At Georgetown Mortgage Bank, we know that cash emergencies occur at unexpected times. Texas payday loans, also known as cash advances, are designed to provide the quick money you need in an emergency. We strive to make the borrowing experience as easy, fast, and friendly as possible.
How does the Texas Payday Loan work?
- Apply. You can apply for a payday loan online or offline in just a few minutes.
- Get an immediate approval decision.
- Digitally sign the loan agreement.
- Receive money in your bank account on the next business day.
- Make a one-time payment or pay with monthly installments.
General Information about Payday Loans in Texas
You can apply for a payday loan up to $1,000 or 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. 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 14 and 30 days.
The finance charge for a payday loan is calculated depending on the payday 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.
Payday Loan Repayment
Think that a Texas payday loan is the shortterm financial product for your cash needs? While quick cash could help you get out of a financial rut, start thinking of how you plan to repay your payday loan. In fact, part of being a responsible borrower is having a repayment strategy prepared before you apply for a Texas payday loan.
We operate as a Credit Access Business (CAB) in Texas. So, you will be charged a regular CAB fee and paid the loan amount and interest at the end of the 6 month period.
Eligibility Requirements for Bad Credit
Your creditworthiness is not important when applying for a Texas payday loan. When applying for an online payday loan, Texas residents must meet the following requirements:
- A valid bank account is required. Account must not be less than 30 days.
- You need a reliable and verifiable source of income.
- Must be over 18 years old.
- You must live in a place where payday loans are allowed or legal.
What are the Texas Payday Loan Alternatives?
One of the best options is an installment loan. This is a good option if you need a longer period. Georgetown Mortgage Bank also offers installment loans in Texas. There are various credit options for credits, such as personal loans, payday loans, and title loans. All of these options ensure you receive the money you need at the end of the day.
However, some things make these loans unique. Understanding the difference is always a good idea. It will help you find the best loan option based on your situation. We have been offering payday loans in Texas for several years. Anyone who applies for a loan from us today knows how easy and short our application is. You can easily apply for a payday loan from us, and you will have the money the next working day.