California Payday Loan

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California Payday Loan

California residents have felt the economic impacts in recent years as much as any state. As a result, many people have found themselves in a cash shortage situation. This may be due to unexpected or emergency expenses like auto repairs, medical bills, utility bills, or any other unexpected expense. It may be as simple as not having enough cash to put food on the table.

Online payday loans in California are a convenient option compared to driving around trying to find a single storefront. FaaastCash is an online referral source to more than 100 direct lenders that is a better alternative to storefronts or individual lenders.

California Payday Loan Law and Regulations

  • Legal Status Legal
  • Interest Rate (APR) 460% maximum
  • Maximum Loan Amount $300
  • Minimum Loan Term Not Specified
  • Maximum Loan Term 31 days
  • Number of Rollovers Allowed 0
  • Number of Outstanding Loans Allowed 1
  • Cooling-off Period 1 day
  • Finance Charges $17.64 per $100.00 - 15% of the amount advanced (up to $45)

Loan Amounts in California

California imposes a $300 maximum loan amount on payday loans offered in the state. Payday loans can be taken for a period of no longer than 31 days with a maximum finance charge of 15% for every $100 borrowed. There is no minimum loan amount.

No additional charges are allowed for the extension of a loan. No rollovers are allowed, there are no cooling-off periods between 2 consecutive loans, and only one outstanding loan is allowed at any given time.

There is an allowed $15 NSF fee for missed payment; criminal actions in all cases are prohibited.

Maximum Term for Payday Loans in California

According to state law, the limit for the loan term is 31 days.

In California, there is also a law about a cooling-off period: 1 day cooling off period between 2 consecutive loans, and only one outstanding loan is allowed.

No rollovers are allowed in California.

Are payday loans in California legal?

Payday loans in California are legal.

The maximum loan term is 31 days with the maximum finance charge of 15% for every $100 you borrow. No additional charges are allowed for the term of the loan.

Eligibility Criteria for Online Loans in California

Eligibility for a payday loan does vary by state, but California is very similar to most states. Your direct lender will inform you of all terms and conditions of any loan as well as any information required that you did not complete on the short loan request form.

Here are the basic criteria for getting a California payday loan:

  • Be 18 years of age or older,
  • A legal resident of California with a resident address,
  • Have a regular source of income, preferably for the last 3 months,
  • Have an active checking account,
  • Be a U.S. citizen or legal resident.

How do online loans in California work?

We simplified the process for requesting online loans in California. Apply for your California payday loan online in just a few minutes, without driving around, tons of paperwork, and long waits. And the process is fast and secure. Once you submit your request, you get an answer in less than 90 seconds.

If approved, you are connected directly to your lender, who will answer your questions, explain the terms and conditions, and arrange to deposit your loan into your bank account in one business day.

Quick Online Application

Complete our online form for your California Online Payday Loan. It is quick, easy, and secure.

  • Instant Decision
    You get your decision in just seconds, not quite instantly but extremely fast. If you are accepted, you will be connected directly to your lender within 90 seconds or less.
  • Get Your Cash
    Cash is deposited in your account in as little as 1 business day.
  • Repay Your Payday Loan
    The original loan amount & any fees will be debited from your bank account on the payment due day, often your next pay date.

California Payday Loans FAQs

Can I get 2 payday loans?

So yes, the law allows you to get a second payday loan if you already have one. But you cannot have 2 payday loans at one time, there must be 1 day between each loan. This does not mean a lender will give you a second loan. Before a lender gives you a loan, you give them permission to review your loan request again.

Why select us for Online Loans in California

FaaastCash works with direct lenders licensed in the state of California. All states that allow payday loans (most) require licensing by lenders. With almost 10 years of experience, we are committed to helping the people of California in solving their financial emergencies quickly by providing fast cash advances.

Do payday loans call your employer?

Lenders typically verify employment status or verify income by asking you to provide a recent pay stub, bank statement, SSI payment letter or other document verifying income. In some cases, a direct lender may verify your employment by making a quick call to your employer.

Online Payday Loans California

If you are looking for an online payday loan in California, FaaastCash can help you get a cash advance easily and quickly. We are a payday loan referral service and help you connect with our large network of 100 direct payday loan providers. We aim to provide safe and convenient payday loan options to all residents of California.

Can payday lenders take you to court?

The short answer is yes, a payday lender can sue you in court if you default on your debt. In order for them to take you to court, you must be delinquent on your payments and in violation of your loan agreement. Note: payday lenders can only take you to civil court – not criminal court. In most cases, your lender will not take you to court but will send your account to a collections agency who may then take you to court.

Is there a limit to how many payday loans you can get?

Yes. You can have one loan at any given time and up to 2 loans after a short cooling off period of 1 day. It is recommended you only use online loans in California for emergency purposes and not as a regular financial tool.

Why would a payday loan be denied?

The most common reasons for denial include not passing affordability checks, past borrowing history where payments were missed, and your employment status (e.g., not being fully employed or currently employed).

Apply for online payday loans today!

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Applying does NOT affect your FICO® credit score!
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