Payday Loans in Capshaw, Alabama

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

Company nameAddressZip codePhone number
1st Franklin Financial 102 Micah Way Suite 1101, Scottsboro, AL 35769
Citizens Finance of Fort Payne, Inc. 227 Glenn Blvd SW, Fort Payne, AL 35967 +1 (256) 845 - 2698
Check Into Cash 720 Quintard Ave Ste A, Anniston, AL 36201 +1 (256) 238 - 1209
Cash Express 1814 Beltline Rd SW, Decatur, AL 35601
1st Franklin Financial 1696 U.S. Hwy 231, Suite A, Ozark, AL 36360
Haleyville Loan Co 901 19th St, Haleyville, AL 35565 +1 (205) 486 - 7429
Cash America Pawn 1441 Forestdale Blvd, Birmingham, AL 35214 +1 (205) 798 - 2274
Republic Finance 946 Gilbert Ferry Rd SE, Attalla, AL 35954 +1 (256) 538 - 1390
Liberty Finance 225 Bexar Ave E STE D, Hamilton, AL 35570 +1 (205) 921 - 0040
World Finance 326 E Barbour St # C, Eufaula, AL 36027

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Capshaw, AL, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Alabaster, AL, Payday Loan for Albertville, AL, Payday Loan Companies in Anniston, AL, Payday Loans in Athens, AL, Payday Loan Companies in Atmore, AL, Payday Loans in Auburn, AL, Payday Loans in Bessemer, AL and Short-term Loans in Birmingham, 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 Capshaw, AL.

Are Payday Loans Legal In Capshaw, 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

Capshaw, AL payday loan calculator

Understanding Payday Loans in Capshaw, Alabama

Payday loans have become increasingly popular in recent years, particularly in states where they are legal. These loans are seen as a quick and accessible way to get cash when you need it most. In this article, we will discuss the ins and outs of payday loans in Capshaw, Alabama – what they are, how they work, and what you need to know before borrowing.

What are payday loans?

A payday loan is a short-term loan that can be taken out by an individual who needs to borrow a small amount of money quickly. These loans are designed to be repaid in full by the borrower’s next paycheck, hence the name “payday loan”. In Capshaw, Alabama, payday loans are legal, and there are many lenders who offer this type of loan to those who need it.

How do payday loans work?

The process of obtaining a payday loan in Capshaw, Alabama is relatively straightforward. First, the borrower must provide proof of income, such as a pay stub. Additionally, they must provide proof of identification and have an active bank account. Once approved, they will receive the loan amount, which is typically $500 or less, directly into their bank account within a few days.

When the loan comes due, the lender will withdraw the loan amount plus fees and interest from the borrower’s bank account. If the borrower is unable to repay the loan, they may be subject to additional fees and penalties, which can make the loans even more expensive than they already are.

What are the risks of payday loans?

While payday loans can be a quick source of cash for those who need it, they come with several risks. The biggest risk is the high interest rates and fees associated with these loans. In Capshaw, Alabama, the maximum interest rate allowed by law is 456%, which means that borrowers can end up paying more in fees and interest than they borrowed in the first place.

Additionally, payday loans can be a trap for those who are unable to repay the loan on time. In these cases, borrowers may be forced to take out another loan to cover the cost of the first loan, leading to a cycle of debt that can be difficult to break.

Applying for a payday loan in Capshaw, Alabama

If you are considering applying for a payday loan in Capshaw, Alabama, it is important to do your research and find a reputable lender. At TheGuaranteedLoans, we offer a connector service to help you find potential lenders who may be able to meet your needs.

To apply for a loan through our service, simply visit our website and fill out our online application form. We will match you with potential lenders who may be able to offer you a loan, and you can then decide if you want to proceed with the application process.

Interesting Facts and Statistics

  • In Alabama, payday loans are legal with a maximum loan amount of $500 and a maximum interest rate of 456%.
  • The cap on loan interest rates in Alabama was lifted in 2003, causing a surge in the number of payday lenders in the state.
  • According to a report by the Center for Responsible Lending, Alabama has one of the lowest payday loan borrower protection standards in the country.
  • In 2019, the Alabama legislature passed a bill that would have imposed stricter regulations on payday lenders, but the bill was ultimately shelved.

Apply Now

If you are in need of a payday loan in Capshaw, Alabama, visit TheGuaranteedLoans website and fill out our online application form. We are a connector service, which means that we can help you find potential lenders who may be able to offer you a loan. Remember, payday loans are a high-cost form of borrowing and should only be used as a last resort.

F.A.Q.

What are the fees and interest charges associated with payday loans in Capshaw, Alabama?

The fees and interest charges associated with payday loans in Capshaw, Alabama are regulated by state law. Lenders are limited in the amount of fees and interest they can charge on payday loans, and these charges are typically expressed as a percentage of the amount borrowed. For example, a lender may charge a fee of $15 for every $100 borrowed.

Can I renew or rollover my payday loan in Capshaw, Alabama?

No, payday loans in Capshaw, Alabama cannot be renewed or rolled over. Borrowers are only allowed to take out one payday loan at a time, and once the loan is repaid, they cannot take out another loan until they have waited at least seven days.