Payday Loans in Lebanon, Ohio
Events happen, and we usually wind up in a place where we must pay for some unforeseen expenses. Consider submitting an application for a cash advance loan in Lebanon, OH, to see if you qualify.
The loan process is swift and simple. To qualify, borrowers have to satisfy a few general requirements.
What is a Cash Advance Loan? What Can It Be Put Towards?
A paycheck advance loan is where the borrower will get a petite sum of money on a short-term agreement. This is considered an unsecured loan as no collateral is needed.
When surprise costs arise, such as missed rent or utility payments, auto bills, health or vet bills, and so on, individuals often turn to cash advance loans.
Payday Loan Criteria In Lebanon, OH
In Lebanon, Ohio, payday loan borrowers are required to meet a few requirements to be eligible for a loan.
The borrower is required to:
- Prove that they reside in Lebanon, OH
- Must be 18 years old
- Have a steady income that they can provide proof of being at least $1,000 per month
- Provide active contact information such as cell phone number and email address
- Give their SSN
If a borrower does not meet the above requirements, they will automatically be denied a payday advance loan. Make sure you have the documentation needed when applying.
Laws and Regulations Regarding Paycheck Advance Loans in Lebanon, Ohio
Ohio has deemed paycheck advance lending legal. However, they have put forth the following rules and laws for the paycheck advance lending industry:
- An individual lender cannot offer a loan greater than $600. Borrowers may not take out greater than two outstanding loans from different lenders. There is no minimum loan amount.
- There is no minimum loan term, the longest loan term length is 31 days. In Ohio, borrowers are unable to rollover their loans.
- The fees and charges vary for each money lender. The service fees enacted by the lender on a payday loan do not fall under interest. The service fees apply to every $100 loaned and can range from 11% up to 15%.
- An interest rate is required to be mutually agreed upon. APR can be as high as 369%.
Will Paycheck Advance Lenders in Lebanon, OH, Complete Credit Checks? What If I Have Bad/No Credit History At All?
Yes, the lenders we have a relationship with will perform a credit check on you, still, even if you have no credit or less than optimal credit, you might still be approved for a loan provided you can prove that you are able to pay back the loan. Lenders are typically unbothered by your credit if you possess proof of income and a plan to pay back the loan.
Lenders will perform a soft credit inquiry, which will not impact your credit score. This is only to get an idea of your credit history and basic information.
A hard credit inquiry, alternatively, must have your permission. These credit checks are performed for various purposes, such as mortgages, credit cards, and more.
You might still qualify for a cash advance loan with bad credit in Lebanon, Ohio, provided that you can prove you will repay the loan.
Therefore, when you request a loan, albeit in person or online, ensure that you have your income information available and any other documents showing that you can pay back the loan. The more proof you provide, the more likely your loan request will be granted.
When Will I Receive My Money in Lebanon, Ohio?
When you receive your funds really relies on the lender as some lenders offer same-day cash advance loans, which means you will see your payday advance loan on the same day you submit your application, as long as you receive an approval.
Much of the time, however, lenders will give the borrower their lump sum on the following business day. Businesses typically close for holidays and weekends. So, if you apply on a Friday, you may not see your funds until Monday.
If you're searching for a same-day payday loan in Lebanon, OH, you will need to be sure that you're applying by 10:30 am. Any and all same-day funds going out that day will be approved by that cut-off. However, you should submit an application earlier than that if possible, as it will boost the likelihood that you receive your money on the same day that you apply.
One more factor that you should know is despite if the money lender grants your loan request and posts the deposit to your checking account, sometimes the bank won't release that funds at that time. 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 funds earlier.
On the whole, it's best to prepare ahead of time to get your deposit on the following 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 possess poor credit or no credit and are looking to secure a payday advance loan, think about applying through us, as you most likely have a better chance of approval.
We work with more than one hundred different lenders who offer their services online. Much of the time you will receive your loan on the next business day so ensure that you plan appropriately.
However, you can always find the nearest paycheck advance loan store to you and apply in person to strengthen the chances of receiving your loan on the same day. When applying in person, ensure that you have your government ID or driver's license; a passport is sufficient. Sometimes, lenders may ask for proof of address, so bring a utility bill to the store as well.
To locate the nearest payday loan store, please use the list below and locate your city.
Payday Loan Direct Lender Companies in Lebanon, OH
Below you will find a list of payday loan companies offering their services in Lebanon, Ohio. If you can't find a lender near your location in Lebanon, 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 Lebanon, 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.