Online Payday Loans in Texas
- Texas-Licensed Direct Lenders
- Short-Term Loans
- Almost Instant Approval
- Guaranteed Approval for Qualified Candidates
- Quick Cash Available
- No Credit / Bad Credit OK
Applying for an online payday can be the right solution for your short-term financial needs. With 1FirstCashAdvance, you get fast loan decisions from direct lenders licensed in Texas. Our team ensures the confidentiality of your data while you apply for the loan you need. On top of that, we welcome applicants with no credit or bad credit. Customers with alternative income sources may also submit a request. Texas residents are free to apply at any convenient time, 24/7.
Texas Online Payday Loans
Overview. Payday loans are loans that you take for a short term. In other words, you borrow a sum of money, then repay the debt in full when due. The repayment is usually from your next paycheck. Above all, remember that a short-term loan is not meant to meet long-term financial goals.
Amounts. You can apply for a payday loan up to $1,000 and more in the state of Texas. Although state rules don’t specify a maximum amount, the sum borrowed plus fees must not exceed 20% of the customer’s monthly income. Lenders usually offer up to $1,500 in payday loans. The amounts most popular with borrowers are $100, $300, $500, $800, and $1,000.
Terms. Texas state regulations allow for payday loan terms of up to 180 days or six months. The typical terms for amounts up to $1,000 are between two weeks and one month.
Cost. The finance charge for a payday loan is calculated depending on the loan amount and term. As a rule, the finance charge fits within the range of a maximum of $30 for each $100 that you borrow.
Example. Say that you borrow $250 at a contract rate of $0.96. Your fee is $28 for each $100 borrowed, and your loan is for 14 days. Therefore, your fees will be $70, and you will have to repay a total of $320.96.
Texas Online Installment Loans
Overview. An installment loan money that you borrow in a lump sum, then repay over several months, with finance charges. Compared to payday loans, installment loans allow for longer terms and higher amounts.
Amounts. Texas residents can apply for installment loans of up to $5,000. Certain loan services will have lower limits. The state doesn’t cap the maximum amount you can lend. However, the sum for repayment (principal amount plus fees) should not exceed 20% of your gross earnings per month. Popular amounts for installment loans include $1,300, $1,500, $1,900 and $2,000.
Terms. Installment loans have to be repaid within six months. Depending on your income type, you can pay bi-weekly or monthly.
Cost. The loan provider calculates the charge for a loan depending on the amount range, the exact loan duration, and your income details.
Example. Say you get a $400 installment loan approved for five months at an interest rate of 9.98%. Your fees would be $328.49. Each month, you would have to pay around $150. If you keep to the repayment schedule, your final payments will add up to $746.44.
Interest Rates for Texas Online Payday Loans
Nationwide, the rates on Payday Loans range between $10 and $30 for each $100 that you borrow. However, a few more specific rules apply in Texas based on a customer’s principal, term, and financial circumstances. For example, if your loan is over $100, the finance charge would be $10 tops plus $4 a month for each $100 borrowed. If the offer is over $35 but less than $70, the fee for processing the loan can’t be more than $3.50 a month.
In terms of APR (annual percentage rate), payday loans can reach an average of 400%, according to official statistics. According to Texas regulations, you can pay back your loan before term. In this case, the lender will reimburse you the fees that “were not earned.”
Why Consider a Payday Loan?
Anybody can run into financial issues when you need emergency cash as soon as possible. Even the best-organized planners may need a quick short-term loan at some point. As a result, you start your quest for instant approval or no credit check loans near you. And it’s not easy to find a store that’s open now to assist you with your short-term cash needs. If that sounds familiar or plausible, payday loans may be what you need. Generally, borrowers typically consider payday loans in situations similar to the following:
- Medical expenses. Medical emergencies call for immediate action. You may require medication, hospitalization, or a medical procedure. With a payday loan, you may get your cash advance the next business day or even the same day.
