Payday Loans in Orem, Utah

Events happen, and we often find ourselves in a situation where we have to pay for some surprise bills. Think about submitting an application for a cash advance loan in Orem, Utah, to see if you qualify.

The application process is fast and straightforward. To be eligible, you must meet a couple of general requirements.

What is a Paycheck Advance Loan? What Can It Pay For?

A payday advance loan is where the borrower will be extended a petite amount of funds on a short-term agreement. This is thought of as an unsecured loan as no collateral is needed.

When unforeseen bills come up, for example missed rent or utility payments, auto costs, health or vet costs, and so on, people frequently rely upon cash advance loans.

Cash Advance Loan Criteria In Orem, UT

In Orem, UT, cash advance loan borrowers must satisfy several requirements to be eligible for a loan.

The borrower must:

• Show proof that they live in Orem, UT
• Must be 18 years of age
• Receive a steady stream of income that they can provide proof of being at least $1,000 per month
• Give up-to-date contact details such as 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 payday loan. Ensure that you can provide the documentation required when requesting a loan.

Laws and Rules Regarding Paycheck Advance Loans in Orem, Utah

The State of Utah has ruled payday advance lending legal. Although, they have put forth the following rules and laws for the paycheck advance lending market:

• An individual money lender cannot extend a loan greater than $600. Borrowers are not allowed to have greater 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 the State of Utah, borrowers are unable to rollover their loans.
• The fees and charges are different for each loan lender. The service fees charged by the lender on a 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 is required to be mutually decided upon. APR can range up to 369%.

Will Payday Lenders in Orem, UT, Perform Credit Checks? What If I Have Bad/No Credit History At All?

Yes, the lenders we partner with will perform a credit check on you, still, even if you have no credit or bad credit, you might still be approved for a loan given that you can prove that you can pay back the loan. Lenders are commonly unbothered by your credit if you provide proof of income and a plan to pay back the loan.

Lenders will conduct 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 inquiry, on the other hand, requires your explicit consent. These credit pulls are done for various purposes, such as mortgages, credit cards, and more.

You can still qualify for a paycheck advance loan with poor credit in Orem, Utah, as long as you can prove you will repay the loan.

Therefore, when you apply, albeit in person or online, double check that you have your income information easily accessible and any other documents verifying that you can pay back the loan. The more evidence you have, the better chance your loan application will be approved.

When Will I Receive My Loan in Orem, UT?

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

Most of the time, though, lenders will send the borrower their lump sum on the following business day. Businesses usually close for holidays and weekends. Because of this, if you apply on a Friday, you might not see your loan until Monday.

If you're looking for a same-day payday advance loan in Orem, Utah, you will need to ensure you're applying by 10:30 am. All same-day loans going out that day will be approved by that time. However, you should apply earlier than that if possible, as it will increase the likelihood that you get your loan on the same day that you submit your application.

One other consideration that you should be aware of is despite if the lender grants your loan request and posts the deposit to your bank, occasionally the bank won't release that funds immediately. It's vital that you let your bank know that you plan to receive a payday advance loan, so they could possibly make an exception in releasing the loan earlier.

Overall, it's wise to prepare in advance to receive your deposit on the next business day. That way, you're not out of luck if you cannot get it on the same day.

Consider Working With Us

If you possess bad credit or no credit and are wanting to secure a payday advance loan, consider applying through us, as you frequently have a higher chance of approval.

We partner with hundreds of different lenders who offer their services online. Frequently you will get your loan on the next business day so ensure that you plan appropriately.

Although, you can always find the closest payday advance loan storefront to you and apply in person to strengthen the chances of getting your money on the same day. When requesting a loan in person, make sure that you have your government ID or driver's license; a passport will work as well. Sometimes, lenders may request proof of address, so bring a utility bill to the store as well.

To find the nearest cash advance loan storefront, please use the list below and search for your city.

Payday Loan Direct Lender Companies in Orem, UT

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