Payday Loans in Olive Branch, Mississippi

Life happens, and we usually wind up in a place where we must cover some surprise costs. Consider applying for a paycheck advance loan in Olive Branch, MS, to see if you are eligible.

The loan application process is swift and simple. To qualify, loan borrowers must meet a couple of straightforward requirements.

What is a Payday Loan? What Can It Be Put Towards?

A payday loan is where the borrower will receive a small sum of cash on a short-term basis. This is thought of as an unsecured loan as no collateral is required.

When unforeseen expenses come up, like past due rent or utility bills, vehicle costs, health or vet bills, and so on, individuals usually seek out cash advance loans.

Cash Advance Loan Criteria In Olive Branch, MS

In Olive Branch, Mississippi, cash advance loan borrowers are required to satisfy a few criteria to qualify for a loan.

The borrower must:

• Provide proof that they live in Olive Branch, Mississippi
• Must be at least 18
• Receive a steady income that they can prove that's at least $1,000/month
• Give current contact information such as cell phone number and email address
• Give their social security number

If a borrower does not meet the above rules, they will immediately be denied a paycheck advance loan. Make sure you possess the documents needed when applying for a loan.

Laws and Rules Concerning Paycheck Advance Loans in Olive Branch, Mississippi

Mississippi has ruled paycheck advance lending legal. However, they have enacted the below rules and regulations for the paycheck advance lending market:

• An individual lender can't extend a loan greater than $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 determined, the maximum loan term length is 31 days. In Mississippi, borrowers are not allowed 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 are not considered interest. The service fees apply to every $100 loaned and can range between 11-15%.
• An interest rate is required to be mutually agreed upon. APR can be as high as 369%.

Will Payday Advance Lenders in Olive Branch, Mississippi, Perform Credit Checks? What If I Have Bad/No Credit History At All?

Yes, the lenders we work with will do a credit check on you, still, even if you have no credit or poor credit, you may still be approved for a loan provided you can prove that you are able to pay back the loan. Lenders are typically unconcerned about your credit if you provide proof of income and a strategy to repay the loan.

Lenders will rely on a soft credit check, which will not impact your credit score. This is solely to get a look at your credit history and basic information.

A hard credit check, alternatively, requires your permission. These credit checks are performed for various purposes, including mortgages, credit card applications, and more.

You may still be approved for a payday advance loan with poor credit in Olive Branch, Mississippi, provided that you can prove you will repay the loan.

Therefore, when you apply, whether it is in person or online, ensure that you have your income information ready and any other documents proving that you can repay the loan. The more evidence you show, the more likely you are to be approved.

When Will I Receive My Cash in Olive Branch, MS?

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

Much of the time, though, lenders will give the borrower their lump sum on the next business day. Businesses usually close for holidays and weekends. Therefore, if you apply on a Friday, you may not get your loan until Monday.

If you're looking for a same-day cash advance loan in Olive Branch, MS, you will need to be sure that you're applying by 10:30 am. All same-day deposits going out that day will be approved by that time. However, you should apply earlier than that if possible, as it will boost the likelihood that you receive your funds on the same day that you apply.

One other factor that you should understand is despite if the money lender approves your application and posts the deposit to your bank account, sometimes the bank won't release that loan at that time. It's paramount that you let your bank know that you plan to get a cash advance loan, so they could possibly make an exception in releasing the loan earlier.

Overall, it's best to prepare ahead of time to receive your loan on the next business day. That way, you're not out of luck if you cannot receive it on the same day.

Consider Borrowing From Us

If you possess poor credit or no credit and are needing to get 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 receive your deposit on the next business day so make sure that you plan accordingly.

However, you can always find the nearest payday advance loan store to you and apply in person to strengthen the chances of seeing your funds on the same business day. When requesting a loan in person, make sure that you have your government ID or driver's license; a passport will work as well. Infrequently, lenders may request proof of address, so bring a utility bill to the store as well.

To locate the nearest payday loan store, please navigate to the list below and search for your city.

Payday Loan Direct Lender Companies in Olive Branch, MS

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