If you find yourself in need of cash, but your pay day still seems far away, you can take out a speedy online payday loan through our referral service. We all find ourselves needing financial help from time to time, and we are here to help you when you need it. Get a fast and easy cash advance loan from anywhere in Alabama. Send a request right away and get a decision in a few minutes.
Table of contents:
- What Are Payday Loans?
- How Do Payday Loans Work?
- How to Get a Payday Loan Online
- Steps to Take Before Applying for Payday Loans
- Eligibility Criteria for Alabama Payday Loans
- Alabama Payday Loan Regulations
- Top 6 Reasons to Take Speedy Payday Loans in Alabama
- Reasons Why You Might Have Been Rejected
- How Are We Different from Other Payday Loan Providers in Alabama?
- What if My Credit Score Is Poor?
- Find an Alabama Payday Loan Near You
- Alternative Options to Consider When You Need Fast Cash
- Payday Loans Alabama FAQs
What Are Payday Loans?
Many people use our online platform to find small-dollar payday loans to deal with unexpected bills, emergency expenses, car repairs, home improvements, etc. Loan amounts typically range between $100 and $1,000. Once accepted, you can have the money into your bank account in just half an hour. Loans are usually due on the day you receive your next pay check or close to this date.
Our online referral service helps you find easy payday loans in Alabama with all the best features:
Important: payday loans are not suitable for you if you need extra cash to go shopping, gambling, or partying. It is also not recommended to use such loans if you are dealing with a long-term financial problem. Be sure to assess your budget so that you are able to afford repayments on time. If you default on your loan, this may result in increased interest, penalties and damage to your credit score.
How Do Payday Loans Work?
We simplified the process for getting Alabama payday loans. Now you can apply for a payday loan online in a few clicks, without walking around the city, tiresome paperwork, and long queues.
With us, once you complete an online applciation form, get an immediate decision and same-day funding if accepted. Due to the speedy nature of the loan, this lending product is very popular across Alabama. You can have the funds in your account very quickly – within just one hour!
Payday loans are processed 100% online. You can borrow up to $1,000 directly from your smartphone or tablet, from the comfort of your own home or office. It takes 2-5 minutes to complete the application form, and you will get an immediate decision.
The online loan process is hassle-free and straightforward. A payday loan can be especially useful when you face an emergency expense that can’t wait. The reasons why you may need a loan are numerous. some of the most common reasons include an unexpected medical bill, debt consolidation, tuition fees, car repair, or home renovation.
How to Get a Payday Loan Online
Once you click on ‘Get Started’, the form provided, you’ll have to fill in a few simple fields: name, birth date, phone number, email address, the desired loan amount and term, your employment status and income size. We will ask for basic personal information only as well as expenditure details. We understand that consumers often need extra cash in an emergency, so we’ll try to help you get access to the funds as quickly as possible.
Steps to Take Before Applying for Payday Loans
Payday loans are very popular because they are simple to access and provide speedy funding. Regretfully, this ease of access has caused some negative rumors around payday loans, especially when consumers don’t do some research first. To make sure this lending product is a good option for you, we recommend that you should always do the following before applying:
- Choose the right type of loan – Although speedy payday loans are a very specific type of borrowing, some lenders offer products called “payday loans” that have some differences. For example, some lenders may ask the borrower to provide collateral. Know the features of your loan before applying.
- Check the lender’s requirements – Each company has different eligibility borrower requirements related to proof of income, credit ratings, loan amounts and duration, and repayment options. Before applying for a loan online, be sure you comply with basic borrower eligibility requirements (see below).
- Understand your state laws – Each state has its own limitations and regulations on payday lending. These laws are introduced to prevent predatory lending practices that take advantage of low-income consumers, and lenders must obey them. Read these laws and make sure that your lender complies with any applicable state statutes.
- Consider your other options – Payday loans aren’t suitable for every borrower. If you need a few hundred dollars to solve a minor financial problem, you might also consider other options like getting a side job, using credit cards, or borrowing from friends or family.
Eligibility Criteria for Alabama Payday Loans
Eligibility borrower requirements in Alabama are similar to most states. But, again, you must always contact your lender if you have any questions. Here are the basic criteria for getting easy payday loans in Alabama:
- Be at least 18 years of age;
- Be a legal resident of Alabama;
- Have regular employment for the past 6 months;
- Have a valid checking account;
- Have a valid email address and phone number;
- Be a U.S. citizen or legal resident.
Alabama Payday Loan Regulations
You should know the costs and fees while taking online payday loans in Alabama. An interest rate is individual for every borrower and depends on several factors: a sum you take, your credit score, your income, etc. If you are going to borrow not more than $30, a company is not able to charge more than a dollar per every $5 borrowed. If you take a $100 loan for 14 days, the annual percentage would be 309%.
