Payday Loans in Friendswood, Texas
Life happens, and we usually end up in a spot where we have to pay for some unforeseen costs. Think about submitting an application for a payday loan in Friendswood, TX, to see if you meet the requirements.
The application process is fast and painless. To be qualified, loan borrowers must satisfy a couple of general requirements.
What is a Paycheck Advance Loan? What Can It Pay For?
A cash advance loan is where the borrower will be extended a small amount of money on a short-term agreement. This is deemed to be an unsecured loan as no collateral is required.
When unforeseen bills come up, like past due rent or utility fees, vehicle fixes, medical or vet bills, and so on, individuals commonly turn to payday loans.
Payday Advance Loan Requirements In Friendswood, TX
In Friendswood, TX, paycheck advance loan borrowers are required to meet a few criteria to be eligible for a loan.
The borrower is required to:
- Prove that they are a resident of Friendswood, Texas
- Must be 18 years old
- Have a steady income that they can prove that's at least $1,000/month
- Give active contact details like phone number and email address
- Give their social security number
If a borrower does not meet the above rules, they will immediately be denied a paycheck advance loan. Ensure that you have the documentation required when requesting a loan.
Laws and Rules Concerning Payday Advance Loans in Friendswood, TX
Texas has ruled cash advance lending legal. Although, they have enacted the following rules and laws for the cash advance lending industry:
- An individual lender can't extend a loan for more than $600. Borrowers are not allowed to possess greater than two unpaid loans from different lenders. There is no minimum loan amount.
- The minimum loan term is not set, the maximum loan term length is 31 days. In the State of Texas, borrowers are not allowed to rollover their loans.
- The fees and charges are different for each lender. The service costs enacted by lenders on a cash advance loan are not considered interest. The service fees apply to each $100 loaned and can range between 11-15%.
- An interest rate is required to be mutually settled upon. APR can be as much as 369%.
Will Paycheck Advance Lenders in Friendswood, TX, Complete Credit Checks? What If I Have Poor/No Credit History At All?
Yes, the lenders we work with will do a credit check on you, still, even if you have no credit or less than stellar credit, you might still be eligible for a loan given that you can show that you are able to repay the loan. Lenders are commonly unbothered by your credit if you offer proof of income and a strategy to repay the loan.
Lenders will perform a soft credit inquiry, which will have no impact on your credit score. This is simply to get an idea of your credit history and general information.
A hard credit inquiry, alternatively, requires your permission. These credit pulls are utilized for a variety of purposes, including mortgages, credit cards, and more.
You can still qualify for a payday advance loan with poor credit in Friendswood, TX, provided that you can prove you will repay the loan.
So, when you request a loan, whether it is in person or online, double check that you have your income information ready and any other documents proving that you can pay back the loan. The more evidence you provide, the more likely your loan application will be approved.
When Will I Get My Money in Friendswood, TX?
When you get your deposit really depends on the lender as some lenders advertise same-day payday advance loans, which means you will receive your payday 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 generally close for holidays and weekends. Because of this, if you submit your application on a Friday, you might not receive your money until Monday.
If you're needing a same-day payday advance loan in Friendswood, TX, 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 cut-off. However, you should apply earlier than that if possible, as it will boost the likelihood that you get your funds on the same day that you submit your application.
One additional factor that you should understand is despite if the lender grants your loan request and posts the loan to your checking account, sometimes the bank won't release that deposit right away. It's paramount that you let your bank know that you plan to get a cash advance loan, so they could possibly make an exception in releasing the funds earlier.
Overall, it's wise to prepare ahead of time to get money on the next business day. That way, you're not surprised if you cannot receive it on the same day.
Think About Borrowing From Us
If you possess less than great credit or no credit and are needing to secure a cash advance loan, consider applying with us, as you frequently have a better chance of approval.
We work with over one hundred different lenders who offer their services online. Often you will see your funds on the following business day so ensure that you plan correctly.
Although, you can always find the closest paycheck advance loan store to you and apply in person to boost the chances of receiving your money on the same business day. When applying in person, make sure that you have your government ID or driver's license; a passport is sufficient. Sometimes, lenders may require proof of address, so bring a utility bill to the store too.
To find the nearest cash advance loan storefront, please refer to the list below and find your city.
Payday Loan Direct Lender Companies in Friendswood, TX
Below you will find a list of payday loan companies offering their services in Friendswood, Texas. If you can't find a lender near your location in Friendswood, 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 Friendswood, 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.