Posts made in March 2023

What Is a Mississippi Credit Availability Loan?

There are many different types of loans out there for you to take advantage of, but not all of them are the same. This blog was created to help you answer the question; what is a Mississippi credit availability loan? Thankfully, our loan company doesn’t want you to go into any financial agreement blindly. That is why we have created this helpful blog to give you the information you need before you commit to anything.

First, it is essential to understand what a credit availability loan is. This is a binding contract to borrow money that is intended for short-term use and is not generally based on your credit report. A credit availability loan may be paid-off at any time and paying it off early may result in fewer fees.

Second, let’s look at the rights and responsibilities of the borrower:

  • A borrower has the right to cancel the transaction within one business day; however, if the borrower accepts the fund from the lender before the expiration of the one-day cancelation period, any origination fee charged shall be non-refundable.
  • A borrower may be charged a monthly handling fee of up to $25 for every $100 borrowed per month.
  • A borrower may be charged an origination fee of 1% of the amount disbursed or $5, whichever is greater.
  • Loans of $500 or less must be payable in an overall term of 4 to 6 months.
  • Loans of more than $500 and up to $2,500 must be payable in an overall term of 6 to 12 months.

The maximum amount that can be loaned is $2,500.

The Benefits of Payday Loans in Mississippi

If you find yourself in a financial emergency, you might begin to wonder what options are available to you. If borrowing from friends or family isn’t an option, then you might consider going to the bank. But if you are in a time crunch—or don’t have the best credit—then waiting to get approved for a loan could only put you even further into trouble.

This is when payday loans in Mississippi could be the answer to your troubles. People tend to choose payday loans for a variety of different reasons, including privacy, reliability, quickness, ease of application, and ready availability. This makes them a fantastic option when you seem to be out of other ideas—but you do need to make sure you are working with a reputable loan company.

Associating with a trusted payday loan direct lender helps you to eliminate third parties such as mortgage brokers and questionable, unregistered lenders. This enables you to reduce the risk of turning a short-term financial emergency into a long-standing financial hardship. By working with a legitimate payday loan company, you are able to enjoy several benefits of the loan, including:

  • Online Applications & Processes
  • Swift Services
  • High Approval Rates
  • No Issues with Bad or No Credit Scores
  • Your Credit Score Is Unchanged

Guaranteed Approval—Subject to Eligibility