Payday Loans in St. Louis, Missouri

Events happen, and we often find ourselves in a spot where we must cover some unexpected costs. Think about applying for a paycheck advance loan in St. Louis, Missouri, to see if you qualify.

The application process is swift and simple. To qualify, loan borrowers have to meet a couple of general requirements.

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

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

When surprise costs present themselves, for example missed rent or utility fees, vehicle fixes, health or vet payments, and so on, individuals usually turn to payday advance loans.

Cash Advance Loan Stipulations In St. Louis, MO

In St. Louis, Missouri, cash advance loan borrowers are required to satisfy several criteria to be eligible for a loan.

The borrower must:

• Show proof that they live in St. Louis, Missouri
• Must be 18 or older
• Receive a steady stream of income that they can prove that's at least $1,000/month
• Give active contact information including phone number and email address
• Provide their SSN

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

Laws and Rules Regarding Payday Loans in St. Louis, Missouri

Missouri has deemed payday advance lending legal. Although, they have set the below rules and laws for the paycheck advance lending market:

• A single money lender can't extend a loan for more than $600. Borrowers cannot have more than two outstanding loans from different lenders. There is no minimum loan amount.
• There is no minimum loan term, the maximum loan term length is 31 days. In the State of Missouri, borrowers are unable to rollover their loans.
• The fees and charges vary for each money lender. The service fees charged by the lender on a cash advance loan do not fall under interest. The service fees apply to each $100 loaned and can range between 11-15%.
• An interest rate must be mutually decided upon. APR can be as much as 369%.

Will Paycheck Advance Lenders in St. Louis, MO, Complete Credit Checks? What If I Have Bad/No Credit History At All?

Yes, the lenders we work with will perform a credit check on you, but, even if you possess no credit or dismal credit, you may still be eligible for a loan as long as you can show that you are able to repay the loan. Lenders are typically unconcerned about your credit history if you have proof of income and a strategy to repay the loan.

Lenders will use a soft credit check, which will not impact your credit score. This is simply to get a feel of your credit history and basic information.

A hard credit check, alternatively, requires your explicit consent. These credit checks are used for a plethora of purposes, such as mortgages, credit card applications, and more.

You can still qualify for a payday advance loan with bad credit in St. Louis, Missouri, if you have proof of repayment.

So, when you apply, whether it is in person or online, double check 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 better chance your loan request will be granted.

When Will I Get My Cash in St. Louis, Missouri?

When you receive your deposit actually relies on your lender as some lenders advertise same-day paycheck advance loans, which means you will receive your payday loan on the same day you apply, as long as you're approved.

Most of the time, though, lenders will send the borrower their lump sum on the next business day. Businesses often close for holidays and weekends. Therefore, if you submit your application on a Friday, you may not receive your funds until Monday.

If you're looking for a same-day payday loan in St. Louis, MO, you will need to make sure you're applying by 10:30 am. Any and all same-day loans going out that day will be approved by that cut-off. However, you should apply earlier than that if possible, as it will increase the likelihood that you get your loan on the day that you apply.

One additional factor that you should understand is even if the money lender approves your application and posts the credit to your bank account, occasionally the bank won't release that credit at that time. It's paramount that you let your bank know that you plan to get a paycheck advance loan, so they could possibly make an exception in releasing the money 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 get it on the same day.

Consider Borrowing From Us

If you have bad credit or no credit and are looking to get a payday advance loan, think about applying through us, as you most likely have a better chance of approval.

We work with hundreds of different lenders who offer their services online. Much of the time you will see your funds on the next business day so make sure that you plan accordingly.

Although, you can always locate the nearest cash advance loan store to you and apply in person to boost the chances of getting your cash on the same business day. When applying in person, ensure that you have your government ID or driver's license; a passport is sufficient. Sometimes, lenders may request proof of address, so bring a utility bill to the store too.

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

Payday Loan Direct Lender Companies in St. Louis, MO

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