Bonham is a small city in the north of Texas and south of Oklahoma. Bonham has a population of around 10500 people and has a rich history that dates back to 1836 in the Battle of the Alamo, when the city was formed. But the city has seen remarkable growth after connecting to the Texas and Pacific Railway and has seen many infrastructures like schools, colleges and hospitals being built. The city is an industry-based economy with a reliance on heavy industry and mining among top employers. Bonham also has a hot and humid climate that permits plantation, and many of the city dwellers are also engaged in farming.
Being a small city, covid-19 had some severe effect on Bonham and have seen many people struggle to keep up with their ever-increasing expenses. Unfortunately, on 24th April 2020, the city of Bonham was hit by a cyclone and devastated many houses and further increased the suffering of the people. Many required urgent money to fix their homes or to buy supplies for emergency needs. But not everyone had the privilege to get loan approvals because of bad credit scores. That is why lenders have introduced instant payday loans that require no credit check and can be approved without the need to pledge any collateral. This is why payday loans have been the loan of choice of over 12 million Americans in 2021 alone.
Requirements for the payday loan approval in Bonham
Despite the fact that lenders do not do thorough credit checks, they still need to ensure that you will repay the loan on time thus, there are certain fundamental prerequisites for qualifying for a payday loan. Although not all lenders have the exact requirements, overall, you are most likely qualified for an instant payday loan if you fulfill these requirements.
- Have a steady stream of money ( this can be your fixed salary, any compensation you get, or any rental income you have)
- You must be at least 18 years old and a United States citizen.
- Keep a bank account where the cash will be deposited if the loan is approved.
The loan amount varies for each lender, but it commonly ranges from $100 to $1500 to be paid back over the course of a week to a month. If you are unable to pay off your debts on time, reputable lenders may grant you a loan extension to assist you in repaying your debts.