Representative Example:
On an assumed loan amount of $400 over 3 months. Representative 4000%APR. 3 repayments of $230.63 = Total repayment amount $691.89
Need Payday Loans In Alabama? Apply Today
Whether you're in Birmingham, Huntsville, Montgomery or Mobile, Capital Bean can help you find the best payday loans in Alabama for your circumstances. We can help you borrow $300, $500 or $1,000 to make sure you get through your financial circumstances and you can receive the funds within just 60 minutes or the same day.
How To Apply For A Payday Loan in Alabama With Capital Bean
If you use our online application form you can get a decision in minutes – you no longer have to drive to a payday loans store and apply in person.
The application takes less than 5 minutes and when you apply you will need your basic details including the total amount you want to borrow and how many months you want to borrow it for.
You will also need personal information including your full name, your address, how much your monthly income is, total monthly expenses, and your bank account details. We need your bank account details so that we know where to send your cash.
Our application form is 100% online and we will use our wide network of lenders to find the best fit for you and your circumstances.
Step 1
Apply Online
Use our 100% free online form to apply in less than 5 minutes.
Step 2
Instant Decision
You will receive an instant decision on screen from one of our lending partners who will offer the best rates.
Step 3
Receive Money
You have already provided your bank account details so within 1 hour, the same day or the next business day you will get your funds.
Am I Eligible For A Payday Loan in Alabama?
You must meet the following criteria to apply for a payday loan in Alabama:
- A U.S citizen
- 18 years or older
- Minimum monthly income of $800
- Have a cell phone
- Able to afford monthly repayments
- We consider bad credit histories
- Have an open checking account to receive your money
Where Can I Find A Payday Loan in Alabama?
We provide payday loans in the top 10, top 20 and top 30 cities in Alabama. We work in:
- Huntsville
- Montgomery
- Birmingham
- Mobile
- Tuscaloosa
- Hoover
- Auburn
- Dothan
- Madison
- Decatur
- Florence
- Vestavia Hills
- Phenix City
- Prattville
- Gadsden
- Alabaster
- Opelika
- Northport
- Enterprise
- Daphne
- Athens
- Trussville
- Homewood
- Bessemer
- Pelham
- Fairhope
- Albertville
- Oxford
- Mountain Brook
- Foley
- Helena
- Anniston
- Prichard
- Cullman
- Selma
- Troy
- Tillmans Corner
- Calera
- Millbrook
- Muscle Shoals
- Hueytown
- Gardendale
- Saraland
- Center Point
- Gulf Shores
- Chelsea
- Scottsboro
- Talladega
- Hartselle
- Fort Payne
- Alexander City
- Jasper
- Ozark
- Moody
- Irondale
- Pell City
- Jacksonville
- Eufaula
- Sylacauga
- Leeds
- McCalla
- Russellville
- Valley
- Spanish Fort
- Clay
- Saks
- Boaz
- Rainbow City
- Meadowbrook
- Pike Road
- Fairfield
- Fultondale
- Pleasant Grove
- Southside
- Sheffield
- Tuscumbia
- Tuskegee
- Clanton
- Andalusia
- Guntersville
- Forestdale
- Atmore
- Arab
- Orange Beach
- Bay Minette
- Brook Highland
- Meridianville
- Greenville
- Montevallo
- Wetumpka
What Are The Regulations For Payday Loans in Alabama?
| Is It Legal In Alabama? | Yes |
| Maximum Borrowing Amount | $500 |
| Minimum Term | 10 days |
| Maximum Term | 31 days |
| Rollovers | 1 |
| Cooling-off period | Next business day after repayment |
| Installment Loans? | 4 equal installments |
| Charges | Not more than 17.5% of the amount advanced |
| Statute of Limitations | 6 years (from the last payment) |
| Database Loan Tracking | Yes |
Reference: NCSL
How Much Does a $500 Payday Loan in Alabama Cost?
If you were to borrow the maximum amount in Alabama (borrow $500) and borrow it for the maximum term (31 Days) and you get the maximum APR rate (456%) the total cost to repay would be $576.85. This is $76.85 in interest and a monthly interest rate of 38%.
Is A Payday Loan In Alabama The Right Product For Me?
Many of the borrowers that we work with use Capital Bean when they are facing a money emergency. This could be an unexpected expense, an unanticipated bill, or maybe to make some repairs around the house. Once you have been approved by our vast panel of lenders you could have the money in your bank account in less than one hour, the same business day, or within 24 hours. We even consider bad credit.
Capital Bean Helps Find A Payday Loan In Alabama With The Best Rates
- Rapid instant on-screen decision
- Flexible repayment options
- Options for those with poor or very bad credit repair
- Online loan request form to apply using your laptop or phone
Payday loans might not be the right solution for everyone and aren’t for every situation. If you are looking for extra money for shopping, eating out, or going for drinks, then payday loans are not the solution.
