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Securing Emergency Cash in Texas

Home to over 30 million people, Texas is the second-largest state in terms of both population and geography. Unfortunately, though, roughly 4.2 million of those residents live in poverty. And with the rising cost of living throughout the state, it's becoming harder to keep up with the bills or handle emergency expenses like car repairs.

But there is good news for Texans needing quick cash:

You can get online loans to help you through tough times. Many emergency cash loans also come with minimal loan requirements and same or next-day funding, making them convenient when you need money now.

If you’re dealing with a financial crisis and need funds quickly, here are your options in Texas.

Are Online Loans a Better Option?

Generally speaking, online loans are safe. They’re also more accessible than many other financing options. This is because you can typically complete the entire loan application process online and receive funds directly to your bank account.

That said, there are several things to consider before applying for personal loans online:

  • You’re sharing sensitive information online. Unlike many brick-and-mortar lenders, online lenders require you to share sensitive personal and financial data over the Internet. If your internet connection lacks protection or the lender does not have digital security measures in place, your data could be intercepted. For this reason, make sure you use a private internet connection. Also, look for online lenders with an encrypted website, two-factor authentication, and a secure URL — often identified by “HTTPS” as part of their domain name.
  • There are many types of online lenders. Many financial institutions, like traditional banks, credit unions, and alternative private lenders, offer emergency loans online. The type of lender you choose is ultimately up to you, but you should still research legitimate lenders.
  • Not all online lenders are licensed in Texas. When shopping around for online loans, make sure any lender you choose is registered and legally allowed to offer loans in your state. Check with your state’s banking regulator to determine whether the lender is legitimate.
  • Online reviews can help you identify a legitimate lender. Before settling on a lender, check out their overall reputation, particularly regarding their lending practices and reputation for resolving customer complaints. Reputable sites like the Better Business Bureau (BBB) and Trustpilot are good places to start.
  • Scammers are out there. While many online lenders legitimately offer bad credit or online cash loans, watch out for scams. If a lender tries to pressure you into accepting a loan or requires you to pay before receiving funds, you may want to steer clear. If the lender lacks transparency, it might be better to look elsewhere.

Carefully vet any lender before sharing sensitive information or completing an application. And, as with any personal loan, it’s best to read through any loan agreement documents before signing anything.

Why Jora Credit?

We are a state-licensed, direct lender providing online loans that give you access to the funds you need.
It’s easy to apply right from your phone, laptop or tablet – anywhere, anytime. And it only takes a couple minutes.
Plus, there's no prepayment fees if you want to pay off early and save some money one interest.
Accept your loan by 10:30 am Central time (Monday - Friday excluding holidays) and you can get your funds on the same day.*
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Can I Get an Online Loan in Texas?

You can get online loans in the Lone Star State.

If you’re looking for a traditional lending option, consider a brick-and-mortar bank or credit union with an online lending process. Keep in mind that these lenders often have stricter loan requirements than alternative lenders online. It may also take longer to complete the application process and receive the funds you need, especially if there’s an in-person component.

Another option is to go with a direct online lender like Jora. These lenders specialize in online loans and usually have a streamlined application process. Oftentimes, they also have quicker approval and funding times than traditional options. Interest rates, fees, loan amounts, and loan requirements vary by lender.

Types of Online Loans

Here are the main types of online loans in Texas:

  • Peer-to-Peer (P2P) loans: P2P lending cuts out the middleman — typically a bank or other financial institution — and connects individual borrowers to investors. This may be a good option if you cannot qualify for traditional personal loans. Each investor has their own loan requirements, rates, and terms.
  • Payday Loans: As a type of no-credit-check loan, payday loans are unsecured loans you can get online or in person. While easy to get, these loans typically come with a short repayment period of 2-4 weeks, making them tricky to repay on time.
  • Title Loans: Some lenders offer online title loans, though you may need to go in person to complete the lending process. These loans often do not require a credit check, so some people consider them bad credit loans. However, you will need to use your vehicle as collateral for funds. The lender could seize your vehicle if you do not repay what you owe.
  • Installment Loans: These are personal loans you can get online. Most installment loans are unsecured, meaning they do not require collateral. Jora offers installment loans to borrowers with bad credit. If you apply and are approved before 10:30 am CST on a non-holiday weekday, you could receive the funds in your bank account that day.*
Requirements for an Online Loan in Texas

Although every lender has different loan requirements, here are the standard ones for online loans in Texas:

  • Credit Score: Jora and many other online lenders check your credit as part of the application process. Even with poor credit, you could still qualify for a loan if you meet the lender’s income and other requirements.
  • Income: You must show some form of income to qualify for cash loans online. Be prepared to provide copies of W-2s, bank statements, or recent tax returns.
  • Residence: If you’re applying for personal loans in Texas, you’ll typically need to be a resident of the state to qualify. Some lenders may ask for proof of residency, such as a rental agreement or utility bill in your name.
  • Proof of Identity: You’ll need to be 18 or older to get a loan online in Texas. A lender may use your driver’s license or another government-issued ID to verify your identity and age.
  • Bank Account: For online loans, you’ll usually need a checking account to receive funds.
  • Debt-to-Income (DTI) Ratio: This refers to the percentage of your gross income that goes toward your debts. Some lenders prefer to work with borrowers with a low DTI ratio.

Check out Jora’s resource center for more information about loans and credit.

How to Apply for Online Loans in Texas

The application process varies by lender, but here’s how to apply with Jora:

  1. Calculate how much you need to borrow. Whether you need the money for car repairs, medical bills, or other expenses, knowing exactly how much you need is essential. You can use an online loan calculator to determine how much the loan will cost and whether you can afford payments.
  2. Fill out and submit the application. It only takes a few minutes to complete Jora’s free loan application. Be prepared to submit some basic personal and financial information. Once you submit your application, you’ll typically get credit decision within minutes.
  3. Receive funds. Jora considers your credit score, income, and other factors for a credit decision. Once approved, you can receive the funds in your bank account as soon as the same business banking day*.
  4. Use the loan and start making payments. You can use the funds for nearly anything you need. Be prepared to start making loan payments as indicated in the loan agreement. Depending on your financial situation, you could pay off the loan early without penalty to save on interest.