Payday Loans in Kent, Washington
Events happen, and we often wind up in a situation where we have to cover some unforeseen expenses. Think about submitting an application for a payday loan in Kent, Washington, to see if you qualify.
The loan application process is swift and simple. To be eligible, loan borrowers must satisfy a couple of general criteria.
What is a Payday Advance Loan? What Can It Pay For?
A cash advance loan is where the borrower will receive a petite sum of funds on a short-term agreement. This is thought of as an unsecured personal loan because no collateral is expected.
When surprise bills arise, like missed rent or utility fees, auto costs, medical or vet fees, and so on, individuals usually turn to payday advance loans.
Payday Advance Loan Criteria In Kent, WA
In Kent, Washington, paycheck advance loan borrowers must meet a few criteria to qualify for a loan.
The borrower has to:
- Show proof that they live in Kent, Washington
- Must be 18 or older
- Have an income that they can provide proof of being at least $1,000/month
- Provide current contact information such as cell phone number and email address
- Provide their social security number
If a borrower does not meet the above rules, they will immediately be denied a payday loan. Make sure you have the documentation required when submitting your application.
Laws and Rules Concerning Payday Loans in Kent, WA
The State of Washington has deemed cash advance lending legal. Although, they have enacted the below rules and laws for the paycheck advance lending market:
- A single lender cannot offer a loan in excess of $600. Borrowers are not allowed to possess greater than two outstanding loans from different lenders. There is no minimum loan amount.
- The minimum loan term is not set, the longest loan term length is 31 days. In the State of Washington, borrowers are unable to rollover their loans.
- The fees and charges are different for each money lender. The service costs charged by the lender on a loan do not fall under interest. The service fees apply to every $100 loaned and can vary between 11-15%.
- An interest rate must be mutually decided upon. APR can be as much as 369%.
Will Paycheck Advance Lenders in Kent, Washington, 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, still, even if you possess no credit or less than optimal credit, you may still be approved for a loan provided you can show that you can pay back the loan. Lenders are usually unconcerned about your credit history if you possess proof of income and a strategy to repay the loan.
Lenders will rely on a soft credit pull, which will have no impact on your credit score. This is simply to get a feel of your credit history and basic information.
A hard credit inquiry, dissimilarly, must have your explicit consent. These credit checks are performed for various purposes, such as mortgages, credit card applications, and more.
You can still qualify for a payday advance loan with less than great credit in Kent, Washington, as long as you have proof of repayment.
Therefore, when you apply, whether it is in person or online, make sure that you have your income information ready and any other documents proving that you can pay back the loan. The more evidence you have, the more likely you are to be approved.
When Will I See My Loan in Kent, Washington?
When you get your loan truly relies on your lender as some lenders offer same-day payday loans, which means you will receive your payday 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 often close for holidays and weekends. So, if you apply on a Friday, you might not receive your money until Monday.
If you're looking for a same-day cash advance loan in Kent, WA, you will need to be sure that you're applying by 10:30 am. All same-day loans going out that day will be approved by that cut-off. However, you should submit an application earlier than that if possible, as it will boost the likelihood that you get your cash on the same day that you apply.
One additional consideration that you should understand is even if the money lender approves your application and posts the loan to your bank, occasionally the bank won't release that funds 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 money earlier.
Overall, it's wise to prepare ahead of time to receive your funds on the next business day. That way, you're not out of luck if you cannot get it on the same day.
Consider Borrowing From Us
If you have poor credit or no credit and are looking to secure a payday loan, consider applying through us, as you frequently have a better chance of approval.
We partner with over one hundred different lenders who provide their services online. Frequently you will get your funds on the following business day so make sure that you plan appropriately.
However, you can always locate the nearest paycheck advance loan storefront to you and apply in person to boost the chances of getting your money on the same business day. When submitting an application in person, make sure that you have your government ID or driver's license; a passport is sufficient. Sometimes, lenders may require proof of address, so bring a utility bill to the store as well.
To find the nearest paycheck advance loan storefront, please navigate to the list below and find your city.
Payday Loan Direct Lender Companies in Kent, WA
Below you will find a list of payday loan companies offering their services in Kent, Washington. If you can't find a lender near your location in Kent, consider applying in a nearby city in Washington. Alternatively, you can apply online on our website and get a decision almost instantly.
If you can't find a lender near your location in Kent, consider checking out payday loan lenders in nearby cities. Alternatively, apply online on our website and get an instant decision. If approved, you will get your cash the same or next business day.