Payday Loans in Lake Charles, Louisiana

Things happen, and we often find ourselves in a place where we must pay for some unexpected expenses. Consider applying for a paycheck advance loan in Lake Charles, Louisiana, to see if you meet the requirements.

The loan request process is swift and effortless. To be qualified, borrowers have to meet a few straightforward requirements.

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

A payday loan is where the borrower will receive a petite sum of money on a short-term basis. This is thought of as an unsecured loan due to the fact that no collateral is needed.

When unforeseen bills come up, for example late rent or utility fees, car bills, health or vet fees, and so forth, individuals usually seek out cash advance loans.

Cash Advance Loan Requirements In Lake Charles, Louisiana

In Lake Charles, LA, paycheck advance loan borrowers need to meet a few stipulations to qualify for a loan.

The borrower must:

• Provide proof that they live in Lake Charles, LA
• Must be 18 or older
• Receive an income that they can prove that's at least $1,000 per month
• Give active contact information such as phone number and email address
• Provide their SSN

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

Laws and Regulations Regarding Payday Loans in Lake Charles, Louisiana

The State of Louisiana has ruled cash advance lending legal. However, they have put forth the following rules and laws for the cash advance lending industry:

• A single lender can't extend a loan in excess of $600. Borrowers may not possess greater than two unpaid loans from different lenders. There is no minimum loan amount.
• The minimum loan term is not set, the longest loan term length is 31 days. In Louisiana, borrowers are unable to rollover their loans.
• The fees and charges change for each money lender. The service fees charged by lenders on a payday loan are not considered interest. The service fees apply to every $100 borrowed and can vary between 11-15%.
• An interest rate must be mutually settled upon. APR can range up to 369%.

Will Cash Advance Lenders in Lake Charles, LA, Run 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, but, even if you have no credit or poor credit, you might still be eligible for a loan provided you can show that you can repay the loan. Lenders are typically unconcerned about your credit if you provide proof of income and a strategy to pay back the loan.

Lenders will perform a soft credit check, which will have no impact on your credit score. This is simply to get a feel of your credit history and general information.

A hard credit check, dissimilarly, requires your permission. These credit pulls are utilized for a variety of purposes, including mortgages, credit card applications, and more.

You can still be approved for a paycheck advance loan with imperfect credit in Lake Charles, Louisiana, as long as you have proof of repayment.

So, 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 repay the loan. The more evidence you provide, the more likely you are to be approved.

When Will I See My Loan in Lake Charles, LA?

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

Much of the time, however, lenders will send the borrower their lump sum on the following business day. Businesses usually close for holidays and weekends. Because of this, if you apply on a Friday, you might not receive your loan until Monday.

If you're wanting a same-day cash advance loan in Lake Charles, LA, you will need to be sure that you're applying by 10:30 am. Any and all same-day payments going out that day will be approved by that time. However, you should submit an application earlier than that if able, as it will boost the likelihood that you receive your loan on the day that you apply.

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

On the whole, it's wise to prepare in advance to get cash on the next business day. That way, you're not surprised if you cannot get it on the same day.

Consider Working With Us

If you have poor credit or no credit and are wanting to get a cash advance loan, consider applying through us, as you usually 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 get your money on the next business day so ensure that you plan appropriately.

However, you can always locate the closest paycheck advance loan store to you and apply in person to increase the chances of receiving your loan 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. Sometimes, lenders may request proof of address, so bring a utility bill to the store too.

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

Payday Loan Direct Lender Companies in Lake Charles, LA

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