Online Payday Loans in Texas
We've all found ourselves there a time or two, where some unforeseen cost pops up be it vet bills, utility shutoff notices, or maybe a payment that we didn't remember. In this situation, you should request a payday loan in Texas.
The process of applying for a cash advance loan is quick and effortless. Nevertheless, you do need to meet certain requirements to ensure you're approved.
What Specifically is a Cash Advance Loan And Why Is It Necessary?
A payday advance loan is when a person borrows a small amount of funds on a short-term basis that they're contracted to pay back with their next paycheck. This type of loan requires no collateral, which is why it's thought of as an unsecured personal loan.
Being able to obtain a cash advance loan will help pay for emergency expenses that pop up such as auto bills, health expenditures, eviction notices, outstanding utility costs, and plenty more.
What Are The Guidelines For Payday Loans in the State of Texas?
To be granted a payday advance loan in Texas there are a handful of requirements the borrower needs to satisfy in order to qualify, such as:
- Be 18+ years of age
- Possess the ability to provide an SSN
- Show proof of residence within Texas
- Have proof of a stable income of at least $1,000 per month
- Submit an email address and phone number
- You cannot be bankrupt or in debt
The failure to satisfy the standards above will result in an automatic denial of your loan request. Always be sure to possess the necessary documents on hand when requesting a loan.
Cash Advance Loan Rules and Regulations in Texas
With cash advance loans come specific rules and regulations depending on the city. We've detailed a few of these, specific to the state of Texas:
- The greatest loan amount is $500 for a single repayment and $1,000 for multiple installments
- APR is 304%
- The state of Texas does not condone rollovers meaning the loans must be repaid within the contracted time frame
There are distinct time frames for one-time payment loans and multiple installment loans.
- The borrower has seven days to pay back a single-payment loan
- For multiple installment loans, the borrower has 60 days to post payment
- The borrower will receive no more than 31 days to repay a single-payment loan
- 90 days will be allotted to the borrower for repayment on a multiple installment loan
Do Cash Advance Loan Lenders Check Credit?
Lenders will perform a credit inquiry, but it's not the usual credit check you may be familiar with. They will run what's called a soft credit inquiry which looks into your basic information along with your complete credit history.
The soft credit inquiry won't impact your credit, whereas a hard credit check will. However, this must have your permission and is usually only used for rental applications, credit cards, car loans, and other financial matters.
Can I Receive a Payday Loan with Less Than Perfect Credit in Texas?
If you're concerned because you have lackluster credit; don't be! You can still be approved for a payday advance loan with poor credit or no credit, in Texas. As long as you have proof that you can pay the loan back, lenders typically aren't preoccupied with your credit rating.
Irregardless of if you request a loan online or at a payday advance lender store local to you, always have your proof of steady income in addition to other documents proving that you're able to repay the loan. With additional evidence, you increase the likelihood of approval.
When Will The Deposit Show Up In My Account?
Generally, the majority of borrowers should expect that their money will show up in their bank account the following business day. However, this depends on a few things such as:
- When you apply
- Who your bank is
If you apply before 10:30 AM when you are trying for a same-day payday advance loan in Texas, it will boost the likelihood that you receive your money on the same day you apply. Of course, only if you're approved.
Don't forget that banks, as well as a great deal of other businesses, close over the weekends, and on holidays. Therefore, if you request a loan the day leading up to a holiday, or before the weekend, there's a possibility your deposit will be postponed.
Who Do You Bank With?
Something else you'll want to be mindful of is who you bank with. Banks have their own procedures when it comes to releasing funds. Some may be fine releasing them the same day whereas others will use a 3 to 5 day holding period.
One thing you can do is inform your banker that you are applying for a cash advance loan so that they may be able to make an exception on when to release the funds to your checking account. If they aren't able to make an exception, you can ask them what their policy consists of so that you're aware.
Cash Advance Application Process In the State of Texas
The cash advance loan application process in Texas is uncomplicated. It doesn't matter if you have no credit or even poor credit, you can still get approval. You don't need to venture out if you want to apply through us online. Or, you can find your closest lender's storefront.
Regardless, whatever you pick, all you must have is your basic information like your email address, phone number, social security number, etc.
Should you decide to visit your nearest lender at their storefront, make sure you have your government ID or passport to verify your identity. They might also want verification of address to prove you live in Texas, as well as proof of income.
Consider Applying With Us
We are an online service that offers payday loan applications online in Texas. We are working closely with over a hundred direct lenders who provide services online. Plan to receive your deposit by the next business day.
On the other hand, you can always search for the nearest cash advance loan storefront and apply there. This may boost the chances that you get your money on the same business day provided that you apply before 10:30 AM.
To locate a payday advance loan storefront close to you, locate your city on the list below:
If you need cash as soon as possible, consider applying in person instead of online. If approved, you will get your money almost immediately. Please find the list of cities in California to find the nearest payday loan storefront.