Payday Loans in Boligee, Alabama

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

Company nameAddressZip codePhone number
NobleBank & Trust 646 Valley Cub Dr, Alexandria, AL 36250 +1 (256) 847 - 2810
Pioneer Credit Co 115 2nd Ave SE, Hamilton, AL 35570 +1 (205) 921 - 7919
Regions Bank 22070 AL-59, Robertsdale, AL 36567 +1 (251) 213 - 2180
Approved Cash 1105 7th St S, Clanton, AL 35045
Turner Automotive Inc 2262 E Main St, Montrose, Colorado +1 (970) 249 - 6691
Liberty Tax and Loans 1928 Quintard Ave, Anniston, AL 36201 +1 (256) 237 - 4735
1st Franklin Financial 980 N Brindlee Mountain Pkwy, Arab, AL 35016
Quality First Financial Inc. 12835 US-231, Hazel Green, AL 35750 +1 (256) 828 - 4745
FNB Bank 4968 Tammy Little Dr, Section, AL 35771 +1 (256) 228 - 4288
Clanton Financial Services Inc 220 7th St S, Clanton, AL 35045 +1 (205) 755 - 8034

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Boligee, AL, you can try to find different companies in big cities near by. Check out the following pages here: Quick Loan in Gadsden, AL, Payday Loan Companies in Homewood, AL, Payday Loans in Hoover, AL, Same Day Loans in Huntsville, AL, Quick Loan in Jasper, AL, Payday Loans in Madison, AL, Payday Loans in Mobile, AL and Payday 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 Boligee, AL.

Payday Loans Available in Boligee, AL By The Following ZIP Codes:

35443

Are Payday Loans Legal In Boligee, 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

Boligee, AL payday loan calculator

Are you struggling to make ends meet in Boligee, Alabama? Do you need quick cash to cover unexpected expenses, but don’t want to deal with the long approval process of traditional loans? If so, payday loans may be a viable option for you. In Alabama, payday loans are legal with certain regulations in place to protect borrowers. In this article, we’ll provide a comprehensive guide to payday loans in Boligee, Alabama, including how they work, their benefits and drawbacks, and important regulations you need to know.

What are Payday Loans?

Payday loans are short-term loans that usually have a repayment term of two weeks, or until the borrower’s next paycheck. These loans are designed to help people cover emergency expenses, such as medical bills, car repairs, or other unexpected costs that may arise between paychecks. To obtain a payday loan, borrowers must usually provide proof of income and a valid form of identification, such as a driver’s license.

The Benefits and Drawbacks of Payday Loans

Like any financial product, payday loans have both benefits and drawbacks to consider. Some of the benefits of payday loans include:

  • Quick and easy application process
  • No credit check required
  • Cash can be obtained as soon as the same day

On the other hand, some of the drawbacks of payday loans include:

  • High interest rates and fees
  • Short repayment terms
  • Risk of getting trapped in a cycle of debt

Regulations of Payday Loans in Boligee, Alabama

Payday loans in Alabama are legal with certain regulations in place to protect borrowers from abusive lending practices. The maximum loan amount allowed is $500, and the loan term cannot exceed 31 days. Lenders are prohibited from charging more than 17.5% interest on the loan, which equates to an APR of 456% for a 14-day loan. Additionally, borrowers are only allowed to take out one loan at a time, and are required to wait at least one business day after repaying a loan before they can take out another one.

Facts and Statistics about Payday Loans in Boligee, Alabama

According to recent data from the Alabama State Banking Department, payday loans remain a popular financial product in Boligee. In 2019, there were approximately 5,800 payday loans issued in Boligee, with a total loan amount of $2.1 million. The average loan amount was $363, and the average APR was 310%. Of these loans, approximately 25% were rolled over into new loans, indicating that many borrowers struggle to repay the loans on time.

Apply Now with TheGuaranteedLoans

If you’re considering a payday loan in Boligee, Alabama, TheGuaranteedLoans can help you connect with potential lenders. Our online application process is quick and easy, and you can get the cash you need deposited directly into your bank account as soon as the next business day. Please note that TheGuaranteedLoans is a connector service, not a direct lender. We work with a network of trusted lenders to help you find the loan that’s right for you. Apply now to get started!

F.A.Q.

What is the interest rate on a payday loan in Boligee, Alabama?

The interest rate on a payday loan in Boligee, Alabama is capped at 17.5% per month, which is equivalent to an annual percentage rate (APR) of 210%.

How long do I have to repay a payday loan in Boligee, Alabama?

in Boligee, Alabama, the minimum repayment period for a payday loan is 10 days, and the maximum repayment period is 31 days.