When it becomes necessary to resolve a financial issue quickly, you can contact trustworthy loan provider and apply for a short-term loan. It is just necessary to follow simple steps to get the personal loan. This will minimize the refusal probability and borrow the necessary amount on attractive conditions by the next business day. Cash advance funds can be spent for any purpose without agreement with the creditor.
The online loan products are distinguished by their availability to California residents. Cash is provided in small payday advance amounts with interest, calculated for each day of use of the funds. Online loans are provided without collateral, guarantors, and income certificates which can be applied using the online application. You can apply online for a payday advance loan at any time.
Payday loans in California have some features. The maximum amount allowed by law for a personal loan is $300. The fee usually does not exceed 15% or $45 of the total online loan amount. However, for a cash advance, the average annual interest rate is 372%. Read on and learn more about the specifics of getting a loan.
Payday Loans in California: Best Online Payday Lenders
Payday loan services are licensed by the California Department of Financial Protection and Innovation (DFPI). Not licensed lender may be scammers. Therefore, it is recommended to approach the choice of an online loan lender responsibly.
We’ve studied reviews of loan providers in California and compiled a list of the best ones. Carefully study the characteristics of each online application and choose the company that suits you the most.
Cashback Loans is a direct lender that offers its services in California. State residents who have reached the age of 18 can receive borrowed money for any needs. To become a client of the company, you should visit the site and fill out an application, following the instructions. It is important to provide truthful data to get approval.
The reason for refusal may be an incorrectly completed application, a damaged credit history, or an untimely repaid previous debt.
The maximum California payday loan offered by Cashback Loans is $300. This amount is allowed by state law. Annual percentage rate is 460%. Fee: $15. Repayment period: 1-31 days.
Cashback Loans do not set requirements for the borrower’s credit score. However, applicants must have a valid bank card, a regular source of income, and a government-issued photo ID. In addition, it is necessary to provide a valid email address and phone number.
The advantages are a high percentage of approvals and the issuance of money on the day of application. The disadvantages are the small available amounts and high-interest rates. However, the company is trustworthy, and you can apply for services without worrying about any risks.
DollarHand is another lender you can contact for a California payday loan. It allows you to borrow from $100 to $550 for up to 31 days. APR depends on the borrower’s credit score, ranging from 36%-600%.
The fee is 15% of the borrowed amount. In comparison with other payday lenders, DollarHand cooperates with those whose credit score is 300-850. Other essential requirements for applicants are:
- Age 18+;
- Residence in the US state of California;
- Having an active bank account;
- Having a social security number.
The advantage of DollarHand is that it has gained clients’ trust very quickly (founded in 2018). In addition, the service has a simple and intuitive interface. So, there are no difficulties with placing applications.
Compared to many other payday lenders, the disadvantage of DollarHand is that it does not have a mobile application that would make the process of applying for and obtaining California payday loan services faster and more convenient.
SpeedyCash is ready to help if you need 200 now, an installment loan, or other financial assistance. The company has approximately 200 stores throughout the US, including California. It is part of the Payday Lenders Alliance, which ensures that members treat clients fairly and follow a code of conduct.
The application procedure is simple and convenient. It takes approximately 15 minutes. Cash can be received by applicants who are at least 18 years of age, have a valid ID, and have provided proof of regular income. In addition, the client must have a credit score of 670 or higher, a valid bank card, and a working phone.
The available amount of borrowed money is $255. Terms are usually 2 weeks-1 month. APR is 460.16% for a 14-day term and 214.74% for a 30-day term. There is also a 10% fee.
The main advantage of the company is the presence of a mobile application. The downside is high-interest rates. However, the company’s services are popular as it ensures fast application processing and same-day funding.
Green Day Online
This is another lending platform that works exclusively online. It does not have offline points at all. The company provides financial assistance to applicants quickly and promptly.
The client can apply for a loan anywhere and anytime. It is enough just to have a computer, access to the Internet, and an active bank card. It is also important to be of legal age and provide an active residence address in California.
Like other reliable payday lenders, Green Day does not violate local laws and offers loans up to $255. Term – up to 31 days. APRs reach 474.51%. The company does not conduct rigorous credit checks. However, the required credit score is 580.
The advantage of Green Day is in the individual attitude towards applicants. Representatives of the company carefully study each application of clients and, in most cases, give approval. The downside is that APRs are high. However, there are payday lenders offering even higher rates. Therefore, Green Day is a great place to borrow money to cover emergency expenses.
Cash In A Moment
This lender is also well known in California. It provides its California payday loan services online while operating legally and fully complying with state laws. Thus, the maximum available California payday loan amount is $300. Repayment period – no more than 31 days.
California payday loan fee is 15%. Average APRs are 460.16%. The required credit score is 580. However, applicants with lower credit scores often apply and receive approval.
The company’s main advantages are:
- Does not conduct serious credit checks;
- Fully complies with state laws regarding lending;
- Provides fast financing.
Disadvantages of Cash In A Moment:
- High-interest APRs;
- No grace period.
In general, Cash In A Moment is a good company for getting a California payday loan. When choosing this state-licensed direct lender over others, remember that it is important to be at least 18 years of age and provide a social security number.
Cash Depot allows a customer to borrow from $50 to $255. The minimum California payday loan term is 4 days. The California payday loan term is 31 days. Fees are significantly lower than those of competitors and amount to 3%-5%. Average APRs – 443.21%.
Requirements for borrowers are standard. You must be 18 years of age, live in California, have a stable source of income, and have a valid bank card. You also need to provide a valid email address, phone number, and social security number.
