Seattle Cash Advance (WA)
For many families living in and around Seattle, living from paycheck to paycheck is not an option. Even the smallest unexpected emergency can be financially devastating. It’s for this reason that many residents that are looking for a short term solution to a financial problem turn to cash advances and other forms of payday loans to help them out until their next paycheck arrives. With more than 450 storefronts throughout the city (plus the countless amount of Internet sites), it’s easier than ever to get the much needed cash when you need it.
A cash advance is a relatively small (usually under $1000), single payment, short-term loan that is usually due to the lender on your next payday. The money usually becomes available to you within 24 hours, instead of the days it can take through a traditional lending institution.
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Let’s say that your car breaks down and it’s going to cost $500 to fix, but you don’t have the cash at this very moment. Next Friday is when you would have the cash for the necessary repairs, because that is when you receive your next paycheck. As a resident of Washington, you can easily get a cash advance without a credit check or other hassle. All you need is a job and the paycheck to go along with it. Some lenders may require you to have direct deposit with your employer in order to maintain their speedy process.
Washington has some cash advance and payday lending laws protecting both consumers and lenders alike:
- Maximum loan term of 45 days.
- Fees cannot exceed 15% for the first $500 of a loan, or $15 for each $100 borrowed, and 10% for the next $200, or $10 per hundred for loans that are > $501.
- One $25 check returned fee is permitted.
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* 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.
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