Payday Loans in Arlington, Texas
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 paycheck advance loan in Arlington, Texas, to see if you qualify.
The loan process is quick and simple. To be qualified, borrowers must meet a couple of basic requirements.
What is a Cash Advance Loan? What Can It Be Used For?
A payday loan is where the borrower will be extended a petite amount of cash on a short-term agreement. This is considered an unsecured loan due to the fact that no collateral is needed.
When surprise financial needs come up, like missed rent or utility payments, vehicle repairs, health or vet expenditures, and so forth, people usually seek out payday advance loans.
Payday Advance Loan Criteria In Arlington, TX
In Arlington, TX, cash advance loan borrowers are required to meet a few requirements to qualify for a loan.
The borrower must:
- Show proof that they are a resident of Arlington, TX
- Must be 18 or older
- Receive a steady income that they can provide proof of being at least $1,000/month
- Provide active contact details such as phone number and email address
- Give their social security number
If a borrower does not satisfy the above criteria, they will immediately be denied a cash advance loan. Ensure that you have the documents needed when submitting your application.
Laws and Regulations Regarding Cash Advance Loans in Arlington, TX
The State of Texas has ruled cash advance lending legal. However, they have set the following rules and regulations for the paycheck advance lending market:
- An individual money lender can't extend a loan greater than $600. Borrowers cannot possess more than two outstanding 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 Texas, borrowers may not rollover their loans.
- The fees and charges are different for each money lender. The service costs charged by the lender on a payday loan are not considered interest. The service fees apply to every $100 borrowed and can vary from 11% up to 15%.
- An interest rate must be mutually settled upon. APR can range up to 369%.
Will Paycheck Advance Lenders in Arlington, TX, Run Credit Checks? What If I Have Poor/No Credit History At All?
Yes, the lenders we partner with will run a credit check on you, still, even if you possess no credit or dismal credit, you may still be approved for a loan as long as you can prove that you can repay the loan. Lenders are typically unbothered by your credit if you have proof of income and a plan to repay the loan.
Lenders will conduct a soft credit inquiry, which will have no impact on your credit score. This is only to get a look at your credit history and general information.
A hard credit pull, dissimilarly, requires your permission. These credit checks are done for various purposes, such as mortgages, credit card applications, and more.
You may still qualify for a cash advance loan with bad credit in Arlington, Texas, provided that you can prove you will repay the loan.
So, when you apply, albeit in person or online, make sure that you have your income information easily accessible and any other documents showing that you can pay back the loan. The more proof you possess, the better chance your loan request will be granted.
When Will I See My Funds in Arlington, TX?
When you receive your loan really depends on your lender as some lenders provide same-day payday advance loans, which means you will receive your cash advance loan on the same day you submit your application, as long as you're approved.
Most of the time, though, lenders will send the borrower their lump sum on the next 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 looking for a same-day payday loan in Arlington, TX, 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 deadline. However, you should apply earlier than that if possible, as it will boost the likelihood that you receive your cash on the day that you apply.
One additional consideration that you should know is even if the lender approves your application and posts the funds to your bank, 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 payday loan, so they might make an exception in releasing the funds earlier.
On the whole, it's wise to prepare ahead of time to receive cash 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 PaydayLoanRadar
If you possess less than great credit or no credit and are needing to secure a cash advance loan, consider applying through us, as you probably have a better chance of approval.
We partner with more than one hundred different lenders who offer their services online. Often you will get your deposit on the following business day so ensure that you plan accordingly.
However, you can always locate the nearest payday advance loan storefront to you and apply in person to boost the chances of seeing your money on the same business 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 bring a utility bill to the store as well.
To find the nearest payday advance loan storefront, please navigate to the list below and search for your city.
Payday Loan Direct Lender Companies in Arlington, TX
Below you will find a list of payday loan companies offering their services in Arlington, Texas. If you can't find a lender near your location in Arlington, consider applying in a nearby city in Texas. 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 Arlington, 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.