Payday Loans in Spartanburg, South Carolina
Events happen, and we usually end up in a situation where we must pay for some unforeseen expenses. Consider submitting an application for a cash advance loan in Spartanburg, South Carolina, to see if you are eligible.
The loan application process is fast and straightforward. To be eligible, borrowers have to meet a couple of simple requirements.
What is a Payday Loan? What Can It Pay For?
A cash advance loan is where the borrower will receive a small amount of money on a short-term basis. This is thought of as an unsecured loan as no collateral is expected.
When unexpected costs arise, like late rent or utility payments, car bills, health or vet expenditures, and so forth, individuals commonly seek out payday advance loans.
Cash Advance Loan Requirements In Spartanburg, SC
In Spartanburg, South Carolina, payday advance loan borrowers are required to meet several criteria to be eligible for a loan.
The borrower has to:
- Prove that they are a resident of Spartanburg, South Carolina
- Must be 18 years old
- Have an income that they can prove that's at least $1,000/month
- Provide up-to-date contact details like phone number and email address
- Provide their SSN
If a borrower does not abide by the above rules, they will immediately be denied a payday advance loan. Ensure that you can provide the documentation required when requesting a loan.
Laws and Regulations Regarding Payday Advance Loans in Spartanburg, SC
South Carolina has deemed paycheck advance lending legal. Still, they have created the following rules and regulations for the payday advance lending market:
- A single lender cannot extend a loan greater than $600. Borrowers cannot take out greater than two active loans from different lenders. There is no smallest loan amount.
- The minimum loan term is not determined, the longest loan term length is 31 days. In the State of South Carolina, borrowers are not allowed to rollover their loans.
- The fees and charges vary for each loan lender. The service fees charged by the lender on a payday loan are not considered interest. The service fees apply to each $100 loaned and can range from 11% up to 15%.
- An interest rate is required to be mutually decided upon. APR can be as much as 369%.
Will Payday Advance Lenders in Spartanburg, South Carolina, Perform Credit Checks? What If I Have Bad/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 dismal credit, you may still be approved for a loan provided you can show that you are able to repay the loan. Lenders are typically unconcerned about your credit history if you possess proof of income and a strategy to pay back the loan.
Lenders will conduct a soft credit check, which will not impact your credit score. This is only to get a feel of your credit history and general information.
A hard credit pull, dissimilarly, must have your permission. These credit inquiries are used for various purposes, such as mortgages, credit card applications, and more.
You might still qualify for a payday loan with bad credit in Spartanburg, SC, if you have proof of repayment.
So, when you request a loan, whether it is in person or online, make sure that you have your income information easily accessible and any other documents verifying that you can pay back the loan. The more evidence you show, the more likely your loan application will be approved.
When Will I See My Loan in Spartanburg, SC?
When you receive your money really depends on the lender as some lenders advertise same-day payday loans, which means you will receive your paycheck advance loan on the same day you request a loan, as long as you receive an approval.
Much of the time, though, lenders will give the borrower their lump sum on the following business day. Businesses typically close for holidays and weekends. Because of this, if you apply on a Friday, you may not get your deposit until Monday.
If you're wanting a same-day cash advance loan in Spartanburg, South Carolina, you will need to ensure you're applying by 10:30 am. Any and all same-day payments going out that day will be approved by that deadline. However, you should request a loan earlier than that if able, as it will boost the likelihood that you get your deposit on the same day that you submit your application.
One additional factor that you should be aware of is even if the lender approves your application and posts the deposit to your bank, occasionally the bank won't release that loan at that time. It's paramount that you let your bank know that you plan to get a cash advance loan, so they could possibly make an exception in releasing the money earlier.
On the whole, it's wise to prepare in advance to get your deposit on the following business day. That way, you're not surprised if you cannot get it on the same day.
Consider Borrowing From Us
If you possess bad credit or no credit and are searching to get a payday advance loan, think about applying through us, as you most likely have a higher chance of approval.
We work with hundreds of different lenders who offer their services online. Most of the time you will get your funds on the following business day so make sure that you plan accordingly.
However, you can always locate the nearest paycheck advance loan storefront to you and apply in person to strengthen the chances of getting your funds on the same business day. When submitting an application in person, ensure that you have your government ID or driver's license; a passport will work as well. Now and again, lenders may require proof of address, so bring a utility bill to the store too.
To locate the nearest cash advance loan store, please use the list below and search for your city.
Payday Loan Direct Lender Companies in Spartanburg, SC
Below you will find a list of payday loan companies offering their services in Spartanburg, South Carolina. If you can't find a lender near your location in Spartanburg, 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 Spartanburg, 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.