Payday Loans in Crete, Illinois
Events happen, and we often find ourselves in a situation where we must cover some unexpected expenses. Think about submitting an application for a cash advance loan in Crete, IL, to see if you qualify.
The loan application process is swift and straightforward. To qualify, borrowers must satisfy a few simple requirements.
What is a Paycheck Advance Loan? What Can It Be Used For?
A cash advance loan is where the borrower will receive a petite sum of money on a short-term contract. This is deemed to be an unsecured loan because no collateral is expected.
When unforeseen financial needs present themselves, like late rent or utility costs, auto repairs, health or vet fees, and so forth, individuals commonly turn to payday advance loans.
Paycheck Advance Loan Criteria In Crete, IL
In Crete, Illinois, payday advance loan borrowers must satisfy a few requirements to be eligible for a loan.
The borrower must:
- Show proof that they live in Crete, IL
- Must be 18 or older
- Have an income that they can prove that's at least $1,000/month
- Give current contact details such as phone number and email address
- Provide their SSN
If a borrower does not meet the above criteria, they will immediately be denied a payday advance loan. Make sure you have the documentation needed when requesting a loan.
Laws and Regulations Concerning Paycheck Advance Loans in Crete, IL
Illinois has deemed payday lending legal. Still, they have put forth the below rules and laws for the payday lending market:
- A single money lender cannot offer a loan in excess of $600. Borrowers are not allowed to have greater than two outstanding 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 Illinois, borrowers are unable to rollover their loans.
- The fees and charges change for each lender. The service costs charged by lenders on a cash advance loan do not fall under interest. The service fees apply to every $100 loaned and can vary between 11-15%.
- An interest rate must be mutually agreed upon. APR can be as much as 369%.
Will Payday Advance Lenders in Crete, Illinois, Perform Credit Checks? What If I Have Dismal/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 dismal credit, you might still be approved for a loan as long as you can prove that you are able to pay back the loan. Lenders are commonly unbothered by your credit history if you provide proof of income and a plan to repay the loan.
Lenders will perform a soft credit pull, which will have no impact on your credit score. This is only to get a feel of your credit history and basic information.
A hard credit pull, on the other hand, must have your permission. These credit inquiries are performed for various purposes, such as mortgages, credit cards, and more.
You might still qualify for a cash advance loan with poor credit in Crete, IL, if you can prove you will repay the loan.
So, when you apply, 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 show, the better chance your loan application will be approved.
When Will I Get My Money in Crete, IL?
When you see your deposit really relies on the lender as some lenders advertise same-day payday loans, which means you will see your payday loan on the same day you apply, as long as you're approved.
Much of the time, though, lenders will send the borrower their lump sum on the next business day. Businesses generally close for holidays and weekends. Therefore, if you submit your application on a Friday, you may not see your funds until Monday.
If you're wanting a same-day payday loan in Crete, IL, you will need to be sure that you're applying by 10:30 am. Any and all same-day payments going out that day will be approved by that time. However, you should submit an application earlier than that if possible, as it will boost the likelihood that you receive your funds on the same day that you apply.
One other factor that you should be aware of is despite if the lender approves your application and posts the loan to your bank, sometimes the bank won't release that deposit immediately. It's important to 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 ahead of time to get your loan on the following business day. That way, you're not out of luck if you cannot receive it on the same day.
Think About Working With Us
If you possess underwhelming credit or no credit and are looking to get a payday advance loan, consider applying through us, as you usually have a higher chance of approval.
We work with more than one hundred different lenders who offer their services online. Much of the time you will get your deposit on the following business day so ensure that you plan correctly.
Although, you can always locate the nearest payday loan store to you and apply in person to boost the chances of seeing your money on the same 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 request proof of address, so bring a utility bill to the store too.
To find the nearest cash advance loan store, please navigate to the list below and locate your city.
Payday Loan Direct Lender Companies in Crete, IL
Below you will find a list of payday loan companies offering their services in Crete, Illinois. If you can't find a lender near your location in Crete, 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 Crete, 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.