Payday Loans Fresno

Payday loans are short-term loans designed to be generally quick and easy to apply for. These short-term loans are perfect for those who need to get hold of quick cash until their next paycheck. You can qualify for payday loans in Fresno, CA, even without a credit check.

Most lenders offering payday loans in Fresno do so without a credit check. However, note that you must be over 18, a U.S resident, and meet other requirements to qualify for a payday loan.

How Do You Become Eligible for Payday Loans, Fresno?

Different lenders have different loan requirements. However, most payday loan lenders such as Fastloanca only require the borrower to:

  • Be a U.S. resident
  • Be at least 18 years old;
  • Have an active checking account
  • Have a stable source of income
  • Earn a minimum of $800 per month
  • Have an active phone number
  • Have a valid means of identification

How Much Can You Borrow From Payday Loans in Fresno, California

The precise amount you’ll qualify for largely depends on your earnings and the lender. However, you can expect to borrow anything between $50-$1000. Also, note that state laws can influence how much cash you can get from payday loan lenders. For example, payday loans, Fresno limits the borrower to only one payday loan at a time.

This means the borrower can’t have more than one outstanding payday loan at a time. These laws are in place to protect customers from insanely high-interest rates associated with check loans paid after the due date.

How Long Does It Take To Receive a Payday Loan in Fresno, California?

Fresno payday loans take anywhere between 30 minutes to a few hours. However, it may take 24 hours to receive your loan in a few cases. Before receiving the loan, note that you’ll be required to fill out a form on the lender’s website.

The form will contain your name, address, social security number, phone number, and other information. Once you fill and submit the form, your loan request will be sent to different lenders in Fresno, California. If your application is approved, you’ll receive multiple loan offers, and the funds will be transferred to your account the same day.

The Risk of Payday Loans

One of the risks you’ll face with instant payday loans is high-interest rates. Payday loans in Fresno, California, usually come with high-interest rates. Borrowers face serious financial troubles when they fail to repay their loans. Note that the lender will add more fees to the loan each time you extend the payment date.

Lenders are free to impose fees ranging from $10 to $30 for every $100 borrowed. A $15 fee equates to roughly 400% annually. It’s not uncommon to see the annual percentage rate of payday loans exceeding 500%, if not 1,000%

What Do You Need to Consider Before Getting Payday Loans Fresno, CA

Payday loans can be expensive and should be undertaken with care. To ensure you are on the right track, consider these four things before acquiring a payday loan in Fresno, California.

They’re Expensive

The first thing to consider when taking a payday loan is that you’ll be paying incredibly high-interest rates and fees. For example, you will have to pay back $117 for every $100 borrowed, which equals a 442% annual interest rate. That is much more than the usual cash advance rate of 21% for credit cards and overdrafts.

Unlicensed Online Lenders Exist

The next factor to consider is the type of lender you are borrowing from. Note that some websites are just out to get your personal information without actually offering any loans, which can be risky. Also, some websites may gather your information and give it to another third party.

However, you can prevent this by borrowing cash from licensed lenders. You can check if a lender is licensed by visiting the Better Business Bureau (BBB) website or checking with your state regulator or attorney general.

Here are the three main rules lenders must adhere to:

  • A lender can’t charge more than 0.8% interest rates a day.
  • The lender is free to continue collecting interest if you default on loan payments. However, the lender must do so at the same rate you agreed to when applying for the loan.
  • The sum of the interest and any default fees cannot exceed the loan amount. For example, if you borrow $100, the lender can’t charge more than $100 in default fees and interest rates.

Don’t Default on the Loan

If you intend to apply for a payday loan, be sure to borrow only what you can afford to repay. Note that defaulting on a loan can attract severe consequences. The lender may increase your fees, and unless the balance is paid in full, it will only keep increasing.

Also, defaulting on a loan will affect your credit history, and the lender can sue you and have your assets seized. Additionally, the lender could transfer your account to a collection firm that charges its own fees. Some lenders may go as far as informing your family and even your employer about your loan issue.

Ask the Right Questions

Never be in a hurry to accept a loan offer from any lender. Be sure you know what you are getting into before accepting a loan offer. Go through the terms and conditions, and ask about the consequences if you default. Also, ask the lender about the loan’s total amount, due date, associated fees, cool-off period, and others.

A cooling-off period allows you to terminate a loan agreement with no fees or penalties. Lastly, ensure you obtain a copy of the loan agreement you signed. This will come in handy if there are any issues. Never borrow from a lender if they refuse to give you a copy of the loan agreement.


Payday loans, Fresno, are for people who need fast and easy access to loans. Depending on the lender, you can borrow between $50-$1000. To acquire a payday loan, you need to visit the lender’s website and fill out the online form.

Once the lender approves your loan request, the funds will hit your account anywhere between 30 minutes to a few hours.