Payday Loans in Santa Maria, California
Events happen, and we often find ourselves in a place where we have to pay for some unforeseen costs. Consider applying for a payday loan in Santa Maria, California, to see if you qualify.
The loan request process is fast and simple. To qualify, loan borrowers must meet a couple of basic criteria.
What is a Payday Loan? What Can It Be Used For?
A payday advance loan is where the borrower will be extended a small amount of money on a short-term basis. This is deemed to be an unsecured loan as no collateral is required.
When unexpected bills arise, such as late rent or utility payments, auto costs, medical or vet fees, and so on, individuals usually rely upon cash advance loans.
Paycheck Advance Loan Stipulations In Santa Maria, CA
In Santa Maria, California, payday advance loan borrowers need to meet several stipulations to qualify for a loan.
The borrower is required to:
- Provide proof that they are a resident of Santa Maria, California
- Must be 18 or older
- Have an income that they can prove that's at least $1,000 per month
- Provide up-to-date contact details such as phone number and email address
- Give their SSN
If a borrower does not meet the above criteria, they will immediately be denied a payday advance loan. Make sure you possess the documents needed when requesting a loan.
Laws and Rules Regarding Payday Loans in Santa Maria, California
The State of California has ruled payday lending legal. However, they have put forth the below rules and regulations for the payday advance lending market:
- An individual lender cannot offer a loan greater than $600. Borrowers may not take out greater than two unpaid 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 may not rollover their loans.
- The fees and charges are different for each loan lender. The service costs charged by lenders on each loan or transaction do not fall under interest. The service fees apply to every $100 loaned and can range between 11-15%.
- An interest rate must be mutually agreed upon. APR can be as high as 369%.
Will Payday Lenders in Santa Maria, California, Perform Credit Checks? What If I Have Bad/No Credit History At All?
Yes, the lenders we work with will do a credit check on you, but, even if you have no credit or less than stellar credit, you might still be eligible for a loan provided you can prove that you can repay the loan. Lenders are generally unbothered by your credit if you have proof of income and a plan to repay the loan.
Lenders will perform a soft credit inquiry, which will not impact your credit score. This is solely to get a feel of your credit history and basic information.
A hard credit check, alternatively, requires your explicit consent. These credit checks are done for various purposes, such as mortgages, credit card applications, and more.
You may still qualify for a payday advance loan with bad credit in Santa Maria, California, provided that you can prove you will repay the loan.
Therefore, when you apply for a loan, albeit in person or online, double check that you have your income information easily accessible and any other documents proving that you can repay the loan. The more evidence you provide, the more likely your loan request will be granted.
When Will I See My Loan in Santa Maria, CA?
When you get your loan really relies on your lender as some lenders advertise same-day cash advance loans, which means you will see your payday advance loan on the same day you apply, as long as you get an approval.
Much of the time, though, lenders will give the borrower their lump sum on the following business day. Businesses usually close for holidays and weekends. Because of this, if you submit your application on a Friday, you might not get your money until Monday.
If you're wanting a same-day paycheck advance loan in Santa Maria, CA, you will need to make sure you're applying by 10:30 am. All same-day funds going out that day will be approved by that time. However, you should request a loan earlier than that if possible, as it will increase the likelihood that you receive your loan on the same day that you submit your application.
One more consideration that you should know is despite if the lender approves your application and posts the loan to your bank account, sometimes the bank won't release that deposit at that time. It's paramount that you let your bank know that you plan to receive a payday loan, so they might make an exception in releasing the deposit earlier.
Overall, it's best to prepare ahead of time to get cash on the next business day. That way, you're not surprised if you cannot receive it on the same day.
Consider Borrowing From Us
If you have less than great credit or no credit and are needing to secure a cash advance loan, think about applying with us, as you probably have a better chance of approval.
We partner with more than one hundred different lenders who provide their services online. Much of the time you will get your loan on the following business day so make sure that you plan appropriately.
Although, you can always find the nearest payday advance loan storefront to you and apply in person to increase the chances of getting your funds on the same business day. When submitting an application in person, make sure that you have your government ID or driver's license; a passport is sufficient. Occasionally, lenders may require proof of address, so bring a utility bill to the store as well.
To find the nearest cash advance loan store, please use the list below and locate your city.
Payday Loan Direct Lender Companies in Santa Maria, CA
Below you will find a list of payday loan companies offering their services in Santa Maria, California. If you can't find a lender near your location in Santa Maria, 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 Santa Maria, 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.