If you need emergency cash in California, Mypaydayloan.com is here to help. Wondering if you can get $255.00 payday loans from us? Get all the answers you need in this guide and see why you should pick My PaydayLoan.com for payday loans in California.
$255.00 payday loans are only issued in California, due to legal restrictions on the activities of payday lenders. Under California Payday Loan Law, you can borrow a maximum of $300, and lenders can charge you a maximum of 15% of the total loan amount as a fee. This means that the effective limit that you can borrow is $255.00 – because you’ll get $255 as a loan, and you’ll have to repay $300, including a $45 fee. Because of this limitation, $255.00 payday loans are the most common type of payday loan in the state, and most payday loan offices in California offer $255.00 payday loans.
The limit is due to the California Payday Loan Law which was enacted to protect California residents from predatory lending by payday lenders. This law was first enacted in 1996 and set forth in SB 1959.
The terms and regulations set forth in this law have not changed very much in the following years. Though the upcoming rules could impact lenders in California, as well as the rest of the nation. While these regulations may be good for some customers, it does mean that it’s harder to get the cash you need in California with a payday loan, particularly if you need a larger amount of money for your loan.
No. We do not offer $255.00 payday loans in California. However, we can offer payday loans of between $200-$1,000 in California, we can provide loans up to the maximum value of $300 (minus applicable service charges.)
At Mypaydayloan.com, we give you more flexibility. Not only can you apply for our payday loans and cash advances entirely online, but we provide loans of between 14-30 days depending on your pay period, and we offer early repayment for customers who would like to pay their loans early and save money on fees. As a member of the Online Lenders Alliance, you can trust Mypaydayloan.com to provide you with great customer service and to provide you with the cash you need in California.
While we do not offer $255.00 payday loans at Mypaydayloan.com, we can provide you with a cash loan of $200, $300, $400, $500, $600 or more, depending on our finance charges and your qualifications.
We have simple loan requirements, we are a direct lender, do not require traditional credit checks, and can deposit your funds into your bank account as soon as the next business day or same-day If requested, making it fast, easy, and convenient to get payday loans in California. Apply today – and if you have any questions about our application process and our payday loans, just take a look at our FAQs, or feel free to contact our customer service team.