Payday Loans in Cambridge, Ohio
Incidents happen, and we usually wind up in a situation where we have to cover some unforeseen costs. Consider applying for a payday loan in Cambridge, Ohio, to see if you qualify.
The loan application process is swift and effortless. To be qualified, borrowers must meet a couple of basic criteria.
What is a Payday Loan? What Can It Be Used For?
A cash advance loan is where the borrower will receive a small amount of funds on a short-term agreement. This is thought of as an unsecured loan due to the fact that no collateral is needed.
When surprise bills present themselves, such as past due rent or utility payments, auto fees, medical or vet costs, and so forth, individuals frequently turn to cash advance loans.
Payday Advance Loan Requirements In Cambridge, OH
In Cambridge, Ohio, payday loan borrowers must satisfy a few criteria to qualify for a loan.
The borrower has to:
- Show proof that they live in Cambridge, OH
- Must be at least 18
- Have a steady stream of income that they can provide proof of being at least $1,000/month
- Provide up-to-date contact information like phone number and email address
- Provide their social security number
If a borrower does not meet the above rules, they will automatically be denied a payday advance loan. Make sure you have the documents required when applying for a loan.
Laws and Regulations Regarding Paycheck Advance Loans in Cambridge, Ohio
The State of Ohio has ruled paycheck advance lending legal. However, they have put forth the below rules and laws for the cash advance lending industry:
- A single lender can't extend a loan greater than $600. Borrowers are not allowed to have greater than two outstanding loans from different lenders. There is no smallest loan amount.
- The minimum loan term is not set, the longest loan term length is 31 days. In the State of Ohio, borrowers cannot rollover their loans.
- The fees and charges change for each money lender. The service fees charged by the lender on a payday loan do not fall under interest. The service fees apply to every $100 borrowed and can vary between 11-15%.
- An interest rate must be mutually settled upon. APR can range up to 369%.
Will Paycheck Advance Lenders in Cambridge, OH, Perform Credit Checks? What If I Have Poor/No Credit History At All?
Yes, the lenders we partner with will complete a credit check on you, but, even if you have no credit or dismal credit, you might still be approved for a loan given that you can show that you can repay the loan. Lenders are commonly unconcerned about your credit if you provide proof of income and a plan to pay back the loan.
Lenders will rely on a soft credit inquiry, 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 pulls are utilized for a plethora of purposes, including mortgages, credit card applications, and more.
You can still be approved for a payday loan with poor credit in Cambridge, Ohio, as long as you have proof of repayment.
So, when you apply, whether it is in person or online, double check that you have your income information available and any other documents verifying that you can pay back the loan. The more evidence you provide, the more likely your loan request will be granted.
When Will I Receive My Cash in Cambridge, OH?
When you get your money truly relies on your lender as some lenders offer same-day paycheck advance loans, which means you will see your paycheck advance loan on the same day you submit your application, 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 typically close for holidays and weekends. Therefore, if you submit your application on a Friday, you might not get your loan until Monday.
If you're searching for a same-day payday advance loan in Cambridge, Ohio, you will need to make sure you're applying by 10:30 am. Any and all same-day deposits going out that day will be approved by that time. However, you should submit an application earlier than that if possible, as it will boost the likelihood that you see your loan on the day that you apply.
One additional factor that you should know is even if the lender approves your application and posts the credit 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 advance loan, so they could possibly make an exception in releasing the money earlier.
On the whole, it's wise 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 receive it on the same day.
Consider Borrowing From Us
If you have less than great credit or no credit and are wanting to secure a cash advance loan, think about applying with us, as you most likely have a higher chance of approval.
We partner with over one hundred different lenders who provide their services online. Most of the time you will receive your money on the next business day so ensure that you plan appropriately.
Although, you can always find the closest payday loan store to you and apply in person to strengthen the chances of getting your funds on the same business day. When requesting a loan in person, ensure that you have your government ID or driver's license; a passport is sufficient. Infrequently, lenders may require proof of address, so take along a utility bill to the store too.
To find the nearest cash advance loan store, please navigate to the list below and locate your city.
Payday Loan Direct Lender Companies in Cambridge, OH
Below you will find a list of payday loan companies offering their services in Cambridge, Ohio. If you can't find a lender near your location in Cambridge, 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 Cambridge, 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.