Payday Loans in Piqua, Ohio
Life happens, and we often end up in a situation where we have to cover some surprise bills. Think about applying for a paycheck advance loan in Piqua, Ohio, to see if you meet the requirements.
The loan request process is fast and straightforward. To be eligible, loan borrowers must meet a couple of simple criteria.
What is a Payday Loan? What Can It Pay For?
A payday advance loan is where the borrower will be extended a small amount of cash on a short-term contract. This is thought of as an unsecured personal loan due to the fact that no collateral is required.
When unexpected bills present themselves, like past due rent or utility bills, car repairs, medical or vet expenditures, and so forth, people commonly seek out payday advance loans.
Cash Advance Loan Requirements In Piqua, Ohio
In Piqua, OH, paycheck advance loan borrowers must satisfy several stipulations to qualify for a loan.
The borrower must:
- Show proof that they live in Piqua, Ohio
- Must be 18 or older
- Receive a steady stream of income that they can prove that's at least $1,000/month
- Give up-to-date contact details including phone number and email address
- Provide their social security number
If a borrower does not abide by the above criteria, they will immediately be denied a payday loan. Ensure that you can provide the documents required when submitting your application.
Laws and Rules Concerning Payday Advance Loans in Piqua, OH
The State of Ohio has ruled cash advance lending legal. Although, they have enacted the below rules and regulations for the payday lending market:
- A single money lender can't extend a loan for more than $600. Borrowers are not allowed to have more than two active 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 the State of Ohio, borrowers may not rollover their loans.
- The fees and charges are different for each lender. The service costs charged by lenders on a loan are not considered interest. The service fees apply to each $100 borrowed and can vary between 11-15%.
- An interest rate must be mutually decided upon. APR can range up to 369%.
Will Payday Advance Lenders in Piqua, Ohio, Run Credit Checks? What If I Have Dismal/No Credit History At All?
Yes, the lenders we work with will do a credit check on you, but, even if you possess no credit or bad credit, you may still be eligible for a loan as long as you can show that you can pay back the loan. Lenders are generally unconcerned about your credit history if you have proof of income and a strategy to repay the loan.
Lenders will rely on a soft credit check, which will have no impact on your credit score. This is solely to get a look at your credit history and general information.
A hard credit check, dissimilarly, needs your explicit consent. These credit pulls are done for a variety of purposes, including mortgages, credit card applications, and more.
You can still be approved for a paycheck advance loan with less than great credit in Piqua, OH, if you have proof of repayment.
So, when you apply, whether it is in person or online, double check that you have your income information at hand 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 Piqua, OH?
When you get your cash truly depends on your lender as some lenders provide same-day payday advance loans, which means you will get your cash advance loan on the same day you apply, as long as you're approved.
Most of the time, though, lenders will send the borrower their lump sum on the next business day. Businesses often close for holidays and weekends. Therefore, if you submit your application on a Friday, you might not get your cash until Monday.
If you're needing a same-day payday advance loan in Piqua, Ohio, you will need to make sure you're applying by 10:30 am. All same-day loans 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 submit your application.
One additional consideration that you should be aware of is even if the lender approves your application and posts the funds to your bank, occasionally the bank won't release that deposit immediately. It's vital that you let your bank know that you plan to get a payday advance loan, so they might make an exception in releasing the money earlier.
Overall, it's wise to prepare in advance to receive your funds on the next business day. That way, you're not surprised if you cannot receive it on the same day.
Consider Working With PaydayLoanRadar
If you have underwhelming credit or no credit and are searching to get a payday loan, consider applying with us, as you frequently have a higher chance of approval.
We partner with hundreds of different lenders who provide their services online. Often you will see your money on the following business day so make sure that you plan accordingly.
Although, you can always locate the closest payday advance loan storefront to you and apply in person to increase 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. Now and again, lenders may request proof of address, so take along a utility bill to the store too.
To find the nearest payday advance loan storefront, please navigate to the list below and find your city.
Payday Loan Direct Lender Companies in Piqua, OH
Below you will find a list of payday loan companies offering their services in Piqua, Ohio. If you can't find a lender near your location in Piqua, 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 Piqua, 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.