Payday Loans in Alexandria, Louisiana

Incidents happen, and we usually wind up in a situation where we have to pay for some surprise expenses. Think about applying for a paycheck advance loan in Alexandria, LA, to see if you qualify.

The loan application process is quick and effortless. To be qualified, you have to satisfy a few general requirements.

What is a Cash Advance Loan? What Can It Cover?

A payday advance loan is where the borrower will be extended a petite sum of funds on a short-term agreement. This is deemed to be an unsecured loan because no collateral is expected.

When unexpected costs present themselves, for example missed rent or utility payments, auto bills, health or vet payments, and so forth, individuals often seek out paycheck advance loans.

Payday Loan Criteria In Alexandria, Louisiana

In Alexandria, LA, payday advance loan borrowers need to satisfy several requirements to qualify for a loan.

The borrower has to:

• Show proof that they live in Alexandria, LA
• Must be 18 years old
• Receive a steady income that they can provide proof of being at least $1,000 per month
• Provide current contact details like phone number and email address
• Give their social security number

If a borrower does not meet the above requirements, they will automatically be denied a payday loan. Ensure that you can provide the documents needed when requesting a loan.

Laws and Rules Regarding Paycheck Advance Loans in Alexandria, LA

The State of Louisiana has ruled payday lending legal. Although, they have enacted the following rules and laws for the cash advance lending industry:

• An individual money lender can't offer a loan for more than $600. Borrowers may not have greater than two unpaid loans from different lenders. There is no minimum loan amount.
• The minimum loan term is not set, the maximum loan term length is 31 days. In the State of Louisiana, borrowers are unable to rollover their loans.
• The fees and charges change for each money lender. The service costs enacted by the lender on each loan or transaction do not fall under interest. The service fees apply to each $100 loaned and can vary between 11-15%.
• An interest rate must be mutually decided upon. APR can be as much as 369%.

Will Cash Advance Lenders in Alexandria, LA, Run Credit Checks? What If I Have Poor/No Credit History At All?

Yes, the lenders we work with will run a credit check on you, but, even if you possess no credit or less than optimal credit, you may still be approved for a loan given that you can show that you are able to repay the loan. Lenders are usually unconcerned about your credit history if you provide proof of income and a strategy to repay the loan.

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

A hard credit check, alternatively, requires your permission. These credit checks are used for a variety of purposes, including mortgages, credit card applications, and more.

You may still qualify for a paycheck advance loan with bad credit in Alexandria, LA, as long as you can prove you will repay the loan.

So, when you request a loan, albeit in person or online, double check that you have your income information available and any other documents showing that you can pay back the loan. The more evidence you provide, the better chance your loan application will be approved.

When Will I Get My Loan in Alexandria, LA?

When you see your deposit actually depends on your lender as some lenders provide same-day paycheck advance loans, which means you will see your payday loan on the same day you submit your application, as long as you get an approval.

Most of the time, though, lenders will give the borrower their lump sum on the next business day. Businesses typically close for holidays and weekends. Because of this, if you apply on a Friday, you might not receive your funds until Monday.

If you're searching for a same-day payday advance loan in Alexandria, Louisiana, you will need to ensure you're applying by 10:30 am. All same-day payments going out that day will be approved by that cut-off. However, you should apply earlier than that if possible, as it will boost the likelihood that you see your loan on the day that you apply.

One additional consideration that you should be aware of is despite if the money lender grants your loan request and posts the loan to your checking account, sometimes the bank won't release that loan right away. It's important to let your bank know that you plan to receive a payday advance loan, so they might make an exception in releasing the funds earlier.

Overall, it's wise to prepare in advance to get your deposit on the next business day. That way, you're not out of luck if you cannot get it on the same day.

Think About Working With Us

If you possess poor credit or no credit and are needing to get a cash advance loan, consider applying through us, as you usually have a higher chance of approval.

We partner with more than one hundred different lenders who offer their services online. Frequently you will see your deposit on the following business day so make sure that you plan correctly.

However, you can always find the nearest cash advance loan store to you and apply in person to boost the chances of seeing your loan on the same day. When applying in person, make sure that you have your government ID or driver's license; a passport is sufficient. Sometimes, lenders may request proof of address, so take along a utility bill to the store as well.

To locate the nearest paycheck advance loan store, please refer to the list below and locate your city.

Payday Loan Direct Lender Companies in Alexandria, LA

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