From LA to San Francisco, we can help you find the most suitable payday loan in California for your needs!
We can help you borrow $300, $500 or $1,000 to help tide you over and you can receive the funds in 1 hour, 24 hours or the next business day – and we have a number of options available for people with bad credit.
Representative Example:
On an assumed loan amount of $300 over 2 months. Representative 369% APR. Total repayment amount $442.52 and total interest is $142.52. 2 monthly payments of $222.26
Capital Bean can help you gain quick access to funds if you need fast cash in between paychecks. Whether it is emergency medical care, an unexpected car repair or a burst pipe, there are many reasons why you might need quick access to funds.
Our online services are quick and easy to use and can help you find a payday loan in California. Apply today and get a decision in a matter of minutes! One of our most popular services are for residents who need a payday advance Los Angeles to get them through to the next payday.
Yes – we work with direct lenders who will lend to borrowers with bad credit. With Capital Bean we will consider all types of credit history and if you have had credit issues in the past you can still apply. We work with a panel of lenders who specialize in helping those turned down for a loan.
Our lenders consider a range of factors including how much you want to borrow, for how long, your employment status, your monthly income and any other outstanding loans or debts. Capital Bean does consider borrowers who are looking for a no credit check loan but most of the lenders on our panel do require a credit history check.
Capital Bean was set up to help you find a payday loan lender in any major city or town across California. We are a loans connection service which means that we work with a wide range of lenders to find the right loan for you. Our application process is 100% online which means that you get an instant decision and could have the money in your account the same day.
We know that going to lenders on the high street one by one is time-consuming and is not efficient. Through our online application form you can compare multiple lenders and find a quote that is most competitive.
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To be eligible for a payday loan you must be:
Resident in the U.S.
18 Years Or Older
Have a steady paycheck and employment
Earning at least $800 per month
Working cell phone
An active checking account for your loan to be sent to
San Diego, San Francisco and Los Angeles loans included
| Legal Status | Legal |
|
Interest Rate (APR)
|
460% but 369% was the average in 2019
|
|
Maximum Loan Amount
|
$300 |
|
Minimum Loan Term
|
Not Specified |
|
Maximum Loan Term
|
31 days |
|
Number of Rollovers
|
0 |
|
Number of Outstanding Loans
|
1 |
|
Cooling-off Period
|
None |
| Installment | No |
|
Finance Charges
|
$17.64 per $100.00
15% of the amount advanced (up to $45) |
|
Statute of Limitations
|
4 years (from the last payment)
|
|
Database Loan Tracking
|
No |
Reference: State of California Department of Justice
We work with all different types of borrowers and what usually unites them is that they need loans for emergencies to get through some sort of financial emergency. That emergency could be that your car breaks down, you have a burst pipe at home or an unexpected medical expense. After you get approved by our panel of lenders you could have the money in your account in less than 60 minutes!
Capital Bean helps people in California find the best payday loan option that works for their circumstances.
We would not suggest payday loans for everyone. If you want some extra spending money to buy clothing, or go out for drinks with friends, then a payday loan is not the right solution. It is also not the right solution if you are facing long-term financial problems. There are much better options for this. A payday loan is for a short-term emergency expense that needs to be paid fast.
Before you take out a payday loan make sure to look closely at the terms and conditions that a lender puts in front of you. You should pay close attention to whether you can afford to pay back the loan that you have requested – will the repayments fit into your budget each month?
If you miss a payment or fail to pay back your loan for any reason then you will have to pay penalties – this could be extra interest and it could also impact your credit score.
Payday loans are legal in California. State law imposes a limit of $300 for payday loans offered in-state and loans cannot be taken out for periods longer than 31 days. The maximum finance charge is 15% for every $100 with a maximum interest rate of 460% APR. Lenders are not permitted to apply extra charges for loan extensions and are not allowed to give rollovers. There are no cool-off periods between 2 consecutive loans and state law permits only one outstanding loan.
This is a representative example of a $100 payday loan. The real terms may differ. If you were to borrow $100 in California at the maximum APR rate of 460% over the maximum duration, 31 days, with finance charges of $17.64, the total cost would be $133.08. This works out as a monthly interest rate of 38%.
