California Payday Loans| No Credit Check Loans| Online Loans

Select Loan Amount:

50
security protection icon

Applying does NOT affect your FICO® credit score!

When you're short on cash and your next payment is still a few days away, CashinaMoment payday loans may be able to help you in California. We provide a simple application, a rapid judgment based on your qualifications, and money in your account the following business day.

You may have questions concerning the terms and guidelines when searching for an online payday loan in California. Understanding the details of the California payday loans will make it easier for you to obtain and repay. Furthermore, California has special rules governing the usage of payday loans, and we abide by all state and federal requirements.

What is Payday Loans

If you need money for an emergency or to get you through until your next paycheck, a payday loan might be a good alternative. It's a low-interest loan that ranges from $100 to $300, depending on your qualifications and state rules.

In California, payday loans are known as "delayed deposit transactions." Despite the state's strict laws , the payday lending sector is doing well, with more than 2100 lender locations and over 10.1 million payday loans issued in 2019.

Terms for California Residents

Payday loan terms for California residents are as follows:

  • Payday loans in California are restricted to a maximum of $300.
  • Payday loans can be availed for 31 days at most with a maximum financing charge of 15% for every $100 borrowed with 460 percent APR.
  • The extension of a loan is not subject to any additional charges.
  • There are no rollovers permitted, no cooling-off periods between two consecutive loans are permitted, and only one ongoing loan is permitted.
  • A $15 non-sufficient funds fee can be charged, although criminal action is forbidden in all situations.

How to Get Out of a Payday Loan Debt in California

You can take various approaches to get rid of payday loan debt. Here are some of them.

  • Pay off the old debt with a new, lower-cost loan.
  • Use your own money to pay off the debt.
  • Make arrangements with your present lender for a longer payback period.
  • To get out of debt, temporarily raise your accessible funds.

How is Your Payday Loan Due Date Determined

Your loan is due on the date specified in your lending agreement. You can repay on your next payday if your next payday is within nine days of the day you took out the loan. According to California law, the maximum borrowing duration is 31 days.

Repayment Options for Payday Loans in California

Depending on your loan arrangement, you may have several repayment alternatives.

  • At the time of loan origination, write a post-dated check for repayment. Your paper check will be converted to an electronic check for presentation to your bank. You can have your paper check physically deposited rather than electronically provided if you choose.
  • Repay your loan in full, in cash, at any CashinaMoment branch before the deposit time on the due day.
  • Use your debit card to pay off your debt in full at any branch.
  • Use your debit card to pay off your debt in full online.
  • Use your debit card to pay off your debt in full over the phone.

Eligibility Criteria for Payday Loans in California

To be eligible for a payday loan in California, you must meet the following requirements:

  • You must be a legal United States resident.
  • You should be at least eighteen years old.
  • You should have a stable job with a consistent salary.
  • You should have a monthly income of more than $800.
  • A valid and functional mobile phone account is required.
  • Have a current checking account in which your loan will be placed.
  • You should be able to pay back the loan.

(* Los Angeles, San Francisco, and San Diego are included).

What do You Need in Order to Apply for a Payday Loan in California

These are the following documents you need for a payday loan in California:

  • Identification card and social security number (or alien registration number or ITIN).
  • The physical location as well as the phone number to contact.
  • Documents proving your income's source and quantity.
  • Checking account information.

When filling out an online request form, you may be asked to provide the following information:

  • Personal data, including your name, address, contact number, and email id.
  • Bank account details.
  • Name of the employer or a different source of income (s).

California Payday Loans Laws and Regulations

The maximum payday loan amount you can borrow under California Payday Loan Law is $300. The payday lender may impose a fee of up to 15% of the entire amount. For example, if you write a $300 check, you pay $45 in fees and receive a loan of $255.

Payday lenders in California are not permitted to make new loans to pay off current debts or if an existing loan is still due. Borrow just what you can afford to repay in full on your next salary.

California Payday Lending Statutes

The Civil Code 1789.30 et seq. and the Financial Code 23000 et seq. include all the rules and regulations pertaining to payday loans.

In addition, to function in the state, all lending organizations must get a license from the Department of Business Oversight. This step was made with the express purpose of safeguarding consumers' rights and protecting them from fraudulent activities.

Furthermore, all transactions between a lender and a borrower must be detailed in a formal contract. The loan amount, terms, and conditions, such as interest rates and financing costs, should all be included in this agreement. In turn, customers must submit the number on their ID card or driver's license. A payday loan contract must be written in the same language that was used during the lender's talks with you.

Rates, Fees, and Other Charges for California Payday Loan

  • The cost for each $100.00 borrowed is $17.64.
  • Finance charges should not exceed 15% of the amount advanced for every $100 advanced.
  • If a lender willingly agrees to prolong the payment period, additional interest is not permissible by law.
  • Under Section 987 of Title 10 of the United States Code, as amended by 126 Stat. 1785, anybody who violates the provision or a provision of Part 232 violates Division 10 of the California Deferred Deposit Transaction Law (Financial Code 23000 and the following codes).
  • "Typical annual percentage rate (APR) is based on the average rate for a $300 loan offered by the top payday businesses or as established by the state regulator, if applicable," according to the Center for Responsible Lending.

