Payday Loans in Magna, Utah

Things happen, and we usually wind up in a spot where we have to pay for some unexpected costs. Think about submitting an application for a paycheck advance loan in Magna, UT, to see if you are eligible.

The loan process is fast and simple. To be eligible, you have to satisfy a couple of general criteria.

What is a Paycheck Advance Loan? What Can It Be Put Towards?

A cash advance loan is where the borrower will get a small amount of money on a short-term agreement. This is considered an unsecured personal loan as no collateral is required.

When unforeseen bills arise, for example late rent or utility costs, car costs, medical or vet fees, and so forth, people commonly rely upon paycheck advance loans.

Paycheck Advance Loan Requirements In Magna, Utah

In Magna, Utah, paycheck advance loan borrowers are required to meet several criteria to be eligible for a loan.

The borrower has to:

• Provide proof that they reside in Magna, UT
• Must be at least 18
• Receive an income that they can prove that's at least $1,000 per month
• Give active contact information like cell phone number and email address
• Provide their SSN

If a borrower does not abide by the above criteria, they will automatically be denied a payday loan. Ensure that you can provide the documents needed when submitting your application.

Laws and Rules Regarding Cash Advance Loans in Magna, Utah

The State of Utah has ruled payday advance lending legal. Although, they have enacted the below rules and laws for the payday lending industry:

• An individual money lender cannot offer a loan for more than $600. Borrowers cannot take out more than two outstanding 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 Utah, borrowers are unable to 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 between 11-15%.
• An interest rate must be mutually settled upon. APR can range up to 369%.

Will Paycheck Advance Lenders in Magna, UT, Complete Credit Checks? What If I Have Dismal/No Credit History At All?

Yes, the lenders we work with will perform a credit check on you, but, even if you have no credit or dismal credit, you may still be eligible for a loan provided you can prove that you are able to pay back the loan. Lenders are typically unconcerned about your credit if you offer proof of income and a strategy to repay the loan.

Lenders will perform a soft credit check, which will not impact your credit score. This is solely to get a look at your credit history and basic information.

A hard credit inquiry, alternatively, needs your permission. These credit pulls are performed for various purposes, such as mortgages, credit card applications, and more.

You might still be approved for a paycheck advance loan with imperfect credit in Magna, UT, provided that you can prove you will repay the loan.

Therefore, when you request a loan, albeit in person or online, double check that you have your income information ready and any other documents verifying that you can repay the loan. The more proof you have, the better chance your loan request will be granted.

When Will I Receive My Cash in Magna, UT?

When you see your cash actually depends on the lender as some lenders offer same-day paycheck advance loans, which means you will see your paycheck advance loan on the same day you submit your application, as long as you're approved.

Most of the time, however, lenders will give the borrower their lump sum on the following business day. Businesses generally close for holidays and weekends. So, if you submit your application on a Friday, you might not get your deposit until Monday.

If you're needing a same-day payday loan in Magna, Utah, you will need to make sure you're applying by 10:30 am. All same-day deposits going out that day will be approved by that deadline. However, you should submit an application earlier than that if able, as it will increase the likelihood that you get your loan on the day that you submit your application.

One more factor that you should be aware of is despite if the money lender approves your application and posts the funds to your bank account, occasionally the bank won't release that deposit 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.

Overall, it's wise to prepare ahead of time to receive your deposit on the following business day. That way, you're not left in the lurch if you cannot receive it on the same day.

Think About Borrowing From PaydayLoanRadar

If you have poor credit or no credit and are looking to get a payday loan, think about applying through us, as you probably have a higher chance of approval.

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

Although, you can always find the nearest cash advance loan store to you and apply in person to increase the chances of seeing your cash on the same business day. When requesting a loan in person, ensure that you have your government ID or driver's license; a passport is sufficient. Sometimes, lenders may request proof of address, so take along a utility bill to the store as well.

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

Payday Loan Direct Lender Companies in Magna, UT

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