Payday Loans in Yakima, Washington
Events happen, and we often end up in a place where we must pay for some unexpected expenses. Think about applying for a cash advance loan in Yakima, Washington, to see if you meet the requirements.
The loan process is fast and simple. To qualify, borrowers must satisfy a few straightforward requirements.
What is a Paycheck Advance Loan? What Can It Cover?
A payday advance loan is where the borrower will receive a petite amount of funds on a short-term basis. This is thought of as an unsecured personal loan because no collateral is required.
When unforeseen costs arise, for example missed rent or utility costs, car fixes, health or vet fees, and so on, individuals usually rely upon payday loans.
Payday Loan Criteria In Yakima, WA
In Yakima, WA, paycheck advance loan borrowers are required to meet a few stipulations to be eligible for a loan.
The borrower is required to:
- Provide proof that they live in Yakima, WA
- Must be 18 years of age
- Receive an income that they can prove that's at least $1,000 per month
- Give current contact details including 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 possess the documentation needed when submitting your application.
Laws and Rules Regarding Payday Loans in Yakima, WA
The State of Washington has deemed paycheck advance lending legal. Still, they have put forth the following rules and laws for the payday lending industry:
- An individual lender can't extend a loan greater than $600. Borrowers are not allowed to take out more than two active loans from different lenders. There is no smallest loan amount.
- The minimum loan term is not determined, the longest loan term length is 31 days. In the State of Washington, borrowers cannot rollover their loans.
- The fees and charges vary for each loan lender. The service fees charged by the lender on each loan or transaction are not considered interest. The service fees apply to each $100 loaned and can range between 11-15%.
- An interest rate must be mutually agreed upon. APR can be as high as 369%.
Will Payday Advance Lenders in Yakima, Washington, Run Credit Checks? What If I Have Bad/No Credit History At All?
Yes, the lenders we work with will run a credit check on you, still, even if you possess no credit or poor credit, you might still be eligible for a loan provided you can prove that you are able to repay the loan. Lenders are typically unbothered by your credit if you possess proof of income and a plan to pay back the loan.
Lenders will conduct a soft credit check, which will have no impact on your credit score. This is simply to get a look at your credit history and general information.
A hard credit check, on the other hand, must have your explicit consent. These credit pulls are done for various purposes, such as mortgages, credit card applications, and more.
You may still qualify for a payday loan with bad credit in Yakima, WA, provided that you have proof of repayment.
So, when you apply for a loan, whether it is in person or online, ensure that you have your income information at hand and any other documents showing that you can pay back the loan. The more evidence you provide, the better chance you are to be approved.
When Will I Get My Loan in Yakima, WA?
When you see your loan really depends on your lender as some lenders offer same-day payday loans, which means you will get your paycheck advance loan on the same day you request a loan, as long as you receive an approval.
Most of the time, though, 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 receive your deposit until Monday.
If you're needing a same-day cash advance loan in Yakima, WA, you will need to ensure you're applying by 10:30 am. Any and all same-day funds going out that day will be approved by that cut-off. However, you should request a loan earlier than that if possible, as it will boost the likelihood that you get your funds on the same day that you apply.
One additional factor that you should understand is even if the lender grants your loan request and posts the credit to your checking account, sometimes the bank won't release that loan at that time. It's vital that you let your bank know that you plan to get a cash advance loan, so they might make an exception in releasing the loan earlier.
On the whole, it's wise to prepare in advance to get money on the following business day. That way, you're not out of luck if you cannot get it on the same day.
Consider Working With Us
If you possess poor credit or no credit and are needing to get a payday loan, consider applying with us, as you frequently have a better chance of approval.
We work with more than one hundred different lenders who offer their services online. Frequently you will receive your money on the following business day so ensure that you plan appropriately.
However, you can always locate the closest payday loan store to you and apply in person to strengthen the chances of getting your money on the same business day. When applying in person, make sure that you have your government ID or driver's license; a passport will work as well. Sometimes, lenders may request proof of address, so bring a utility bill to the store as well.
To find the nearest payday advance loan storefront, please navigate to the list below and locate your city.
Payday Loan Direct Lender Companies in Yakima, WA
Below you will find a list of payday loan companies offering their services in Yakima, Washington. If you can't find a lender near your location in Yakima, 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 Yakima, 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.