Payday Loans in Fairfield, Ohio
Life happens, and we usually find ourselves in a situation where we must pay for some unforeseen costs. Think about applying for a payday loan in Fairfield, Ohio, to see if you meet the requirements.
The loan request process is swift and effortless. To be qualified, you must meet a few straightforward criteria.
What is a Cash Advance Loan? What Can It Pay For?
A payday advance loan is where the borrower will receive a small sum of funds on a short-term basis. This is considered an unsecured loan as no collateral is expected.
When surprise financial needs present themselves, such as past due rent or utility fees, auto bills, health or vet bills, and so on, people frequently turn to payday loans.
Payday Advance Loan Requirements In Fairfield, OH
In Fairfield, OH, payday loan borrowers must satisfy a few criteria to qualify for a loan.
The borrower is required to:
- Prove that they reside in Fairfield, Ohio
- Must be at least 18
- Have a steady income that they can provide proof of being at least $1,000/month
- Give current contact details such as cell phone number and email address
- Provide their SSN
If a borrower does not abide by the above rules, they will immediately be denied a paycheck advance loan. Make sure you possess the documentation required when submitting your application.
Laws and Regulations Concerning Payday Advance Loans in Fairfield, OH
The State of Ohio has deemed cash advance lending legal. Still, they have created the below rules and regulations for the paycheck advance lending market:
- An individual lender can't extend a loan for more than $600. Borrowers are not allowed to take out more than two outstanding 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 are not allowed to rollover their loans.
- The fees and charges vary for each loan lender. The service costs enacted by lenders on each loan or transaction are not considered interest. The service fees apply to every $100 borrowed and can vary from 11% up to 15%.
- An interest rate must be mutually agreed upon. APR can be as high as 369%.
Will Payday Lenders in Fairfield, Ohio, Complete Credit Checks? What If I Have Poor/No Credit History At All?
Yes, the lenders we have a relationship with will run a credit check on you, but, even if you have no credit or poor credit, you might still be eligible for a loan provided you can show that you can pay back the loan. Lenders are usually unconcerned about your credit history if you possess proof of income and a plan to pay back the loan.
Lenders will perform a soft credit pull, which will not impact your credit score. This is solely to get a look at your credit history and general information.
A hard credit pull, on the other hand, needs your explicit consent. These credit checks are done for various purposes, including mortgages, credit card applications, and more.
You may still qualify for a payday loan with imperfect credit in Fairfield, Ohio, provided that you can prove you will repay the loan.
Therefore, when you apply for a loan, albeit in person or online, ensure that you have your income information easily accessible and any other documents proving that you can repay the loan. The more proof you have, the better chance your loan application will be approved.
When Will I See My Loan in Fairfield, Ohio?
When you get your money truly depends on your lender as some lenders offer same-day cash advance loans, which means you will receive your cash advance loan on the same day you apply, as long as you get an approval.
Most of the time, however, lenders will give 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 might not receive your loan until Monday.
If you're needing a same-day payday advance loan in Fairfield, OH, you will need to make sure you're applying by 10:30 am. Any and all same-day funds going out that day will be approved by that deadline. However, you should request a loan earlier than that if possible, as it will increase the likelihood that you see your loan on the same day that you apply.
One more consideration that you should know is even if the lender approves your application and posts the loan to your checking account, occasionally the bank won't release that credit right away. It's paramount that you let your bank know that you plan to receive a cash advance loan, so they could possibly make an exception in releasing the deposit earlier.
Overall, it's best to prepare in advance to get your loan on the following business day. That way, you're not left in the lurch if you cannot get it on the same day.
Consider Borrowing From Us
If you possess underwhelming credit or no credit and are searching to secure a payday advance loan, think about applying through us, as you usually have a higher chance of approval.
We work with hundreds of different lenders who provide their services online. Much of the time you will see your loan on the next business day so make sure that you plan accordingly.
However, you can always locate the nearest payday advance loan storefront to you and apply in person to strengthen the chances of seeing your cash on the same day. When requesting a loan in person, ensure that you have your government ID or driver's license; a passport will work as well. Sometimes, lenders may require proof of address, so take along a utility bill to the store too.
To find the nearest paycheck advance loan store, please use the list below and locate your city.
Payday Loan Direct Lender Companies in Fairfield, OH
Below you will find a list of payday loan companies offering their services in Fairfield, Ohio. If you can't find a lender near your location in Fairfield, 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 Fairfield, 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.