Payday Loans in Mansfield, Texas
Events happen, and we often find ourselves in a situation where we have to pay for some unexpected expenses. Consider applying for a cash advance loan in Mansfield, Texas, to see if you qualify.
The loan request process is fast and simple. To qualify, borrowers have to satisfy a few general criteria.
What is a Payday Advance Loan? What Can It Pay For?
A cash advance loan is where the borrower will be extended a small sum of cash on a short-term contract. This is considered an unsecured personal loan because no collateral is required.
When unexpected costs arise, for example past due rent or utility fees, auto bills, medical or vet fees, and so forth, people frequently turn to payday advance loans.
Payday Loan Criteria In Mansfield, Texas
In Mansfield, Texas, payday advance loan borrowers are required to meet several criteria to be eligible for a loan.
The borrower has to:
- Provide proof that they live in Mansfield, TX
- Must be 18 years of age
- Have a steady stream of income that they can prove that's at least $1,000 per month
- Provide active contact details including cell phone number and email address
- Give their SSN
If a borrower does not meet the above requirements, they will immediately be denied a payday loan. Make sure you possess the documents needed when applying.
Laws and Regulations Concerning Cash Advance Loans in Mansfield, TX
Texas has ruled paycheck advance lending legal. Although, they have put forth the below rules and regulations for the payday lending industry:
- A single lender cannot offer a loan in excess of $600. Borrowers are not allowed to possess more than two active loans from different lenders. There is no smallest loan amount.
- The minimum loan term is not set, the maximum loan term length is 31 days. In Texas, borrowers may not rollover their loans.
- The fees and charges vary for each money lender. The service fees charged by lenders on each loan or transaction do not fall under interest. The service fees apply to every $100 borrowed and can vary from 11% up to 15%.
- An interest rate must be mutually decided upon. APR can be as much as 369%.
Will Payday Lenders in Mansfield, TX, Run Credit Checks? What If I Have Bad/No Credit History At All?
Yes, the lenders we partner with will complete a credit check on you, but, even if you have no credit or less than optimal credit, you may still be approved for a loan as long as you can show that you are able to pay back the loan. Lenders are usually unbothered by your credit if you provide proof of income and a strategy to pay back the loan.
Lenders will use a soft credit pull, which will not impact your credit score. This is simply to get a feel of your credit history and general information.
A hard credit check, dissimilarly, needs your explicit consent. These credit checks are used for a variety of purposes, such as mortgages, credit card applications, and more.
You can still be approved for a paycheck advance loan with imperfect credit in Mansfield, TX, provided that you have proof of repayment.
So, 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 proof you have, the more likely your loan application will be approved.
When Will I Get My Funds in Mansfield, TX?
When you get your cash actually depends on the lender as some lenders provide same-day payday loans, which means you will get your payday loan on the same day you submit your application, as long as you're approved.
Most of the time, though, lenders will send the borrower their lump sum on the following business day. Businesses typically close for holidays and weekends. So, if you apply on a Friday, you may not see your loan until Monday.
If you're needing a same-day cash advance loan in Mansfield, Texas, you will need to ensure you're applying by 10:30 am. Any and all same-day deposits going out that day will be approved by that time. However, you should request a loan earlier than that if possible, as it will increase the likelihood that you receive your deposit on the same day that you apply.
One other factor that you should understand is even if the money lender grants your loan request and posts the loan to your bank account, occasionally the bank won't release that funds right away. It's vital that you let your bank know that you plan to get a payday advance loan, so they could possibly make an exception in releasing the money earlier.
Overall, it's best to prepare ahead of time to receive your deposit on the next business day. That way, you're not surprised if you cannot get it on the same day.
Think About Borrowing From Us
If you have less than great credit or no credit and are needing to secure a payday loan, consider applying through us, as you frequently have a better chance of approval.
We work with hundreds of different lenders who offer their services online. Frequently you will get your loan on the next business day so make sure that you plan appropriately.
However, you can always find the nearest payday loan storefront to you and apply in person to boost the chances of getting your cash on the same business day. When applying in person, make sure that you have your government ID or driver's license; a passport will work as well. Sometimes, lenders may ask for proof of address, so take along a utility bill to the store too.
To find the nearest cash advance loan store, please use the list below and find your city.
Payday Loan Direct Lender Companies in Mansfield, TX
Below you will find a list of payday loan companies offering their services in Mansfield, Texas. If you can't find a lender near your location in Mansfield, 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 Mansfield, 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.