Payday Loans in Galveston, Texas
Events happen, and we often end up in a situation where we have to pay for some surprise bills. Consider applying for a payday loan in Galveston, Texas, to see if you meet the requirements.
The application process is quick and effortless. To be qualified, borrowers have to satisfy a few straightforward criteria.
What is a Payday Loan? What Can It Be Used For?
A payday loan is where the borrower will get a small amount of money on a short-term basis. This is considered an unsecured loan because no collateral is expected.
When surprise costs come up, for example late rent or utility payments, vehicle bills, health or vet payments, and so on, individuals commonly rely upon paycheck advance loans.
Payday Loan Criteria In Galveston, Texas
In Galveston, Texas, payday advance loan borrowers are required to meet a few stipulations to qualify for a loan.
The borrower has to:
- Provide proof that they live in Galveston, Texas
- Must be 18 or older
- Receive a steady stream of income that they can prove that's at least $1,000 per month
- Give active contact information including phone number and email address
- Provide their social security number
If a borrower does not abide by the above requirements, they will immediately be denied a payday advance loan. Make sure you have the documentation needed when applying.
Laws and Rules Regarding Payday Advance Loans in Galveston, Texas
Texas has deemed payday advance lending legal. Although, they have enacted the below rules and laws for the payday advance lending market:
- A single money lender cannot extend a loan for more than $600. Borrowers are not allowed to have 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 the State of Texas, borrowers are unable to rollover their loans.
- The fees and charges vary for each loan lender. The service costs enacted by the lender on a payday loan do not fall under interest. The service fees apply to each $100 borrowed and can range between 11-15%.
- An interest rate is required to be mutually settled upon. APR can range up to 369%.
Will Cash Advance Lenders in Galveston, Texas, Run Credit Checks? What If I Have Bad/No Credit History At All?
Yes, the lenders we partner with will run a credit check on you, but, even if you have no credit or bad credit, you might still be eligible for a loan given that you can show that you can repay the loan. Lenders are usually unconcerned about your credit history if you possess proof of income and a plan to repay the loan.
Lenders will perform a soft credit inquiry, which will have no impact on your credit score. This is only to get a feel of your credit history and basic information.
A hard credit check, alternatively, requires your explicit consent. These credit inquiries are performed for various purposes, including mortgages, credit cards, and more.
You might still be approved for a payday advance loan with bad credit in Galveston, Texas, as long as you can prove you will repay the loan.
Therefore, when you apply, albeit in person or online, double check that you have your income information at hand and any other documents proving that you can repay the loan. The more evidence you possess, the better chance your loan request will be granted.
When Will I Get My Cash in Galveston, Texas?
When you receive your money really depends on the lender as some lenders provide same-day payday advance loans, which means you will get your payday loan on the same day you request a loan, as long as you're approved.
Much of the time, however, lenders will send the borrower their lump sum on the next business day. Businesses often close for holidays and weekends. Because of this, if you submit your application on a Friday, you may not receive your loan until Monday.
If you're looking for a same-day payday advance loan in Galveston, Texas, you will need to ensure you're applying by 10:30 am. All same-day payments going out that day will be approved by that deadline. However, you should submit an application earlier than that if possible, as it will increase the likelihood that you receive your money on the same day that you apply.
One more consideration that you should understand is despite if the money lender grants your loan request and posts the loan to your bank, occasionally the bank won't release that loan at that time. It's vital that you let your bank know that you plan to get a payday loan, so they might make an exception in releasing the loan earlier.
Overall, it's best to prepare ahead of time to get your loan on the next business day. That way, you're not out of luck if you cannot receive it on the same day.
Consider Borrowing From PaydayLoanRadar
If you have poor credit or no credit and are looking to get a payday advance loan, think about applying through us, as you usually have a better chance of approval.
We work with more than one hundred different lenders who offer their services online. Often you will see your cash on the following business day so make sure that you plan appropriately.
However, you can always find the nearest cash advance loan store to you and apply in person to increase the chances of seeing your money on the same day. When applying in person, make sure that you have your government ID or driver's license; a passport will work as well. Occasionally, lenders may ask for proof of address, so take along a utility bill to the store as well.
To find the nearest cash advance loan storefront, please navigate to the list below and find your city.
Payday Loan Direct Lender Companies in Galveston, TX
Below you will find a list of payday loan companies offering their services in Galveston, Texas. If you can't find a lender near your location in Galveston, 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 Galveston, 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.