Payday Loans in Cottage Grove, Wisconsin

Life happens, and we usually wind up in a spot where we have to pay for some surprise costs. Consider submitting an application for a payday advance loan in Cottage Grove, Wisconsin, to see if you qualify.

The loan process is swift and effortless. To qualify, loan borrowers must meet a few basic criteria.

What is a Payday Loan? What Can It Be Put Towards?

A paycheck advance loan is where the borrower will be extended a small amount of money on a short-term agreement. This is considered an unsecured loan because no collateral is expected.

When surprise bills arise, like past due rent or utility bills, car costs, health or vet payments, and so forth, people usually turn to paycheck advance loans.

Cash Advance Loan Criteria In Cottage Grove, Wisconsin

In Cottage Grove, Wisconsin, payday advance loan borrowers are required to satisfy several stipulations to qualify for a loan.

The borrower is required to:

• Prove that they reside in Cottage Grove, WI
• Must be 18 years old
• Receive a steady stream of income that they can provide proof of being at least $1,000/month
• Provide active contact information including cell phone number and email address
• Give their social security number

If a borrower does not satisfy the above requirements, they will immediately be denied a payday loan. Make sure you have the documents needed when applying for a loan.

Laws and Rules Regarding Paycheck Advance Loans in Cottage Grove, WI

The State of Wisconsin has ruled paycheck advance lending legal. However, they have put forth the below rules and laws for the paycheck advance lending industry:

• A single money lender cannot extend a loan for more than $600. Borrowers are not allowed to have more than two unpaid loans from different lenders. There is no smallest loan amount.
• There is no minimum loan term, the longest loan term length is 31 days. In Wisconsin, borrowers may not rollover their loans.
• The fees and charges vary for each lender. The service fees enacted by lenders on each loan or transaction are not considered interest. The service fees apply to each $100 borrowed and can vary between 11-15%.
• An interest rate is required to be mutually agreed upon. APR can range up to 369%.

Will Cash Advance Lenders in Cottage Grove, WI, Complete 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, but, even if you possess no credit or dismal credit, you may still be approved for a loan provided you can prove that you are able to repay the loan. Lenders are generally unbothered by your credit if you have proof of income and a strategy to pay back the loan.

Lenders will use 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 general information.

A hard credit inquiry, alternatively, requires your permission. These credit inquiries are used for a plethora of purposes, including mortgages, credit card applications, and more.

You can still qualify for a cash advance loan with less than great credit in Cottage Grove, Wisconsin, provided that you can prove you will repay the loan.

Therefore, when you apply for a loan, whether it is in person or online, make sure that you have your income information available and any other documents verifying that you can repay the loan. The more proof you show, the better chance you are to be approved.

When Will I Receive My Money in Cottage Grove, WI?

When you see your cash truly relies on the lender as some lenders advertise same-day payday loans, which means you will see your cash advance loan on the same day you apply, as long as you receive an approval.

Most of the time, though, lenders will send the borrower their lump sum on the following business day. Businesses usually close for holidays and weekends. Because of this, if you apply on a Friday, you may not receive your loan until Monday.

If you're needing a same-day payday loan in Cottage Grove, WI, you will need to make sure you're applying by 10:30 am. All same-day loans going out that day will be approved by that deadline. However, you should apply earlier than that if able, as it will increase the likelihood that you receive your loan on the day that you submit your application.

One other consideration that you should know is despite if the money lender approves your application and posts the credit to your checking account, sometimes the bank won't release that credit at that time. It's important to let your bank know that you plan to get a cash advance loan, so they might make an exception in releasing the loan earlier.

Overall, it's best to prepare in advance to get cash on the next business day. That way, you're not out of luck if you cannot get it on the same day.

Think About Working With Us

If you possess underwhelming credit or no credit and are searching to get a paycheck advance loan, think about applying with us, as you most likely have a better chance of approval.

We partner with more than one hundred different lenders who offer their services online. Most of the time you will see your loan on the following business day so make sure that you plan correctly.

However, you can always locate the nearest payday advance loan store to you and apply in person to strengthen the chances of receiving your loan on the same business day. When requesting a loan 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 take along a utility bill to the store too.

To locate the nearest payday advance loan storefront, please navigate to the list below and search for your city.

Payday Loan Direct Lender Companies in Cottage Grove, WI

Below you will find a list of payday loan companies offering their services in Cottage Grove, Wisconsin. If you can't find a lender near your location in Cottage Grove, consider applying in a nearby city in Wisconsin. Alternatively, you can apply online on our website and get a decision almost instantly.