The advantage of the company is its low APR and fee. The disadvantage is that applications are not always processed quickly. Sometimes it takes 2 business days to get a response from a company representative.
What Is A Payday Loan?
A payday loan is one of the most popular financial services among the population today. This is a small-dollar loans for a short term, usually up to 1 month. The main advantage of such lending is simple conditions and instant transfer of the requested amount of funds.
Loan services can be used to purchase various household appliances, electrical appliances, furniture sets, cosmetic repairs, urgent treatment, vacation, or small household needs (pay off a debt, pay a fine, pay for education, etc.).
What Are the Terms Of Payday Loans in California?
Each lender in California sets its own terms. However, they do not exceed 31 days. This requirement is stated in the law and is observed by all legal payday lenders. If you find companies offering a repayment period of more than 31 days, then be aware that this violates the law, and such payday lenders may be fraudulent.
How Much Can I Borrow In California With Payday Loan?
The maximum amount of online payday loan California allowed by law is $300. That is, you can borrow any amount that does not exceed $300. The fee is 15% or $45 of the total amount. APRs vary from lender to lender. The average annual interest rate is 372%.
What Do I Need to Apply For Payday Loans in California?
To get money from payday provider in California, you need to meet their requirements. Typically, these are age 18+, California residency, a valid bank card, social security number, and proof of a regular source of income.
When filling out the application form, it is essential to enter true contacts (phone number, e-mail address, etc.) so that the lender has the opportunity to contact you directly to discuss cash loan conditions.
How To Get Payday Loans in California?
To get a loan from one of the reliable payday lenders, you will need a computer, tablet, or smartphone with Internet access. You just need to visit the website of a reliable lender and go through a simple application procedure:
- Choice of loan amount and term. The maximum allowable loan in California is $300. Remember this when cooperating with payday lenders. You can use online calculator to calculate the amount and term of the payday loan you need. The system will automatically display the final amount of money you need to return;
- Creation of a personal account on the website of a credit company. Registration does not take much time. However, it provides access to a wide range of services. During registration, you must enter your email address, phone number, and other information requested by the lender;
- Entering information about a bank card. To get a direct loan on a card, you need to enter its details. It is also recommended to pass verification to confirm that the card is yours;
- Signing an agreement. Like all other procedures, the signing of the agreement is carried out online. You just need to click the “I accept the conditions” button. Before signing the agreement, it is strongly recommended to learn its requirements to receive the most beneficial services as a result;
- Receiving the money. After successfully completing the above steps and receiving almost instant approval, you will receive the required amount within 1-2 business days.
The procedure for getting a loan varies slightly from website to website. But in general, there is nothing complicated, and anyone who meets the conditions of payday lenders can get money.
Can I Get Online Payday Loan With No Credit Check In California?
Not all provider carry out a strict credit check. Some don’t conduct credit checks at all. Therefore, be sure that you can get a payday loan without a credit check.
The procedure for applying for a loan without a credit check is standard. You fill out a special form and send it to the lender for consideration. After loan approval, the money is transferred to the bank card you specified.
Pay attention that the APRs for payday loans without a credit check are quite high. Therefore, it is better to contact lenders who perform a soft credit check. This will allow you to get competitive offers even with bad credit.
Pros and Cons of Online Payday Loans In California
Payday loan is a popular way to get instant money without refusal. It is gaining more and more momentum and is displacing many bank programs. Such a loan solves the situation when a certain amount of money is needed urgently, and there is no time to collect loan documents for borrowing money at a bank.
Payday loans have several key advantages. However, there are several drawbacks. Consider the main pros and cons in the table below.
|Flexibility in working with individuals with a low-income level. Payday lenders have their own criteria for evaluating clients and their ability to pay. Therefore, almost any person who has reached the age of 18 can receive money.
|The customer cannot borrow large amounts. According to California law, the maximum allowable amount of a California payday loan is $300.
|There is no need to visit the office to get a California payday loan. All interaction with the client is conducted through the company’s official website. The application is processed in a matter of minutes.
|Short-term lending. The repayment term usually does not exceed 31 days. Therefore, when contacting payday lenders, it is important to assess whether you can return the money within the specified period.
|Transparent refund system. You can find out the final amount to be repaid using a calculator. There are no hidden fees. The APRs and late payment penalties are known in advance.
|High APRs. Loans in California are subject to fairly high APRs. The average annual interest rate is 372%.
|If you apply again, the interest rate may decrease, and the general amount may increase. The loyalty program is designed for long-term cooperation.
|Required credit score 550-600. Most reliable payday lenders set a requirement for an applicant’s credit score. It should be 550-600. Those with poor credit scores find it more difficult to obtain quality lending services. But still, it is possible. After all, many payday lenders do not conduct credit checks at all.
|Work with the client base is carried out 24/7. This is very convenient when the need for money arises due to unforeseen circumstances and cannot be predicted in advance.
Alternatives to Payday Loans Online In California
There are several good alternatives to instant payday loans:
- Local nonprofits and charities. By contacting such organizations, you are unlikely to be able to get cash for home repairs or vacations. However, you will receive help with your crucial expenses such as clothes, food, transportation, etc.;
- Credit unions. Credit unions differ from banks in that they do not issue loans for profit but to provide financial support to their members. Their work is simple. Some members of the union deposit their own funds and others take loans at interest. These can be loans for repairs, training, purchase of equipment, etc.;
- Family loans. This is another good way to get a deposit for urgent expenses. The commissions are usually small.