Payday Loans in Simi Valley, California
Events happen, and we usually find ourselves in a situation where we have to pay for some unexpected expenses. Think about applying for a cash advance loan in Simi Valley, California, to see if you meet the requirements.
The loan application process is fast and painless. To be qualified, borrowers have to satisfy a few general conditions.
What is a Paycheck Advance Loan? What Can It Be Used For?
A payday 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 as no collateral is required.
When unexpected bills present themselves, for example late rent or utility expenditures, car fees, health or vet fees, and so forth, individuals often rely upon payday advance loans.
Payday Loan Criteria In Simi Valley, California
In Simi Valley, CA, payday loan borrowers need to satisfy a few stipulations to be eligible for a loan.
The borrower is required to:
- Prove that they are a resident of Simi Valley, California
- Must be at least 18
- Have a steady income that they can prove that's at least $1,000 per month
- Provide up-to-date contact information including cell phone number and email address
- Give their social security number
If a borrower does not satisfy the above rules, they will automatically be denied a paycheck advance loan. Ensure that you can provide the documents needed when applying.
Laws and Regulations Concerning Cash Advance Loans in Simi Valley, CA
California has ruled cash advance lending legal. Still, they have put forth the below rules and regulations for the paycheck advance lending industry:
- A single money lender cannot offer a loan in excess of $600. Borrowers may not have more than two active loans from different lenders. There is no minimum loan amount.
- There is no minimum loan term, the maximum loan term length is 31 days. In the State of California, borrowers cannot rollover their loans.
- The fees and charges vary for each money lender. The service fees charged by the lender on a loan are not considered interest. The service fees apply to each $100 loaned and can range from 11% up to 15%.
- An interest rate must be mutually decided upon. APR can range up to 369%.
Will Cash Advance Lenders in Simi Valley, California, Run Credit Checks? What If I Have Bad/No Credit History At All?
Yes, the lenders we work with will run a credit check on you, still, even if you possess no credit or less than stellar credit, you might still be eligible for a loan provided you can prove 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 plan to repay the loan.
Lenders will rely on a soft credit pull, which will have no impact on your credit score. This is simply to get a feel of your credit history and basic information.
A hard credit inquiry, on the other hand, must have your permission. These credit inquiries are performed for a plethora of purposes, such as mortgages, credit card applications, and more.
You can still qualify for a paycheck advance loan with less than great credit in Simi Valley, California, if you have proof of repayment.
Therefore, when you request a loan, albeit in person or online, make sure that you have your income information available and any other documents verifying that you can repay the loan. The more evidence you provide, the more likely your loan application will be approved.
When Will I Get My Cash in Simi Valley, California?
When you get your funds really depends on the lender as some lenders advertise same-day paycheck advance loans, which means you will receive your cash advance loan on the same day you request a loan, as long as you're approved.
Much of the time, however, lenders will give the borrower their lump sum on the next business day. Businesses often close for holidays and weekends. So, if you submit your application on a Friday, you may not get your money until Monday.
If you're needing a same-day paycheck advance loan in Simi Valley, CA, you will need to be sure that you're applying by 10:30 am. Any and all same-day funds going out that day will be approved by that cut-off. However, you should apply earlier than that if possible, as it will boost the likelihood that you get your funds on the day that you apply.
One additional factor that you should know is even if the money lender approves your application and posts the credit to your bank, occasionally the bank won't release that credit immediately. It's vital that you let your bank know that you plan to get a cash 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 get your deposit on the following business day. That way, you're not out of luck if you cannot get it on the same day.
Think About Borrowing From Us
If you have less than great credit or no credit and are searching to secure a payday advance loan, think about applying through us, as you frequently have a higher chance of approval.
We work with more than one hundred different lenders who offer their services online. Frequently you will see your cash on the following business day so make sure that you plan accordingly.
However, you can always find the closest paycheck advance loan store to you and apply in person to increase the chances of receiving your funds on the same day. When requesting a loan in person, make sure that you have your government ID or driver's license; a passport is sufficient. Now and again, lenders may require proof of address, so bring a utility bill to the store too.
To locate the nearest paycheck advance loan store, please use the list below and search for your city.
Payday Loan Direct Lender Companies in Simi Valley, CA
Below you will find a list of payday loan companies offering their services in Simi Valley, California. If you can't find a lender near your location in Simi Valley, 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 Simi Valley, 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.