Fast Online Payday Loan [ SANTA CLARITA ]
Possible types of loans:
- $100, $200, $300, $400, $500, $600, $700, $800, $900, 1000 dollars are emergency payday loans in Santa Clarita California 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 – Santa Clarita, CA 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 Santa Clarita, CA, 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 :: Santa Clarita California Direct Lenders (list of offline stores and agencies nearby)
| Company | Address | Phone |
|---|---|---|
| OneMain Financial | 24152 Lyons Ave, Santa Clarita, CA 91321 | +1 661-964-6370 |
| Check Into Cash | 18553 Soledad Canyon Rd, Santa Clarita, CA 91351 | +1 661-299-5564 |
| First Entertainment CU | 25828 McBean Pkwy, Santa Clarita, CA 91355 | +1 888-800-3328 |
| Sabie Finance | 25845 Railroad Ave, Santa Clarita, CA 91355 | +1 661-259-0071 |
| ACE Cash Express | 27532 Sierra Hwy, Santa Clarita, CA 91351 | +1 661-251-3749 |
| 5 Star Car Title Loans | 17723 Sierra Hwy, Santa Clarita, CA 91351 | +1 661-402-9383 |
About Small Payday Loans in Santa Clarita California
Navigating a financial shortfall can be stressful, and sometimes, a sudden expense demands an immediate solution. For residents of Santa Clarita, payday loans and other short-term financing options are readily available, but it’s crucial to understand the requirements and terms before committing. These loans are a specific form of credit designed for immediate, short-term needs and come with significant costs and regulations set by the state of California.
This guide will break down the minimum eligibility requirements and the standard terms you can expect if you’re considering this type of loan in Santa Clarita.
Minimum Requirements for a Payday Loan in Santa Clarita, CA
Payday lenders in Santa Clarita, like all those operating legally in California, must adhere to state laws. The requirements are designed to be minimal, making these loans accessible to a wide range of borrowers, but they are strict and non-negotiable. To qualify for a payday loan, you will need to provide proof of the following:
- Age and Residency: You must be at least 18 years of age and a legal resident of the United States. Lenders will require a government-issued photo ID, such as a California driver’s license or ID card, to verify your age and identity.
- Proof of Income: This is the most critical requirement. Lenders need assurance that you have a reliable source of funds to repay the loan. Acceptable proof includes recent pay stubs from your employer, bank statements showing direct deposits of your salary, or, for those who are self-employed or receive benefits, documentation of consistent income deposits.
- Active Checking Account: You must have an active checking account in your name. The lender will typically require a voided check or your bank account and routing numbers. This account is used to deposit the loan funds and, crucially, to withdraw the repayment amount on the due date.
- Contact Information: You must provide valid contact details, including a working phone number and email address. The lender will use this to communicate with you regarding your loan.
While a credit check is not typically a barrier—as these loans are often advertised as “no credit check” or “bad credit” loans—the lender may still perform a soft credit pull or check databases to see if you have any outstanding payday loans, as California law limits borrowers to one payday loan at a time.
Terms of Quick Short-Term Loans in Santa Clarita, California, USA
The terms for payday loans in California are strictly regulated by the California Department of Financial Protection and Innovation (DFPI). Understanding these terms is essential to avoid falling into a cycle of debt.
- Maximum Loan Amount: The law caps payday loans at $300. Lenders cannot offer more than this amount.
- Loan Fee Structure: California law does not use an annual percentage rate (APR) cap for payday loans. Instead, it sets a maximum fee that lenders can charge. The fee for a payday loan cannot exceed 15% of the amount of the check or the principal amount of the loan. For example, if you borrow $300, the maximum fee a lender can charge is $45 (15% of $300).
- Equivalent APR: While the fee is a flat $45 on a $300 loan, if you calculate the cost as an Annual Percentage Rate (APR)—which spreads the cost over a full year—it becomes extremely high. A $45 fee on a 14-day $300 loan translates to an APR of over 460%. This is the true cost of the convenience of a payday loan.
- Loan Term (Length): The term of a payday loan is designed to be very short, aligning with your next payday. By law, the minimum term is not less than 15 days, but the maximum cannot exceed 31 days. You are expected to repay the full loan amount, plus the fee, by your next paycheck.
- Right to Rescind (Cancel): You have the right to cancel your payday loan agreement without cost or penalty by the end of the next business day after the loan is funded. You must cancel in writing and return the full principal amount.
- Repayment and Non-Sufficient Funds (NSF): If there is not enough money in your bank account on the due date, the lender will attempt to withdraw the funds. This will likely result in a failed withdrawal attempt and a fee from your bank. The lender may also charge a separate returned check fee, which is capped by law (currently a maximum of $15 for the first failed attempt and $35 for subsequent attempts).
- Extended Payment Plan: This is a critical consumer protection in California. If you cannot repay your loan when it is due, you have the right to request an Extended Payment Plan (EPP) from your lender at no extra cost. This plan allows you to pay back the loan in installments over a longer period. You are entitled to this plan once every 12 months. You must request it before the close of business on the next business day before your loan is due.
