Payday Loans in Temple, Texas
Life happens, and we usually end up in a spot where we have to pay for some unexpected costs. Think about applying for a payday advance loan in Temple, TX, to see if you are eligible.
The loan request process is quick and effortless. To qualify, borrowers must satisfy a few basic conditions.
What is a Payday Loan? What Can It Cover?
A payday loan is where the borrower will receive a petite amount of money on a short-term contract. This is deemed to be an unsecured personal loan as no collateral is expected.
When unexpected financial needs arise, like late rent or utility payments, auto fixes, health or vet bills, and so on, individuals often seek out cash advance loans.
Payday Advance Loan Stipulations In Temple, Texas
In Temple, Texas, payday loan borrowers are required to satisfy a few criteria to qualify for a loan.
The borrower must:
- Prove that they live in Temple, TX
- Must be 18 or older
- Have an income that they can provide proof of being at least $1,000 per month
- Provide active contact details including phone number and email address
- Provide their social security number
If a borrower does not satisfy the above requirements, they will automatically be denied a cash advance loan. Ensure that you possess the documents needed when submitting your application.
Laws and Rules Regarding Cash Advance Loans in Temple, Texas
Texas has ruled payday lending legal. Still, they have put forth the following rules and laws for the cash advance lending market:
- A single money lender cannot offer a loan greater than $600. Borrowers are not allowed to have greater than two active loans from different lenders. There is no smallest loan amount.
- The minimum loan term is not determined, the maximum loan term length is 31 days. In the State of Texas, borrowers are not allowed to rollover their loans.
- The fees and charges change for each lender. The service costs enacted by lenders on a payday loan are not considered interest. The service fees apply to every $100 borrowed and can vary between 11-15%.
- An interest rate is required to be mutually decided upon. APR can be as much as 369%.
Will Cash Advance Lenders in Temple, TX, Complete Credit Checks? What If I Have Dismal/No Credit History At All?
Yes, the lenders we work with will run a credit check on you, still, even if you have no credit or bad credit, you might still be eligible for a loan provided you can show that you can repay the loan. Lenders are commonly unconcerned about your credit history if you possess proof of income and a plan to pay back the loan.
Lenders will perform 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 general information.
A hard credit inquiry, on the other hand, must have your permission. These credit pulls are used for various purposes, such as mortgages, credit cards, and more.
You might still be approved for a paycheck advance loan with less than great credit in Temple, Texas, as long as you can prove you will repay the loan.
Therefore, when you apply for a loan, albeit in person or online, ensure that you have your income information easily accessible and any other documents verifying that you can pay back the loan. The more evidence you possess, the better chance you are to be approved.
When Will I Receive My Loan in Temple, TX?
When you see your deposit truly relies on your lender as some lenders advertise same-day payday loans, which means you will receive your payday advance loan on the same day you apply, as long as you receive an approval.
Most of the time, however, lenders will send the borrower their lump sum on the next business day. Businesses typically close for holidays and weekends. So, if you apply on a Friday, you might not see your loan until Monday.
If you're searching for a same-day cash advance loan in Temple, TX, you will need to ensure you're applying by 10:30 am. All same-day funds going out that day will be approved by that deadline. However, you should request a loan earlier than that if able, as it will increase the likelihood that you get your deposit on the same day that you submit your application.
One more consideration that you should be aware of is even if the lender approves your application and posts the credit to your bank account, occasionally the bank won't release that loan right away. It's paramount that you let your bank know that you plan to receive a cash advance loan, so they could possibly make an exception in releasing the funds earlier.
Overall, it's wise to prepare in advance to receive your funds on the next business day. That way, you're not out of luck if you cannot get it on the same day.
Think About Working With Us
If you have underwhelming credit or no credit and are wanting to get a paycheck advance loan, consider applying with us, as you usually have a better chance of approval.
We work with hundreds of different lenders who offer their services online. Often you will see your loan on the next business day so make sure that you plan accordingly.
Although, you can always find the nearest payday advance loan storefront to you and apply in person to strengthen the chances of seeing your loan 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. Infrequently, lenders may ask for proof of address, so take along a utility bill to the store as well.
To locate the nearest paycheck advance loan store, please navigate to the list below and find your city.
Payday Loan Direct Lender Companies in Temple, TX
Below you will find a list of payday loan companies offering their services in Temple, Texas. If you can't find a lender near your location in Temple, 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 Temple, 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.