the likelihood that you see your deposit on the day that you apply.
One other consideration that you should know is even if the lender grants your loan request and posts the deposit to your checking account, sometimes the bank won't release that credit at that time. It's important to let your bank know that you plan to get a paycheck advance loan, so they could possibly make an exception in releasing the cash earlier.
On the whole, it's wise to prepare in advance to get your loan 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 possess less than great credit or no credit and are needing to secure a paycheck advance loan, consider applying with us, as you usually have a better chance of approval.
We work with more than one hundred different lenders who offer their services online. Most of the time you will receive your deposit on the next business day so ensure that you plan appropriately.
However, you can always locate the nearest payday advance loan storefront to you and apply in person to strengthen the chances of getting your funds on the same business day. When applying in person, ensure that you have your government ID or driver's license; a passport is sufficient. Now and again, lenders may ask for proof of address, so take along a utility bill to the store as well.
To find the nearest payday advance loan store, please refer to the list below and locate your city.
Payday Loan Direct Lender Companies in Pomona, CA
Below you will find a list of payday loan companies offering their services in Pomona, California. If you can't find a lender near your location in Pomona, 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 Pomona, 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.