Payday Loans in Independence, Missouri

Things happen, and we usually find ourselves in a spot where we have to cover some unforeseen costs. Think about applying for a payday loan in Independence, Missouri, to see if you meet the requirements.

The loan process is swift and simple. To be qualified, loan borrowers have to meet a couple of simple conditions.

What is a Payday Loan? What Can It Pay For?

A payday loan is where the borrower will be extended a small sum of funds on a short-term basis. This is thought of as an unsecured loan due to the fact that no collateral is expected.

When unforeseen costs present themselves, such as missed rent or utility bills, auto bills, health or vet fees, and so on, people commonly rely upon cash advance loans.

Paycheck Advance Loan Criteria In Independence, MO

In Independence, MO, paycheck advance loan borrowers are required to meet a few requirements to qualify for a loan.

The borrower is required to:

• Provide proof that they are a resident of Independence, MO
• Must be 18 or older
• Receive a steady stream of income that they can prove that's at least $1,000 per month
• Give active contact details such as cell phone number and email address
• Give their social security number

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

Laws and Regulations Concerning Cash Advance Loans in Independence, Missouri

Missouri has deemed payday advance lending legal. However, they have put forth the following rules and regulations for the cash advance lending industry:

• A single money lender can't extend a loan for more than $600. Borrowers are not allowed to possess more than two unpaid loans from different lenders. There is no minimum loan amount.
• The minimum loan term is not set, the maximum loan term length is 31 days. In Missouri, borrowers cannot rollover their loans.
• The fees and charges change for each lender. The service fees charged by the lender on a 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 Payday Advance Lenders in Independence, Missouri, Perform Credit Checks? What If I Have Dismal/No Credit History At All?

Yes, the lenders we have a relationship with will perform a credit check on you, still, even if you have no credit or poor credit, you may still be eligible for a loan provided you can show that you can pay back the loan. Lenders are usually unconcerned about your credit if you provide proof of income and a strategy to pay back the loan.

Lenders will perform a soft credit inquiry, which will not impact your credit score. This is only to get a feel of your credit history and basic information.

A hard credit pull, alternatively, needs your explicit consent. These credit checks are utilized for various purposes, such as mortgages, credit card applications, and more.

You can still qualify for a payday loan with bad credit in Independence, Missouri, as long as you can prove you will repay the loan.

So, when you request a loan, whether it is in person or online, make sure that you have your income information ready and any other documents verifying that you can pay back the loan. The more evidence you possess, the more likely your loan request will be granted.

When Will I Receive My Deposit in Independence, MO?

When you see your funds truly relies on your lender as some lenders advertise same-day paycheck advance loans, which means you will get your cash advance loan on the same day you request a loan, as long as you get an approval.

Most of the time, though, lenders will send the borrower their lump sum on the following business day. Businesses often 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 paycheck advance loan in Independence, Missouri, you will need to ensure you're applying by 10:30 am. Any and all same-day deposits going out that day will be approved by that cut-off. However, you should request a loan earlier than that if possible, as it will boost the likelihood that you get your deposit on the same day that you submit your application.

One more factor that you should be aware of is even if the lender grants your loan request and posts the funds to your bank account, sometimes the bank won't release that loan immediately. It's vital that you let your bank know that you plan to get a cash advance loan, so they might make an exception in releasing the money earlier.

Overall, it's best 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.

Think About Working With Us

If you have bad credit or no credit and are searching to get a cash advance loan, think about applying through us, as you probably have a better chance of approval.

We partner with more than one hundred different lenders who provide their services online. Frequently you will receive your money on the next business day so make sure that you plan appropriately.

Although, you can always locate the closest cash advance loan storefront to you and apply in person to increase the chances of getting your funds on the same day. When applying in person, make sure that you have your government ID or driver's license; a passport will work as well. Sometimes, lenders may request proof of address, so take along a utility bill to the store as well.

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

Payday Loan Direct Lender Companies in Independence, MO

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