Payday Loans in Colby, Kansas

Events happen, and we usually end up in a situation where we must pay for some surprise costs. Consider submitting an application for a cash advance loan in Colby, Kansas, to see if you meet the requirements.

The loan request process is swift and straightforward. To be eligible, you have to meet a few basic criteria.

What is a Payday Loan? What Can It Be Used For?

A payday loan is where the borrower will receive a petite amount of money on a short-term contract. This is considered an unsecured personal loan because no collateral is expected.

When surprise expenses arise, for example late rent or utility payments, car fixes, medical or vet payments, and so forth, people commonly rely upon cash advance loans.

Payday Advance Loan Criteria In Colby, KS

In Colby, KS, payday loan borrowers need to meet several criteria to qualify for a loan.

The borrower must:

• Show proof that they reside in Colby, Kansas
• Must be 18 years old
• Have a steady stream of income that they can provide proof of being at least $1,000 per month
• Give active contact information including cell phone number and email address
• Provide their SSN

If a borrower does not abide by the above criteria, they will immediately be denied a paycheck advance loan. Make sure you have the documents needed when requesting a loan.

Laws and Regulations Regarding Payday Loans in Colby, Kansas

Kansas has deemed payday lending legal. Still, they have enacted the following rules and laws for the payday lending industry:

• A single money lender can't offer a loan for more than $600. Borrowers cannot possess greater than two active loans from different lenders. There is no smallest loan amount.
• The minimum loan term is not set, the maximum loan term length is 31 days. In Kansas, borrowers are not allowed to rollover their loans.
• The fees and charges change for each lender. The service costs charged by lenders on a payday 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 decided upon. APR can be as much as 369%.

Will Paycheck Advance Lenders in Colby, Kansas, Run Credit Checks? What If I Have Poor/No Credit History At All?

Yes, the lenders we have a relationship with will complete a credit check on you, still, even if you possess no credit or less than stellar credit, you may still be approved for a loan as long as you can show that you are able to pay back the loan. Lenders are typically unbothered by your credit history if you have proof of income and a plan to pay back the loan.

Lenders will use a soft credit inquiry, which will not impact your credit score. This is solely to get an idea of your credit history and general information.

A hard credit pull, dissimilarly, must have your explicit consent. These credit inquiries are utilized for a variety of purposes, including mortgages, credit card applications, and more.

You can still be approved for a payday advance loan with less than great credit in Colby, KS, if you have proof of repayment.

Therefore, when you apply, whether it is in person or online, double check that you have your income information easily accessible and any other documents verifying that you can pay back the loan. The more evidence you provide, the more likely your loan request will be granted.

When Will I Get My Money in Colby, KS?

When you receive your loan really depends on the lender as some lenders advertise same-day paycheck advance loans, which means you will receive your cash advance loan on the same day you apply, as long as you receive an approval.

Most of the time, however, lenders will give the borrower their lump sum on the following business day. Businesses usually close for holidays and weekends. So, if you apply on a Friday, you may not get your deposit until Monday.

If you're needing a same-day payday loan in Colby, KS, you will need to be sure that 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 able, as it will boost the likelihood that you see your loan on the same day that you submit your application.

One other factor that you should know is despite if the lender grants your loan request 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 cash earlier.

Overall, it's wise to prepare in advance to receive 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 Borrowing From PaydayLoanRadar

If you have poor credit or no credit and are searching to secure a paycheck advance loan, think about 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. Much of the time you will receive your funds on the next business day so make sure that you plan appropriately.

However, you can always find the closest payday advance loan store to you and apply in person to strengthen the chances of seeing your funds on the same day. When requesting a loan in person, ensure that you have your government ID or driver's license; a passport will work as well. Now and again, lenders may require proof of address, so take along a utility bill to the store too.

To find the nearest payday advance loan storefront, please use the list below and locate your city.

Payday Loan Direct Lender Companies in Colby, KS

Below you will find a list of payday loan companies offering their services in Colby, Kansas. If you can't find a lender near your location in Colby, consider applying in a nearby city in Kansas. Alternatively, you can apply online on our website and get a decision almost instantly.