Payday Loans in South Salt Lake, Utah

Life happens, and we often end up in a place where we have to cover some unforeseen expenses. Consider submitting an application for a payday advance loan in South Salt Lake, UT, to see if you qualify.

The application process is swift and painless. To be qualified, loan borrowers must satisfy a couple of straightforward conditions.

What is a Cash Advance Loan? What Can It Cover?

A paycheck advance loan is where the borrower will be extended a small amount of funds on a short-term contract. This is deemed to be an unsecured loan due to the fact that no collateral is expected.

When unexpected financial needs present themselves, such as past due rent or utility expenditures, auto fixes, medical or vet costs, and so forth, individuals usually seek out payday advance loans.

Payday Advance Loan Stipulations In South Salt Lake, UT

In South Salt Lake, Utah, cash advance loan borrowers must meet several requirements to qualify for a loan.

The borrower is required to:

• Show proof that they are a resident of South Salt Lake, UT
• Must be 18 years of age
• Receive a steady stream of income that they can prove that's at least $1,000 per month
• Provide current contact information including cell phone number and email address
• Provide their SSN

If a borrower does not satisfy the above rules, they will immediately be denied a paycheck advance loan. Make sure you possess the documentation needed when requesting a loan.

Laws and Regulations Concerning Paycheck Advance Loans in South Salt Lake, UT

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

• An individual lender cannot offer a loan in excess of $600. Borrowers may not have more than two unpaid loans from different lenders. There is no minimum loan amount.
• There is no minimum loan term, the maximum loan term length is 31 days. In the State of Utah, borrowers cannot rollover their loans.
• The fees and charges change for each loan lender. The service costs enacted by lenders on a payday loan are not considered interest. The service fees apply to each $100 borrowed and can range from 11% up to 15%.
• An interest rate must be mutually decided upon. APR can be as much as 369%.

Will Cash Advance Lenders in South Salt Lake, UT, Perform Credit Checks? What If I Have Poor/No Credit History At All?

Yes, the lenders we have a relationship with will run a credit check on you, but, even if you possess no credit or less than stellar credit, you might still be approved for a loan given that you can prove that you can pay back the loan. Lenders are usually unbothered by your credit if you provide proof of income and a strategy to pay back the loan.

Lenders will rely on a soft credit inquiry, which will not impact your credit score. This is only to get a feel of your credit history and general information.

A hard credit pull, dissimilarly, must have your explicit consent. These credit checks are used for a plethora of purposes, such as mortgages, credit card applications, and more.

You can still qualify for a payday loan with poor credit in South Salt Lake, UT, as long as you have proof of repayment.

So, when you apply for a loan, albeit in person or online, make sure that you have your income information available and any other documents proving that you can repay the loan. The more proof you provide, the more likely you are to be approved.

When Will I See My Loan in South Salt Lake, UT?

When you receive your loan truly relies on the lender as some lenders advertise same-day payday loans, which means you will get your cash advance loan on the same day you apply, as long as you get an approval.

Much of the time, however, lenders will send the borrower their lump sum on the next business day. Businesses usually close for holidays and weekends. Because of this, if you apply on a Friday, you may not see your money until Monday.

If you're looking for a same-day cash advance loan in South Salt Lake, UT, you will need to be sure that you're applying by 10:30 am. Any and all same-day funds going out that day will be approved by that cut-off. However, you should apply earlier than that if possible, as it will increase the likelihood that you receive your money on the same day that you submit your application.

One additional factor that you should know is despite if the money lender approves your application and posts the loan to your bank, sometimes the bank won't release that credit right away. It's paramount that you let your bank know that you plan to get a payday loan, so they might make an exception in releasing the deposit earlier.

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

Think About Borrowing From PaydayLoanRadar

If you possess bad credit or no credit and are searching to get a paycheck advance loan, think about applying through us, as you most likely have a better chance of approval.

We partner with over one hundred different lenders who offer their services online. Most of the time you will get your cash on the next business day so ensure that you plan appropriately.

However, you can always find the closest paycheck advance loan storefront to you and apply in person to boost the chances of receiving your loan on the same business day. When applying in person, ensure that you have your government ID or driver's license; a passport will work as well. Infrequently, lenders may require proof of address, so take along a utility bill to the store too.

To locate the nearest payday advance loan storefront, please use the list below and find your city.

Payday Loan Direct Lender Companies in South Salt Lake, UT

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