Payday Loans in Mason, Ohio
Incidents happen, and we often wind up in a situation where we must pay for some unexpected expenses. Think about submitting an application for a cash advance loan in Mason, OH, to see if you are eligible.
The application process is quick and straightforward. To be qualified, loan borrowers must meet a couple of basic criteria.
What is a Cash Advance Loan? What Can It Be Put Towards?
A payday loan is where the borrower will get a small sum of funds on a short-term agreement. This is considered an unsecured loan due to the fact that no collateral is expected.
When unforeseen expenses present themselves, such as missed rent or utility bills, auto fixes, health or vet expenditures, and so on, individuals commonly seek out payday loans.
Payday Loan Requirements In Mason, OH
In Mason, OH, payday advance loan borrowers must meet several requirements to be eligible for a loan.
The borrower must:
- Prove that they reside in Mason, Ohio
- Must be 18 years old
- Receive an income that they can prove that's at least $1,000 per month
- Provide active contact details like phone number and email address
- Give their social security number
If a borrower does not meet the above rules, they will immediately be denied a payday loan. Ensure that you have the documentation needed when applying for a loan.
Laws and Regulations Concerning Cash Advance Loans in Mason, Ohio
The State of Ohio has ruled cash advance lending legal. However, they have created the below rules and regulations for the paycheck advance lending market:
- An individual lender can't offer a loan greater than $600. Borrowers cannot have more than two active loans from different lenders. There is no minimum loan amount.
- The minimum loan term is not determined, the longest loan term length is 31 days. In the State of Ohio, borrowers are not allowed to rollover their loans.
- The fees and charges change for each loan lender. The service fees enacted by lenders on a loan are not considered interest. The service fees apply to each $100 loaned and can range from 11% up to 15%.
- An interest rate is required to be mutually agreed upon. APR can be as much as 369%.
Will Payday Advance Lenders in Mason, Ohio, Perform Credit Checks? What If I Have Poor/No Credit History At All?
Yes, the lenders we partner with will run a credit check on you, but, even if you have no credit or poor credit, you may still be approved for a loan provided you can prove that you are able to pay back the loan. Lenders are typically unconcerned about your credit if you offer proof of income and a plan to pay back the loan.
Lenders will conduct a soft credit inquiry, which will not impact your credit score. This is simply to get a feel of your credit history and basic information.
A hard credit pull, on the other hand, requires your explicit consent. These credit checks are done for a plethora of purposes, such as mortgages, credit card applications, and more.
You can still qualify for a cash advance loan with poor credit in Mason, Ohio, provided that you can prove you will repay the loan.
So, when you apply for a loan, whether it is in person or online, ensure that you have your income information available and any other documents showing that you can repay the loan. The more proof you possess, the better chance your loan application will be approved.
When Will I Receive My Cash in Mason, OH?
When you see your funds truly depends on your lender as some lenders offer same-day paycheck advance loans, which means you will see your cash advance loan on the same day you apply, as long as you're approved.
Most of the time, though, lenders will give the borrower their lump sum on the following business day. Businesses usually close for holidays and weekends. Therefore, if you submit your application on a Friday, you might not see your loan until Monday.
If you're searching for a same-day payday loan in Mason, Ohio, you will need to be sure that you're applying by 10:30 am. Any and all same-day deposits going out that day will be approved by that cut-off. However, you should apply earlier than that if possible, as it will boost the likelihood that you receive your money on the day that you submit your application.
One additional factor that you should be aware of is despite if the money lender approves your application and posts the credit to your bank account, sometimes the bank won't release that deposit immediately. It's paramount that you let your bank know that you plan to get a payday advance loan, so they could possibly make an exception in releasing the deposit earlier.
On the whole, it's best to prepare in advance to get cash 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 less than great credit or no credit and are needing to secure a payday advance loan, think about applying through us, as you most likely have a higher chance of approval.
We partner with hundreds of different lenders who provide their services online. Most of the time you will receive your loan on the next business day so ensure that you plan appropriately.
Although, you can always locate the closest payday loan storefront to you and apply in person to boost the chances of getting your money on the same business day. When submitting an application in person, make sure that you have your government ID or driver's license; a passport will work as well. Sometimes, lenders may ask for proof of address, so take along a utility bill to the store as well.
To find the nearest paycheck advance loan storefront, please navigate to the list below and locate your city.
Payday Loan Direct Lender Companies in Mason, OH
Below you will find a list of payday loan companies offering their services in Mason, Ohio. If you can't find a lender near your location in Mason, 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 Mason, 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.