Payday Loans in Merrydale, Louisiana

Events happen, and we often wind up in a spot where we must pay for some unforeseen costs. Consider submitting an application for a cash advance loan in Merrydale, LA, to see if you meet the requirements.

The loan process is quick and straightforward. To be qualified, loan borrowers must meet a few basic criteria.

What is a Cash Advance Loan? What Can It Be Used For?

A payday loan is where the borrower will receive a small sum of cash on a short-term contract. This is deemed to be an unsecured loan as no collateral is required.

When surprise financial needs present themselves, such as late rent or utility fees, vehicle fees, medical or vet fees, and so forth, individuals commonly rely upon paycheck advance loans.

Cash Advance Loan Criteria In Merrydale, LA

In Merrydale, LA, payday loan borrowers must satisfy a few requirements to qualify for a loan.

The borrower has to:

• Provide proof that they reside in Merrydale, LA
• Must be 18 or older
• Have a steady income that they can prove that's at least $1,000 per month
• Provide up-to-date contact details like phone number and email address
• Provide their SSN

If a borrower does not abide by the above requirements, they will automatically be denied a payday advance loan. Ensure that you possess the documents needed when requesting a loan.

Laws and Regulations Concerning Paycheck Advance Loans in Merrydale, LA

Louisiana has deemed payday lending legal. Although, they have created the following rules and laws for the payday advance lending industry:

• A single money lender can't extend a loan for more than $600. Borrowers cannot take out more than two outstanding loans from different lenders. There is no minimum loan amount.
• There is no minimum loan term, the longest loan term length is 31 days. In Louisiana, borrowers are unable to rollover their loans.
• The fees and charges vary for each lender. The service costs enacted by the lender on a payday loan are not considered interest. The service fees apply to every $100 borrowed and can vary from 11% up to 15%.
• An interest rate must be mutually decided upon. APR can be as much as 369%.

Will Payday Lenders in Merrydale, LA, Run Credit Checks? What If I Have Bad/No Credit History At All?

Yes, the lenders we work with will complete a credit check on you, but, even if you possess no credit or less than stellar credit, you might still be approved for a loan as long as you can prove that you can repay the loan. Lenders are commonly unbothered by your credit if you have proof of income and a strategy to pay back the loan.

Lenders will conduct a soft credit pull, which will have no impact on your credit score. This is only to get a look at your credit history and basic information.

A hard credit inquiry, on the other hand, requires your explicit consent. These credit pulls are utilized for a variety of purposes, including mortgages, credit card applications, and more.

You may still be approved for a payday advance loan with bad credit in Merrydale, LA, as long as you can prove you will repay the loan.

So, when you apply, albeit in person or online, make sure that you have your income information at hand and any other documents verifying that you can repay the loan. The more proof you provide, the more likely your loan request will be granted.

When Will I See My Funds in Merrydale, Louisiana?

When you receive your funds actually relies on your lender as some lenders offer same-day payday 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, however, lenders will send the borrower their lump sum on the following business day. Businesses typically close for holidays and weekends. Because of this, if you apply on a Friday, you may not get your deposit until Monday.

If you're searching for a same-day payday loan in Merrydale, 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 submit an application earlier than that if able, as it will increase the likelihood that you see your funds on the day that you submit your application.

One other factor that you should know is even if the money lender grants your loan request and posts the deposit to your bank, sometimes the bank won't release that credit at that time. It's vital that you let your bank know that you plan to receive a payday advance loan, so they could possibly make an exception in releasing the loan earlier.

On the whole, it's wise to prepare in advance to get money 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 possess underwhelming credit or no credit and are looking to get a cash advance loan, consider applying through us, as you frequently have a better chance of approval.

We work with hundreds of different lenders who offer their services online. Frequently you will receive your loan on the following business day so make sure that you plan correctly.

However, you can always locate the nearest paycheck advance loan store to you and apply in person to strengthen the chances of getting your money on the same day. When requesting a loan in person, make sure that you have your government ID or driver's license; a passport is sufficient. Now and again, lenders may ask for proof of address, so take along a utility bill to the store as well.

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

Payday Loan Direct Lender Companies in Merrydale, LA

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