Payday Loans in Reeves County

Hermosa Loans works with Texans throughout the state. If you’re a Reeves County resident, we invite you to complete an online loan request.

Request Short-Term Loans and Long-Term Installment Loans in Reeves County, Texas

Whether you are looking to borrow a short or long-term loan, Hermosa Loans is here to help.
A short-term loan

is also known as a payday loan or cash advance. These are small-order loans that are usually repaid in a lump sum within two weeks.

A long-term loan,

or installment loan, is a larger sum loan. Installment loans are repaid in equal monthly payments over a period of time. These loans are usually repaid within six to 12 months, depending on the borrowed amount.

Auto Title Loan

A title loan is a secured loan that can be used as an alternative to payday loans. The borrower uses their vehicle’s title as collateral to secure the title loan. The loan term depends on the amount borrowed. For example, Reeves County residents may get around 25% to 50% of their vehicle’s value. If the loan applicant defaults on their title loan, the lender may legally repossess the car.

To request a title loan, the lender may ask for the following documents:

Government-issued ID Lien-free car title Bank account Proof of residency

How Much Can I Borrow in Reeves County, Texas?

In the state of Texas, Hermosa Loans operates as a loan request service. We are not a loan provider, and the payday lending decision is not up to us. Instead, we work with consumers to connect them to lenders who may be willing to offer short and long-term loans. Ultimately, the borrower’s eligibility for a loan is at the lender’s discretion.

  • The Texas Office of Consumer Credit Commissioner (OCCC) regulates the payday loan industry in Texas, and payday loan companies must follow the rules and regulations of the OCCC.
  • According to Texas state law, Reeves County residents can repay their loans between seven and 180 days. The APR is not stated and depends on the lender and borrowed amount. Keep in mind that borrowers with lower credit scores may have to pay higher interest rates.
  • According to city law, Reeves County residents cannot borrow payday loans that surpass 20% of their gross monthly income. On the other hand, they can renew or rollover their loans up to three times.
  • Moreover, installment loans should be repaid in four equal payments. As a result, each payment must be 25% of the principal amount.

How to Qualify for a Payday Loan in Reeves County, Texas?

Before requesting an online loan from our website, ensure that you meet the basic requirements to qualify for a loan in Reeves County. Applicants must:

Be a Texas resident

Be at least 18 years of age

Have a steady source of income

Have a checking account

I Was Qualified for a Loan; Now What?

Upon collection of your payday loan from the lender, you may be able to use the cash to cover emergency expenses, such as:
Unexpected bills
Medical bills
Debt consolidation
Credit card bill
Car repairs
Home repairs

Note that lenders may use your personal information to verify your identity and perform a credit check through a credit bureau.

How Do I Pay Back My Loan in Reeves County, Texas?

Hermosa Loans is not a direct lender. Therefore, borrowers don't make any payments to us. Instead, we aim to connect you with lenders in our network that may offer you several repayment options.

  • The preferred repayment method for payday loans in Reeves County is an automatic withdrawal from the borrower’s checking account. Although rare, you may be able to repay your loan using post-dated checks, a debit card, or cash payment.

Request up to $5,000 Now

Hermosa Loans works with a vast network of lenders and may offer more loan options to borrowers.
If you are searching for a short or long-term loan, complete our request form to connect with a lender who may be willing to work with you.

Frequently Asked Questions

What are the requirements to qualify for a loan in Reeves County?

While each lender will set its own requirements, they'll typically ask for financial and personal documents. This information includes proof of steady income, identity verification documents like a government-issued ID, proof of a checking account, and fair to good credit standing. Moreover, the lenders will require that the applicant be at least 18 years old and a resident of Texas.

What's the APR for a short-term loan?

Typically, APR is around 400% to 500% in Reeves County. However, the rate can be higher based on the borrower's credit score, income, and credit history. Most often, borrowers with lower scores will have higher interest rates, and borrowers with higher scores may enjoy lower rates.

Does Hermosa Loans provide title loans in Reeves County, TX?

Currently, Hermosa Loans does not connect consumers to title loan lenders. Instead, Hermosa Loans may be able to connect eligible consumers to lenders who may offer them short-term and long-term loans. Your options may include cash advances, payday loans, or installment loans.

What's the maximum number of loans I can have at the same time?

Reeves County doesn't specify how many outstanding loans a borrower can have at one time. To be on the safe side, it is best to only take out one loan at a time. Having multiple loans simultaneously can cause you to incur more debt and negatively affect your credit score.

What's the minimum loan term?

The minimum loan term in Reeves County is seven days, and the maximum is 180 days.