Payday Loans in Columbia, South Carolina
Things happen, and we often wind up in a spot where we must pay for some unforeseen costs. Consider submitting an application for a cash advance loan in Columbia, South Carolina, to see if you are eligible.
The loan request process is quick and effortless. To qualify, borrowers have to satisfy a few simple requirements.
What is a Cash Advance Loan? What Can It Cover?
A paycheck advance loan is where the borrower will be extended a small sum of funds on a short-term agreement. This is considered an unsecured loan as no collateral is required.
When unforeseen costs present themselves, such as past due rent or utility expenditures, car costs, medical or vet payments, and so on, individuals frequently rely upon paycheck advance loans.
Payday Loan Stipulations In Columbia, South Carolina
In Columbia, South Carolina, payday loan borrowers need to meet a few requirements to be eligible for a loan.
The borrower has to:
- Provide proof that they reside in Columbia, SC
- Must be 18 years old
- Receive a steady income that they can provide proof of being at least $1,000 per month
- Provide active contact details such as cell phone number and email address
- Provide their SSN
If a borrower does not meet the above criteria, they will immediately be denied a payday advance loan. Ensure that you have the documents needed when requesting a loan.
Laws and Regulations Regarding Payday Loans in Columbia, SC
The State of South Carolina has deemed payday lending legal. Still, they have created the following rules and regulations for the paycheck advance lending market:
- A single lender cannot extend a loan in excess of $600. Borrowers may not possess greater 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 South Carolina, borrowers cannot rollover their loans.
- The fees and charges are different for each loan lender. The service costs enacted by lenders on a payday loan do not fall under interest. The service fees apply to every $100 borrowed and can range between 11-15%.
- An interest rate is required to be mutually agreed upon. APR can range up to 369%.
Will Cash Advance Lenders in Columbia, South Carolina, Run Credit Checks? What If I Have Dismal/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 less than optimal credit, you may still be approved for a loan given that you can show that you are able to repay the loan. Lenders are usually unbothered by your credit if you offer proof of income and a plan to pay back the loan.
Lenders will rely on a soft credit pull, which will not impact your credit score. This is solely to get a feel of your credit history and basic information.
A hard credit pull, dissimilarly, requires your permission. These credit inquiries are done for a variety of purposes, including mortgages, credit cards, and more.
You can still be approved for a paycheck advance loan with less than great credit in Columbia, SC, as long as you can prove you will repay the loan.
Therefore, when you request a loan, whether it is in person or online, double check that you have your income information easily accessible and any other documents showing that you can pay back the loan. The more proof you show, the better chance your loan request will be granted.
When Will I See My Loan in Columbia, South Carolina?
When you get your funds actually relies on your lender as some lenders advertise same-day payday advance loans, which means you will get your payday loan on the same day you apply, as long as you're approved.
Much of the time, however, lenders will give 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 see your deposit until Monday.
If you're wanting a same-day payday advance loan in Columbia, South Carolina, you will need to be sure that you're applying by 10:30 am. All same-day loans going out that day will be approved by that time. However, you should apply earlier than that if possible, as it will increase the likelihood that you see your deposit on the day that you apply.
One additional consideration that you should understand is despite if the money lender grants your loan request and posts the loan to your checking account, sometimes the bank won't release that loan right away. It's vital that you let your bank know that you plan to get a payday loan, so they could possibly make an exception in releasing the deposit earlier.
On the whole, it's best to prepare in advance to receive money on the following 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 underwhelming credit or no credit and are searching to get a payday advance loan, consider applying with us, as you frequently have a better chance of approval.
We work with over one hundred different lenders who offer their services online. Most of the time you will see your deposit on the next business day so ensure that you plan appropriately.
However, you can always locate the nearest payday loan storefront to you and apply in person to boost the chances of receiving your cash on the same business day. When applying in person, ensure that you have your government ID or driver's license; a passport is sufficient. Now and again, lenders may require proof of address, so take along a utility bill to the store as well.
To find the nearest payday loan storefront, please navigate to the list below and find your city.
Payday Loan Direct Lender Companies in Columbia, SC
Below you will find a list of payday loan companies offering their services in Columbia, South Carolina. If you can't find a lender near your location in Columbia, consider applying in a nearby city in South Carolina. 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 Columbia, 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.