Payday Loans in Lehi, Utah

Things happen, and we usually end up in a spot where we have to cover some unexpected costs. Consider applying for a payday loan in Lehi, UT, to see if you are eligible.

The loan process is fast and effortless. To qualify, loan borrowers have to meet a couple of basic requirements.

What is a Payday Loan? What Can It Cover?

A payday loan is where the borrower will be extended a small sum of cash on a short-term agreement. This is considered an unsecured loan because no collateral is needed.

When surprise expenses come up, such as late rent or utility payments, vehicle fixes, health or vet bills, and so on, people usually rely upon payday loans.

Payday Advance Loan Criteria In Lehi, Utah

In Lehi, Utah, payday advance loan borrowers must meet a few requirements to qualify for a loan.

The borrower has to:

• Provide proof that they live in Lehi, Utah
• Must be 18 years of age
• Receive a steady income that they can prove that's at least $1,000 per month
• Give up-to-date contact information such as cell phone number and email address
• Give their social security number

If a borrower does not abide by the above rules, they will immediately be denied a payday loan. Make sure you can provide the documentation needed when requesting a loan.

Laws and Rules Regarding Payday Loans in Lehi, UT

The State of Utah has deemed paycheck advance lending legal. Although, they have enacted the following rules and laws for the paycheck advance lending industry:

• An individual money lender can't extend a loan in excess of $600. Borrowers may not have more 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 Utah, borrowers may not rollover their loans.
• The fees and charges vary for each lender. The service fees charged by the lender on a cash advance loan 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 agreed upon. APR can be as high as 369%.

Will Payday Advance Lenders in Lehi, UT, Perform Credit Checks? What If I Have Poor/No Credit History At All?

Yes, the lenders we partner with will complete a credit check on you, still, even if you possess no credit or bad credit, you might still be eligible for a loan given that you can prove that you are able to repay the loan. Lenders are generally unconcerned about your credit history if you offer proof of income and a strategy to repay the loan.

Lenders will rely on a soft credit inquiry, 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 check, dissimilarly, requires your permission. These credit checks are done for a plethora of purposes, including mortgages, credit card applications, and more.

You may still be approved for a cash advance loan with imperfect credit in Lehi, Utah, provided that you can prove you will repay the loan.

So, when you request a loan, albeit in person or online, make sure that you have your income information easily accessible and any other documents proving that you can repay the loan. The more evidence you show, the more likely you are to be approved.

When Will I See My Funds in Lehi, UT?

When you get your deposit truly depends on the lender as some lenders advertise same-day paycheck advance loans, which means you will see your payday loan on the same day you submit your application, as long as you get an approval.

Most of the time, however, lenders will give the borrower their lump sum on the following business day. Businesses often close for holidays and weekends. Therefore, if you apply on a Friday, you may not see your funds until Monday.

If you're wanting a same-day paycheck advance loan in Lehi, UT, 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 deadline. However, you should request a loan earlier than that if possible, as it will increase the likelihood that you get your cash on the day that you apply.

One additional factor that you should understand is even if the money lender grants your loan request and posts the funds to your checking account, occasionally the bank won't release that deposit immediately. It's paramount that you let your bank know that you plan to get a cash advance loan, so they might make an exception in releasing the deposit earlier.

On the whole, it's wise to prepare ahead of time to receive cash on the next business day. That way, you're not left in the lurch if you cannot receive it on the same day.

Consider Borrowing From Us

If you possess less than great credit or no credit and are needing to secure a payday advance loan, think about applying through us, as you usually have a better chance of approval.

We partner with hundreds of different lenders who offer their services online. Often you will get your loan on the following business day so make sure that you plan correctly.

However, you can always locate the nearest paycheck advance loan storefront to you and apply in person to boost the chances of seeing your loan on the same day. When requesting a loan in person, ensure that you have your government ID or driver's license; a passport is sufficient. Occasionally, lenders may request proof of address, so bring a utility bill to the store too.

To locate the nearest payday loan store, please refer to the list below and search for your city.

Payday Loan Direct Lender Companies in Lehi, UT

Below you will find a list of payday loan companies offering their services in Lehi, Utah. If you can't find a lender near your location in Lehi, consider applying in a nearby city in Utah. Alternatively, you can apply online on our website and get a decision almost instantly.