Payday Loans in Union, Ohio
Events happen, and we usually wind up in a place where we have to cover some unexpected costs. Think about submitting an application for a payday advance loan in Union, Ohio, to see if you meet the requirements.
The loan request process is swift and simple. To be eligible, you must satisfy a couple of straightforward criteria.
What is a Payday Advance Loan? What Can It Pay For?
A payday advance loan is where the borrower will receive a petite amount of money on a short-term basis. This is deemed to be an unsecured loan because no collateral is required.
When surprise costs come up, for example past due rent or utility expenditures, car fees, medical or vet payments, and so forth, individuals frequently seek out payday advance loans.
Cash Advance Loan Requirements In Union, OH
In Union, Ohio, payday loan borrowers need to satisfy a few stipulations to qualify for a loan.
The borrower has to:
- Provide proof that they reside in Union, OH
- Must be 18 or older
- Have a steady income that they can prove that's at least $1,000/month
- Provide up-to-date contact information including phone number and email address
- Give their social security number
If a borrower does not meet the above requirements, they will automatically be denied a paycheck advance loan. Ensure that you can provide the documentation needed when requesting a loan.
Laws and Regulations Concerning Cash Advance Loans in Union, Ohio
Ohio has ruled paycheck advance lending legal. However, they have set the below rules and regulations for the cash advance lending industry:
- A single lender can't offer a loan for more than $600. Borrowers cannot have greater than two active loans from different lenders. There is no minimum loan amount.
- The minimum loan term is not set, the maximum loan term length is 31 days. In the State of Ohio, borrowers are unable to rollover their loans.
- The fees and charges vary for each lender. The service fees enacted 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 is required to be mutually decided upon. APR can be as high as 369%.
Will Payday Advance Lenders in Union, Ohio, Perform Credit Checks? What If I Have Poor/No Credit History At All?
Yes, the lenders we partner with will complete a credit check on you, still, even if you possess no credit or poor credit, you may still be approved 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 plan to repay the loan.
Lenders will use a soft credit inquiry, which will not impact your credit score. This is only to get a feel of your credit history and basic information.
A hard credit pull, dissimilarly, must have your permission. These credit inquiries are done for various purposes, including mortgages, credit card applications, and more.
You might still be approved for a payday loan with poor credit in Union, OH, provided that you can prove you will repay the loan.
So, when you apply, albeit in person or online, ensure that you have your income information available and any other documents verifying that you can pay back the loan. The more evidence you have, the more likely your loan request will be granted.
When Will I See My Cash in Union, OH?
When you receive your deposit actually depends on the lender as some lenders provide same-day paycheck advance loans, which means you will receive your cash advance loan on the same day you apply, as long as you get an approval.
Much of the time, however, lenders will give the borrower their lump sum on the next business day. Businesses often close for holidays and weekends. Therefore, if you apply on a Friday, you might not get your loan until Monday.
If you're looking for a same-day cash advance loan in Union, OH, you will need to ensure you're applying by 10:30 am. All same-day loans going out that day will be approved by that time. However, you should submit an application earlier than that if able, as it will increase the likelihood that you get your cash on the day that you submit your application.
One other consideration that you should be aware of is even if the money lender approves your application and posts the funds to your bank account, occasionally the bank won't release that deposit at that time. 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 deposit earlier.
On the whole, it's best to prepare in advance to receive your deposit on the following business day. That way, you're not out of luck if you cannot receive it on the same day.
Consider Borrowing From PaydayLoanRadar
If you have underwhelming credit or no credit and are looking to secure a payday loan, think about applying with us, as you usually have a better chance of approval.
We work with hundreds of different lenders who offer their services online. Frequently you will see your deposit on the following business day so make sure that you plan appropriately.
However, you can always locate the nearest payday advance loan store to you and apply in person to strengthen the chances of seeing your loan on the same day. When requesting a loan in person, make sure that you have your government ID or driver's license; a passport is sufficient. Infrequently, lenders may require proof of address, so take along a utility bill to the store as well.
To find the nearest paycheck advance loan storefront, please use the list below and search for your city.
Payday Loan Direct Lender Companies in Union, OH
Below you will find a list of payday loan companies offering their services in Union, Ohio. If you can't find a lender near your location in Union, 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 Union, 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.