Payday Loans in Seattle, Washington
Things happen, and we often wind up in a place where we must cover some unexpected bills. Consider submitting an application for a cash advance loan in Seattle, WA, to see if you are eligible.
The loan application process is swift and straightforward. To be eligible, loan borrowers must satisfy a few general criteria.
What is a Cash Advance Loan? What Can It Pay For?
A payday loan is where the borrower will be extended a small sum of cash on a short-term basis. This is thought of as an unsecured personal loan as no collateral is expected.
When unexpected costs arise, like missed rent or utility bills, car fixes, health or vet costs, and so on, individuals often rely upon paycheck advance loans.
Payday Advance Loan Criteria In Seattle, WA
In Seattle, WA, payday loan borrowers must meet several requirements to qualify for a loan.
The borrower is required to:
- Provide proof that they are a resident of Seattle, Washington
- Must be 18 or older
- Receive a steady stream of income that they can provide proof of being at least $1,000/month
- Provide current contact information including cell phone number and email address
- Give their social security number
If a borrower does not satisfy the above criteria, they will automatically be denied a cash advance loan. Ensure that you can provide the documents required when submitting your application.
Laws and Regulations Regarding Payday Advance Loans in Seattle, WA
The State of Washington has deemed payday lending legal. Although, they have put forth the following rules and laws for the payday advance lending market:
- A single money lender can't extend a loan for more than $600. Borrowers may not take out more than two outstanding loans from different lenders. There is no minimum loan amount.
- The minimum loan term is not determined, the longest loan term length is 31 days. In Washington, borrowers are unable to rollover their loans.
- The fees and charges are different for each money lender. The service fees enacted by the lender on a cash advance loan do not fall under interest. The service fees apply to each $100 loaned and can vary between 11-15%.
- An interest rate is required to be mutually settled upon. APR can be as much as 369%.
Will Cash Advance Lenders in Seattle, WA, 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 possess no credit or dismal credit, you may still be approved for a loan provided you can prove that you can pay back the loan. Lenders are commonly unconcerned about your credit if you have proof of income and a strategy to pay back the loan.
Lenders will perform a soft credit pull, which will have no impact on your credit score. This is only to get a feel of your credit history and general information.
A hard credit check, on the other hand, must have your permission. These credit checks are used for a plethora of purposes, such as mortgages, credit card applications, and more.
You may still be approved for a payday advance loan with less than great credit in Seattle, WA, provided that you have proof of repayment.
So, when you apply for a loan, albeit in person or online, ensure that you have your income information easily accessible and any other documents showing that you can pay back the loan. The more evidence you show, the more likely you are to be approved.
When Will I Receive My Money in Seattle, Washington?
When you receive your cash really depends on your lender as some lenders offer same-day paycheck advance loans, which means you will see your payday advance loan on the same day you apply, as long as you're approved.
Much of the time, however, lenders will give the borrower their lump sum on the next business day. Businesses often close for holidays and weekends. So, if you apply on a Friday, you might not see your cash until Monday.
If you're looking for a same-day paycheck advance loan in Seattle, Washington, you will need to be sure that you're applying by 10:30 am. Any and all same-day loans going out that day will be approved by that deadline. However, you should request a loan earlier than that if able, as it will increase the likelihood that you receive your money on the same day that you submit your application.
One other factor that you should understand is despite if the lender grants your loan request and posts the funds to your checking account, occasionally the bank won't release that loan at that time. It's important to let your bank know that you plan to receive a payday loan, so they could possibly make an exception in releasing the money earlier.
On the whole, it's best to prepare ahead of time to receive cash on the next business day. That way, you're not surprised if you cannot get it on the same day.
Consider Working With PaydayLoanRadar
If you possess less than great credit or no credit and are needing to get a paycheck advance loan, consider applying with us, as you usually have a better chance of approval.
We work with more than one hundred different lenders who offer their services online. Often you will receive your funds on the next business day so ensure that you plan correctly.
Although, you can always find the closest payday loan storefront to you and apply in person to strengthen the chances of receiving your cash on the same business day. When submitting an application in person, ensure that you have your government ID or driver's license; a passport is sufficient. Occasionally, lenders may require proof of address, so take along a utility bill to the store as well.
To locate the nearest paycheck advance loan storefront, please refer to the list below and find your city.
Payday Loan Direct Lender Companies in Seattle, WA
Below you will find a list of payday loan companies offering their services in Seattle, Washington. If you can't find a lender near your location in Seattle, 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 Seattle, 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.