Payday Loans in Lewisville, Texas
Things happen, and we often find ourselves in a place where we have to cover some unexpected expenses. Think about applying for a cash advance loan in Lewisville, Texas, to see if you qualify.
The loan request process is quick and straightforward. To be eligible, you have to satisfy a couple of general requirements.
What is a Payday Advance Loan? What Can It Be Put Towards?
A payday loan is where the borrower will receive a small sum of cash on a short-term contract. This is thought of as an unsecured loan as no collateral is expected.
When surprise expenses come up, such as missed rent or utility payments, auto repairs, medical or vet payments, and so forth, people commonly seek out payday loans.
Paycheck Advance Loan Stipulations In Lewisville, Texas
In Lewisville, TX, payday advance loan borrowers are required to meet a few requirements to qualify for a loan.
The borrower has to:
- Provide proof that they live in Lewisville, TX
- Must be 18 years of age
- Have a steady stream of income that they can prove that's at least $1,000/month
- Give up-to-date contact information including cell phone number and email address
- Give their SSN
If a borrower does not satisfy the above criteria, they will automatically be denied a cash advance loan. Ensure that you can provide the documentation required when submitting your application.
Laws and Rules Regarding Payday Advance Loans in Lewisville, Texas
The State of Texas has ruled cash advance lending legal. Still, they have put forth the below rules and laws for the payday advance lending market:
- An individual money lender can't extend a loan greater than $600. Borrowers are not allowed to possess more than two active loans from different lenders. There is no smallest loan amount.
- There is no minimum loan term, the longest loan term length is 31 days. In Texas, borrowers may not rollover their loans.
- The fees and charges are different for each lender. The service fees enacted by lenders on each loan or transaction are not considered interest. The service fees apply to every $100 borrowed and can vary between 11-15%.
- An interest rate must be mutually decided upon. APR can range up to 369%.
Will Payday Lenders in Lewisville, Texas, Perform Credit Checks? What If I Have Poor/No Credit History At All?
Yes, the lenders we have a relationship with will perform a credit check on you, but, even if you have no credit or less than optimal credit, you might still be approved for a loan provided you can show that you can pay back the loan. Lenders are commonly unconcerned about your credit history if you offer proof of income and a plan to pay back the loan.
Lenders will rely on a soft credit pull, which will not impact your credit score. This is only to get an idea of your credit history and basic information.
A hard credit inquiry, on the other hand, needs your explicit consent. These credit pulls are used for a plethora of purposes, such as mortgages, credit cards, and more.
You can still be approved for a payday loan with less than great credit in Lewisville, Texas, if you have proof of repayment.
Therefore, when you apply for a loan, whether it is 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 evidence you possess, the more likely you are to be approved.
When Will I Get My Deposit in Lewisville, Texas?
When you see your funds truly relies on the lender as some lenders provide same-day payday advance loans, which means you will see your paycheck advance loan on the same day you request a loan, as long as you get an approval.
Much of the time, however, lenders will give the borrower their lump sum on the next business day. Businesses usually close for holidays and weekends. Because of this, if you apply on a Friday, you might not receive your loan until Monday.
If you're needing a same-day cash advance loan in Lewisville, Texas, you will need to ensure you're applying by 10:30 am. All same-day loans going out that day will be approved by that cut-off. However, you should apply earlier than that if able, as it will boost the likelihood that you get your money on the day that you submit your application.
One additional consideration that you should understand is despite if the lender grants your loan request and posts the credit to your bank account, sometimes the bank won't release that funds right away. It's important to let your bank know that you plan to get a payday advance loan, so they could possibly make an exception in releasing the funds earlier.
Overall, it's best to prepare ahead of time to receive cash on the next business day. That way, you're not left in the lurch if you cannot receive it on the same day.
Consider Working With Us
If you have underwhelming credit or no credit and are wanting to secure a payday loan, think about applying with us, as you probably have a higher chance of approval.
We partner with more than one hundred different lenders who provide their services online. Most of the time you will receive your funds on the next business day so ensure 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 cash on the same day. When requesting a loan in person, make sure that you have your government ID or driver's license; a passport will work as well. Infrequently, lenders may require proof of address, so take along a utility bill to the store too.
To locate the nearest payday loan storefront, please refer to the list below and locate your city.
Payday Loan Direct Lender Companies in Lewisville, TX
Below you will find a list of payday loan companies offering their services in Lewisville, Texas. If you can't find a lender near your location in Lewisville, 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 Lewisville, 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.