Payday Loans in Harvard, Illinois
Things happen, and we usually wind up in a situation where we have to cover some unforeseen costs. Consider applying for a payday loan in Harvard, IL, to see if you are eligible.
The loan application process is swift and painless. To qualify, loan borrowers must satisfy a few general conditions.
What is a Cash Advance Loan? What Can It Cover?
A payday loan is where the borrower will get a petite amount of money on a short-term basis. This is deemed to be an unsecured personal loan due to the fact that no collateral is expected.
When unexpected expenses present themselves, like past due rent or utility fees, auto fixes, health or vet payments, and so on, people commonly turn to paycheck advance loans.
Paycheck Advance Loan Stipulations In Harvard, IL
In Harvard, Illinois, payday advance loan borrowers need to satisfy a few criteria to be eligible for a loan.
The borrower must:
- Prove that they reside in Harvard, IL
- Must be at least 18
- Have a steady stream of income that they can provide proof of being at least $1,000/month
- Give up-to-date contact information including cell phone number and email address
- Give their SSN
If a borrower does not satisfy the above rules, they will automatically be denied a paycheck advance loan. Ensure that you have the documentation required when submitting your application.
Laws and Regulations Regarding Cash Advance Loans in Harvard, IL
The State of Illinois has ruled paycheck advance lending legal. Although, they have put forth the following rules and laws for the payday lending market:
- A single lender cannot extend a loan for more than $600. Borrowers are not allowed to have greater than two outstanding loans from different lenders. There is no minimum loan amount.
- The minimum loan term is not determined, 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 lender. The service costs charged by lenders on a cash advance loan do not fall under interest. The service fees apply to every $100 borrowed and can vary from 11% up to 15%.
- An interest rate is required to be mutually settled upon. APR can range up to 369%.
Will Paycheck Advance Lenders in Harvard, Illinois, Perform Credit Checks? What If I Have Dismal/No Credit History At All?
Yes, the lenders we have a relationship with will complete a credit check on you, still, even if you have no credit or less than optimal credit, you might still be eligible for a loan given that you can show that you can repay the loan. Lenders are generally unconcerned about 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 an idea of your credit history and general information.
A hard credit pull, alternatively, needs your explicit consent. These credit pulls are utilized for a plethora of purposes, such as mortgages, credit card applications, and more.
You can still qualify for a cash advance loan with poor credit in Harvard, IL, if you can prove you will repay the loan.
Therefore, when you apply for a loan, albeit in person or online, ensure that you have your income information easily accessible and any other documents showing that you can pay back the loan. The more proof you have, the more likely your loan application will be approved.
When Will I Receive My Cash in Harvard, IL?
When you receive your loan really relies on the lender as some lenders provide same-day payday advance loans, which means you will see your payday advance loan on the same day you request a loan, as long as you get an approval.
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. Because of this, if you apply on a Friday, you might not see your deposit until Monday.
If you're needing a same-day paycheck advance loan in Harvard, IL, you will need to ensure you're applying by 10:30 am. All same-day loans going out that day will be approved by that time. However, you should apply earlier than that if possible, as it will boost the likelihood that you receive your funds on the day that you apply.
One additional factor that you should know is despite if the money lender grants your loan request and posts the deposit to your bank account, sometimes the bank won't release that credit right away. It's important to let your bank know that you plan to receive a cash advance loan, so they might make an exception in releasing the loan earlier.
Overall, it's best to prepare ahead of time to get money 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 PaydayLoanRadar
If you possess poor credit or no credit and are looking to get a paycheck advance loan, consider applying through us, as you frequently have a higher chance of approval.
We partner with over one hundred different lenders who provide their services online. Often you will receive your loan on the next business day so make sure that you plan correctly.
However, you can always find the closest payday loan storefront to you and apply in person to strengthen the chances of receiving your loan on the same business day. When submitting an application in person, ensure that you have your government ID or driver's license; a passport will work as well. Occasionally, lenders may request proof of address, so bring a utility bill to the store as well.
To find the nearest paycheck advance loan storefront, please use the list below and find your city.
Payday Loan Direct Lender Companies in Harvard, IL
Below you will find a list of payday loan companies offering their services in Harvard, Illinois. If you can't find a lender near your location in Harvard, 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 Harvard, 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.