Payday Loans in Oxford, Ohio
Events happen, and we often end up in a situation where we must pay for some surprise expenses. Think about submitting an application for a paycheck advance loan in Oxford, OH, to see if you are eligible.
The application process is quick and simple. To be qualified, borrowers have to meet a couple of simple criteria.
What is a Cash Advance Loan? What Can It Cover?
A payday advance loan is where the borrower will get a small amount of cash on a short-term agreement. This is considered an unsecured personal loan because no collateral is required.
When unforeseen expenses present themselves, such as past due rent or utility payments, vehicle fees, health or vet costs, and so forth, people commonly rely upon paycheck advance loans.
Paycheck Advance Loan Requirements In Oxford, OH
In Oxford, OH, payday loan borrowers need to satisfy a few criteria to be eligible for a loan.
The borrower must:
- Show proof that they live in Oxford, OH
- Must be 18 or older
- Have a steady stream of income that they can prove that's at least $1,000 per month
- Provide up-to-date contact details including 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 documents needed when submitting your application.
Laws and Rules Concerning Payday Loans in Oxford, OH
The State of Ohio has ruled payday advance lending legal. Although, they have put forth the below rules and laws for the paycheck advance lending market:
- An individual money lender can't extend 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 maximum 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 fees charged by lenders on a payday loan are not considered interest. The service fees apply to each $100 borrowed and can vary from 11% up to 15%.
- An interest rate must be mutually settled upon. APR can be as high as 369%.
Will Cash Advance Lenders in Oxford, Ohio, Perform Credit Checks? What If I Have Poor/No Credit History At All?
Yes, the lenders we work with will complete a credit check on you, still, even if you possess no credit or poor credit, you might still be eligible for a loan provided you can show that you are able to pay back the loan. Lenders are generally unbothered by your credit if you possess proof of income and a plan to repay the loan.
Lenders will conduct a soft credit inquiry, which will not impact your credit score. This is only to get a feel of your credit history and general information.
A hard credit check, dissimilarly, needs your explicit consent. These credit checks are utilized for a plethora of purposes, such as mortgages, credit card applications, and more.
You can still be approved for a payday advance loan with less than great credit in Oxford, OH, as long as you can prove you will repay the loan.
So, when you apply for a loan, whether it is in person or online, double check that you have your income information ready and any other documents verifying that you can repay the loan. The more evidence you possess, the better chance your loan application will be approved.
When Will I Get My Loan in Oxford, Ohio?
When you receive your cash truly depends on the lender as some lenders offer same-day payday advance loans, which means you will receive your payday loan on the same day you request a loan, as long as you're approved.
Much of the time, however, lenders will send the borrower their lump sum on the next business day. Businesses typically close for holidays and weekends. Because of this, if you apply on a Friday, you may not get your money until Monday.
If you're searching for a same-day payday loan in Oxford, OH, you will need to be sure that you're applying by 10:30 am. Any and all same-day loans 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 see your money on the same day that you apply.
One additional consideration that you should understand is despite if the lender approves your application and posts the deposit to your checking account, occasionally the bank won't release that funds immediately. It's important to let your bank know that you plan to get a paycheck advance loan, so they might make an exception in releasing the money earlier.
Overall, it's best to prepare in advance to get your loan on the next business day. That way, you're not left in the lurch if you cannot receive it on the same day.
Think About Working With PaydayLoanRadar
If you possess poor credit or no credit and are needing to get a payday loan, consider applying through us, as you probably have a better chance of approval.
We partner with hundreds of different lenders who provide their services online. Frequently you will see your cash on the following business day so ensure that you plan correctly.
However, you can always find the closest cash advance loan store to you and apply in person to increase the chances of seeing your cash on the same business day. When submitting an application 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 storefront, please use the list below and find your city.
Payday Loan Direct Lender Companies in Oxford, OH
Below you will find a list of payday loan companies offering their services in Oxford, Ohio. If you can't find a lender near your location in Oxford, 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 Oxford, 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.