Payday Loans in Benbrook, Texas
Incidents happen, and we often end up in a place where we have to cover some surprise costs. Consider applying for a cash advance loan in Benbrook, TX, to see if you are eligible.
The loan request process is quick and straightforward. To qualify, you must meet a few basic requirements.
What is a Paycheck Advance Loan? What Can It Cover?
A payday loan is where the borrower will receive a small sum of funds on a short-term agreement. This is considered an unsecured loan due to the fact that no collateral is needed.
When unforeseen financial needs present themselves, such as missed rent or utility expenditures, auto fixes, health or vet bills, and so on, people usually turn to payday advance loans.
Payday Loan Requirements In Benbrook, TX
In Benbrook, Texas, payday loan borrowers are required to meet several stipulations to be eligible for a loan.
The borrower is required to:
- Show proof that they live in Benbrook, Texas
- Must be 18 years old
- Have a steady stream of income that they can prove that's at least $1,000/month
- Give up-to-date contact details like cell phone number and email address
- Give their SSN
If a borrower does not abide by the above rules, they will automatically be denied a payday advance loan. Make sure you possess the documentation needed when applying.
Laws and Regulations Regarding Payday Loans in Benbrook, TX
The State of Texas has deemed payday lending legal. However, they have set the following rules and laws for the cash advance lending industry:
- An individual money lender cannot extend a loan in excess of $600. Borrowers are not allowed to have greater than two outstanding loans from different lenders. There is no minimum loan amount.
- The minimum loan term is not set, the longest loan term length is 31 days. In Texas, borrowers are not allowed to rollover their loans.
- The fees and charges change for each 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 range between 11-15%.
- An interest rate is required to be mutually decided upon. APR can be as much as 369%.
Will Payday Lenders in Benbrook, Texas, Perform Credit Checks? What If I Have Poor/No Credit History At All?
Yes, the lenders we partner with will do a credit check on you, still, even if you possess no credit or poor credit, you may still be approved for a loan provided you can prove that you are able to pay back the loan. Lenders are typically unbothered by your credit history if you have proof of income and a plan to repay the loan.
Lenders will perform a soft credit check, which will have no impact on your credit score. This is solely to get an idea of your credit history and general information.
A hard credit check, dissimilarly, must have your permission. These credit checks are used for a variety of purposes, such as mortgages, credit card applications, and more.
You may still be approved for a paycheck advance loan with less than great credit in Benbrook, Texas, if you can prove you will repay the loan.
Therefore, when you request a loan, whether it is in person or online, ensure that you have your income information at hand and any other documents proving that you can pay back the loan. The more proof you show, the more likely your loan application will be approved.
When Will I See My Cash in Benbrook, Texas?
When you see your deposit actually depends on your lender as some lenders advertise same-day cash advance loans, which means you will receive your payday loan on the same day you submit your application, as long as you're approved.
Most of the time, however, 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 submit your application on a Friday, you might not get your funds until Monday.
If you're searching for a same-day payday loan in Benbrook, TX, you will need to make sure you're applying by 10:30 am. Any and all same-day deposits going out that day will be approved by that deadline. However, you should submit an application earlier than that if possible, as it will boost the likelihood that you see your money on the same day that you submit your application.
One other consideration that you should know is despite if the money lender grants your loan request and posts the credit to your bank, occasionally the bank won't release that loan right away. 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 in advance to receive money on the next business day. That way, you're not surprised if you cannot receive it on the same day.
Consider Working With Us
If you possess poor credit or no credit and are looking to secure a payday loan, consider applying with us, as you most likely have a better chance of approval.
We partner with more than one hundred different lenders who offer their services online. Often you will receive your loan on the following business day so make sure that you plan accordingly.
However, you can always locate the nearest cash advance loan storefront to you and apply in person to boost the chances of seeing your money 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. Sometimes, lenders may require proof of address, so take along a utility bill to the store too.
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 Benbrook, TX
Below you will find a list of payday loan companies offering their services in Benbrook, Texas. If you can't find a lender near your location in Benbrook, 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 Benbrook, 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.