Compare the Loan » california payday loan http://www.comparetheloan.com Just another WordPress weblog Sun, 16 Aug 2009 02:31:21 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 California Payday Loan and Cash Advance (CA) http://www.comparetheloan.com/california-payday-loan-and-cash-advance-ca http://www.comparetheloan.com/california-payday-loan-and-cash-advance-ca#comments Thu, 02 Jul 2009 12:58:43 +0000 admin http://www.comparetheloan.com/?p=51 Like in many other states, payday loan lending in California State are lawful and have tight restriction to regulate the payday loan industry. At any one time, customer is not allowed to borrow more than one loan and any kind of renewal or extension is not allowed as well. Payday loan lenders are allowed to issue a loan using a post-dated check but it must hold the check for more than 30 days. It is common practice in California cash advance of not accepting government check and also payday check that 3% more than of the check face value. According to state law, it is prohibited for payday loan lenders to pursue legal action against the borrowers. Details of the California payday loan requirements are summarised as follows:

  • Maximum Payday Loan Amount: Borrowers are qualified to apply up to a maximum of $300 in any payday cash advance loans.
  • Terms of Payday Loan: The term of loan given to all borrowers is 31 days maximum.
  • Payday Loan Extensions: In California State, it is not allowed for any renewal or extension.
  • Payday Loan Fees and Charges: The maximum interest a payday loan lender can charge is 15%. The fee for a customer to borrow a payday loan amount of $100 for a two weeks term period is $17.65.
  • Payday Loan APR Rate and Fee Schedules: The typical annual percentage rate (APR) for a 14 day payday loan of $100 is 459%.

The payday loan industry in California is huge and growing. Based on a survey conducted in 2003, there are more than 3000 lenders in the state alone. Therefore it is wise to shop around to find the best deal before committed yourself.

To apply for a California payday loan, why not check out our recommended list of online payday loan lenders below. They cover all 50 states including California (CA).

Recommended Online Payday Loan Companies


 Speedy Cash

Getting an online payday loan with Speedy Cash is simple and secure. You can borrow loan amount range from $100 up to $1500. No credit check, no fax, instant approval and receive the funds directly in your bank account in less than 24 hours.



CashNetUSA

CashNetUSA offers superb support with 24/7 customer service. Apply a payday cash advance loan at CashNetUSA is quick and easy with their 5 minutes online payday loan application. No credit check and no fax document is required. Customers get approval instantly and cash deposited into their bank account in the next business day.



Cash Central

Cash Central is one of the longest serving payday loan lender in the America, with over 20 years of payday lending experiences. They offers superb personal friendly service with secure and reliable online process. Apply for an online payday loan with Cash Central is made easy with their simple 3-step online application. Quick loan approval and receive the loan within 24 hours.


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