Payday Loans in Port Arthur, Texas
Life happens, and we usually end up in a situation where we have to pay for some unexpected bills. Think about submitting an application for a paycheck advance loan in Port Arthur, TX, to see if you meet the requirements.
The loan request process is fast and effortless. To be qualified, borrowers must meet a few basic criteria.
What is a Cash Advance 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 agreement. This is considered an unsecured personal loan due to the fact that no collateral is needed.
When unexpected costs present themselves, for example late rent or utility costs, car costs, health or vet bills, and so forth, people frequently rely upon paycheck advance loans.
Cash Advance Loan Criteria In Port Arthur, TX
In Port Arthur, Texas, payday advance loan borrowers need to satisfy a few requirements to qualify for a loan.
The borrower must:
- Provide proof that they reside in Port Arthur, TX
- Must be at least 18
- Receive a steady stream of income that they can prove that's at least $1,000 per month
- Provide current contact information such as cell phone number and email address
- Provide their SSN
If a borrower does not meet the above criteria, they will automatically be denied a cash advance loan. Make sure you have the documents needed when requesting a loan.
Laws and Regulations Concerning Payday Advance Loans in Port Arthur, TX
The State of Texas has ruled paycheck advance lending legal. However, they have set the below rules and laws for the payday lending industry:
- An individual money lender cannot offer a loan in excess of $600. Borrowers cannot possess greater than two unpaid loans from different lenders. There is no minimum loan amount.
- There is no minimum loan term, the maximum loan term length is 31 days. In Texas, borrowers cannot rollover their loans.
- The fees and charges vary for each lender. The service fees enacted by lenders on a payday loan are not considered interest. The service fees apply to each $100 borrowed and can range from 11% up to 15%.
- An interest rate must be mutually decided upon. APR can range up to 369%.
Will Payday Advance Lenders in Port Arthur, TX, Complete 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, still, even if you have no credit or dismal credit, you may still be approved for a loan given that you can prove that you are able to repay the loan. Lenders are commonly unbothered by your credit history if you possess proof of income and a plan to pay back the loan.
Lenders will rely on a soft credit check, which will have no impact on your credit score. This is solely to get an idea of your credit history and basic information.
A hard credit pull, dissimilarly, must have your explicit consent. These credit pulls are done for a variety of purposes, including mortgages, credit card applications, and more.
You may still qualify for a payday loan with imperfect credit in Port Arthur, Texas, as long as you have proof of repayment.
So, when you apply, whether it is in person or online, make sure that you have your income information ready and any other documents proving that you can pay back the loan. The more proof you have, the more likely your loan request will be granted.
When Will I See My Loan in Port Arthur, Texas?
When you see your deposit truly relies on your lender as some lenders provide same-day payday advance loans, which means you will receive your payday loan on the same day you apply, as long as you're approved.
Much of the time, though, lenders will send the borrower their lump sum on the following business day. Businesses often close for holidays and weekends. So, if you submit your application on a Friday, you might not see your cash until Monday.
If you're wanting a same-day payday advance loan in Port Arthur, Texas, you will need to make sure you're applying by 10:30 am. All same-day funds going out that day will be approved by that deadline. However, you should apply earlier than that if able, as it will boost the likelihood that you get your deposit on the day that you submit your application.
One additional factor that you should know is even if the lender grants your loan request and posts the deposit 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 might make an exception in releasing the loan earlier.
On the whole, it's wise to prepare in advance to get cash on the next business day. That way, you're not left in the lurch if you cannot receive it on the same day.
Think About Working With Us
If you have less than great credit or no credit and are searching to get a payday advance loan, think about applying through us, as you frequently have a better chance of approval.
We work with hundreds of different lenders who offer their services online. Often you will receive your money on the next business day so make sure that you plan correctly.
Although, you can always find the nearest payday advance loan store to you and apply in person to increase the chances of getting your funds 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 bring a utility bill to the store too.
To find the nearest cash advance loan storefront, please use the list below and find your city.
Payday Loan Direct Lender Companies in Port Arthur, TX
Below you will find a list of payday loan companies offering their services in Port Arthur, Texas. If you can't find a lender near your location in Port Arthur, 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 Port Arthur, 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.