With typical loans throughout St. Louis (and Missouri in general), pulling your credit is an essential part of getting a loan. With cash advances and other forms of payday loans, your credit isn’t used as a consideration--Instead, your paycheck (net and gross pay) coupled with your job stability is the basis for a cash advance.

In recent years, the entire payday loan industry has flourished in the city, with over 250 storefront lenders, partially due to the increased percentage of Americans living from paycheck to paycheck. cash advances are short term loans (usually under a month) with a low balance (usually under $1,000) that’s payable in one lump sum. Cash advances are usually approved much faster than conventional loans, within hours instead of days.

Apply for a St. Louis Quick Cash Advance NOW >>

Let’s say that your car broke down and was going to cost $400 to repair. This week, you don’t have the extra cash floating around, but you know that you’ll have the extra money in your next paycheck, which, unfortunately, isn't going to arrive until next Thursday. If you don’t have your car, you won’t be able to get to and from work, causing you to lose money and possibly even your job. This is an ideal situation to utilize a cash advance.

Missouri has several laws in place regarding the payday loan industry meant to protect all involved parties:

Loan must be written for 14-31 days.
No more than 6 total rollovers allowed (paying one cash advance loan off with another), with the principal amount decreasing by at least 5% each time.
Fees (for the entire duration of the loan, including all rollovers) cannot exceed 75% of borrowed amount.
Applicable bounced check fees and court costs will apply should the personal check be returned for insufficient funds.

Apply for a St. Louis Quick Cash Advance NOW >>

* Cash-Advance-USA.org provides information and research on cash advances/payday loans. We are not a payday lender or broker, nor are we necessarily affiliated with the companies profiled on this site. Not all products and services are available in each state.