Online Payday Loans in Washington
We've all been there a couple of times, where some unexpected expense arises be it vet expenses, utility shutoff notices, or maybe a bill that we missed. In these moments, you should apply for a payday advance loan in Washington.
The process of applying for a payday advance loan is fast and effortless. Nevertheless, you do need to meet certain guidelines to ensure you're approved.
What Specifically is a Payday Loan And Why Is It Necessary?
A payday advance loan is when an individual borrows a small amount of cash on a short-term basis that they're contracted to pay back with their next paycheck. This type of loan doesn't require collateral, which is why it's thought of as an unsecured personal loan.
Getting a payday loan will help pay for unexpected expenses that come around like auto fees, medical fees, eviction notices, unpaid utility bills, and much more.
What Are The Criteria For Payday Advance Loans in the State of Washington?
To be granted a payday loan in Washington there are a few standards the borrower must satisfy in order to qualify, like:
- Be 18+ years of age
- Be able to submit a social security number
- Provide proof of being a resident of Washington
- Submit proof of a stable income of at least $1,000 per month
- Provide an email address and phone number
- You may not be bankrupt or in debt
The inability to meet the criteria above will lead to an automatic denial of your loan request. Always ensure that you have the necessary documents on hand when requesting a loan.
Payday Advance Loan Rules and Laws in Washington
Along with payday advance loans come certain rules and laws dependent on the city. We've outlined a couple of these, relevant to the state of Washington:
- The maximum loan amount is $500 for a single payment back and $1,000 for multiple repayments
- APR is 304%
- The state of Washington does not allow rollovers therefore the loans must be repaid within the agreed upon time frame
There are distinct time frames for one-time payment loans and multiple installment loans.
- The borrower has 7 days to pay back a single-payment loan
- For multiple installment loans, the borrower has 60 days to post payment
- The borrower will receive no longer than 31 days to complete payment on a single-payment loan
- 90 days will be allotted to the borrower for repayment on a multiple installment loan
Do Payday Advance Loan Lenders Check Credit?
Lenders will complete a credit check, but it's not the usual credit check you may be thinking of. They will perform what's called a soft credit check which looks into your basic information along with your entire credit history.
The soft credit inquiry will not impact your credit, while alternatively, a hard credit check will. However, this must have your permission and is usually only used for rental applications, credit cards, auto loans, and more.
Can I Get a Cash Advance Loan with Less Than Perfect Credit in Washington?
If you're hesitant due to the fact that you have lackluster credit; don't be! You can still be approved for a cash advance loan with dismal credit or no credit, in Washington. As long as you have proof that you can repay the loan, lenders commonly aren't preoccupied with your credit rating.
Irregardless of if you request a loan online or at a payday advance lender store near you, always have your proof of steady income along with other documents showing that you're able to repay the loan. With additional evidence, you increase the chances of approval.
When Will The Money Appear In My Account?
Generally, most borrowers should expect that their cash will appear in their checking account the next business day. Although, this relies upon a couple of things such as:
- When you apply
- Who your bank is
If you apply prior to 10:30 AM when you are trying for a same-day cash advance loan in Washington, it will strengthen the likelihood that you get your funds on the same day you apply. Obviously, only if you're approved.
Keep in mind that banks, as well as a great deal of other businesses, close over the weekends, and on holidays. Therefore, if you apply the day before a holiday, or before the weekend, there's the likelihood that your deposit will be delayed.
Who Do You Do Your Banking With?
Another thing you'll want to be mindful of is who you do your banking with. Financial institutions have their own protocols concerning releasing funds. Some may be fine releasing them the same day while others will have a 3 to 5 day holding period.
What you can do is inform your banker that you are requesting a payday loan so that they may be able to make an exception on when to approve the funds to your bank account. If they won't offer an exception, you can ask them what their policy consists of so that you know for the future.
Cash Advance Application Process In the State of Washington
The payday loan application process in Washington is straightforward. It doesn't rely upon if you have no credit or even bad credit, you can still get approval. You don't need to venture out if you want to apply through us online. Alternatively, you can find your closest lender's storefront.
Either way, whatever you decide, all you need is your basic information such as your email address, phone number, social security number, etc.
Should you want to visit your nearest lender at their storefront, make sure you have your government ID or passport to verify your identity. They might also require proof of address to show you live in Washington, as well as verification of income.
Think About Working With Us
We are an online service that provides cash advance loan applications online in Washington. We are working closely with hundreds of direct lenders who also provide services online. Plan to receive your payday loan by the next business day.
If you would rather, you can always search for the closest payday loan storefront and apply in person. This might boost the chances that you receive your funds on the same business day as long as you apply prior to 10:30 AM.
To locate a payday advance loan storefront near you, search for your city on the list below:
If you need cash as soon as possible, consider applying in person instead of online. If approved, you will get your money almost immediately. Please find the list of cities in California to find the nearest payday loan storefront.