Payday Loans in Springfield, Missouri

Life happens, and we usually end up in a spot where we have to pay for some unforeseen costs. Consider submitting an application for a payday advance loan in Springfield, MO, to see if you meet the requirements.

The loan request process is swift and straightforward. To qualify, borrowers must satisfy a few straightforward criteria.

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

A payday advance loan is where the borrower will receive a petite amount of cash on a short-term basis. This is thought of as an unsecured personal loan as no collateral is required.

When unexpected expenses present themselves, such as past due rent or utility expenditures, auto repairs, medical or vet bills, and so forth, people commonly rely upon cash advance loans.

Payday Loan Requirements In Springfield, Missouri

In Springfield, MO, payday loan borrowers must meet a few stipulations to qualify for a loan.

The borrower is required to:

• Show proof that they are a resident of Springfield, MO
• Must be at least 18
• Have an income that they can provide proof of being at least $1,000 per month
• Provide current contact details such as cell phone number and email address
• Give their social security number

If a borrower does not abide by the above requirements, they will immediately be denied a payday advance loan. Ensure that you possess the documents required when submitting your application.

Laws and Regulations Concerning Cash Advance Loans in Springfield, MO

The State of Missouri has ruled cash advance lending legal. Although, they have enacted the following rules and regulations for the cash advance lending industry:

• An individual lender cannot offer a loan in excess of $600. Borrowers may not take out greater than two outstanding 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 Missouri, borrowers cannot rollover their loans.
• The fees and charges vary for each lender. The service costs enacted by lenders on a loan are not considered interest. The service fees apply to every $100 borrowed and can vary from 11% up to 15%.
• An interest rate is required to be mutually decided upon. APR can range up to 369%.

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

Yes, the lenders we work with will complete a credit check on you, still, even if you have no credit or bad credit, you might still be approved for a loan as long as 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 plan to pay back the loan.

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

A hard credit pull, alternatively, requires your permission. These credit pulls are performed for a plethora of purposes, including mortgages, credit cards, and more.

You may still be approved for a cash advance loan with imperfect credit in Springfield, MO, as long as you can prove you will repay the loan.

Therefore, when you apply, albeit in person or online, make sure that you have your income information available and any other documents verifying that you can repay the loan. The more proof you have, the more likely your loan application will be approved.

When Will I See My Funds in Springfield, MO?

When you receive your money actually depends on the lender as some lenders offer same-day cash advance loans, which means you will see your cash advance loan on the same day you request a loan, as long as you receive an approval.

Much of the time, however, lenders will give the borrower their lump sum on the following business day. Businesses typically close for holidays and weekends. Therefore, if you apply on a Friday, you might not see your money until Monday.

If you're needing a same-day cash advance loan in Springfield, Missouri, you will need to make sure 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 request a loan earlier than that if able, as it will boost the likelihood that you get your loan on the same day that you submit your application.

One other consideration that you should be aware of is despite 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 receive a cash advance loan, so they might make an exception in releasing the cash earlier.

Overall, it's wise to prepare in advance to receive your funds on the next business day. That way, you're not surprised if you cannot receive it on the same day.

Think About Working With PaydayLoanRadar

If you possess underwhelming credit or no credit and are needing to secure a payday loan, consider applying with us, as you usually have a higher chance of approval.

We partner with hundreds of different lenders who provide their services online. Often you will see your funds on the following business day so ensure that you plan appropriately.

However, you can always find the closest payday advance loan storefront to you and apply in person to boost the chances of getting your loan on the same day. When requesting a loan in person, make sure that you have your government ID or driver's license; a passport will work as well. Infrequently, lenders may require proof of address, so take along a utility bill to the store as well.

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

Payday Loan Direct Lender Companies in Springfield, MO

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