Payday Loans In California

Credit? No credit? Poor credit? No problem. Payday Champion recognizes that customers need quick, secure payday loans in California and don’t worry about credit checks. This means that our operating model is different. Our loan products have higher fees than those that cater to people with good credit scores.

What does it mean to be “a little more”? Our fee is $17.65 for each $100 borrowed. These fees are charged once per loan. If you don’t make the payment, you will incur a returned item fee. This is an affordable option to bank overdraft charges that accrue each time a bill exceeds $100. You could end up with over $100 in bank overdraft costs before you realize it.

What are the loan requirements?

If we don’t use credit scores to determine loan applicants, then what methods do California lenders use to approve online payday loans? 

 Each lender has a different approval method. However, there are some standard guidelines that all lenders can use.

Choose a California-licensed direct lender 

Choosing a licensed direct lender in California for your California online payday loan is a wise decision. Why? Two words: Personal security. Direct lenders licensed by the state, such as Payday Champion, service the loan from application through repayment.

 This means that all information on your application remains in one place. Direct lending is a “transfer” of funds from the ultimate lender towards the ultimate borrower. You can illustrate this by someone filling out a payday loan application. They are approved by Payday Champion and funded within one day. Then, when the loan is due, they submit payment. Payday Champion handles all aspects of the loan process. 

Benefits of working with a direct lender

What does this all mean for you, the borrower? First, you are only working with one company. Indirect lenders are those who send your application information to multiple lenders, all of whom may have the opportunity to win your business.

Although this may sound like more money, it doesn’t necessarily mean you will get approval. Also, there is the possibility of misuse of your personal information. Because direct lenders are subject to stricter compliance requirements at the federal and state levels, they are vital.

How much can qualify for?

In California, some loan providers claim to offer loans up to $1500.  But it is against the law in California to extend a payday loan exceeding $300, including applicable fees. Lenders who claim they offer more than $300 in California could be misleading or promoting false information. 

They might be advertising loan amounts that they can offer in other states with different loan restrictions. The state may not license them to provide payday loans.

How to find legitimate state-licensed lenders

California’s government recommends that you verify that your payday lender has a state license. There are several ways to verify the licensing status of a lender. 

• You can check with the payday lender directly or use free tools to check your license status.
• A customer service representative of the company should obtain a valid state license number for you.

Intelligent consumers will choose to use a California state-licensed lender for their online payday loan.

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