Payday Loans in Golden Valley, Minnesota

Life happens, and we usually end up in a place where we must pay for some unforeseen expenses. Consider applying for a cash advance loan in Golden Valley, Minnesota, to see if you are eligible.

The loan request process is swift and simple. To be qualified, you must meet a few straightforward conditions.

What is a Cash Advance Loan? What Can It Pay For?

A paycheck advance loan is where the borrower will receive a small amount of cash on a short-term basis. This is considered an unsecured loan as no collateral is expected.

When surprise bills come up, such as past due rent or utility bills, car costs, health or vet bills, and so on, individuals frequently turn to cash advance loans.

Payday Advance Loan Requirements In Golden Valley, Minnesota

In Golden Valley, Minnesota, paycheck advance loan borrowers need to satisfy several stipulations to qualify for a loan.

The borrower is required to:

• Provide proof that they are a resident of Golden Valley, MN
• Must be 18 years old
• Have a steady income that they can prove that's at least $1,000 per month
• Give active contact information such as phone number and email address
• Give their social security number

If a borrower does not abide by the above requirements, they will automatically be denied a paycheck advance loan. Ensure that you can provide the documents needed when applying.

Laws and Regulations Regarding Paycheck Advance Loans in Golden Valley, Minnesota

The State of Minnesota has ruled payday lending legal. Although, they have enacted the below rules and regulations for the payday advance lending industry:

• A single money lender can't offer a loan for more than $600. Borrowers are not allowed to possess greater than two active loans from different lenders. There is no smallest loan amount.
• The minimum loan term is not determined, the longest loan term length is 31 days. In the State of Minnesota, borrowers may not rollover their loans.
• The fees and charges change for each loan lender. The service costs enacted by the lender on a loan are not considered interest. The service fees apply to each $100 loaned and can range from 11% up to 15%.
• An interest rate is required to be mutually decided upon. APR can be as much as 369%.

Will Payday Lenders in Golden Valley, Minnesota, Run Credit Checks? What If I Have Poor/No Credit History At All?

Yes, the lenders we partner with will perform a credit check on you, but, 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 commonly unconcerned about your credit if you possess proof of income and a plan to pay back the loan.

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

A hard credit check, dissimilarly, must have your explicit consent. These credit inquiries are performed for various purposes, including mortgages, credit cards, and more.

You might still be approved for a cash advance loan with bad credit in Golden Valley, Minnesota, provided that you can prove you will repay the loan.

Therefore, when you request a loan, whether it is in person or online, double check that you have your income information ready and any other documents showing that you can pay back the loan. The more evidence you show, the more likely you are to be approved.

When Will I Get My Cash in Golden Valley, MN?

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

Most of the time, though, lenders will send the borrower their lump sum on the next business day. Businesses typically close for holidays and weekends. So, if you apply on a Friday, you may not receive your cash until Monday.

If you're needing a same-day cash advance loan in Golden Valley, Minnesota, you will need to be sure that you're applying by 10:30 am. Any and 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 deposit on the day that you submit your application.

One more consideration that you should be aware of is despite if the lender approves your application and posts the credit to your bank account, sometimes the bank won't release that deposit at that time. It's vital that you let your bank know that you plan to get a cash advance loan, so they could possibly make an exception in releasing the loan earlier.

On the whole, it's wise to prepare ahead of time to get money on the next business day. That way, you're not out of luck if you cannot receive it on the same day.

Consider Borrowing From Us

If you possess underwhelming credit or no credit and are looking to get a paycheck advance loan, think about applying through us, as you probably have a higher chance of approval.

We partner with over one hundred different lenders who offer their services online. Often you will see your cash on the following business day so ensure that you plan appropriately.

However, you can always locate the nearest payday loan storefront to you and apply in person to strengthen the chances of seeing your loan on the same business day. When applying in person, make sure that you have your government ID or driver's license; a passport is sufficient. Infrequently, lenders may request proof of address, so bring a utility bill to the store as well.

To find the nearest payday loan store, please navigate to the list below and find your city.

Payday Loan Direct Lender Companies in Golden Valley, MN

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