California Payday Loans Statistics

Year

No. of Stores

No. of Clients, million

No. of Loans, million

Value of Fees, million

Value of Loans, billion

2010

2,144

1.6

12.1

$3.1

2011

2,119

1.7

12.4

$3.3

2012

2,100

1.8

12.3

$3.2

2013

2,058

1.8

12.2

$3.2

2014

2,014

1.8

12.4

$3.4

2015

1,969

1.9

12.3

$4.2

2016

1,854

1.8

11.5

$467.2

$3.1

2017

1,705

1.7

10.7

$436.4

$2.9

2018

1,645

1.6

10.2

$420.5

$2.8

2019

1,551

1.6

10.2

$418.4

$2.8

California Payday Loan Terms

  • Licensed lenders can postpone the deposit of client cheques for up to 31 days. (Financial Code 23000 and onwards)
  • The lender reserves the right to refuse this request (by law).

Extended Payment Plan

A lender has two options:

  • Approve a customer's request for EPP, but no extra costs are permitted.
  • Refuse to comply with this request (by the law).

Benefits of Getting a California Payday Loan at CashinaMoment

  • Convenient and quick forms

    Unexpected illnesses and hospital visits are more common than ever. Many times, your insurance does not cover part or all of a particular visit or procedure.Some health care facilities even require prepayment of some or all of your visits before they will even see you!

  • Car & Truck Repairs

    The biggest issue with large lenders is the time it takes to apply for a loan and how tough it is to get authorized. However, at CashinaMoment, you may apply in as little as 2-3 minutes using our simple online forms.

  • Quick approval

    You can get your loan in one working day if you are authorized. Even if you have credit problems, the chances are that your application will be approved.

  • Available anywhere, anytime

    You don’t have to find a lender near your home anymore. You may apply for our online payday loans in California from the comfort of your own home, office, or even while stuck in traffic. All you need is an internet-connected smartphone or device.

  • Transparency

    All agreements and transactions with direct lenders must be transparent. Our agreements are brief and simple to comprehend.

Borrowing payday loans from CashinaMoment

Payday loans feature a limited grace period during which you can repay the amount without incurring fines. Unlike larger loans with longer durations, you will be required to repay the loan within a few weeks, often on your next salary.

Consumer Information

  • Lenders are not required to evaluate a borrower's capacity to repay a loan after July 2020. Be cautious, assess your financial status, and avoid falling into a debt trap.
  • The Department of Financial Protection and Innovation (DFPI – www.dfpi.ca.gov) requires all payday loan lenders in California to be licensed (both online and in-person).
  • The California Department advises that deferred deposit originators have their licenses checked (payday lenders).
  • In California, no criminal action may be taken against a consumer who engages in a delayed deposit transaction, and any criminal punishment for failing to return is forbidden.
  • If a check is returned unpaid, a non-sufficient funds (NSF) transaction charge of up to $15 is imposed.
  • A lender is likewise prohibited from taking criminal action against a borrower if a cheque is returned owing to inadequate cash.
  • A person is only permitted to take out one payday loan at a time and must return it in full before applying for another. There are no rollovers allowed, and all extension costs are considered illegal.
  • Borrowers are also barred from taking out one loan to pay off another. Every time you apply for a loan, a new procedure is started, and a new agreement is signed.
  • Lenders in California are forbidden from providing further loans to consumers who have not paid off their prior ones. It is tough to keep track of a borrower's behavior, but it is not a good idea to take out a new loan before the previous one is addressed, especially if it is riddled with never-ending debt.

The official California Department of Business Oversight (DBO) Division of Corporation’s page has further information regarding payday loan rules and regulations.

The California Office of Financial Regulation regulates payday lenders

FAQs : California Payday Loans

You can apply online.

You can borrow up to $300.

You'll typically get the funds within five business days if you're approved.

Yes, but you must cancel ("rescind") it by the end of business on the next working day after taking out the loan. You can terminate the loan by returning the amount borrowed to the lender.

A payday loan charges $17.65 for every $100 borrowed. For example, a $100 loan with a 14-day payback period would have a total repayment amount of $117.65 and an APR of 460.16 percent.

Convenient and quick forms; Quick approval; You may use it anywhere and at any time; Transparency.

Payday loans in California are fast, simple, and secure.

Loan renewals are not available in California.

No, you cannot be arrested or sent to prison for defaulting on a payday loan in CA.

Payday loans are very convenient and can be obtained even if you have a bad credit score. However, when you consider the interest rates offered by these lenders, you'll notice that they're extremely expensive.

The application process doesn’t take much time. Online applications are processed within minutes, and offline applications are processed the same day.

No, it’s not risky; just read all the documents before signing.