Payday Loans in De Soto, Missouri

Incidents happen, and we usually wind up in a spot where we have to cover some surprise expenses. Consider applying for a cash advance loan in De Soto, Missouri, to see if you meet the requirements.

The loan application process is swift and simple. To be qualified, you have to meet a couple of straightforward requirements.

What is a Payday Loan? What Can It Cover?

A paycheck 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 personal loan because no collateral is needed.

When unforeseen bills arise, for example missed rent or utility bills, car repairs, medical or vet expenditures, and so forth, people often seek out cash advance loans.

Payday Loan Stipulations In De Soto, Missouri

In De Soto, MO, payday advance loan borrowers need to meet a few requirements to be eligible for a loan.

The borrower must:

• Prove that they live in De Soto, Missouri
• Must be 18 years of age
• Receive a steady stream of income that they can provide proof of being at least $1,000 per month
• Provide up-to-date contact information including cell phone number and email address
• Provide their SSN

If a borrower does not satisfy the above rules, they will immediately be denied a paycheck advance loan. Make sure you can provide the documents needed when applying for a loan.

Laws and Rules Regarding Paycheck Advance Loans in De Soto, Missouri

The State of Missouri has deemed paycheck advance lending legal. Although, they have enacted the following rules and laws for the paycheck advance lending industry:

• An individual money lender can't offer a loan in excess of $600. Borrowers are not allowed to take out more than two outstanding loans from different lenders. There is no minimum loan amount.
• The minimum loan term is not determined, the maximum loan term length is 31 days. In the State of Missouri, borrowers cannot rollover their loans.
• The fees and charges vary for each loan lender. The service costs charged by lenders on a payday loan 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 agreed upon. APR can be as much as 369%.

Will Cash Advance Lenders in De Soto, Missouri, Complete Credit Checks? What If I Have Poor/No Credit History At All?

Yes, the lenders we have a relationship with will perform a credit check on you, but, even if you have no credit or bad credit, you may still be eligible for a loan provided you can prove that you can pay back the loan. Lenders are usually unbothered by your credit if you possess 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 an idea of your credit history and basic information.

A hard credit pull, alternatively, must have your explicit consent. These credit pulls are done for a plethora of purposes, such as mortgages, credit cards, and more.

You may still qualify for a payday advance loan with bad credit in De Soto, Missouri, provided that you have proof of repayment.

So, when you apply, whether it is in person or online, ensure that you have your income information easily accessible and any other documents verifying that you can repay the loan. The more proof you show, the better chance you are to be approved.

When Will I Receive My Deposit in De Soto, MO?

When you receive your cash actually depends on the lender as some lenders offer same-day paycheck advance loans, which means you will see 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 next business day. Businesses often close for holidays and weekends. Therefore, if you apply on a Friday, you might not receive your cash until Monday.

If you're wanting a same-day payday loan in De Soto, MO, you will need to ensure you're applying by 10:30 am. All same-day loans going out that day will be approved by that time. However, you should request a loan earlier than that if possible, as it will boost the likelihood that you receive your cash on the same day that you apply.

One more factor that you should know is despite if the lender grants your loan request and posts the credit to your bank, sometimes the bank won't release that funds immediately. It's paramount 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 deposit earlier.

On the whole, it's best to prepare ahead of time to get your loan on the following business day. That way, you're not surprised if you cannot receive it on the same day.

Think About Working With Us

If you possess less than great credit or no credit and are looking to secure a payday advance loan, consider applying with us, as you probably have a better chance of approval.

We work with more than one hundred different lenders who offer their services online. Frequently you will receive your funds on the next business day so make sure that you plan correctly.

However, you can always locate the closest cash advance loan store to you and apply in person to increase the chances of getting your funds on the same business day. When requesting a loan in person, ensure that you have your government ID or driver's license; a passport is sufficient. Infrequently, lenders may request proof of address, so take along a utility bill to the store as well.

To locate the nearest payday advance loan storefront, please use the list below and find your city.

Payday Loan Direct Lender Companies in De Soto, MO

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