Payday Loans in Mission, Texas
Events happen, and we usually find ourselves in a situation where we must pay for some surprise costs. Think about applying for a paycheck advance loan in Mission, Texas, to see if you meet the requirements.
The loan application process is fast and simple. To be eligible, you have to satisfy a couple of simple requirements.
What is a Paycheck Advance Loan? What Can It Pay For?
A cash advance loan is where the borrower will receive a small amount of money on a short-term agreement. This is thought of as an unsecured loan due to the fact that no collateral is expected.
When surprise bills present themselves, like late rent or utility payments, auto fees, health or vet payments, and so on, individuals commonly seek out payday advance loans.
Paycheck Advance Loan Criteria In Mission, Texas
In Mission, Texas, cash advance loan borrowers are required to satisfy a few stipulations to qualify for a loan.
The borrower must:
- Show proof that they live in Mission, Texas
- Must be 18 years old
- Have a steady income that they can provide proof of being at least $1,000 per month
- Provide current contact information such as phone number and email address
- Provide their SSN
If a borrower does not abide by the above criteria, they will automatically be denied a payday loan. Ensure that you possess the documentation needed when requesting a loan.
Laws and Rules Regarding Payday Advance Loans in Mission, Texas
Texas has ruled payday advance lending legal. Still, they have created the below rules and laws for the paycheck advance lending industry:
- A single lender cannot extend a loan for more than $600. Borrowers are not allowed to have greater than two unpaid loans from different lenders. There is no minimum 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 lender. The service fees charged by lenders on each loan or transaction are not considered interest. The service fees apply to every $100 loaned and can vary from 11% up to 15%.
- An interest rate is required to be mutually settled upon. APR can range up to 369%.
Will Payday Lenders in Mission, Texas, Perform Credit Checks? What If I Have Bad/No Credit History At All?
Yes, the lenders we partner with will do a credit check on you, but, even if you have no credit or bad credit, you may still be eligible for a loan given that you can show that you can pay back the loan. Lenders are typically unconcerned about your credit history if you possess proof of income and a plan to repay the loan.
Lenders will use a soft credit check, which will have no impact on your credit score. This is simply to get a look at your credit history and general information.
A hard credit inquiry, dissimilarly, must have your permission. These credit inquiries are utilized for a plethora of purposes, including mortgages, credit cards, and more.
You may still qualify for a cash advance loan with less than great credit in Mission, TX, provided that you have proof of repayment.
So, 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 proof you show, the more likely your loan request will be granted.
When Will I Receive My Cash in Mission, Texas?
When you see your cash really depends on the lender as some lenders provide same-day payday advance loans, which means you will get your paycheck advance loan on the same day you apply, as long as you're approved.
Much of the time, though, lenders will give the borrower their lump sum on the next business day. Businesses generally close for holidays and weekends. Because of this, if you apply on a Friday, you might not get your deposit until Monday.
If you're searching for a same-day cash advance loan in Mission, TX, you will need to make sure you're applying by 10:30 am. Any and all same-day funds going out that day will be approved by that deadline. However, you should apply earlier than that if possible, as it will increase the likelihood that you receive your deposit on the same day that you submit your application.
One additional factor that you should be aware of is despite if the money lender approves your application and posts the deposit to your bank, sometimes the bank won't release that funds immediately. It's vital that you let your bank know that you plan to get a paycheck advance loan, so they might make an exception in releasing the cash earlier.
On the whole, it's wise to prepare ahead of time to receive your deposit on the next business day. That way, you're not left in the lurch if you cannot get it on the same day.
Consider Borrowing From PaydayLoanRadar
If you have bad credit or no credit and are needing to secure a paycheck advance loan, consider applying through us, as you usually have a higher chance of approval.
We partner with hundreds of different lenders who provide their services online. Most of the time you will see your funds on the following business day so ensure that you plan accordingly.
Although, you can always locate the nearest cash advance loan storefront to you and apply in person to strengthen 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 is sufficient. Occasionally, lenders may request proof of address, so take along a utility bill to the store too.
To locate the nearest cash advance loan store, please navigate to the list below and search for your city.
Payday Loan Direct Lender Companies in Mission, TX
Below you will find a list of payday loan companies offering their services in Mission, Texas. If you can't find a lender near your location in Mission, 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 Mission, 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.