Payday Loans in Marion, Ohio
Things happen, and we often wind up in a place where we have to pay for some unexpected expenses. Think about submitting an application for a payday advance loan in Marion, Ohio, to see if you are eligible.
The loan application process is swift and effortless. To qualify, loan borrowers must meet a few basic criteria.
What is a Paycheck Advance Loan? What Can It Be Used For?
A cash advance loan is where the borrower will get a petite sum of cash on a short-term basis. This is deemed to be an unsecured personal loan as no collateral is required.
When unforeseen bills come up, for example late rent or utility bills, car costs, health or vet bills, and so forth, individuals usually rely upon payday loans.
Paycheck Advance Loan Criteria In Marion, OH
In Marion, OH, paycheck advance loan borrowers must satisfy a few stipulations to be eligible for a loan.
The borrower has to:
- Provide proof that they reside in Marion, Ohio
- Must be 18 or older
- Receive a steady stream of income that they can provide proof of being at least $1,000/month
- Give active contact details like phone number and email address
- Provide their social security number
If a borrower does not meet the above criteria, they will immediately be denied a cash advance loan. Ensure that you can provide the documents required when requesting a loan.
Laws and Regulations Regarding Payday Loans in Marion, Ohio
The State of Ohio has ruled cash advance lending legal. Although, they have put forth the following rules and regulations for the cash advance lending industry:
- An individual money lender can't offer a loan for more than $600. Borrowers may not have greater than two outstanding loans from different lenders. There is no smallest loan amount.
- The minimum loan term is not determined, the maximum loan term length is 31 days. In Ohio, borrowers may not rollover their loans.
- The fees and charges vary for each lender. The service fees charged by the lender on each loan or transaction do not fall under interest. The service fees apply to each $100 loaned and can vary between 11-15%.
- An interest rate must be mutually agreed upon. APR can be as high as 369%.
Will Cash Advance Lenders in Marion, OH, Complete Credit Checks? What If I Have Poor/No Credit History At All?
Yes, the lenders we have a relationship with will do a credit check on you, still, even if you possess no credit or bad credit, you may still be eligible for a loan provided you can prove that you are able to pay back the loan. Lenders are typically unconcerned about your credit history if you offer 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 basic information.
A hard credit inquiry, dissimilarly, requires your explicit consent. These credit pulls are utilized for a plethora of purposes, such as mortgages, credit cards, and more.
You might still be approved for a payday advance loan with less than great credit in Marion, OH, if you have proof of repayment.
Therefore, when you request a loan, albeit in person or online, make sure that you have your income information easily accessible and any other documents verifying that you can pay back the loan. The more evidence you possess, the more likely you are to be approved.
When Will I Get My Loan in Marion, OH?
When you see your cash actually relies on your lender as some lenders offer same-day paycheck advance loans, which means you will see your payday loan on the same day you request a loan, as long as you get an approval.
Much of the time, however, lenders will send the borrower their lump sum on the next business day. Businesses generally close for holidays and weekends. Because of this, if you apply on a Friday, you might not receive your money until Monday.
If you're looking for a same-day payday advance loan in Marion, 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 able, as it will increase the likelihood that you get your funds on the day that you apply.
One additional consideration that you should be aware of is even if the lender approves your application and posts the credit to your checking account, sometimes the bank won't release that loan immediately. It's vital that you let your bank know that you plan to receive a payday loan, so they could possibly make an exception in releasing the loan earlier.
Overall, it's best to prepare ahead of time to receive money on the following business day. That way, you're not surprised if you cannot receive it on the same day.
Think About Borrowing From Us
If you have poor credit or no credit and are wanting to get a cash advance loan, think about applying with us, as you usually have a higher chance of approval.
We partner with hundreds of different lenders who provide their services online. Often you will get your cash on the next business day so ensure that you plan accordingly.
However, you can always locate the closest paycheck advance loan store to you and apply in person to increase the chances of seeing your loan on the same day. When applying in person, ensure that you have your government ID or driver's license; a passport will work as well. Sometimes, lenders may request proof of address, so take along a utility bill to the store too.
To locate the nearest cash advance loan store, please use the list below and locate your city.
Payday Loan Direct Lender Companies in Marion, OH
Below you will find a list of payday loan companies offering their services in Marion, Ohio. If you can't find a lender near your location in Marion, 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 Marion, 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.