Payday Loans in Greenwood, Mississippi
Life happens, and we usually wind up in a place where we have to pay for some unexpected costs. Consider submitting an application for a cash advance loan in Greenwood, Mississippi, to see if you qualify.
The application process is swift and painless. To qualify, borrowers must meet a few straightforward conditions.
What is a Payday Advance Loan? What Can It Be Put Towards?
A cash advance loan is where the borrower will get a petite amount of funds on a short-term agreement. This is thought of as an unsecured loan because no collateral is required.
When unexpected expenses arise, such as missed rent or utility fees, car repairs, medical or vet expenditures, and so forth, individuals often rely upon cash advance loans.
Paycheck Advance Loan Stipulations In Greenwood, MS
In Greenwood, Mississippi, paycheck advance loan borrowers must satisfy several criteria to be eligible for a loan.
The borrower is required to:
- Prove that they reside in Greenwood, Mississippi
- Must be 18 or older
- Receive a steady income that they can provide proof of being at least $1,000/month
- Provide up-to-date contact details such as cell phone number and email address
- Provide their SSN
If a borrower does not satisfy the above requirements, they will immediately be denied a payday advance loan. Ensure that you possess the documentation required when submitting your application.
Laws and Rules Regarding Payday Advance Loans in Greenwood, MS
Mississippi has deemed payday advance lending legal. However, they have enacted the below rules and laws for the paycheck advance lending industry:
- A single money lender cannot offer a loan greater than $600. Borrowers are not allowed to have more than two outstanding 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 Mississippi, borrowers cannot rollover their loans.
- The fees and charges change for each loan lender. The service costs enacted by lenders on a cash advance loan are not considered interest. The service fees apply to each $100 loaned and can vary between 11-15%.
- An interest rate must be mutually decided upon. APR can be as much as 369%.
Will Payday Lenders in Greenwood, MS, Perform Credit Checks? What If I Have Poor/No Credit History At All?
Yes, the lenders we partner with will perform a credit check on you, but, even if you have no credit or dismal credit, you might still be eligible for a loan given that you can prove that you can pay back the loan. Lenders are usually unconcerned about your credit history if you provide proof of income and a plan to pay back the loan.
Lenders will rely on a soft credit inquiry, which will not impact your credit score. This is simply to get a look at your credit history and basic information.
A hard credit pull, dissimilarly, must have your permission. These credit checks are used for various purposes, including mortgages, credit cards, and more.
You might still be approved for a payday advance loan with imperfect credit in Greenwood, MS, provided that you have proof of repayment.
So, when you apply for a loan, albeit in person or online, make sure that you have your income information easily accessible and any other documents showing that you can pay back the loan. The more evidence you provide, the more likely your loan request will be granted.
When Will I See My Money in Greenwood, Mississippi?
When you get your loan really relies on your lender as some lenders offer same-day payday loans, which means you will receive your cash advance loan on the same day you submit your application, as long as you're approved.
Most of the time, however, lenders will send the borrower their lump sum on the next business day. Businesses typically close for holidays and weekends. So, if you submit your application on a Friday, you may not see your deposit until Monday.
If you're needing a same-day cash advance loan in Greenwood, MS, you will need to make sure you're applying by 10:30 am. All same-day loans 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 increase the likelihood that you get your cash on the day that you apply.
One more factor that you should be aware of is despite if the lender grants your loan request and posts the credit to your checking account, occasionally the bank won't release that funds immediately. 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 cash earlier.
Overall, it's wise 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.
Consider Working With PaydayLoanRadar
If you have bad credit or no credit and are looking to get a cash advance loan, consider applying with us, as you probably have a higher chance of approval.
We partner with over one hundred different lenders who offer their services online. Frequently you will receive your cash on the following business day so ensure that you plan accordingly.
However, you can always find the nearest paycheck advance loan store to you and apply in person to strengthen the chances of getting your cash on the same day. When submitting an application in person, ensure that you have your government ID or driver's license; a passport will work as well. Sometimes, lenders may require proof of address, so bring a utility bill to the store too.
To find the nearest payday advance loan store, please use the list below and find your city.
Payday Loan Direct Lender Companies in Greenwood, MS
Below you will find a list of payday loan companies offering their services in Greenwood, Mississippi. If you can't find a lender near your location in Greenwood, consider applying in a nearby city in Mississippi. Alternatively, you can apply online on our website and get a decision almost instantly.
If you can't find a lender near your location in Greenwood, consider checking out payday loan lenders in nearby cities. Alternatively, apply online on our website and get an instant decision. If approved, you will get your cash the same or next business day.