Online Payday Loans in Idaho
We've all been there on occasion, where some unforeseen cost occurs be it vet fees, utility shutoff notices, or maybe an expense that we forgot about. In times such as this, you should request a payday advance loan in Idaho.
The application process for a payday loan is fast and effortless. Although, you do need to satisfy specific guidelines to make sure you're eligible.
What Exactly is a Payday Advance Loan And Why Is It Necessary?
A payday loan is when a person borrows a small amount of cash on a short-term basis that they're contracted to pay back with their next paycheck. This type of loan requires no collateral, which is why it's considered an unsecured loan.
Getting a cash advance loan will help cover emergency expenses that pop up such as auto bills, health costs, eviction notices, outstanding utility costs, and plenty more.
What Are The Requirements For Payday Advance Loans in the State of Idaho?
To be eligible for a payday loan in Idaho there are a few criteria the borrower has to meet to qualify, such as:
- Be 18+ years of age
- Possess the ability to provide a social security number
- Have proof of residence within Idaho
- Show proof of a steady income of at least $1,000 per month
- Provide an email address and phone number
- You cannot be bankrupt or in debt
The inability to abide by the standards above will lead to an automatic denial of your loan application. Always ensure that you possess the necessary documents on hand when requesting a loan.
Payday Loan Rules and Regulations in the State of Idaho
With cash advance loans come specific rules and laws dependent on the city. We've detailed a couple of these, specific to the state of Idaho:
- The maximum loan amount is $500 for a single payment back and $1,000 for multiple installments
- APR is 304%
- The state of Idaho does not agree to rollovers therefore the loans must be repaid within the agreed upon time frame
There are distinct time frames for single payment loans and multiple installment loans.
- The borrower has 7 days to pay back a single-payment loan
- For multiple installment loans, the borrower has 60 days to post payment
- The borrower will get no longer than 31 days to repay a single-payment loan
- 90 days will be allotted to the borrower for payback on a multiple installment loan
Do Payday Loan Lenders Review Credit History?
Lenders will run a credit inquiry, but it's not the usual credit inquiry you may be thinking of. They will run what's called a soft credit check which verifies your basic information as well as your overall credit history.
The soft credit check won't impact your credit, whereas a hard credit pull will. Although, this needs your permission and is typically only used for rental applications, credit cards, auto loans, and more.
Can I Receive a Cash Advance Loan with Less Than Perfect Credit in Idaho?
If you're worried because you have bad credit; don't! You can still qualify for a cash advance loan with dismal credit or no credit, in Idaho. If you have proof that you can pay the loan back, lenders usually aren't concerned with your credit rating.
Irregardless of if you apply online or at a payday lender storefront local to you, never go without your proof of regular income along with other documents showing that you're able to pay back the loan. With additional evidence, you boost the likelihood of approval.
When Will The Money Show Up In My Bank Account?
Typically, the majority of borrowers should expect that their money will show up in their bank account the next business day. Although, this depends on a few things such as:
- The time and day you apply
- Who you bank with
If you apply before 10:30 AM when you are going for a same-day cash advance loan in Idaho, it will increase the chance that you get your cash on the same day you apply. Obviously, only if you're approved.
Keep in mind that banks, as well as many other businesses, close during the weekends, and on holidays. So, if you request a loan the day before a holiday, or before the weekend, there's a chance your payment will be delayed.
Who Do You Bank With?
Another thing you'll want to pay attention to is who you bank with. Financial institutions have their own processes concerning releasing funds. Some may be fine releasing them the same day while others will use a 3 to 5 day holding period.
What you can do is notify your banker that you are applying for a cash advance loan so that they might make an exception on when to transfer the funds to your bank account. If they aren't able to offer an exception, you can ask them what their policy consists of so that you know for the future.
Cash Advance Application Process In the State of Idaho
The payday advance loan application process in Idaho is simple. It doesn't rely upon if you have no credit or even poor credit, you can still get approval. You don't need to leave your home if you want to apply through us online. Alternatively, you can locate your closest lender's storefront.
Regardless, whatever you pick, all you need is your general information such as your email address, phone number, social security number, etc.
Should you decide to go to your local lender at their storefront, ensure you have your government ID or passport to prove your identity. They might also require proof of address to verify you live in Idaho, as well as verification of income.
Consider Working With Us
We are an online service that offers payday advance loan applications online in Idaho. We are partnering with hundreds of direct lenders who provide services online. Plan to receive your cash advance by the next business day.
Alternatively, you can always search for the nearest cash advance loan storefront and apply in person. This might strengthen the likelihood that you receive your funds on the same business day provided that you apply prior to 10:30 AM.
To locate a payday loan storefront local to you, find your city on the list below:
If you need cash as soon as possible, consider applying in person instead of online. If approved, you will get your money almost immediately. Please find the list of cities in California to find the nearest payday loan storefront.