Payday Loans for Bad Credit in Rhode Island

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Personal payday loans sometimes known as a cash advance loan, is usually a short-term loan that is meant to be repaid at the time the borrower gets their next payday. Online payday loans are becoming more popular in recent years, as online technologies have enabled potential borrowers to connect with a lender more quickly than before.

Depending on a variety of factors like credit and loan amount $100-$2000, the terms of payday loans could be different, and a lender may offer some loans to certain types of borrowers who match their requirements.

Requesting a payday loan in Rhode Island

Starting the payday loan request in Rhode Island process is easier than in the past, thanks to the availability of online lender networks. We’re not a lender, but, we work with many lenders in our lender network who may provide payday loans.

To begin the request process, it’s as simple as filling out a simple online form that may take a few minutes to fill out. From there, a potential lender will overview your request, and if you meet their qualifications, they might connect with you shortly.

Payday loan locations in Rhode Island

What do You need to get a payday loan in Rhode Island

Personal credit isn’t the only requirement that goes into a payday loan. A possible lender in Rhode Island may additionally need to see your:

Proof of income

A lender may want to see that borrower has the means to pay back. For this reason, they could ask to see a proof of income, to show that the borrower has a steady flow of money that can be used to pay back the loan in a timely manner. Remember, when a lender is inspecting a possible borrower, they’re thinking about the loan in terms of risk to their business. If they think that the borrower is likely to be risky with repayment, they might not go forward with the loan. However don’t be discouraged. Even borrowers with poor credit might be able to get connected with a lender, as there are various lenders who do offer payday loans to people with less than good credit score.

Social Security number

A strong type of identification, a borrower’s Social Security number is a tool that some lenders will use to evaluate the borrower’s credentials further. It might help a lender get a fuller image of a borrower’s profile, which can be used to determine whether or not the borrower is qualified to receive a loan.

Proof of residency

You could notice a standard theme in these requirements. Payday loan lenders want to make sure that they know and understand anyone to whom they are lending cash. It’s a reasonable process since anybody lending money would need to know the one that is borrowing it as well as possible. Proof of residency is simply another tool that lenders might want to use when evaluating a potential borrower.

Checking account

Usually, if a borrower is approved and accepts a loan from a lender, the funds can be deposited directly into the borrower’s checking account. For that reason, many lenders might require potential borrowers to have an active checking account that can be used to receive the funds. It might also give a lender another glimpse into the financial trustworthiness of a potential borrower.


A lender may want to take multiple steps to make sure a potential borrower is who they are saying they’re. Because of this, some lenders ask for identification documents like:

  • a driver’s license
  • passport
  • state ID

Lenders might want to see these proofs because, for a lender, every loan they provide contains some form of risk for them. When they’re considering whether or not to approve a certain borrower, it is often because the lender is weighing the potential risk and deciding if it suits their qualifications.

What is the process of getting a payday loan in Rhode Island

The procedure of getting a payday loan is different from getting a loan from a bank or other financial institution. Banks may be less ready to work with borrowers who have bad credit. Whereas a payday-specific lender might require a potential borrower to have a checking account, in many cases, they have less strict requirements than banks themselves.

For borrowers in Rhode Island who need extra cash and don’t mind loan term with a relatively short repayment schedule and probably higher interest rates, a payday loan might be a choice to think about. However, it’s essential to keep in mind, even though there are payday lenders willing to work with a bad credit score borrowers, it’s nearly impossible to get a loan with no credit check.

Other loan options

If you need more than $2000 or a longer-term, these short-term loans may be better for your needs.

Installment loans. An installment loan is a loan that is repaid over time with a set number of scheduled payments. Each payment is known as an installment, which is why it’s called an installment loan.

Personal loans. Personal loans are a type of installment loan you can use for a variety of purposes, like rent or paying off unexpected expenses.

Cash advance loans. Cash advance loans are a short-term loan that is quickly funded to your bank account after approval. They are very similar to payday loans.

Legal Status of Payday Loans by State

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