Payday Loans in Simpsonville, South Carolina
Events happen, and we often wind up in a spot where we have to cover some unforeseen expenses. Think about submitting an application for a payday advance loan in Simpsonville, SC, to see if you meet the requirements.
The loan request process is swift and simple. To be eligible, borrowers have to meet a couple of general conditions.
What is a Paycheck Advance Loan? What Can It Pay For?
A paycheck advance loan is where the borrower will receive a small amount of money on a short-term basis. This is considered an unsecured personal loan as no collateral is required.
When unexpected expenses present themselves, like past due rent or utility bills, car fixes, medical or vet payments, and so forth, individuals commonly turn to payday advance loans.
Payday Advance Loan Stipulations In Simpsonville, South Carolina
In Simpsonville, South Carolina, cash advance loan borrowers need to satisfy several criteria to be eligible for a loan.
The borrower must:
- Prove that they live in Simpsonville, SC
- Must be 18 years old
- Have a steady stream of income that they can prove that's at least $1,000/month
- Provide active contact details like cell phone number and email address
- Give their SSN
If a borrower does not satisfy the above criteria, they will immediately be denied a payday loan. Ensure that you have the documentation required when applying for a loan.
Laws and Regulations Concerning Payday Advance Loans in Simpsonville, South Carolina
South Carolina has deemed paycheck advance lending legal. However, they have enacted the below rules and laws for the payday lending industry:
- A single money lender cannot extend a loan in excess of $600. Borrowers are not allowed to take out greater than two active 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 vary for each lender. The service costs enacted by the lender on a loan are not considered interest. The service fees apply to every $100 loaned and can range between 11-15%.
- An interest rate is required to be mutually settled upon. APR can range up to 369%.
Will Payday Advance Lenders in Simpsonville, South Carolina, Complete 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, still, even if you have no credit or less than stellar credit, you may still be eligible for a loan provided you can prove that you are able to pay back the loan. Lenders are commonly unbothered by your credit history if you provide 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 simply to get a look at your credit history and general information.
A hard credit pull, alternatively, needs your permission. These credit pulls are done for various purposes, such as mortgages, credit card applications, and more.
You might still be approved for a cash advance loan with bad credit in Simpsonville, SC, as long as you can prove you will repay the loan.
Therefore, when you apply for a loan, albeit in person or online, make sure that you have your income information ready and any other documents showing that you can repay the loan. The more evidence you possess, the more likely your loan request will be granted.
When Will I See My Deposit in Simpsonville, South Carolina?
When you see your cash actually relies on the lender as some lenders provide same-day payday loans, which means you will get your paycheck advance loan on the same day you request a loan, as long as you get an approval.
Much of the time, though, lenders will give the borrower their lump sum on the next business day. Businesses typically close for holidays and weekends. So, if you apply on a Friday, you might not get your loan until Monday.
If you're looking for a same-day payday loan in Simpsonville, SC, you will need to make sure you're applying by 10:30 am. Any and all same-day funds 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 money on the same day that you submit your application.
One more consideration that you should be aware of is despite if the lender grants your loan request and posts the credit to your bank account, occasionally the bank won't release that deposit at that time. It's paramount that you let your bank know that you plan to get a paycheck advance loan, so they might make an exception in releasing the loan earlier.
Overall, it's best to prepare ahead of time to receive your funds on the following business day. That way, you're not surprised if you cannot get it on the same day.
Consider Working With Us
If you possess poor credit or no credit and are wanting to get a payday loan, think about applying with us, as you probably have a better chance of approval.
We work with hundreds of different lenders who provide their services online. Often you will receive your deposit on the following business day so ensure that you plan correctly.
Although, you can always locate the closest payday advance loan storefront to you and apply in person to strengthen the chances of seeing your funds on the same business day. When applying in person, make sure that you have your government ID or driver's license; a passport is sufficient. Occasionally, lenders may ask for proof of address, so bring a utility bill to the store too.
To find the nearest payday advance loan storefront, please use the list below and search for your city.
Payday Loan Direct Lender Companies in Simpsonville, SC
Below you will find a list of payday loan companies offering their services in Simpsonville, South Carolina. If you can't find a lender near your location in Simpsonville, 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 Simpsonville, 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.