Payday Loans in Progreso, Texas
Incidents happen, and we usually find ourselves in a place where we must cover some unexpected expenses. Consider submitting an application for a payday advance loan in Progreso, Texas, to see if you qualify.
The application process is quick and effortless. To qualify, borrowers have to satisfy a couple of basic criteria.
What is a Cash Advance Loan? What Can It Be Put Towards?
A paycheck advance loan is where the borrower will be extended a petite amount of funds on a short-term contract. This is deemed to be an unsecured loan due to the fact that no collateral is required.
When unforeseen expenses come up, for example late rent or utility payments, car costs, medical or vet bills, and so on, individuals usually rely upon payday loans.
Payday Advance Loan Requirements In Progreso, Texas
In Progreso, TX, paycheck advance loan borrowers are required to meet a few criteria to be eligible for a loan.
The borrower must:
- Provide proof that they are a resident of Progreso, TX
- Must be 18 years old
- Have an income that they can provide proof of being at least $1,000 per month
- Give up-to-date contact details including cell phone number and email address
- Provide their social security number
If a borrower does not abide by the above criteria, they will automatically be denied a payday advance loan. Make sure you can provide the documents needed when applying.
Laws and Rules Regarding Paycheck Advance Loans in Progreso, Texas
The State of Texas has ruled payday lending legal. However, they have enacted the following rules and regulations for the paycheck advance lending market:
- An individual money lender can't offer a loan in excess of $600. Borrowers are not allowed to possess greater 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 are not allowed to rollover their loans.
- The fees and charges are different for each money lender. The service costs charged by the lender on a cash advance loan are not considered interest. The service fees apply to every $100 loaned and can vary between 11-15%.
- An interest rate is required to be mutually agreed upon. APR can be as much as 369%.
Will Cash Advance Lenders in Progreso, Texas, 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 less than optimal credit, you may still be eligible for a loan provided you can prove that you are able to repay the loan. Lenders are typically unbothered by your credit if you possess proof of income and a strategy to pay back the loan.
Lenders will rely on a soft credit check, which will not impact your credit score. This is simply to get an idea of your credit history and basic information.
A hard credit pull, on the other hand, must have your explicit consent. These credit pulls are done for a plethora of purposes, such as mortgages, credit cards, and more.
You can still be approved for a paycheck advance loan with poor credit in Progreso, TX, if you can prove you will repay the loan.
Therefore, when you apply for a loan, whether it is in person or online, ensure that you have your income information ready and any other documents verifying that you can pay back the loan. The more evidence you possess, the more likely your loan request will be granted.
When Will I Receive My Cash in Progreso, Texas?
When you see your funds actually depends on the lender as some lenders advertise same-day paycheck advance loans, which means you will get your cash advance loan on the same day you apply, as long as you receive an approval.
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. Therefore, if you submit your application on a Friday, you may not get your funds until Monday.
If you're needing a same-day payday loan in Progreso, Texas, you will need to be sure that you're applying by 10:30 am. Any and all same-day funds going out that day will be approved by that cut-off. However, you should submit an application earlier than that if possible, as it will increase the likelihood that you receive your money on the day that you submit your application.
One more consideration that you should know is despite if the money lender approves your application and posts the deposit to your bank, sometimes the bank won't release that credit immediately. It's paramount that you let your bank know that you plan to get a payday loan, so they could possibly make an exception in releasing the deposit earlier.
Overall, it's wise to prepare ahead of time to get your deposit on the following business day. That way, you're not left in the lurch if you cannot get it on the same day.
Think About Borrowing From Us
If you possess less than great credit or no credit and are looking to get a cash advance loan, consider applying through us, as you frequently have a higher chance of approval.
We partner with more than one hundred different lenders who offer their services online. Much of the time you will receive your money on the following business day so ensure that you plan accordingly.
However, you can always find the nearest cash advance loan storefront to you and apply in person to strengthen the chances of getting your money 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. Occasionally, lenders may request proof of address, so bring a utility bill to the store as well.
To locate the nearest paycheck advance loan store, please use the list below and find your city.
Payday Loan Direct Lender Companies in Progreso, TX
Below you will find a list of payday loan companies offering their services in Progreso, Texas. If you can't find a lender near your location in Progreso, 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 Progreso, 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.