It’s also not the best way to solve a long-term financial challenge. Payday loans are for a short-term deficit in money and is borrowing to get you through to the next payday and then you can pay back your loan.
Make sure you read the terms and conditions before you apply for the loan. You need to make sure that you can afford the repayments month-to-month.
Look at how much you want to borrow and over what time period and then make sure you have enough extra money to pay back the loan each day.
If you miss a repayment then this might increase the amount of money you have to pay back and you might get penalties on the money you haven’t repaid. It could impact your credit score over the long run.
What Are The Repayment Terms Of A Payday Loan in Alabama?
The terms and conditions of your loan will vary depending on which lender you decide to work with. If you’re taking out a small loan ($1,000 or less) we find that the most common repayment time frame is two to four weeks.
If you borrow $1000 (up to $35,000) these payments are usually spread over a longer period of time. This could be anywhere up to 5 years that you’re making monthly loan repayments. If for any reason you struggle to pay back the loan amount this could impact the amount of interest you need to pay. This could also impact your credit rating in the long term.
Why Work With Capital Bean For A Payday Loan In Alabama?
Payday loans work best when you’re coming to the end of the month, or payday is a few days away, and you need some cash to tide you over to the next paycheck. You can work with Capital Bean to fill this gap – we’re here to help.
We all find ourselves in circumstances where we need to have a short-term boost to our finances and Capital Bean is ready when you are. Get an easy and quick payday loan anywhere in Alabama – our online application form takes less than 5 minutes to fill out and can be done 100% online.
Can I Get A Payday Loan In Alabama?
Before you apply for a loan you should make sure that you are eligible to apply for a loan. This is so that you don’t apply and get turned down for something that is in your control. To be eligible for a payday loan in Alabama there are four simple eligibility requirements:
- A resident of the US
- At least 18 years old
- Have a steady job that makes at least $800 per month
- You must have an active checking account where your payday loan can be paid into
What If I Have A Very Bad Credit Rating?
Never make the assumption that if you have bad credit you won’t be able to get a loan. All across Alabama, you can still find a payday loan even if you have been turned down by a credit union, bank or app in the past for your bad credit. (See loans for very bad credit)
Your credit score might have been impacted by a mistake in the past but we at Capital Bean believe you should always have another chance to redeem yourself and rebuild your financial history. Capital Bean works with borrowers from all backgrounds. Start today to get a payday loan in the most stress-free way.
How Fast Can I Get A Payday Loan?
Using our 100% online request form you will receive an instant decision from Capital Bean’s panel of partners. You will need to fill out a few questions but after this, you could get the funds in your account as same day loans, within 24 hours, or the next business day.
We know that this type of loan is urgent and most of our borrowers need the money quickly to make sure that they can pay off the debt that they are facing. We work with lenders that also understand this and so we make the process as quick as possible. You could then even have the money from the lender in your account in just an hour.
We want your loan request to go through as quickly as possible so make sure that you have your bank account details ready when completing the form. To increase the likelihood that you get an instant decision you should make sure to apply for your loan during regular business hours.
Also – once you’ve filled in the form make sure you keep your phone near you so that you can respond to any messages or requests the lender might send. Don’t leave your phone at home!
There’s a chance that the lender will get in touch with you to ask for more information or to clarify different parts of your application for a payday loan in Alabama.
How To Apply Online With Capital Bean Today
Click “Apply Now” to get started with the loan application process and see our 100% online form. You’ll need to answer some easy and quick questions about how much money you want to borrow and for how long you want to borrow it.
We will collect a few personal details about you including your monthly expenditure, your income, and your employment status. We know that you need emergency cash and so we will make the process as quick as we can.
FAQs
- How much does it cost to submit a payday loan request in Alabama?
- What's the maximum and minimum duration of a loan?
- Are you a direct lender or broker?
- If I have bad credit can I still get a payday loan?
- What's the maximum and minimum I can borrow
- How quickly can I get the funds through?
There are no fees to submit a payday loan request in Alabama working with Capital Bean.
At Capital Bean you can borrow to be repaid over a maximum period of 5 years. Some of our shortest loans are repaid in 2 weeks depending on the amount.
We are a broker. Capital Bean as a broker means that we will not pay you the funds directly but instead work with our panel of lenders to get you the best possible rate in Alabama. We will pass your details on to the lender that is best suited to your circumstances. This means the best interest rates and best repayment terms.
Absolutely yes. Capital Bean works with a wide range of people with different credit histories. This also includes those that have a bad credit history or score.
In Alabama payday loan amounts range from $100 to $35,000.
If you’re approved you could have the funds in as little as an hour. So if you’re looking to get money through on the same day then Capital Bean could be the right partner for you.
Where in Alabama Are We?
Some of our most popular areas are for payday loans Greenville AL, Selma and Mobile Alabama. We work across the whole of Alabama.
