Payday Loans in Bellefontaine, Ohio
Life happens, and we often find ourselves in a spot where we have to cover some unforeseen costs. Think about submitting an application for a payday advance loan in Bellefontaine, Ohio, to see if you qualify.
The loan process is fast and simple. To be qualified, you have to satisfy a couple of general conditions.
What is a Paycheck Advance Loan? What Can It Pay For?
A cash advance loan is where the borrower will get a small sum of money on a short-term contract. This is deemed to be an unsecured loan due to the fact that no collateral is required.
When unexpected costs arise, like missed rent or utility payments, car repairs, medical or vet fees, and so on, people frequently rely upon cash advance loans.
Cash Advance Loan Stipulations In Bellefontaine, OH
In Bellefontaine, OH, paycheck advance loan borrowers must meet several stipulations to be eligible for a loan.
The borrower must:
- Show proof that they are a resident of Bellefontaine, OH
- Must be at least 18
- Have a steady stream of income that they can prove that's at least $1,000/month
- Give active contact details such as cell phone number and email address
- Provide their SSN
If a borrower does not abide by the above requirements, they will automatically be denied a payday advance loan. Make sure you possess the documents required when applying.
Laws and Rules Regarding Paycheck Advance Loans in Bellefontaine, OH
The State of Ohio has deemed payday lending legal. However, they have put forth the following rules and regulations for the cash advance lending industry:
- An individual lender cannot offer a loan for more than $600. Borrowers are not allowed to have greater than two unpaid 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 Ohio, borrowers may not rollover their loans.
- The fees and charges vary for each lender. The service costs enacted by the lender on a loan are not considered interest. The service fees apply to each $100 borrowed and can range between 11-15%.
- An interest rate is required to be mutually settled upon. APR can range up to 369%.
Will Payday Lenders in Bellefontaine, OH, Perform Credit Checks? What If I Have Bad/No Credit History At All?
Yes, the lenders we partner with will complete a credit check on you, but, even if you possess no credit or bad credit, you might still be approved for a loan given that you can prove that you can pay back the loan. Lenders are commonly unbothered by your credit if you provide proof of income and a plan to repay the loan.
Lenders will perform 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 inquiry, alternatively, needs your permission. These credit checks are used for a variety of purposes, such as mortgages, credit cards, and more.
You can still qualify for a payday advance loan with bad credit in Bellefontaine, OH, if you can prove you will repay the loan.
So, when you apply for a loan, albeit in person or online, ensure that you have your income information easily accessible and any other documents showing that you can repay the loan. The more evidence you possess, the better chance your loan application will be approved.
When Will I Get My Loan in Bellefontaine, OH?
When you see your deposit really depends on your lender as some lenders provide same-day payday loans, which means you will see your payday advance loan on the same day you request a loan, as long as you receive an approval.
Most of the time, though, lenders will send the borrower their lump sum on the following business day. Businesses often close for holidays and weekends. Because of this, if you apply on a Friday, you may not get your deposit until Monday.
If you're searching for a same-day payday loan in Bellefontaine, OH, you will need to be sure that you're applying by 10:30 am. Any and all same-day deposits going out that day will be approved by that cut-off. However, you should submit an application earlier than that if possible, as it will increase the likelihood that you get your funds on the same day that you apply.
One more consideration that you should be aware of is despite if the lender approves your application and posts the credit to your bank account, occasionally the bank won't release that deposit right away. It's vital that you let your bank know that you plan to receive a payday advance loan, so they could possibly make an exception in releasing the deposit earlier.
Overall, it's wise to prepare ahead of time to get your funds on the next business day. That way, you're not left in the lurch if you cannot get it on the same day.
Consider Working With Us
If you possess bad credit or no credit and are needing to secure a payday advance loan, think about applying with us, as you frequently have a higher chance of approval.
We partner with more than one hundred different lenders who offer their services online. Most of the time you will see your cash on the next business day so ensure that you plan appropriately.
However, you can always locate the nearest payday advance loan storefront to you and apply in person to boost the chances of receiving your money on the same business day. When submitting an application in person, make sure that you have your government ID or driver's license; a passport is sufficient. Occasionally, lenders may require proof of address, so take along a utility bill to the store too.
To locate the nearest payday loan storefront, please use the list below and search for your city.
Payday Loan Direct Lender Companies in Bellefontaine, OH
Below you will find a list of payday loan companies offering their services in Bellefontaine, Ohio. If you can't find a lender near your location in Bellefontaine, 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 Bellefontaine, 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.