Payday Loans Online Same Day in California (CA)
Do you need cash to cover urgent financial needs? Applying for a same day payday loan in California through AdvanceSOS might be the right choice for you. You can get up to $255 ahead of your next payday from trusted and licensed lenders in our network of providers. These types of loans are easy to get simply complete the application process online and get the loan you need directly to your account within one business day!
The majority of payday loan options in California offer favorable conditions and requirements that even borrowers with bad credit scores can be eligible for. This article explains the essential things you need to keep in mind if you’re looking to take out a payday loan in California.
What Are Payday Loans?
Payday loans, also known as cash advances, are short-term money loans that give customers access to quick cash to settle urgent financial needs. As the name suggests, you repay the loan with your next paycheck. The repayment duration and other terms of the loan often vary from one state to the other and the lender you’re borrowing from.
How Do Payday Loans Work?
A payday loan is a convenient innovation for customers. They are relatively easier to get because lenders don’t check your credit history to determine your eligibility. As long as you can show that you earn enough monthly income to repay the loan, you can get the money you need.
You can get up to $255 straight to your account from a payday loan provider in California. This is the maximum amount lending companies are allowed to give out according to California laws. The loan is to be repaid when you receive your next paycheck or within a maximum period of 31 days but can be repaid earlier. You can even get bad credit loans if you have poor credit ratings.
Why Use AdvanceSOS for Payday Loans in California?
AdvanceSOS is an online loan broker. We connect borrowers to payday loan providers near them through a simple, hassle-free process. By filling out an application form with your basic details and how much money you need, you will be matched with one of our licensed California payday loan providers.
Some of the benefits of applying for a loan through our platform include:
Accessing payday loans through the AdvanceSOS registration page is completely free. Loan borrowers don’t need to pay any fees to use our services.
Easy Online Application
You simply need to supply a few personal details and indicate how much you want to borrow to get matched with a lender.
No Hard Credit Check
We do not do hard credit checks on borrowers. So, you can get a loan regardless of your credit score.
High Chances of Getting a Loan
Once you fulfill the basic requirements for the type of loan you need, you are almost guaranteed to get a loan.
How to Apply For a California Payday Loan With Advance SOS?
When you need a cash advance in California, all you need to do is visit the AdvanceSOS website and fill out an application. It only takes a few minutes to get started and get approved for a loan. Here are the steps to follow to get a payday loan:
1. Fill Out an Online Form
Visit the AdvanceSOS website to fill out an online application form. You will only be required to provide your contact details and indicate the loan amount you want to get. Filing the form only takes a few minutes.
2. Get Matched to a Lender
The information you provide will be used to match you to a lender. The lender may contact you to request additional details and documents to process your loan application.
3. Loan Approval
Once your loan is approved, a copy of the loan agreement showing all the terms of the loan will be sent to you. You must review the loan terms to determine if it is suitable for you. If you agree to the terms of the loan, simply sign the contract and wait for the funds to reach your bank account.
What Are the Documents You Need for a Payday Loan Application?
To qualify for a payday loan in California, the lending company may request some of your documents. Some of the documents you need for an online payday loan application include:
- Government-issued ID, such as your driver’s license
- Proof of residence, such as your utility bill or mortgage agreement
- Bank statement or any other proof of your monthly income
- Bank account information
Can You Get Payday Loans on the Same Day in California?
Yes, once your application is approved, you will be able to get the payday loans online with the same-day deposit directly to your account. Most people get the money within a few hours or a maximum period of 24 hours. This allows you to use the loan to take care of the urgent financial situation.
Are Online Payday Loans Legal in California?
Yes, California state lending laws allow the operation of payday lenders. All lending companies offering this type of loan must be licensed by the Department of Business Oversight before they’re allowed to operate in the state. They must also operate within the restrictions of the state regulations. This helps protect consumer rights.
How Many Payday Loans Can You Have in California?
A person is only allowed to take one payday loan at a time. This must be fully repaid before you can apply for another one. You can apply for a new loan immediately after you repay the previous one, with no cool-off period. Note that loan rollovers are not allowed.
What Are the Rates and Terms for a Single Payday Advance in California?
The maximum limit for all California payday loans is $255. Payday loan providers are not allowed to charge more than this amount. Lenders can charge a maximum interest rate of $17.64 (15%) for every $100 borrowed. With a loan duration of 14 days, the annual percentage rate (APR) amounts to 460%.
How Long Do You Get To Repay a Payday Loan in California?
The minimum duration for payday loans in California is 14 days, while the maximum duration is 31 days. Your actual repayment term depends on the date you agreed to with your lender. There are no rollovers for this type of loan.
However, if you are unable to repay your loan within the period specified in the loan agreement, you may apply for an extended payment plan. If this request is approved, you get more time to repay the loan without attracting any additional fees.
What Happens if I Am Unable To Repay My Loan?
According to the California Deferred Deposit Transaction Law (CDDTL), If you’re unable to repay your loan before the due date, you may apply for a payment extension. The lender will work with you to come up with a convenient payment plan that will be suitable for you.
Payday lenders can file a lawsuit against you if you default on your loan. The statute of limitations for this is four years, meaning after the four years have passed, creditors and debt collectors can no longer sue.
Can You Get a Payday Loan With Instant Funding to a Debit Card in California?
Yes. If your loan application is approved, you can choose to get instant funding directly to your debit card account.
How Do I Repay My Loan?
You have a few options to repay payday loans in California. Usually, the method of repayment will be included in your loan agreement with the lender. The common repayment options are:
– Signing a post-dated check to be cashed from your bank on an agreed date
– Paying back in cash on the due date of the loan
– Authorizing the lender to deduct the loan amount electronically on the due date
You can repay a payday loan before the maximum loan term elapses.
Can I Get a Payday Loan in California With No Credit Check?
Yes, payday loan providers don’t need to do a hard credit check on your account before your loan is approved. How much money you can borrow depends on your income and your ability to repay the loan. This means you can get this type of loan even with bad credit history. You can seek credit counseling on how to improve your overall credit rating.
Also, AdvanceSOS offers payday loans in Texas and other states. We can find a direct lender, meaning we will service your loan from start to finish. It makes the process of getting a loan much easier and faster.
Where Can We Help You Get a Payday Loan in California?
Get a Payday Loan in California!
Amanda is a senior financial copywriter at AdvanceSOS. Amanda has been writing about finance since 2015. She graduated with a Master’s in finance from the University of Oklahoma. As a result, she has a wealth of experience and knowledge to share with her readers.