Payday Loans in Weslaco, Texas
Things happen, and we usually wind up in a situation where we have to pay for some unexpected bills. Consider submitting an application for a payday advance loan in Weslaco, TX, to see if you are eligible.
The application process is swift and simple. To be eligible, borrowers must meet a few straightforward criteria.
What is a Paycheck Advance Loan? What Can It Pay For?
A paycheck advance loan is where the borrower will get a small sum of cash on a short-term contract. This is considered an unsecured loan due to the fact that no collateral is needed.
When surprise financial needs arise, for example missed rent or utility bills, auto fees, medical or vet fees, and so on, individuals commonly seek out cash advance loans.
Payday Loan Criteria In Weslaco, Texas
In Weslaco, TX, payday advance loan borrowers must satisfy a few requirements to be eligible for a loan.
The borrower must:
- Show proof that they live in Weslaco, TX
- Must be 18 years old
- Have an income that they can provide proof of being at least $1,000/month
- Provide current contact information such as cell phone number and email address
- Give their SSN
If a borrower does not satisfy the above requirements, they will immediately be denied a paycheck advance loan. Ensure that you possess the documentation needed when submitting your application.
Laws and Rules Concerning Paycheck Advance Loans in Weslaco, Texas
Texas has ruled paycheck advance lending legal. Still, they have enacted the below rules and regulations for the paycheck advance lending market:
- An individual lender cannot extend a loan greater than $600. Borrowers may not have greater than two active 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 not allowed to rollover their loans.
- The fees and charges change for each money lender. The service fees enacted by lenders on each loan or transaction do not fall under interest. The service fees apply to every $100 loaned and can range from 11% up to 15%.
- An interest rate must be mutually decided upon. APR can be as high as 369%.
Will Payday Lenders in Weslaco, Texas, Run 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 might still be eligible for a loan as long as you can show that you can pay back the loan. Lenders are typically unbothered by your credit history if you possess proof of income and a plan to repay the loan.
Lenders will rely on a soft credit pull, which will not impact your credit score. This is solely to get a feel of your credit history and general information.
A hard credit pull, on the other hand, needs your permission. These credit checks are used for a plethora of purposes, such as mortgages, credit card applications, and more.
You may still qualify for a cash advance loan with less than great credit in Weslaco, TX, as long as you can prove you will repay the loan.
So, when you apply, whether it is in person or online, make sure that you have your income information at hand and any other documents showing that you can pay back the loan. The more proof you have, the better chance you are to be approved.
When Will I Receive My Cash in Weslaco, Texas?
When you receive your cash truly relies on the lender as some lenders offer same-day cash advance loans, which means you will get your payday advance loan on the same day you submit your application, 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 typically close for holidays and weekends. So, if you apply on a Friday, you may not see your funds until Monday.
If you're searching for a same-day payday advance loan in Weslaco, Texas, you will need to ensure you're applying by 10:30 am. Any and all same-day deposits going out that day will be approved by that time. However, you should submit an application earlier than that if possible, as it will increase the likelihood that you receive your cash on the same day that you apply.
One more factor that you should know is even if the money lender grants your loan request 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 receive a paycheck advance loan, so they could possibly make an exception in releasing the deposit earlier.
Overall, it's wise to prepare in advance to get cash on the following 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 less than great credit or no credit and are wanting to secure a cash advance loan, consider applying with us, as you most likely have a better chance of approval.
We work with more than one hundred different lenders who provide their services online. Most of the time you will get your deposit on the next 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 increase the chances of getting your funds on the same business day. When submitting an application 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 find the nearest payday advance loan store, please use the list below and search for your city.
Payday Loan Direct Lender Companies in Weslaco, TX
Below you will find a list of payday loan companies offering their services in Weslaco, Texas. If you can't find a lender near your location in Weslaco, 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 Weslaco, 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.