Payday Loans in Columbia, Tennessee

Incidents happen, and we usually end up in a spot where we have to pay for some unforeseen bills. Think about submitting an application for a cash advance loan in Columbia, Tennessee, to see if you are eligible.

The loan process is quick and simple. To be eligible, you have to satisfy a couple of simple requirements.

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

A cash advance loan is where the borrower will get a small sum of cash on a short-term contract. This is considered an unsecured loan due to the fact that no collateral is required.

When unforeseen costs come up, for example missed rent or utility expenditures, car costs, health or vet expenditures, and so on, people usually turn to payday advance loans.

Paycheck Advance Loan Requirements In Columbia, Tennessee

In Columbia, Tennessee, payday loan borrowers need to satisfy several requirements to qualify for a loan.

The borrower must:

• Show proof that they are a resident of Columbia, Tennessee
• Must be 18 years of age
• Have a steady stream of income that they can provide proof of being at least $1,000/month
• Provide active contact information like cell phone number and email address
• Provide their social security number

If a borrower does not abide by the above criteria, they will immediately be denied a paycheck advance loan. Make sure you have the documents required when applying.

Laws and Rules Regarding Paycheck Advance Loans in Columbia, Tennessee

Tennessee has ruled payday lending legal. However, they have enacted the below rules and regulations for the cash advance lending industry:

• A single lender can't extend a loan in excess of $600. Borrowers cannot possess greater than two unpaid loans from different lenders. There is no smallest loan amount.
• The minimum loan term is not set, the maximum loan term length is 31 days. In the State of Tennessee, borrowers may not rollover their loans.
• The fees and charges vary for each lender. The service fees charged by the lender on a payday loan do not fall under interest. The service fees apply to every $100 loaned and can vary between 11-15%.
• An interest rate is required to be mutually settled upon. APR can be as high as 369%.

Will Payday Lenders in Columbia, TN, Perform Credit Checks? What If I Have Bad/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 less than stellar credit, you may still be approved for a loan given that you can prove that you can pay back the loan. Lenders are usually unbothered by your credit if you have proof of income and a strategy to pay back the loan.

Lenders will perform 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 check, dissimilarly, needs your permission. These credit inquiries are utilized for a plethora of purposes, such as mortgages, credit card applications, and more.

You might still qualify for a paycheck advance loan with imperfect credit in Columbia, Tennessee, provided that you have proof of repayment.

So, when you apply, albeit in person or online, make sure that you have your income information available and any other documents showing that you can repay the loan. The more evidence you possess, the more likely you are to be approved.

When Will I See My Funds in Columbia, TN?

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

Much of the time, however, lenders will give the borrower their lump sum on the following business day. Businesses typically 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 wanting a same-day payday loan in Columbia, TN, you will need to ensure you're applying by 10:30 am. Any and all same-day deposits going out that day will be approved by that cut-off. However, you should request a loan earlier than that if able, as it will increase the likelihood that you get your loan on the day that you submit your application.

One more factor that you should be aware of is even if the money lender grants your loan request and posts the credit to your checking account, occasionally the bank won't release that loan at that time. It's important to let your bank know that you plan to get a paycheck advance loan, so they could possibly make an exception in releasing the money earlier.

Overall, it's best to prepare in advance to get your loan on the next business day. That way, you're not out of luck if you cannot receive it on the same day.

Consider Working With Us

If you have bad credit or no credit and are needing to secure a cash advance loan, consider applying with us, as you usually have a better chance of approval.

We work with over one hundred different lenders who provide their services online. Frequently you will receive your loan on the next business day so make sure that you plan accordingly.

However, you can always find the nearest cash advance loan store to you and apply in person to strengthen the chances of getting your funds on the same day. When submitting an application in person, ensure that you have your government ID or driver's license; a passport will work as well. Occasionally, lenders may ask for proof of address, so bring a utility bill to the store as well.

To locate the nearest payday loan store, please use the list below and locate your city.

Payday Loan Direct Lender Companies in Columbia, TN

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