Fast Online Payday Loan [ BROWNSVILLE ]
Possible types of loans:
- $100, $200, $300, $400, $500, $600, $700, $800, $900, 1000 dollars are emergency payday loans in Brownsville Texas USA, which are issued for a period of 1, 2, 3 or 4 weeks (until your next salaries).
- $1500, $2000, $2500, $3000, $3500, $4000, $4500, $5000 – Brownsville, TX installment loans that can be taken out for terms of up to 2 years (most often 1, 6, 9, 12 or 3 months).
To get fast online cash advances (payday or personal loans, short-term loans, fast cash) with instant approval in Brownsville, TX, USA, use our simple 5-minute application form! The money will be credited to your bank account within 24-48 hours (or faster) after approval.
Cash Advance Near Me :: Brownsville Texas Direct Lenders (list of offline stores and agencies nearby)
| Company | Address | Phone |
|---|---|---|
| Sun Loan Company | 942 E Washington St, Brownsville, TX 78520 | +1 956-542-1888 |
| Key Finance | 837 E Elizabeth St, Brownsville, TX 78520 | +1 956-350-9992 |
| Security Finance | 3670 Boca Chica Blvd #1, Brownsville, TX 78521 | +1 956-544-6400 |
| Atlas Credit Co. | 2921 Boca Chica Blvd #20c, Brownsville, TX 78521 | +1 956-546-6800 |
| ACE Cash Express | 2921 Boca Chica Blvd Ste D, Brownsville, TX 78521 | +1 956-541-7700 |
| Oportun | 2715 Boca Chica Blvd, Brownsville, TX 78521 | +1 956-622-5572 |
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About Small Payday Loans in Brownsville Texas
Minimum Requirements for a Payday Loan in Brownsville, TX
Payday lenders in Brownsville must adhere to the regulations set by the state of Texas. These laws establish a baseline set of requirements that all borrowers must meet. While individual storefronts on Alton Gloor or online lenders serving the area might have slight variations, you will typically need to provide the following:
- Age and Identity: You must be at least 18 years old. You will need to provide a valid, government-issued photo ID, such as a Texas driver’s license or state ID card, to prove your identity and age.
- Proof of Income: Lenders need to verify that you have a reliable source of funds to repay the loan. This is a non-negotiable requirement. Acceptable proof includes recent pay stubs, bank statements showing direct deposits, or documentation for benefits like Social Security or pension income.
- Active Bank Account: You must have an active checking account in your name. The lender will use this account to deposit the loan funds and will typically require authorization to electronically withdraw the repayment amount on the due date. You may need to provide a voided check or your bank account and routing numbers.
- Social Security Number: You will be required to provide your SSN for identity verification purposes.
- Contact Information: You must provide valid contact details, including a working phone number and sometimes an email address.
A key feature of payday loans is that lenders often do not perform a traditional credit check through the major bureaus (Experian, Equifax, TransUnion). Their primary concern is your current income and ability to repay the loan immediately.
Terms of Short-Term Loans in Brownsville, Texas, USA
The terms for payday loans in Texas are defined by state law, specifically under the Texas Finance Code. It is important to know that Texas has some of the most lender-friendly laws in the United States, which can lead to extremely high costs for borrowers.
- Maximum Loan Amount: There is no state-mandated maximum loan amount for a payday loan in Texas. Lenders can offer loans much larger than the $500 cap seen in other states, potentially increasing the borrower’s risk and debt burden.
- Fee Structure (The Cost): Texas law does not cap interest rates on payday loans. Instead, lenders operate as Credit Access Businesses (CABs), which allows them to charge fees for their service of obtaining a loan for you from a third-party lender. These fees, when combined with the interest, can result in extremely high Annual Percentage Rates (APRs).
- A typical payday loan in Texas can have an APR ranging from 300% to over 600%, making them one of the most expensive forms of credit available.
- Loan Term: The standard term for a payday loan is short, usually until your next payday, which is typically two to four weeks. However, lenders may offer slightly longer terms for larger loan amounts.
- Right to Repay Early: You have the right to repay your loan early at any time without facing a prepayment penalty.
- Rollovers and Extended Payment Plans: If you cannot repay the loan in full on the due date, the lender may offer you a “renewal” or “rollover.” This process involves paying only the fees to extend the due date, while the principal amount remains owed. This can quickly lead to a cycle of debt where you pay repeated fees without reducing the original loan amount.
- Texas law does require lenders to offer a no-cost, extended payment plan if you are unable to repay your loan. You are entitled to request this plan once per 12-month period. It allows you to break your payments into four equal installments, but you must proactively request it from your lender.
