How to Apply for an Arrowhead Advance Loan in Simi Valley?
- Complete the online application on the Arrowhead Advance website, which should take about two minutes.
- Upon completing the form, a Verification Specialist will get in touch with you to go over your details.
- After getting approval, the funds will be transferred to your bank account on the following business day.
Conditions and Requirements
Conditions
- Short-Term Loans. Loans are aimed for short-term financial needs, not long-term solutions.
- Loan Quantity. Only one loan is allowed at a time per customer, and once repaid, customers may apply for another loan.
- Tribal Lender. The company operates under the laws and regulations of the Oglala Sioux Tribe and the Wakpamni Lake Community, meaning state laws, regulations, and interest rates don't apply to Arrowhead Advance or the Wakpamni Lake Community Corporation (WLCC).
Requirements
To qualify for a loan at Arrowhead Advance, the requirements include:
- Being 18 years of age or older.
- Being a U.S. resident.
- Having a valid Social Security Number (SSN).
- Having a current checking account.
- Earning at least $1,000 per month.
- Having a steady source of income.
- Not being an active servicemember or dependent of an active servicemember.
Important
How to Choose a Lender
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Make sure to confirm whether the lender is licensed to operate in your state. You can verify this information with your state regulator or attorney general.
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Check if the lender is a member of a reputable association, such as the Community Financial Services Association of America. Membership in such organizations may provide an extra level of reliability.
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Carefully review all the terms and conditions of your payday loan contract.
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Thoroughly examine the interest rates on payday loans and ensure that your contract includes a detailed breakdown of the total cost of the loan.
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Take advantage of your right of rescission. Usually, you can rescind the loan within three days after signing the agreement. Alternatively, there is typically a "cooling-off" period, which allows you several days to thoroughly review the contract before making an informed decision to enter into a consumer loan agreement based on the terms specified by the lender.
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Choosing a payday lender is a significant decision that demands careful consideration and a good understanding of how such organizations operate.
