Payday Loans in Columbia, Mississippi

Events happen, and we often find ourselves in a situation where we have to pay for some unforeseen costs. Think about submitting an application for a cash advance loan in Columbia, Mississippi, to see if you meet the requirements.

The loan process is swift and effortless. To be qualified, borrowers have to satisfy a couple of basic criteria.

What is a Cash Advance Loan? What Can It Cover?

A payday advance loan is where the borrower will receive a small amount of funds on a short-term contract. This is deemed to be an unsecured personal loan because no collateral is expected.

When unforeseen expenses come up, like missed rent or utility costs, car costs, medical or vet expenditures, and so forth, individuals often seek out payday advance loans.

Payday Advance Loan Criteria In Columbia, Mississippi

In Columbia, Mississippi, payday advance loan borrowers need to meet a few criteria to be eligible for a loan.

The borrower must:

• Provide proof that they reside in Columbia, Mississippi
• Must be 18 or older
• Have a steady income that they can provide proof of being at least $1,000/month
• Provide active contact details like phone number and email address
• Provide their social security number

If a borrower does not abide by the above requirements, they will immediately be denied a payday loan. Make sure you possess the documentation needed when applying for a loan.

Laws and Regulations Concerning Payday Loans in Columbia, MS

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

• A single lender can't extend a loan for more than $600. Borrowers cannot possess greater than two active loans from different lenders. There is no smallest loan amount.
• There is no minimum loan term, the maximum loan term length is 31 days. In the State of Mississippi, borrowers cannot rollover their loans.
• The fees and charges vary for each money lender. The service costs charged by the lender on each loan or transaction are not considered interest. The service fees apply to each $100 loaned and can range from 11% up to 15%.
• An interest rate must be mutually settled upon. APR can be as high as 369%.

Will Payday Advance Lenders in Columbia, MS, Complete 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 dismal credit, you might still be approved for a loan given that you can show that you can repay the loan. Lenders are commonly unbothered by your credit history if you provide 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 an idea of your credit history and general information.

A hard credit check, alternatively, must have your permission. These credit inquiries are used for various purposes, including mortgages, credit cards, and more.

You can still qualify for a paycheck advance loan with imperfect credit in Columbia, Mississippi, provided that 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 pay back the loan. The more proof you provide, the better chance your loan request will be granted.

When Will I Get My Cash in Columbia, Mississippi?

When you see your funds actually depends on your lender as some lenders offer same-day payday advance loans, which means you will receive your payday loan on the same day you submit your application, as long as you're approved.

Much of the time, however, lenders will send the borrower their lump sum on the following business day. Businesses generally close for holidays and weekends. So, if you submit your application on a Friday, you may not get your funds until Monday.

If you're needing a same-day payday advance loan in Columbia, Mississippi, you will need to ensure you're applying by 10:30 am. 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 loan on the same day that you apply.

One additional factor that you should know is even if the money lender approves your application and posts the loan to your bank, sometimes the bank won't release that deposit right away. It's paramount that you let your bank know that you plan to receive a cash advance loan, so they might make an exception in releasing the loan earlier.

On the whole, it's best to prepare in advance to receive your funds on the next business day. That way, you're not out of luck if you cannot receive it on the same day.

Think About Borrowing From Us

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

We work with hundreds of different lenders who provide their services online. Much of the time you will receive your funds on the next business day so ensure that you plan appropriately.

Although, you can always locate the closest payday advance loan store to you and apply in person to boost the chances of getting your funds on the same business day. When submitting an application in person, ensure that you have your government ID or driver's license; a passport will work as well. Infrequently, lenders may require proof of address, so bring a utility bill to the store too.

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

Payday Loan Direct Lender Companies in Columbia, MS

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