Payday Loans in Clinton, Illinois
Life happens, and we often end up in a place where we must pay for some unexpected bills. Think about applying for a payday advance loan in Clinton, Illinois, to see if you qualify.
The loan application process is swift and painless. To qualify, borrowers have to meet a couple of general criteria.
What is a Cash Advance Loan? What Can It Pay For?
A payday loan is where the borrower will receive a petite sum of cash on a short-term basis. This is thought of as an unsecured loan due to the fact that no collateral is needed.
When surprise expenses come up, like past due rent or utility expenditures, auto fixes, medical or vet payments, and so on, people usually turn to cash advance loans.
Cash Advance Loan Requirements In Clinton, IL
In Clinton, Illinois, paycheck advance loan borrowers are required to meet a few criteria to qualify for a loan.
The borrower is required to:
- Provide proof that they reside in Clinton, Illinois
- Must be 18 years old
- Have an income that they can provide proof of being at least $1,000 per month
- Provide current contact details such as cell phone number and email address
- Give their SSN
If a borrower does not abide by the above rules, they will immediately be denied a payday loan. Make sure you have the documentation required when requesting a loan.
Laws and Rules Concerning Payday Loans in Clinton, IL
The State of Illinois has ruled payday lending legal. However, they have put forth the following rules and regulations for the cash advance lending market:
- An individual money lender can't extend a loan greater than $600. Borrowers may not possess greater than two outstanding loans from different lenders. There is no minimum loan amount.
- There is no minimum loan term, the longest loan term length is 31 days. In Illinois, borrowers are unable to 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 every $100 borrowed and can range between 11-15%.
- An interest rate must be mutually decided upon. APR can be as high as 369%.
Will Payday Advance Lenders in Clinton, IL, Complete Credit Checks? What If I Have Dismal/No Credit History At All?
Yes, the lenders we partner with will do a credit check on you, but, even if you have no credit or bad credit, you might still be approved for a loan given that you can show that you are able to pay back the loan. Lenders are generally unbothered by your credit if you offer proof of income and a strategy to pay back the loan.
Lenders will conduct a soft credit pull, which will not impact your credit score. This is simply to get a feel of your credit history and basic information.
A hard credit check, dissimilarly, needs your explicit consent. These credit inquiries are used for various purposes, including mortgages, credit cards, and more.
You might still be approved for a paycheck advance loan with bad credit in Clinton, Illinois, provided that you can prove you will repay the loan.
Therefore, when you request a loan, whether it is in person or online, ensure that you have your income information ready and any other documents showing that you can repay the loan. The more evidence you provide, the better chance your loan application will be approved.
When Will I Receive My Loan in Clinton, Illinois?
When you receive your deposit really depends on the lender as some lenders advertise same-day cash advance loans, which means you will get your cash advance loan on the same day you apply, as long as you receive an approval.
Most of the time, however, lenders will send the borrower their lump sum on the following business day. Businesses often close for holidays and weekends. Because of this, if you submit your application on a Friday, you may not see your deposit until Monday.
If you're searching for a same-day payday loan in Clinton, Illinois, you will need to make sure you're applying by 10:30 am. Any and all same-day loans 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 increase the likelihood that you receive your cash on the same day that you submit your application.
One other consideration that you should understand is even if the lender approves your application and posts the credit to your bank, occasionally the bank won't release that credit immediately. It's paramount that you let your bank know that you plan to get a cash advance loan, so they might make an exception in releasing the deposit earlier.
On the whole, it's wise to prepare in advance to receive your funds on the next business day. That way, you're not left in the lurch if you cannot receive it on the same day.
Think About Borrowing From Us
If you possess less than great credit or no credit and are looking to secure a payday advance loan, consider applying with us, as you frequently have a better chance of approval.
We work with more than one hundred different lenders who offer their services online. Much of the time you will see your deposit on the following business day so make sure that you plan appropriately.
However, you can always locate the closest paycheck advance loan store to you and apply in person to boost the chances of getting your cash on the same business day. When requesting a loan 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 cash advance loan storefront, please navigate to the list below and find your city.
Payday Loan Direct Lender Companies in Clinton, IL
Below you will find a list of payday loan companies offering their services in Clinton, Illinois. If you can't find a lender near your location in Clinton, consider applying in a nearby city in Illinois. 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 Clinton, 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.