Payday Loans in Athens, Ohio
Life happens, and we usually end up in a place where we have to pay for some unforeseen costs. Think about submitting an application for a paycheck advance loan in Athens, OH, to see if you qualify.
The loan application process is swift and straightforward. To be eligible, you have to meet a couple of simple criteria.
What is a Paycheck Advance Loan? What Can It Be Used For?
A paycheck advance loan is where the borrower will be extended a small sum of money on a short-term agreement. This is considered an unsecured loan as no collateral is needed.
When unforeseen expenses present themselves, such as late rent or utility payments, auto costs, health or vet payments, and so forth, people frequently rely upon payday advance loans.
Cash Advance Loan Requirements In Athens, OH
In Athens, Ohio, payday advance loan borrowers must satisfy a few requirements to qualify for a loan.
The borrower has to:
- Show proof that they are a resident of Athens, OH
- Must be 18 or older
- Receive a steady income that they can prove that's at least $1,000/month
- Give up-to-date contact information such as cell phone number and email address
- Provide their SSN
If a borrower does not abide by the above rules, they will automatically be denied a payday advance loan. Ensure that you have the documents required when applying for a loan.
Laws and Regulations Concerning Paycheck Advance Loans in Athens, Ohio
The State of Ohio has ruled cash advance lending legal. Still, they have set the below rules and regulations for the payday lending industry:
- A single money lender cannot offer a loan in excess of $600. Borrowers cannot possess more than two active loans from different lenders. There is no smallest loan amount.
- The minimum loan term is not set, the maximum loan term length is 31 days. In Ohio, borrowers are not allowed to rollover their loans.
- The fees and charges are different for each loan lender. The service fees enacted by the lender on each loan or transaction do not fall under interest. The service fees apply to each $100 loaned and can vary between 11-15%.
- An interest rate must be mutually settled upon. APR can be as much as 369%.
Will Paycheck Advance Lenders in Athens, OH, Perform Credit Checks? What If I Have Bad/No Credit History At All?
Yes, the lenders we partner with will perform a credit check on you, still, even if you have no credit or poor credit, you may still be approved for a loan as long as you can prove that you are able to 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 conduct a soft credit inquiry, which will have no impact on your credit score. This is simply to get a look at your credit history and basic information.
A hard credit pull, alternatively, requires your explicit consent. These credit checks are utilized for various purposes, such as mortgages, credit cards, and more.
You may still qualify for a payday advance loan with imperfect credit in Athens, Ohio, if you have proof of repayment.
So, when you request a loan, albeit in person or online, double check that you have your income information available and any other documents showing that you can repay the loan. The more proof you show, the more likely your loan request will be granted.
When Will I See My Money in Athens, Ohio?
When you get your deposit actually relies on your lender as some lenders advertise same-day cash advance loans, which means you will receive your cash advance loan on the same day you submit your application, as long as you get an approval.
Most of the time, though, lenders will give the borrower their lump sum on the following business day. Businesses typically close for holidays and weekends. Because of this, if you apply on a Friday, you might not receive your deposit until Monday.
If you're needing a same-day payday advance loan in Athens, OH, you will need to ensure you're applying by 10:30 am. Any and all same-day loans going out that day will be approved by that time. However, you should request a loan earlier than that if possible, as it will increase the likelihood that you see your deposit on the day that you apply.
One additional consideration that you should know is despite if the money lender grants your loan request and posts the funds to your bank, occasionally the bank won't release that deposit right away. It's paramount that you let your bank know that you plan to receive a paycheck advance loan, so they could possibly make an exception in releasing the funds earlier.
On the whole, it's best to prepare in advance to get money on the following 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 less than great credit or no credit and are needing to secure a cash advance loan, think about applying with us, as you most likely have a higher chance of approval.
We work with over one hundred different lenders who provide their services online. Frequently you will see your cash on the next business day so ensure that you plan appropriately.
However, you can always locate the nearest paycheck advance loan storefront to you and apply in person to strengthen the chances of receiving your money on the same day. When requesting a loan in person, make sure that you have your government ID or driver's license; a passport is sufficient. Sometimes, lenders may request proof of address, so take along a utility bill to the store too.
To locate the nearest cash advance loan store, please navigate to the list below and find your city.
Payday Loan Direct Lender Companies in Athens, OH
Below you will find a list of payday loan companies offering their services in Athens, Ohio. If you can't find a lender near your location in Athens, consider applying in a nearby city in Ohio. 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 Athens, 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.