Payday Loans in Arlington, Alabama

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No payday loan companies in Arlington, AL. Consider companies in other cities:

Company nameAddressZip codePhone number
Regions Bank 1116 Douglas Ave, Brewton, AL 36426 +1 (251) 212 - 6310
Advance America 3321 Lorna Rd #7, Hoover, AL 35216
Cash Mart Inc 2651 E South Blvd, Montgomery, AL 36116
Acceptance Loan Company, Inc. 1603 S Broad St STE C, Scottsboro, AL 35768 +1 (256) 574 - 4756
Peoples Bank of Alabama 10695 US Hwy 278 East, Holly Pond, AL 35083 +1 (256) 796 - 7977
East Alabama Credit Inc 3909 Pepperell Pkwy B, Opelika, AL 36801 +1 (334) 745 - 2510
Always Money 501 15th St E D, Tuscaloosa, AL 35401
1st Franklin Financial 42 Broad St, Alexander City, AL 35010
BB&T 253 S Union Ave, Ozark, AL 36360 +1 (334) 774 - 2646
First Jackson Bank 43243 US-72, Stevenson, AL 35772 +1 (256) 437 - 2107

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Arlington, AL, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Gadsden, AL, Same Day Loans in Homewood, AL, Payday Loans in Hoover, AL, Payday Loan Companies in Huntsville, AL, Payday Loans in Jasper, AL, Payday Loans in Madison, AL, Payday Loans in Mobile, AL and Bad Credit Loans in Montgomery, AL. But also, you can apply for a loan online, not coming out of your home. Just fill out a simple application on our website and we will connect you with trusted direct lenders in Arlington, AL.

Are Payday Loans Legal In Arlington, Alabama?

Loan Rates and Fees, Laws and Regulations in Alabama.

Alabama Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)456
Maximum Loan Amount$500
Minimum Loan Term10 days
Maximum Loan Term31 days
Number of Rollovers Allowed1
Finance Charges17.5% of the amount advanced

Arlington, AL payday loan calculator

Payday Loans in Arlington, Alabama

When it comes to managing finances, unexpected expenses can come up at any time. Whether it is a car repair, medical expense, or some other emergency, sudden bills can leave you struggling to pay for necessities. A payday loan can provide assistance in these situations. In Alabama, payday loans are legal and available to those in need. Here’s everything you need to know about taking out a payday loan in Arlington, Alabama.

How do Payday Loans Work?

Payday loans, also known as cash advances or paycheck advances, are short-term loans that typically have a repayment period of 14 days. The loan amounts are usually $500 or less and are based upon the borrower’s pay stubs or other proof of income. The borrower must write a postdated check for the loan amount plus any fees. The lender cashes the check on the due date, which is typically the borrower’s next payday.

Requirements to Qualify for a Payday Loan in Arlington, Alabama

To qualify for a payday loan in Arlington, Alabama, you must meet the following requirements:

  • Be at least 18 years of age
  • Have a valid government-issued ID
  • Show proof of income
  • Have an active checking account

It is important to note that you cannot have more than $500 in outstanding payday loans at one time in Alabama, and lenders may only charge up to 17.5% interest on the principal amount of the loan. Additionally, lenders are required to provide borrowers with a written agreement outlining the loan terms and conditions, including the exact amount due, interest rate, and repayment date.

Benefits of Payday Loans

Payday loans can be a helpful way to obtain short-term cash when you need it most. Here are some benefits to consider:

  • Quick access to funds – typically within one business day
  • Easier to qualify for compared to traditional loans
  • No collateral required
  • No credit check required in some cases

Concerns and Precautions

While payday loans can be a helpful solution in some cases, there are also concerns to be aware of. Here are some precautions to consider:

  • High interest rates and fees – it is important to understand the total cost of borrowing and make sure it is affordable for your budget
  • Risk of debt cycle – if the loan cannot be paid back on time, fees and interest can accumulate, and borrowing more money to cover the original loan can lead to a cycle of debt
  • Lack of regulation – some lenders may engage in predatory practices, making it important to thoroughly research and ensure the lender is reputable before agreeing to a loan

Interesting Facts and Statistics about Payday Loans in Arlington, Alabama

  • In 2020, Alabama payday loan borrowers had an average of 10 loans per year with an average loan size of $326 and an average APR of 276%.
  • Alabama has some of the most permissive payday loan laws in the country, with the maximum loan amount being $500 and the maximum loan term being 31 days.
  • Alabama payday lenders initiated more than 1.3 million transactions resulting in roughly $334 million in loan volume in 2018.

Apply Now

If you’re in need of short-term cash, a payday loan may be an option for you. The Guaranteed Loans offers a simple online application process to connect you with potential lenders. Fill out our online form with basic personal and financial information, and we will match you with the best available loan options. It’s important to remember that we are not a direct lender, but a connector service. Our goal is to help you find the right lender and get the funds you need quickly and easily.

F.A.Q.

What should I do if I can't repay my payday loan in Arlington, Alabama?

If you are unable to repay your payday loan in Arlington, Alabama, it is important to contact your lender as soon as possible to discuss your options. Depending on the lender and your individual circumstances, you may be able to negotiate a repayment plan or extend the due date of your loan. It is important to avoid defaulting on your loan, as this can have serious consequences, including damage to your credit score and potential legal action.

Are there any restrictions on the number of payday loans I can take out in Arlington, Alabama?

Yes, there are restrictions on the number of payday loans that a borrower can take out in Arlington, Alabama. Borrowers are only allowed to take out one payday loan at a time, and they must wait at least seven days before taking out another loan.