Payday Loans in Kenton, Ohio
Things happen, and we usually wind up in a situation where we must cover some unforeseen bills. Consider submitting an application for a payday advance loan in Kenton, OH, to see if you are eligible.
The application process is quick and simple. To be eligible, you must satisfy a few general requirements.
What is a Payday Advance Loan? What Can It Pay For?
A payday loan is where the borrower will receive a petite sum of money on a short-term agreement. This is deemed to be an unsecured personal loan because no collateral is required.
When unforeseen costs present themselves, like missed rent or utility fees, vehicle repairs, medical or vet costs, and so on, people commonly turn to cash advance loans.
Paycheck Advance Loan Criteria In Kenton, Ohio
In Kenton, Ohio, cash advance loan borrowers need to meet several criteria to be eligible for a loan.
The borrower must:
- Show proof that they are a resident of Kenton, OH
- Must be 18 or older
- Receive a steady income that they can prove that's at least $1,000 per month
- Give up-to-date contact information like cell phone number and email address
- Provide their social security number
If a borrower does not satisfy the above rules, they will immediately be denied a payday loan. Make sure you possess the documents needed when submitting your application.
Laws and Regulations Concerning Paycheck Advance Loans in Kenton, Ohio
Ohio has deemed payday lending legal. However, they have enacted the below rules and laws for the cash advance lending industry:
- A single lender can't offer a loan for more than $600. Borrowers may not take out greater than two active loans from different lenders. There is no minimum loan amount.
- The minimum loan term is not determined, the maximum loan term length is 31 days. In the State of Ohio, borrowers are unable to rollover their loans.
- The fees and charges change for each money lender. The service fees enacted by lenders on a loan do not fall under interest. The service fees apply to each $100 borrowed and can vary from 11% up to 15%.
- An interest rate is required to be mutually agreed upon. APR can range up to 369%.
Will Paycheck Advance Lenders in Kenton, Ohio, Complete Credit Checks? What If I Have Bad/No Credit History At All?
Yes, the lenders we partner with will do a credit check on you, still, even if you possess no credit or less than optimal credit, you may still be eligible for a loan given that you can show that you can repay the loan. Lenders are generally unconcerned about your credit history if you provide proof of income and a plan to repay the loan.
Lenders will rely on a soft credit check, which will have no impact on your credit score. This is only to get a feel of your credit history and general information.
A hard credit inquiry, on the other hand, must have your permission. These credit pulls are done for a plethora of purposes, such as mortgages, credit card applications, and more.
You may still qualify for a payday advance loan with poor credit in Kenton, OH, as long as you have proof of repayment.
So, when you apply for a loan, whether it is in person or online, double check that you have your income information easily accessible and any other documents proving 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 Funds in Kenton, Ohio?
When you receive your loan truly depends on the lender as some lenders provide same-day paycheck advance loans, which means you will get your paycheck advance loan on the same day you apply, as long as you receive an approval.
Much of the time, however, lenders will give the borrower their lump sum on the next business day. Businesses generally close for holidays and weekends. Because of this, if you submit your application on a Friday, you may not receive your cash until Monday.
If you're looking for a same-day payday advance loan in Kenton, OH, you will need to make sure you're applying by 10:30 am. 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 able, as it will increase the likelihood that you receive your deposit on the day that you apply.
One additional consideration that you should understand is despite if the money lender grants your loan request and posts the credit to your bank account, sometimes the bank won't release that credit immediately. It's paramount that you let your bank know that you plan to receive a paycheck advance loan, so they might make an exception in releasing the funds earlier.
On the whole, it's wise to prepare in advance to get your loan on the next business day. That way, you're not surprised if you cannot receive it on the same day.
Think About Working With PaydayLoanRadar
If you have poor credit or no credit and are searching to secure a cash advance loan, consider applying with us, as you frequently have a better chance of approval.
We work with over one hundred different lenders who provide their services online. Frequently you will see your funds on the following business day so make sure that you plan correctly.
Although, you can always find the nearest paycheck advance loan storefront to you and apply in person to increase the chances of getting your money on the same day. When applying in person, make sure that you have your government ID or driver's license; a passport is sufficient. Sometimes, 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 Kenton, OH
Below you will find a list of payday loan companies offering their services in Kenton, Ohio. If you can't find a lender near your location in Kenton, 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 Kenton, 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.