If you’re facing a tough financial situation and require an immediate loan, then a traditional loan might not be the best option. It’s a time-consuming process, takes a while to approve, and if you have a poor credit rating, you’ll likely be rejected. In contrast, a payday loan is the perfect short-term loan option to help you pay for sudden expenses.

If you’re looking for a payday loan in California, it’s helpful to know how approval differs from that of a traditional loan and what to expect during the process. 

approval for payday loan

Here’s what you need to know about what goes on in the approval process for a payday loan in California:

1. Start Your Application Online or In-Person

The first thing is to find a reliable payday loan lender such as Cashback Loans with a solid reputation. You should make sure your lender is a direct lender and not a third-party lender so as to avoid unnecessary fees and privacy complications.

Next, you can start your application either online or in-person. Most people prefer the convenience of starting the application online since the entire process can be done without meeting someone face-to-face. 

However, if you prefer to speak to someone throughout the process, then Cashback Loans has several locations around Southern California that make in-office communication convenient and simple.

2. Collect and Submit the Required Documents

Next, you’ll need to collect the documents required by the lender and submit them. You’ll need the following to apply:

  • An active and open checking account so that the lender has somewhere to deposit your funds.
  • Proof of steady income such as pay stubs, income letters or tax documents. This will prove that you’ll be able to pay back the lender in the short-term period determined.
  • California residence is required if you want to take out a payday loan in California. Proof of address can be mail addressed to you or a valid driver’s license.
  • Government-issued ID such as driver’s license, passport, or state identification card will prove that you’re over 18 at the time of borrowing.
  • Valid contact information such as a name, email address and phone number is required so we can stay in touch with you regarding your payday loan.

These are the basic documents required for a payday loan. If you’re submitting them online, then we suggest scanning them if possible. If you’re applying in-person, then photocopying the documents is perfectly acceptable.

3. Wait a Couple of Minutes to Be Approved

Unlike a traditional loan that could take several days before you’re approved, a decision for your payday loan will be made in virtually minutes. This is because you’re not subject to a credit check and you only have to submit a couple of documents to prove that you’re eligible for a payday loan. 

This greatly speeds up the entire process and makes it a fantastic option to help you get out of a tough financial situation. This also means that payday loans are a good option for those with a poor credit rating and it can even help you repair your rating if you meet all of the repayment terms and pay back the loan on time.

4. Once Approved, You Can Get an Instant Funding Option

Cashback Loans offers an instant funding option, which means that we can deposit your funds into your checking account immediately after the approval process has concluded. This means you don’t need to wait days for the money to arrive in your bank account, and you’ll be able to access and use the money almost immediately.

As you can see, the approval process for a payday loan in California is quick and simple. It’s even faster if you already have the documents required to apply for a loan. The approval process is much shorter than a traditional loan since it doesn’t require the lender to perform a credit check and they don’t need to ask for several financial documents. This makes payday loans a reliable option to pay for emergency expenses, even if you don’t have a great credit rating.



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