Payday Loans in Lakewood, Washington
Events happen, and we often wind up in a place where we have to pay for some surprise expenses. Think about applying for a payday loan in Lakewood, WA, to see if you meet the requirements.
The application process is fast and painless. To qualify, borrowers have to satisfy a few basic requirements.
What is a Cash Advance Loan? What Can It Be Used For?
A payday advance loan is where the borrower will get a small sum of funds on a short-term contract. This is considered an unsecured personal loan as no collateral is expected.
When unforeseen costs arise, such as missed rent or utility fees, car bills, health or vet expenditures, and so on, individuals often rely upon payday loans.
Cash Advance Loan Criteria In Lakewood, Washington
In Lakewood, Washington, payday advance loan borrowers are required to meet several stipulations to qualify for a loan.
The borrower must:
- Show proof that they are a resident of Lakewood, Washington
- Must be 18 years old
- Have an income that they can prove that's at least $1,000 per month
- Give active contact information including phone number and email address
- Give their social security number
If a borrower does not meet the above requirements, they will immediately be denied a payday advance loan. Ensure that you can provide the documentation needed when applying.
Laws and Regulations Regarding Payday Advance Loans in Lakewood, Washington
Washington has ruled cash advance lending legal. Although, they have enacted the below rules and laws for the payday lending market:
- A single lender can't offer a loan for more than $600. Borrowers are not allowed to take out 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 Washington, borrowers are unable to rollover their loans.
- The fees and charges are different for each lender. The service fees enacted by lenders on a cash advance loan do not fall under interest. The service fees apply to each $100 borrowed and can vary from 11% up to 15%.
- An interest rate must be mutually settled upon. APR can range up to 369%.
Will Payday Lenders in Lakewood, WA, Perform Credit Checks? What If I Have Bad/No Credit History At All?
Yes, the lenders we have a relationship with will do a credit check on you, still, even if you have no credit or bad credit, you may still be approved for a loan given that you can show that you are able to pay back the loan. Lenders are commonly unbothered by your credit history if you offer proof of income and a plan to pay back the loan.
Lenders will perform a soft credit check, which will not impact your credit score. This is simply to get an idea of your credit history and general information.
A hard credit inquiry, dissimilarly, requires your permission. These credit pulls are utilized for various purposes, including mortgages, credit card applications, and more.
You might still qualify for a cash advance loan with poor credit in Lakewood, Washington, if you have proof of repayment.
So, when you apply, whether it is in person or online, double check that you have your income information easily accessible and any other documents showing that you can pay back the loan. The more evidence you possess, the better chance you are to be approved.
When Will I Get My Deposit in Lakewood, Washington?
When you get your cash really relies on your lender as some lenders offer same-day paycheck advance loans, which means you will see your payday loan on the same day you submit your application, as long as you receive an approval.
Much of the time, however, lenders will send the borrower their lump sum on the following business day. Businesses often close for holidays and weekends. Therefore, if you apply on a Friday, you might not receive your cash until Monday.
If you're searching for a same-day paycheck advance loan in Lakewood, Washington, you will need to make sure you're applying by 10:30 am. Any and all same-day funds going out that day will be approved by that time. However, you should apply earlier than that if possible, as it will boost the likelihood that you see your cash on the same day that you submit your application.
One additional factor that you should be aware of is despite if the money lender grants your loan request and posts the loan to your bank, occasionally the bank won't release that deposit at that time. It's important to let your bank know that you plan to receive a cash advance loan, so they could possibly make an exception in releasing the cash earlier.
On the whole, it's wise to prepare in advance to get cash on the following business day. That way, you're not left in the lurch if you cannot get it on the same day.
Consider Borrowing From PaydayLoanRadar
If you possess poor credit or no credit and are searching to get a payday loan, consider applying through us, as you usually have a higher chance of approval.
We partner with hundreds of different lenders who provide their services online. Most of the time you will see your loan on the following business day so make sure that you plan correctly.
Although, you can always locate the closest payday loan storefront to you and apply in person to increase the chances of seeing 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 request proof of address, so bring a utility bill to the store as well.
To locate the nearest payday advance loan store, please navigate to the list below and locate your city.
Payday Loan Direct Lender Companies in Lakewood, WA
Below you will find a list of payday loan companies offering their services in Lakewood, Washington. If you can't find a lender near your location in Lakewood, 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 Lakewood, 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.