Payday Loans in Bexley, Ohio
Incidents happen, and we usually end up in a place where we have to cover some surprise expenses. Consider submitting an application for a cash advance loan in Bexley, Ohio, to see if you are eligible.
The loan request process is quick and effortless. To qualify, loan borrowers must satisfy a few general criteria.
What is a Payday Loan? What Can It Be Put Towards?
A cash advance loan is where the borrower will be extended a petite amount of cash on a short-term agreement. This is deemed to be an unsecured loan because no collateral is needed.
When unexpected expenses arise, for example late rent or utility costs, auto costs, medical or vet costs, and so forth, people usually rely upon paycheck advance loans.
Payday Loan Requirements In Bexley, Ohio
In Bexley, Ohio, cash advance loan borrowers need to satisfy several requirements to be eligible for a loan.
The borrower has to:
- Show proof that they live in Bexley, OH
- Must be at least 18
- Receive a steady stream of income that they can prove that's at least $1,000 per month
- Give up-to-date contact information such as phone number and email address
- Give their SSN
If a borrower does not meet the above criteria, they will immediately be denied a paycheck advance loan. Make sure you have the documentation needed when applying.
Laws and Rules Concerning Payday Loans in Bexley, OH
The State of Ohio has ruled payday advance lending legal. However, they have created the following rules and regulations for the payday lending market:
- An individual money lender cannot extend a loan in excess of $600. Borrowers cannot possess greater than two active loans from different lenders. There is no minimum loan amount.
- There is no minimum loan term, the maximum loan term length is 31 days. In Ohio, borrowers may not rollover their loans.
- The fees and charges are different for each money lender. The service fees charged by lenders on each loan or transaction are not considered interest. The service fees apply to every $100 loaned and can vary from 11% up to 15%.
- An interest rate is required to be mutually decided upon. APR can range up to 369%.
Will Paycheck Advance Lenders in Bexley, 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, but, even if you possess no credit or dismal credit, you may still be approved for a loan provided you can show that you can repay the loan. Lenders are typically unbothered by your credit history if you offer proof of income and a strategy to pay back the loan.
Lenders will use a soft credit check, which will not impact your credit score. This is solely to get a feel of your credit history and basic information.
A hard credit inquiry, alternatively, must have your explicit consent. These credit pulls are done for a variety of purposes, including mortgages, credit card applications, and more.
You can still qualify for a cash advance loan with bad credit in Bexley, Ohio, provided that 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 at hand and any other documents proving that you can repay the loan. The more proof you show, the better chance your loan application will be approved.
When Will I Receive My Funds in Bexley, Ohio?
When you see your funds actually relies on the lender as some lenders provide same-day payday loans, which means you will see your cash advance loan on the same day you submit your application, as long as you get an approval.
Much of the time, though, lenders will send the borrower their lump sum on the following business day. Businesses often close for holidays and weekends. So, if you submit your application on a Friday, you may not get your cash until Monday.
If you're searching for a same-day paycheck advance loan in Bexley, OH, you will need to ensure you're applying by 10:30 am. All same-day deposits going out that day will be approved by that deadline. However, you should apply earlier than that if able, as it will boost the likelihood that you receive your money on the same day that you apply.
One other consideration that you should know is despite if the lender approves your application and posts the deposit to your checking account, sometimes the bank won't release that funds at that time. It's important to let your bank know that you plan to get a payday loan, so they might make an exception in releasing the cash earlier.
On the whole, it's best to prepare ahead of time to receive your deposit on the next business day. That way, you're not surprised if you cannot get it on the same day.
Think About Borrowing From Us
If you possess poor credit or no credit and are searching to get a paycheck advance loan, think about applying through us, as you most likely have a better chance of approval.
We partner with over one hundred different lenders who offer their services online. Often you will see your funds on the following business day so make sure that you plan appropriately.
However, you can always find the closest payday loan store to you and apply in person to increase the chances of seeing your loan on the same day. When submitting an application in person, ensure that you have your government ID or driver's license; a passport is sufficient. Now and again, lenders may ask for proof of address, so take along a utility bill to the store too.
To find the nearest cash advance loan store, please use the list below and locate your city.
Payday Loan Direct Lender Companies in Bexley, OH
Below you will find a list of payday loan companies offering their services in Bexley, Ohio. If you can't find a lender near your location in Bexley, 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 Bexley, 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.