Payday Loans in Florence, South Carolina

Life happens, and we often find ourselves in a spot where we have to cover some surprise bills. Think about applying for a paycheck advance loan in Florence, SC, to see if you meet the requirements.

The application process is quick and effortless. To qualify, loan borrowers must satisfy a few basic criteria.

What is a Payday Advance Loan? What Can It Cover?

A paycheck advance loan is where the borrower will get a petite sum of cash on a short-term agreement. This is considered an unsecured personal loan because no collateral is required.

When surprise bills come up, for example past due rent or utility fees, auto fees, medical or vet expenditures, and so on, people frequently rely upon paycheck advance loans.

Payday Loan Stipulations In Florence, South Carolina

In Florence, SC, cash advance loan borrowers need to satisfy a few requirements to qualify for a loan.

The borrower is required to:

• Show proof that they reside in Florence, SC
• Must be 18 years of age
• Receive a steady stream of income that they can provide proof of being at least $1,000 per month
• Give current contact information such as cell phone number and email address
• Give their social security number

If a borrower does not satisfy the above criteria, they will automatically be denied a paycheck advance loan. Make sure you possess the documents needed when applying.

Laws and Rules Concerning Paycheck Advance Loans in Florence, South Carolina

The State of South Carolina has ruled cash advance lending legal. Although, they have set the below rules and laws for the payday lending industry:

• An individual money lender can't offer a loan in excess of $600. Borrowers may not possess more than two unpaid loans from different lenders. There is no minimum loan amount.
• There is no minimum loan term, the maximum loan term length is 31 days. In South Carolina, borrowers are unable to rollover their loans.
• The fees and charges change for each money lender. The service costs enacted by lenders on each loan or transaction do not fall under interest. The service fees apply to every $100 borrowed and can vary between 11-15%.
• An interest rate must be mutually agreed upon. APR can be as high as 369%.

Will Paycheck Advance Lenders in Florence, SC, Run Credit Checks? What If I Have Poor/No Credit History At All?

Yes, the lenders we work with will do a credit check on you, but, even if you have no credit or bad credit, you might still be eligible for a loan as long as you can prove that you can repay the loan. Lenders are generally unbothered by your credit if you offer proof of income and a plan to repay the loan.

Lenders will rely on a soft credit pull, which will have no impact on your credit score. This is simply to get a look at your credit history and basic information.

A hard credit check, on the other hand, requires your explicit consent. These credit pulls are done for a variety of purposes, including mortgages, credit cards, and more.

You can still be approved for a paycheck advance loan with poor credit in Florence, South Carolina, as long as you can prove you will repay the loan.

Therefore, when you apply for a loan, albeit in person or online, double check that you have your income information available and any other documents showing that you can repay the loan. The more proof you provide, the better chance you are to be approved.

When Will I Get My Loan in Florence, South Carolina?

When you see your money truly relies on your lender as some lenders provide same-day cash advance loans, which means you will see your cash advance loan on the same day you apply, as long as you get an approval.

Most of the time, however, 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 receive your funds until Monday.

If you're searching for a same-day payday advance loan in Florence, SC, you will need to be sure that you're applying by 10:30 am. All same-day deposits going out that day will be approved by that cut-off. However, you should submit an application earlier than that if possible, as it will increase the likelihood that you see your funds on the day that you apply.

One other consideration that you should know 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 funds immediately. It's important to let your bank know that you plan to receive a paycheck advance loan, so they might make an exception in releasing the money earlier.

Overall, it's best to prepare ahead of time to receive your deposit 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 have poor credit or no credit and are looking to secure a cash advance loan, consider applying with us, as you probably have a better chance of approval.

We partner with more than one hundred different lenders who provide their services online. Much of the time you will see your loan on the next business day so ensure that you plan appropriately.

Although, 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 day. When requesting a loan in person, make sure that you have your government ID or driver's license; a passport is sufficient. Occasionally, lenders may request proof of address, so take along a utility bill to the store as well.

To find the nearest payday loan storefront, please refer to the list below and find your city.

Payday Loan Direct Lender Companies in Florence, SC

Below you will find a list of payday loan companies offering their services in Florence, South Carolina. If you can't find a lender near your location in Florence, consider applying in a nearby city in South Carolina. Alternatively, you can apply online on our website and get a decision almost instantly.