Payday Loans in Laurel, Mississippi

Incidents happen, and we often end up in a place where we have to pay for some unexpected expenses. Think about submitting an application for a payday loan in Laurel, Mississippi, to see if you qualify.

The loan request process is fast and effortless. To be qualified, borrowers must satisfy a couple of straightforward criteria.

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

A payday loan is where the borrower will be extended a small sum of money on a short-term basis. This is thought of as an unsecured personal loan as no collateral is needed.

When surprise expenses present themselves, such as missed rent or utility bills, car fixes, health or vet expenditures, and so on, people frequently rely upon payday advance loans.

Paycheck Advance Loan Stipulations In Laurel, MS

In Laurel, MS, payday advance loan borrowers are required to satisfy a few criteria to qualify for a loan.

The borrower has to:

• Prove that they are a resident of Laurel, Mississippi
• Must be 18 years old
• Have an income that they can provide proof of being at least $1,000 per month
• Provide active contact details including cell phone number and email address
• Give their SSN

If a borrower does not meet the above requirements, they will immediately be denied a paycheck advance loan. Ensure that you possess the documentation needed when applying for a loan.

Laws and Rules Regarding Paycheck Advance Loans in Laurel, MS

Mississippi has deemed payday advance lending legal. Still, they have set the following rules and laws for the cash advance lending industry:

• An individual money lender can't offer a loan for more than $600. Borrowers may not possess more than two outstanding loans from different lenders. There is no minimum loan amount.
• The minimum loan term is not set, the longest loan term length is 31 days. In the State of Mississippi, borrowers are unable to rollover their loans.
• The fees and charges vary for each money lender. The service fees enacted by the lender on a loan are not considered interest. The service fees apply to each $100 loaned and can vary from 11% up to 15%.
• An interest rate is required to be mutually agreed upon. APR can be as much as 369%.

Will Payday Advance Lenders in Laurel, Mississippi, Complete Credit Checks? What If I Have Poor/No Credit History At All?

Yes, the lenders we partner with will run a credit check on you, still, even if you have no credit or dismal credit, you may still be eligible for a loan as long as you can show that you are able to pay back the loan. Lenders are commonly unbothered by your credit if you have proof of income and a strategy to pay back the loan.

Lenders will use a soft credit inquiry, which will have no impact on your credit score. This is only to get an idea of your credit history and basic information.

A hard credit check, dissimilarly, requires your permission. These credit inquiries are utilized for various purposes, such as mortgages, credit cards, and more.

You may still be approved for a payday loan with less than great credit in Laurel, MS, provided that you have proof of repayment.

Therefore, when you request a loan, albeit in person or online, double check that you have your income information available and any other documents verifying that you can pay back the loan. The more evidence you possess, the more likely your loan application will be approved.

When Will I Receive My Loan in Laurel, Mississippi?

When you see your money actually depends on the lender as some lenders advertise same-day paycheck advance loans, which means you will receive your cash advance loan on the same day you request a loan, 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. Because of this, if you apply on a Friday, you might not see your deposit until Monday.

If you're needing a same-day cash advance loan in Laurel, MS, you will need to make sure you're applying by 10:30 am. All same-day funds going out that day will be approved by that cut-off. However, you should submit an application earlier than that if able, as it will increase the likelihood that you get your deposit on the same day that you apply.

One additional factor that you should understand is even if the lender grants your loan request and posts the loan to your bank, occasionally the bank won't release that funds right away. It's paramount that you let your bank know that you plan to get a payday loan, so they might make an exception in releasing the loan earlier.

Overall, it's best to prepare in advance to receive money on the following business day. That way, you're not surprised if you cannot receive it on the same day.

Think About Working With PaydayLoanRadar

If you have poor credit or no credit and are searching to get a paycheck advance loan, think about applying with us, as you most likely have a better chance of approval.

We work with more than one hundred different lenders who provide their services online. Frequently you will get your loan on the next business day so make sure that you plan appropriately.

However, you can always find the nearest paycheck advance loan storefront to you and apply in person to increase the chances of receiving your funds on the same day. When applying 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 take along a utility bill to the store too.

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

Payday Loan Direct Lender Companies in Laurel, MS

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