Payday Loans in Bowling Green, Ohio
Life happens, and we usually end up in a place where we must cover some unforeseen expenses. Consider submitting an application for a payday loan in Bowling Green, OH, to see if you meet the requirements.
The loan application process is fast and painless. To be eligible, loan borrowers have to satisfy a couple of straightforward requirements.
What is a Cash Advance Loan? What Can It Cover?
A paycheck advance loan is where the borrower will be extended a small sum of cash on a short-term agreement. This is thought of as an unsecured personal loan as no collateral is expected.
When unforeseen financial needs arise, for example missed rent or utility payments, auto fixes, health or vet payments, and so on, individuals frequently turn to cash advance loans.
Payday Loan Stipulations In Bowling Green, Ohio
In Bowling Green, Ohio, paycheck advance loan borrowers need to satisfy a few requirements to be eligible for a loan.
The borrower must:
- Prove that they are a resident of Bowling Green, OH
- Must be at least 18
- Receive a steady income that they can provide proof of being at least $1,000 per month
- Provide active contact information including cell phone number and email address
- Provide their SSN
If a borrower does not abide by the above requirements, they will immediately be denied a cash advance loan. Ensure that you possess the documentation required when submitting your application.
Laws and Rules Regarding Payday Loans in Bowling Green, Ohio
The State of Ohio has ruled payday advance lending legal. Although, they have enacted the below rules and regulations for the payday advance lending industry:
- An individual money lender can't offer a loan greater than $600. Borrowers are not allowed to have more than two active loans from different lenders. There is no smallest loan amount.
- There is no minimum loan term, the maximum loan term length is 31 days. In the State of Ohio, borrowers are not allowed to rollover their loans.
- The fees and charges are different for each money 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 vary from 11% up to 15%.
- An interest rate must be mutually decided upon. APR can be as much as 369%.
Will Payday Lenders in Bowling Green, OH, Complete Credit Checks? What If I Have Poor/No Credit History At All?
Yes, the lenders we have a relationship with will complete a credit check on you, but, even if you possess no credit or poor credit, you might still be eligible for a loan provided you can show that you are able to pay back the loan. Lenders are usually unbothered by your credit history if you possess proof of income and a strategy to pay back the loan.
Lenders will conduct a soft credit check, which will not impact your credit score. This is simply to get a feel of your credit history and basic information.
A hard credit inquiry, alternatively, requires your explicit consent. These credit checks are utilized for various purposes, such as mortgages, credit cards, and more.
You can still qualify for a payday loan with bad credit in Bowling Green, Ohio, as long as you have proof of repayment.
So, when you apply, albeit in person or online, double check that you have your income information ready and any other documents verifying that you can pay back the loan. The more evidence you possess, the better chance you are to be approved.
When Will I Receive My Deposit in Bowling Green, Ohio?
When you see your deposit actually relies on your lender as some lenders provide same-day payday loans, which means you will receive your payday loan on the same day you apply, as long as you're approved.
Most of the time, however, lenders will send the borrower their lump sum on the following business day. Businesses usually close for holidays and weekends. So, if you apply on a Friday, you may not get your cash until Monday.
If you're looking for a same-day payday advance loan in Bowling Green, Ohio, you will need to ensure you're applying by 10:30 am. All same-day payments going out that day will be approved by that deadline. However, you should submit an application earlier than that if possible, as it will boost the likelihood that you see your deposit on the day that you apply.
One additional factor that you should know is despite if the lender grants your loan request and posts the loan to your bank account, sometimes the bank won't release that deposit right away. It's important to let your bank know that you plan to get a paycheck advance loan, so they could possibly make an exception in releasing the loan earlier.
Overall, it's best to prepare in advance to get your deposit on the next business day. That way, you're not left in the lurch if you cannot get it on the same day.
Think About Borrowing From Us
If you have underwhelming credit or no credit and are needing to get a paycheck advance loan, consider applying with us, as you probably have a better chance of approval.
We partner with more than one hundred different lenders who provide their services online. Often you will get your loan on the following business day so ensure that you plan accordingly.
However, you can always find the closest payday loan storefront to you and apply in person to boost the chances of getting your loan 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 request proof of address, so take along a utility bill to the store as well.
To locate the nearest payday advance loan storefront, please refer to the list below and locate your city.
Payday Loan Direct Lender Companies in Bowling Green, OH
Below you will find a list of payday loan companies offering their services in Bowling Green, Ohio. If you can't find a lender near your location in Bowling Green, 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 Bowling Green, 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.