Payday Loans in Beaumont, Texas
Life happens, and we usually find ourselves in a situation where we must cover some unexpected expenses. Consider submitting an application for a payday advance loan in Beaumont, TX, to see if you meet the requirements.
The loan application process is swift and simple. To be qualified, loan borrowers must meet a couple of simple criteria.
What is a Payday Advance Loan? What Can It Cover?
A payday advance loan is where the borrower will receive a petite sum of cash on a short-term agreement. This is thought of as an unsecured personal loan as no collateral is required.
When unforeseen expenses present themselves, for example past due rent or utility bills, auto costs, medical or vet fees, and so on, people usually seek out payday loans.
Paycheck Advance Loan Criteria In Beaumont, TX
In Beaumont, TX, payday advance loan borrowers need to meet a few stipulations to be eligible for a loan.
The borrower must:
- Prove that they reside in Beaumont, Texas
- Must be at least 18
- Have a steady stream of income that they can provide proof of being at least $1,000/month
- Give active contact details like phone number and email address
- Give their SSN
If a borrower does not abide by the above rules, they will automatically be denied a cash advance loan. Ensure that you possess the documents needed when submitting your application.
Laws and Regulations Regarding Cash Advance Loans in Beaumont, Texas
The State of Texas has ruled payday advance lending legal. Still, they have put forth the below rules and laws for the payday lending industry:
- An individual money lender cannot offer a loan in excess of $600. Borrowers may not take out greater than two outstanding 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 the State of Texas, borrowers may not rollover their loans.
- The fees and charges are different for each lender. The service fees charged by lenders on a cash advance loan are not considered interest. The service fees apply to each $100 loaned and can vary between 11-15%.
- An interest rate must be mutually agreed upon. APR can be as high as 369%.
Will Cash Advance Lenders in Beaumont, Texas, Run Credit Checks? What If I Have Poor/No Credit History At All?
Yes, the lenders we partner with will complete a credit check on you, still, even if you have no credit or dismal credit, you may still be approved for a loan provided you can show that you can pay back the loan. Lenders are typically unconcerned about your credit if you have proof of income and a plan to pay back the loan.
Lenders will rely on a soft credit inquiry, which will not impact your credit score. This is simply to get a look at your credit history and basic information.
A hard credit pull, dissimilarly, must have your explicit consent. These credit inquiries are performed for various purposes, such as mortgages, credit cards, and more.
You can still qualify for a payday advance loan with bad credit in Beaumont, Texas, provided that you can prove you will repay the loan.
Therefore, when you apply, albeit in person or online, ensure that you have your income information easily accessible and any other documents verifying that you can repay the loan. The more evidence you show, the better chance your loan application will be approved.
When Will I Receive My Funds in Beaumont, TX?
When you see your money truly relies 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 get an approval.
Much of the time, however, lenders will send the borrower their lump sum on the following business day. Businesses often close for holidays and weekends. Therefore, if you apply on a Friday, you may not receive your deposit until Monday.
If you're looking for a same-day payday advance loan in Beaumont, Texas, you will need to be sure that you're applying by 10:30 am. Any and all same-day loans going out that day will be approved by that deadline. However, you should apply earlier than that if able, as it will boost the likelihood that you see your funds on the same day that you submit your application.
One additional consideration that you should understand is despite if the lender approves your application and posts the loan 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 cash advance loan, so they might make an exception in releasing the loan earlier.
On the whole, it's wise to prepare in advance to receive your loan on the next business day. That way, you're not out of luck if you cannot get it on the same day.
Think About Working With PaydayLoanRadar
If you have less than great credit or no credit and are needing to secure a payday loan, think about applying through us, as you probably have a better chance of approval.
We work with more than one hundred different lenders who offer their services online. Most of the time you will get your loan on the next business day so make sure that you plan correctly.
Although, you can always locate the nearest cash advance loan storefront to you and apply in person to boost the chances of seeing 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 is sufficient. Occasionally, lenders may require proof of address, so bring a utility bill to the store as well.
To find the nearest paycheck advance loan store, please navigate to the list below and search for your city.
Payday Loan Direct Lender Companies in Beaumont, TX
Below you will find a list of payday loan companies offering their services in Beaumont, Texas. If you can't find a lender near your location in Beaumont, 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 Beaumont, 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.