If you need a loan in the amount between $40 and $100, you will be charged a legit acquisition: one-tenth of the amount. If you borrow more than $100, this fee cannot exceed $10. By the way, the maximal loan amount is not indicated in Alabama. A lending term varies from 7 to 31 days.
| Law status | legal |
| MIN Loan Amount | $100 |
| MAX Loan Amount | $500 |
| MIN. Loan Term | 10 days |
| MAX. Loan Term | 31 days |
| MAX APR 300% | 300% |
| NSF fee | $30 |
| Additional fees | Not more than 17.5% of the loan |
| Cooling off period | 1 business day |
| Collateral or guarantor | None, unsecured |
| Default penalties | 3% a month from the default date |
| Extension, repayment plan | Repayment plan |
| Number of simultaneous loans | One |
| Credit score requirements | Available for Bad Credit |
| Rollover | 1 rollover |
Top 6 Reasons to Take Speedy Payday Loans in Alabama
Do you need a loan from a credible lender in AL? Then Speedy Payday Loans is exactly what you have been looking for for so long. The process of applying and receiving funds is simplified as much as possible, which ensures the following advantages for clients:
☝Easy application. In order to get an easy loan in AL, you need to simply fill out the form on our website and submit your request.
☝Quick approval. You will be able to learn the lender’s decision instantly. All incoming requests are processed within 5 minutes in an automatic mode.
☝No paperwork. In order to get a loan via the Internet, you only need to provide a government-issued ID and a Social Security Number.
☝100% transparency. We value our reputation, therefore each client receives loans on transparent terms without collateral and hidden fees, which are actively practiced by unscrupulous lenders. The borrower receives the money while at home or office, which allows you to review the terms and rates in a relaxed atmosphere.
☝No need to go anywhere. In order to get a cash advance loan online, you do not need to visit the lender’s in-store location. The entire process is purely online. You do not need to wait for the end of the working day, print documents, stand in a line.
☝Trust in every person. We understand that we work in a specific area, so we consider trust in our clients as the main principle of our work. We do not require tons of paperwork and detailed information about your income. We’ve done everything possible to ensure that every person has the right to take out a loan in AL with any credit score.
As you can see, the times when loans could be obtained in a lender’s physical location are long gone. The money issue can be solved simply – you can just use our referral service and fill out an application form. You should expect to have the money within one hour.
We are here 24/7 to help you
Reasons Why You Might Have Been Rejected
❌You Don’t Meet the Application Requirements
❌You Can’t Prove Your Income
❌You Don’t Have a Checking Account
❌You Have Other Payday Loans or Paycheck Advances
❌You Have Blemishes on Your Accounts
❌You Don’t Make Enough Money
❌Your Credit History is Poor
❌You Don’t Meet the Lender’s Additional Requirements
❌You Make Payments to Gambling Sites
❌You Could Be Facing Discrimination
How Are We Different from Other Payday Loan Providers in Alabama?
We can help you solve your urgent financial problems like sudden utility bill payments, medical emergencies, car repairs, home improvements and more through our speedy payday loans. Our online lenders are trusted, licensed, and follow the payday laws and regulations in the industry.
When you apply online with us, we protect all your personal data with our SSL secured loan request form and do our best to keep all your transactions secure. Our products are helpful for those who are not eligible for traditional bank loans due to their low credit ratings. Lenders from our network also offer flexible loan repayment options to our clients.
What if My Credit Score Is Poor?
No problem. You can get a payday loan even if you have a poor credit score – we have an extensive network of licensed lenders who are willing to help you even if have had loan repayment difficulties in the past. They work with all kinds of credit scores and can offer the most suitable product for your individual needs.
When applying for a loan online, you are not expected to have a good credit history – instead, our lenders will pay attention to some other factors such as your age, income, employment, and the desired loan amount. A combination of these factors can tell the lender a lot about your ability to repay a loan – and it is not just the credit rating that they look at.
Find an Alabama Payday Loan Near You
Searching for the best “payday loans near me”? Well, you can stop your search, because you’ve already found them! We can provide you with the funds you need quickly — and the best part is that you don’t even need to go anywhere.
The lending process is purely online, making our online platform one of the fastest and easiest ways to apply for a loan and receive the funds as soon as the same day. Our referral service is available for customers around the clock, 24 hours a day 7 days a week. Applications submitted and approved before 1:00 p.m. CT are generally funded the same day. So before you sign your agreement with the lender, take a closer look at the Rates & Terms section in the document.
Alternative Options to Consider When You Need Fast Cash
Title loansGet cash quickly with car title loans and you can keep driving your vehicle! Get started online today!
Installment loansAn installment loan is a loan that you repay with a fixed number of regular, equal payments over a set amount of time.
Bad credit loansBad credit loans are designed to help those who are grappling with bad credit ratings to obtain loans online.
Payday Loans Alabama FAQs
Q: How many payday loans can I have in Alabama?
A: You are allowed to have more than one payday loan in Alabama. However, if you have had 2 and repaid them, a cooling-off period of 1 business day is required (after a second consecutive loan) before you can get a new loan.
Q: What is the common interest rate allowed by law on Alabama payday loans?
A: The maximum finance charge is 17.50% for every $100 you borrow. The effective maximum interest rate is 456% APR.
Q: How old do I have to be to get a payday loan in Alabama?
A: You must be at least 18 years of age. Lending to minors is prohibited.
Q: Are there any fees for submitting a payday loan request in Alabama?
A: No, there are no fees for submitting a loan request form via our referral service.