Payday Loans in Canton, Mississippi

Things happen, and we often wind up in a place where we must cover some unforeseen expenses. Consider applying for a cash advance loan in Canton, MS, to see if you are eligible.

The application process is swift and straightforward. To qualify, loan borrowers must satisfy a few general conditions.

What is a Cash Advance Loan? What Can It Be Put Towards?

A paycheck advance loan is where the borrower will get a small sum of cash on a short-term agreement. This is deemed to be an unsecured personal loan because no collateral is expected.

When surprise costs present themselves, like late rent or utility payments, auto costs, health or vet payments, and so on, people usually seek out payday advance loans.

Payday Advance Loan Requirements In Canton, MS

In Canton, MS, paycheck advance loan borrowers must satisfy a few requirements to qualify for a loan.

The borrower must:

• Provide proof that they reside in Canton, Mississippi
• Must be 18 years old
• Receive a steady stream of income that they can provide proof of being at least $1,000/month
• Give current contact information such as phone number and email address
• Provide their social security number

If a borrower does not satisfy the above requirements, they will automatically be denied a cash advance loan. Ensure that you can provide the documents needed when submitting your application.

Laws and Regulations Concerning Cash Advance Loans in Canton, Mississippi

The State of Mississippi has deemed paycheck advance lending legal. Still, they have enacted the below rules and regulations for the paycheck advance lending industry:

• An individual lender cannot extend a loan in excess of $600. Borrowers may not possess greater 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 the State of Mississippi, borrowers are unable to rollover their loans.
• The fees and charges change for each loan lender. The service fees enacted by lenders on a cash advance loan do not fall under interest. The service fees apply to each $100 borrowed and can vary between 11-15%.
• An interest rate is required to be mutually settled upon. APR can be as high as 369%.

Will Cash Advance Lenders in Canton, Mississippi, Run Credit Checks? What If I Have Bad/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 less than stellar credit, you may still be approved for a loan as long as you can prove that you can repay the loan. Lenders are commonly unbothered by your credit if you possess proof of income and a strategy to repay the loan.

Lenders will use a soft credit pull, which will not impact your credit score. This is solely to get a look at your credit history and general information.

A hard credit check, dissimilarly, requires your explicit consent. These credit inquiries are done for various purposes, including mortgages, credit card applications, and more.

You might still be approved for a payday loan with poor credit in Canton, Mississippi, if you can prove you will repay the loan.

Therefore, when you request a loan, whether it is in person or online, make sure that you have your income information easily accessible and any other documents proving that you can repay the loan. The more evidence you provide, the more likely you are to be approved.

When Will I Receive My Deposit in Canton, MS?

When you receive your cash really depends on your lender as some lenders offer same-day cash advance loans, which means you will receive your payday advance 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 generally close for holidays and weekends. Because of this, if you submit your application on a Friday, you might not see your cash until Monday.

If you're wanting a same-day cash advance loan in Canton, MS, 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 submit an application earlier than that if possible, as it will increase the likelihood that you get your loan on the day that you apply.

One more consideration that you should be aware of is even if the lender approves your application and posts the loan to your checking account, sometimes the bank won't release that loan right away. It's important to let your bank know that you plan to receive a paycheck advance loan, so they could possibly make an exception in releasing the deposit earlier.

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

Consider Working With Us

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

We partner with over one hundred different lenders who provide their services online. Frequently you will see your money on the next business day so ensure that you plan accordingly.

However, you can always find the closest cash advance loan storefront to you and apply in person to increase the chances of receiving your cash on the same day. When submitting an application in person, make sure that you have your government ID or driver's license; a passport is sufficient. Sometimes, lenders may require proof of address, so take along a utility bill to the store too.

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

Payday Loan Direct Lender Companies in Canton, MS

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