Payday Loans in Stephenville, Texas
Life happens, and we usually end up in a situation where we must pay for some unforeseen bills. Consider applying for a payday advance loan in Stephenville, Texas, to see if you meet the requirements.
The loan application process is swift and straightforward. To qualify, loan borrowers must satisfy a few straightforward conditions.
What is a Payday Loan? What Can It Be Used For?
A paycheck advance loan is where the borrower will get a small amount of funds on a short-term agreement. This is considered an unsecured personal loan as no collateral is expected.
When unforeseen expenses present themselves, such as missed rent or utility costs, car bills, medical or vet expenditures, and so on, individuals usually turn to cash advance loans.
Payday Advance Loan Criteria In Stephenville, TX
In Stephenville, Texas, cash advance loan borrowers must satisfy a few requirements to qualify for a loan.
The borrower has to:
- Show proof that they are a resident of Stephenville, TX
- Must be 18 years of age
- Receive a steady stream of income that they can provide proof of being at least $1,000/month
- Give active contact details like phone number and email address
- Give their social security number
If a borrower does not meet the above criteria, they will immediately be denied a cash advance loan. Make sure you possess the documentation required when submitting your application.
Laws and Rules Regarding Payday Loans in Stephenville, TX
The State of Texas has deemed payday lending legal. Still, they have enacted the following rules and laws for the payday lending industry:
- An individual money lender cannot offer a loan for more than $600. Borrowers may not possess greater than two outstanding 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 are unable 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 range from 11% up to 15%.
- An interest rate is required to be mutually decided upon. APR can be as much as 369%.
Will Cash Advance Lenders in Stephenville, Texas, Complete Credit Checks? What If I Have Poor/No Credit History At All?
Yes, the lenders we partner with will run a credit check on you, still, even if you possess no credit or less than optimal credit, you may still be eligible for a loan provided you can prove that you can pay back the loan. Lenders are usually unbothered by your credit if you offer proof of income and a plan to pay back the loan.
Lenders will rely on a soft credit inquiry, which will have no impact on your credit score. This is only to get an idea of your credit history and basic information.
A hard credit check, alternatively, needs your explicit consent. These credit inquiries are used for various purposes, including mortgages, credit cards, and more.
You might still qualify for a payday advance loan with bad credit in Stephenville, Texas, as long as you can prove you will repay the loan.
Therefore, when you apply, albeit in person or online, make sure that you have your income information easily accessible and any other documents verifying that you can repay the loan. The more proof you possess, the more likely your loan request will be granted.
When Will I Receive My Funds in Stephenville, Texas?
When you see your cash actually relies on the lender as some lenders provide same-day cash advance loans, which means you will get your paycheck advance loan on the same day you request a loan, as long as you receive an approval.
Much of the time, however, lenders will give the borrower their lump sum on the next business day. Businesses generally close for holidays and weekends. So, if you apply on a Friday, you might not receive your money until Monday.
If you're wanting a same-day payday loan in Stephenville, TX, you will need to ensure you're applying by 10:30 am. All same-day deposits 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 deposit on the same day that you apply.
One more consideration that you should be aware of is even if the lender grants your loan request and posts the credit to your bank, sometimes the bank won't release that funds at that time. 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 cash earlier.
On the whole, it's wise to prepare in advance to receive your funds on the next business day. That way, you're not surprised if you cannot receive it on the same day.
Consider Working With Us
If you have less than great credit or no credit and are searching to get a paycheck advance loan, think about applying with us, as you most likely have a better chance of approval.
We partner with hundreds of different lenders who offer their services online. Often you will see your money on the following business day so make sure that you plan accordingly.
Although, you can always find the closest payday loan storefront to you and apply in person to strengthen the chances of getting your cash on the same day. When submitting an application in person, ensure that you have your government ID or driver's license; a passport is sufficient. Sometimes, lenders may ask for proof of address, so take along a utility bill to the store too.
To find the nearest paycheck advance loan storefront, please navigate to the list below and find your city.
Payday Loan Direct Lender Companies in Stephenville, TX
Below you will find a list of payday loan companies offering their services in Stephenville, Texas. If you can't find a lender near your location in Stephenville, 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 Stephenville, 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.