Payday Loans in Granite City, Illinois
Life happens, and we usually wind up in a spot where we must pay for some surprise expenses. Consider submitting an application for a cash advance loan in Granite City, Illinois, to see if you meet the requirements.
The loan process is quick and simple. To be eligible, loan borrowers must satisfy a few straightforward criteria.
What is a Payday Loan? What Can It Cover?
A payday loan is where the borrower will get a petite amount of cash on a short-term agreement. This is thought of as an unsecured personal loan as no collateral is required.
When surprise financial needs present themselves, such as late rent or utility costs, auto fees, health or vet fees, and so on, people frequently seek out payday advance loans.
Paycheck Advance Loan Stipulations In Granite City, IL
In Granite City, IL, cash advance loan borrowers are required to meet a few criteria to be eligible for a loan.
The borrower has to:
- Prove that they live in Granite City, Illinois
- Must be 18 or older
- Have a steady stream of income that they can prove that's at least $1,000/month
- Give current contact details such as phone number and email address
- Give their social security number
If a borrower does not meet the above rules, they will automatically be denied a cash advance loan. Ensure that you possess the documentation required when submitting your application.
Laws and Rules Regarding Payday Advance Loans in Granite City, Illinois
The State of Illinois has deemed paycheck advance lending legal. Still, they have set the following rules and laws for the paycheck advance lending industry:
- A single lender can't offer a loan greater than $600. Borrowers are not allowed to have more than two active loans from different lenders. There is no smallest loan amount.
- There is no minimum loan term, the longest loan term length is 31 days. In the State of Illinois, borrowers cannot rollover their loans.
- The fees and charges are different for each loan lender. The service fees enacted by the lender on a cash advance loan 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 settled upon. APR can be as much as 369%.
Will Payday Advance Lenders in Granite City, Illinois, Perform Credit Checks? What If I Have Dismal/No Credit History At All?
Yes, the lenders we work with will perform a credit check on you, still, even if you have no credit or bad credit, you may still be eligible for a loan given that you can prove that you are able to pay back the loan. Lenders are generally unbothered by your credit if you provide proof of income and a strategy to pay back the loan.
Lenders will conduct a soft credit check, which will not impact your credit score. This is simply to get a look at your credit history and general information.
A hard credit pull, on the other hand, requires your permission. These credit pulls are used for a variety of purposes, including mortgages, credit card applications, and more.
You might still qualify for a cash advance loan with poor credit in Granite City, Illinois, provided that you have proof of repayment.
Therefore, when you apply for a loan, albeit in person or online, double check that you have your income information at hand and any other documents verifying that you can pay back the loan. The more evidence you provide, the better chance you are to be approved.
When Will I See My Cash in Granite City, IL?
When you get your cash truly relies on the lender as some lenders offer same-day payday advance loans, which means you will get your cash advance loan on the same day you submit your application, as long as you're approved.
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. Therefore, if you apply on a Friday, you might not see your cash until Monday.
If you're needing a same-day cash advance loan in Granite City, Illinois, you will need to ensure you're applying by 10:30 am. Any and all same-day deposits 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 get your money on the same day that you apply.
One more consideration that you should be aware of is even if the money lender approves your application and posts the credit to your checking account, sometimes the bank won't release that deposit right away. 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 cash earlier.
Overall, it's wise to prepare ahead of time to receive your loan on the next business day. That way, you're not surprised if you cannot receive it on the same day.
Think About Borrowing From PaydayLoanRadar
If you have poor credit or no credit and are searching to get a paycheck advance loan, think about applying with us, as you most likely have a higher chance of approval.
We partner with over one hundred different lenders who offer their services online. Frequently you will get your funds on the next business day so make sure that you plan correctly.
However, you can always find the nearest paycheck advance loan store to you and apply in person to strengthen the chances of receiving your funds 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. Sometimes, lenders may request proof of address, so bring a utility bill to the store too.
To locate the nearest payday loan store, please refer to the list below and search for your city.
Payday Loan Direct Lender Companies in Granite City, IL
Below you will find a list of payday loan companies offering their services in Granite City, Illinois. If you can't find a lender near your location in Granite City, 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 Granite City, 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.