Payday Loans in Bogalusa, Louisiana

Incidents happen, and we usually find ourselves in a place where we have to cover some unforeseen expenses. Consider applying for a payday loan in Bogalusa, Louisiana, to see if you qualify.

The loan application process is swift and effortless. To be eligible, borrowers have to meet a couple of basic conditions.

What is a Payday Advance Loan? What Can It Be Put Towards?

A payday advance loan is where the borrower will be extended a small sum of money on a short-term basis. This is deemed to be an unsecured loan because no collateral is required.

When unexpected expenses arise, for example late rent or utility payments, auto repairs, medical or vet costs, and so on, individuals usually seek out payday loans.

Payday Advance Loan Requirements In Bogalusa, LA

In Bogalusa, Louisiana, payday loan borrowers must satisfy a few requirements to be eligible for a loan.

The borrower has to:

• Show proof that they live in Bogalusa, LA
• Must be 18 years of age
• Receive an income that they can provide proof of being at least $1,000 per month
• Provide up-to-date contact details including cell phone number and email address
• Give their social security number

If a borrower does not satisfy the above requirements, they will automatically be denied a payday advance loan. Ensure that you have the documentation needed when requesting a loan.

Laws and Regulations Regarding Paycheck Advance Loans in Bogalusa, LA

Louisiana has ruled paycheck advance lending legal. Still, they have enacted the below rules and regulations for the payday lending market:

• A single money lender can't extend a loan greater than $600. Borrowers cannot take out 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 Louisiana, borrowers are not allowed to rollover their loans.
• The fees and charges are different for each money lender. The service fees charged by the lender on a cash advance loan are not considered interest. The service fees apply to every $100 borrowed and can range from 11% up to 15%.
• An interest rate must be mutually decided upon. APR can be as high as 369%.

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

Yes, the lenders we partner with will do a credit check on you, but, even if you possess no credit or bad credit, you might still be approved for a loan as long as you can prove that you can pay back the loan. Lenders are typically unconcerned about your credit if you have proof of income and a plan to pay back the loan.

Lenders will use a soft credit inquiry, which will have no impact on your credit score. This is simply to get an idea of your credit history and basic information.

A hard credit pull, dissimilarly, must have your explicit consent. These credit pulls are performed for a plethora of purposes, such as mortgages, credit card applications, and more.

You can still qualify for a payday loan with imperfect credit in Bogalusa, LA, if you can prove you will repay the loan.

Therefore, when you apply, whether it is in person or online, make sure that you have your income information at hand and any other documents showing that you can repay the loan. The more evidence you provide, the more likely your loan application will be approved.

When Will I Receive My Loan in Bogalusa, Louisiana?

When you receive your cash truly depends on the lender as some lenders offer same-day paycheck advance loans, which means you will receive your payday loan on the same day you submit your application, as long as you receive an approval.

Much of the time, though, lenders will send the borrower their lump sum on the next business day. Businesses often close for holidays and weekends. So, if you submit your application on a Friday, you might not see your loan until Monday.

If you're looking for a same-day cash advance loan in Bogalusa, Louisiana, you will need to ensure you're applying by 10:30 am. Any and all same-day funds 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 get your money on the day that you submit your application.

One additional consideration that you should understand is even if the lender approves your application and posts the deposit to your bank, sometimes the bank won't release that deposit right away. It's important to let your bank know that you plan to receive a payday advance loan, so they could possibly make an exception in releasing the deposit earlier.

Overall, it's wise to prepare ahead of time to receive your funds on the following business day. That way, you're not surprised if you cannot receive it on the same day.

Think About Borrowing From Us

If you have poor credit or no credit and are searching to secure a cash advance loan, consider applying with us, as you most likely have a higher chance of approval.

We partner with over one hundred different lenders who provide their services online. Most of the time you will see your cash on the next business day so ensure that you plan appropriately.

However, you can always locate the nearest paycheck advance loan storefront to you and apply in person to boost the chances of getting your cash on the same day. When applying 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 storefront, please refer to the list below and find your city.

Payday Loan Direct Lender Companies in Bogalusa, LA

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