Depending on which lender you work with will determine the terms and conditions of the loan. If you want to take out what is defined as a small loan ($1,000 or less) then we find that borrowers will typically repay their loan within two to four weeks.
If you are taking out a larger loan – over $1,000 and up to $35,000 then you will typically pay back this money over a longer period of time. Depending on the lender that you choose this could mean that you are making repayments for up to 5 years.
If for any reason you can’t pay back your monthly payment then this could have an impact on how much interest you have to pay and could hurt your credit score and rating over the long term.
Get started today by clicking on the ‘Apply Now’ button below. This will take you straight to the 100% online form where you can answer some simple questions about how much you want to borrow and for how many months. You will also be asked for a few personal details including your income, monthly expenditure, and employment status.
Payday loan amounts range from $100 to $35,000 although California state law prohibits loans of more than $300.
In California, individuals are restricted to having a single payday loan at any given time, which must be paid back entirely before they can apply for a new one. As a result, borrowers are prohibited from obtaining a loan to repay an existing one.
While not all payday lenders will contact your employer, some may choose to do so. Specific lenders may instead rely on more conventional means of verifying your identity, such as requesting statements, payslips, and bills.
There are no fees to submit a payday loan request in California via Capital Bean’s online application service.
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.
Capital Bean is a place you can trust for good money advice. We've helped many people with their money needs in the past. At Capital Bean, our main goal is to help you understand and grow your money. Whether you're curious about how to save, use credit cards, or get personal loans, we're here to guide you.
A Little About Capital Bean
Started in 2021, we've provided financial help to more than 275,000 people. If you're among the many Americans facing money challenges, Capital Bean's online loans might be the solution you need. Our online application is simple and hassle-free. No more standing in lines or dealing with tons of papers. Just apply from your home, and you could get the money on the same day* if everything goes right. Start with a trusted financial choice today.
Unexpected costs shouldn't mess up your budget. Try an online loan with Capital Bean today and see how we can help.
© 2024 Capital Bean. All Rights Reserved.
Contact Us
1-865-884-6510
info@capitalbean.com
7073 Cedarwood Drive, Los Angeles, CA 90006, United States
* Not every loan application gets approved. The decision and loan conditions depend on your credit check and local laws. If you get approval before 10:30 a.m. CT from Monday to Friday, you'll usually get the funds that same day. If it's after this time, expect the funds the following business day. If we need more information to check your application, and it's approved afterward, the funds will be given the next business day after we complete the checks.
† Regarding the Military Lending Act (MLA): Capital Bean doesn't provide loans to those covered by the MLA since all loans we make or organize surpass the MLA's 36% MAPR cap. We check with a national consumer reporting agency to see if someone is covered by the MLA. We also pose the mentioned question to double-check and fully adhere to MLA guidelines.
According to the MLA, a "servicemember" usually refers to someone who is a regular or reserve member of the Army, Navy, Marine Corps, Air Force, or Coast Guard. They should be on active duty under an order that isn't just for a short span of less than 30 days. On the other hand, a "dependent" typically means a servicemember's spouse, a child below 18 years old, or any person who received over half of their financial support from the servicemember in the recent 180 days.
To see if you fall under the MLA, you can make a one-time request on the official MLA website.
Loan Disumbersement - If your application is approved before 10:30 a.m. CT from Monday to Friday, you'll usually receive your funds on that day. If it's approved after that time, expect your funds the following work day. If we need more time to double-check your application details and it's eventually approved, you'll receive your loan the business day after we finish the additional checks.
High-Cost Disclosure: Loans from Capital Bean come with a high APR, making them unsuitable for long-term financial plans. Most of the time, these loans also come with an origination fee that you won't get back if you decide to pay off the loan early. Ensure the loan you pick fits your financial needs and repayment capability. Think about the loan's amount, duration, and the charges involved. If you opt for a loan with high interest, you can lower the overall charges by paying more than just the minimum due. If you pay late, it will cost you more, and you might get a late fee. If you're facing credit issues, consider seeking advice on managing your credit. For useful tools and info on understanding finances, trends in credit scores, and financial terms, check the Resources section on our website at www.capitalbean.com
