Indianapolis Payday Loans
Getting Indianapolis Payday Loans
A surprising 47 percent of the country can't cover an unexpected $400 expense with cash. What’s more, many can't access traditional credit from major banking institutions or credit cards. That's because over 50 percent of Americans have credit scores that don't meet the 680 threshold. So, to deal with urgent situations, like a car repair or rent payment, some Indiana residents may resort to selling personal items or asking for money from friends or family. Ultimately, many of those in Indianapolis opt for taking out a payday loan instead. If you are searching for a payday loan in Indianapolis, you have many options. At LendUp, we not only provide a better alternative to the traditional payday loan, but also make an effort to improve your financial habits with free financial education. Before applying for a payday loan in Indianapolis, read the essentials about payday loans. Here's what you need to know beforehand.
Ensure You Meet the Criteria for Indianapolis Payday Loans
Indianapolis cash advance companies only lend to adults (18 and older). Many need to see proof of recurring income and residency within the state of Indiana. At LendUp, we are very clear on requirements to get a payday loan in Indianapolis. You must be 18 and need to have a checking account that can accept transfers electronically. We require proof of income, which can be shown with work pay stubs or government checks. Also, you can't be actively serving in the military (or a dependent of an active military member). When you apply, you'll be asked to provide your address, phone number and email address as well. Before taking a loan, make sure you can repay it on time. Many payday lenders and check cashing stores in Indianapolis offer rollover fees, which allow you to extend a loan for an added fee. While this may seem like a convenient solution when you need an extension, rollovers can cause surmounting debt on an original loan, and keep you in a cycle of debt for an originally small loan. At LendUp, we have no rollovers, and offer payment plans at no additional cost, within state and company guidelines and with reasonable notice. We don’t want to keep you in a cycle of debt. We only succeed when you do.
Understand Credit Score Requirements for Indianapolis Payday Loans
While some Indianapolis payday loan companies have credit score requirements, many do not. Check before you apply. At LendUp, we have no set requirement. We have provided payday loans in Indianapolis to those with poor credit. If you have bad credit, you won’t be automatically turned away. We do perform a soft credit inquiry, but this is not a deciding factor. It's our mission to improve the financial standing of those in Indianapolis with poor credit. Also, with LendUp, we also offer free online financial education courses for anyone, whether you’re approved or not.
Know the Timeframe for Applying for Indianapolis Payday Loans
Sometimes, you just need money very quickly. While many payday loan providers in Indianapolis have a loan process that takes just a few business days, that may not be fast enough. Look for lenders that are even quicker. At LendUp, we try to make the process as easy as possible by doing the following:
Making our application seamless: It can take as little as five minutes.
Providing instant decisions: You will know if you've been approved right away.
Offering next day payment: If you are approved before 5 p.m. PT on a weekday, the funds can be sent to your account as early as the next business day. However, your bank ultimately decides when the funds are made available to you.
Skip the Indianapolis rush hour traffic: No need to sit on highway 465. Apply from anywhere from your smartphone or your home computer, and the funds can be sent directly to your checking account.
Only Take Indianapolis Payday Loans from Licensed Lenders
If you want to be protected by lending regulations set by the state of Indiana and the federal government, make sure the lender is licensed in the state. Unfortunately, some Indianapolis payday loan direct lenders operate at an address offshore or on tribal land. This allows them to get around state and federal laws.
LendUp is fully licensed to provide payday loans in Indianapolis. We always abide by local, state and federal law. That ensures you are protected and can take out the loan you need with peace of mind.
Choose the Right Lender for Indianapolis Payday Loans
In addition to checking for proper licensing, you want to consider other factors when choosing a payday loan lender in Indianapolis.
Examine Rates and Terms
When looking for payday loans in Indianapolis, look over each loan's interest rate, loan length and APR (annual percentage rate). Lenders in Indianapolis should be clearly showing you the total repayment amount. At LendUp, provide clear rates and terms and simple language so that you understand your due date and loan fees. That's why we list in detail the loan amount and length, interest charge, administrative fee, APR and total repayment amount.
Avoid Those with Hidden Fees
Some lenders of payday loans in Indianapolis have hidden fees, which can make the loan much more expensive than anticipated. At LendUp, we know transparency with our customers is important. We have no hidden fees. For more information on LendUp Loans in Indianapolis, read our FAQ page.
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an innovative new payday loan banking model that’s more Silicon Valley than Wall Street
LendUp is leveraging technology to redefine the payday lending experience, bringing a new level of innovation and transparency to an industry that desperately needs disruption.
...LendUp is a better product than the traditional payday loan.
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