Payday Loans in Tacoma, Washington
Incidents happen, and we usually find ourselves in a spot where we must cover some surprise costs. Consider submitting an application for a payday loan in Tacoma, WA, to see if you are eligible.
The loan process is quick and painless. To be eligible, loan borrowers have to satisfy a few basic requirements.
What is a Paycheck Advance Loan? What Can It Be Used For?
A cash advance loan is where the borrower will get a small sum of cash on a short-term agreement. This is considered an unsecured loan because no collateral is required.
When surprise bills arise, like missed rent or utility expenditures, vehicle fees, medical or vet fees, and so forth, individuals frequently rely upon payday loans.
Payday Loan Requirements In Tacoma, WA
In Tacoma, Washington, cash advance loan borrowers need to meet a few stipulations to qualify for a loan.
The borrower must:
- Provide proof that they are a resident of Tacoma, WA
- Must be at least 18
- Have a steady stream of income that they can provide proof of being at least $1,000/month
- Give current contact details including cell phone number and email address
- Give their social security number
If a borrower does not abide by the above criteria, they will immediately be denied a payday loan. Make sure you can provide the documents needed when applying for a loan.
Laws and Rules Regarding Payday Loans in Tacoma, WA
Washington has ruled cash advance lending legal. Still, they have created the below rules and laws for the payday lending industry:
- An individual lender cannot offer a loan greater than $600. Borrowers cannot have greater than two outstanding loans from different lenders. There is no smallest loan amount.
- The minimum loan term is not determined, the maximum loan term length is 31 days. In Washington, borrowers cannot rollover their loans.
- The fees and charges vary for each lender. The service fees charged by lenders on each loan or transaction are not considered interest. The service fees apply to every $100 loaned and can vary from 11% up to 15%.
- An interest rate must be mutually settled upon. APR can be as high as 369%.
Will Paycheck Advance Lenders in Tacoma, WA, Complete Credit Checks? What If I Have Bad/No Credit History At All?
Yes, the lenders we partner with will complete a credit check on you, still, even if you possess no credit or poor credit, you might still be approved for a loan as long as you can show that you can repay the loan. Lenders are typically unbothered by your credit history if you possess proof of income and a plan to repay the loan.
Lenders will use a soft credit check, which will have no impact on your credit score. This is solely to get a feel of your credit history and general information.
A hard credit inquiry, dissimilarly, requires your explicit consent. These credit pulls are utilized for a plethora of purposes, including mortgages, credit card applications, and more.
You may still be approved for a cash advance loan with poor credit in Tacoma, Washington, provided that you have proof of repayment.
Therefore, when you request a loan, albeit in person or online, double check that you have your income information at hand and any other documents proving that you can repay the loan. The more evidence you provide, the better chance you are to be approved.
When Will I Get My Cash in Tacoma, WA?
When you see your money really relies on the lender as some lenders advertise same-day payday advance loans, which means you will get your payday loan on the same day you apply, as long as you get an approval.
Much of the time, however, lenders will give the borrower their lump sum on the following business day. Businesses generally close for holidays and weekends. Therefore, if you apply on a Friday, you may not see your deposit until Monday.
If you're searching for a same-day cash advance loan in Tacoma, WA, you will need to make sure you're applying by 10:30 am. Any and all same-day deposits 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 receive your deposit on the same day that you apply.
One additional factor that you should know is despite if the lender approves your application and posts the loan to your bank account, sometimes the bank won't release that deposit at that time. It's paramount that you let your bank know that you plan to receive a paycheck advance loan, so they might make an exception in releasing the deposit earlier.
On the whole, it's wise to prepare ahead of time to get cash on the next business day. That way, you're not surprised if you cannot get it on the same day.
Think About Working With PaydayLoanRadar
If you possess bad credit or no credit and are searching to secure a payday loan, consider applying with us, as you probably have a higher chance of approval.
We work with more than one hundred different lenders who provide their services online. Much of the time you will get your funds on the following business day so ensure that you plan correctly.
However, you can always locate the nearest payday advance loan store to you and apply in person to increase the chances of getting your funds on the same day. When applying in person, ensure that you have your government ID or driver's license; a passport is sufficient. Sometimes, lenders may ask for proof of address, so bring a utility bill to the store too.
To locate the nearest payday loan store, please use the list below and find your city.
Payday Loan Direct Lender Companies in Tacoma, WA
Below you will find a list of payday loan companies offering their services in Tacoma, Washington. If you can't find a lender near your location in Tacoma, 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 Tacoma, 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.