Connecticut Payday Loans
Posted on Sunday, July 12th, 2009 at 2:47 pm in Cash Loan Info by State
Sometimes you might need emergency cash to fulfill some tedious social obligation like exorbitant college fees for your kids or you might need this cash for emergency repair for your home or car. The payday loans are short term loans which are meant to keep you financially afloat till you get your next salary. You might have to spend sleepless nights thinking that your kid’s admission to college might get stalled if you can’t arrange the sum of money or fretting that you might miss your important business meeting if you can’t repair your car. All these hassles can be taken care of in a jiffy with fast payday loans in Connecticut.
The state of Connecticut keeps a watch on payday lenders operating in the state in the two-pronged manner. First of all, the law requires businesses to acquire a license to deposit cash check into people’s accounts. Apart from this, it also restricts the fee that can be levied for deferred check to a minimum amount. The process of acquiring a business license for depositing check in people’s accounts in Connecticut is also quite cumbersome. For such a business license, a lender has to pay $250 fee and apply for a license with a commissioner.
The applicant has to furbish all the contact details to the commissioner, who decides whether the business would be of good community service before he grants a license. The commissioner would also ensure that the business man has a minimum liquid asset of $10,000 for every outlet that it opens. These stringent regulations have made it a bit difficult for payday loan lenders to operate from Connecticut. However, some agencies still cash advance loans and payday loans to people of Connecticut despite all odds.
Despite legal and other hindrances in Connecticut against payday loans, you can still find some reputed payday loan companies operating. The best part of taking these payday loans from the Connecticut lenders is that often you don’t have to go to the lending agencies yourself. By furbishing your employment and residential details online, you can apply for these instant cash loans with just a click of a mouse and avail a loan for about 15-30 days till you get your next salary.
That is why these instant payday loans available in Connecticut are often referred as “no fax” loans, which means that you don’t have to take the trouble of faxing loads of legal documents to your banker to receive the payday loan.
3 Easy Steps to Get Your Quick Cash
Complete the short form.
Receive your approval and confirm loan.
Cash deposited into your account.