- Repair works. Your house and your car need the occasional maintenance investment. Leaky pipes, faulty wiring, a broken fridge at home need fixing. If you have to repair your vehicle to go to work, it only adds to the urgency.
- Daily expenses. Expenses are not always predictable, be it groceries or utility charges. Therefore, your electricity bill may sometimes exceed your planned costs, and you may find yourself saying, “I need money now!
- Family events. Life is more than worrying about your paycheck. Being close to family on holidays and events is essential to your emotional wellbeing. Small-dollar loans are fast financing options that will help you make your loved ones happy.
How to Qualify for an Online Loan in Texas
To be eligible for a payday loan in the state of Texas, you need to meet the required criteria:
- Be 18 or older and provide a valid ID to prove it;
- Have *steady source of income. It’s advisable to have had a job for at least three months before applying for a loan. Moreover, some lenders also require you a minimum monthly wage of at least $1,000;
- Hold an active banking account;
- Provide accurate contact details (home address, phone number, email address);
- Hold US citizenship or have a permanent residence status.
*Having a steady job when applying for payday loans from direct lenders gives you more chances for approval. However, unemployed people with a source of recurring earnings may also qualify. For instance, disabled people on social benefits can try applying for a loan. Single parents with no job but receiving alimony may also have a chance.
No Credit Check Payday Loans in Texas
Most payday loans online applicants receive an almost instant decision. The reason is that most direct lenders operate on a no-teletrack basis. That means online direct lenders in Texas don’t typically pull a full credit check on you. That way, regardless of your credit history, you can still receive a loan offer. As a result, applicants with bad credit or no credit can confidently apply for a loan. In addition, there is little to no credit check on payday loans, which raises the rate of successful applications up to 80%.
Texas Online Loans Quick Application Process
Anyone can easily apply for small payday loans online with 1FirstCashAdvance. Just follow the three simple steps:
- Submit your loan request. Fill in the information. There is no faxing involved. You don’t need to look for stores open over the weekend. Apply online at any convenient time for you. Your details are safe with us. We protect your data throughout the application process.
- Get approval. Once your information is submitted, we share it with trusted direct lenders licensed and examined to operate in the state of Texas. In case of a positive response, the lender will send you an offer via email—no hassle, no marketing phone calls while applying or afterward. As a potential customer, you can ask additional questions about the payment, ask for examples.
- Receive your funds within one business day. Direct lenders understand that most of their clients need the money fast, sometimes in one hour. For that reason, they do their best to speed up application processing. On average, they deposit the funds the next business day.
That seems easy. The entire process is just as straightforward. Fill out your loan application now if you’re struggling with a financial emergency. Keep in mind that a cash advance can be used to meet short-term financial needs. However, it is no match for customers looking to meet long-term financial goals.
A direct lender will usually make a direct deposit into your bank account within one business day from signing the loan agreement. Online same-day deposits also happen occasionally, but they are not a guarantee.
The easiest way is to apply online. Complete the application to proceed. Other locations popular with borrowers include Hidalgo, Cameron, Webb, El Paso, Potter, McLennan, Brazos, Jefferson, Tom Green, Nueces, Taylor, Bell, Lubbock, Wichita, Ector, Gregg.
It is possible to get a same-day loan, but it doesn't happen all the time. To increase your chances, try applying early in the morning on workdays.
Submit your request through 1FirstCashAdvance for an easy process and almost instant approval.
Texas state laws allow for rollovers. However, payment of additional charges may be required. For any questions related to repaying your debt, please contact your lender.
Getting online payday loans in Texas is easy. However, the license of a payday lender is bound to the state that allows them to do business. Therefore, you will need to apply in your state of residence.
That may happen. Despite potential advertising, no denial payday loans are a myth. Legitimate lenders will not take the risk if they don't think you can repay your loan. You can consider alternative options, such as secured loans, an auto title loan, or check the latest apps for loans.