Payday Loans in Excel, Alabama

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

Company nameAddressZip codePhone number
First National Bank-Brundidge 137 S Main St, Brundidge, AL 36010 +1 (334) 735 - 2351
TitleMax Title Loans 713 E Battle St, Talladega, AL 35160 +1 (256) 362 - 9991
Credit Central 37255 Highway 43, Thomasville, AL 36784 +1 (334) 636 - 4255
1st Franklin Financial 926 US Hwy 72 E, Athens, AL 35611
Cadence Bank - Rainbow City Branch 3201 Rainbow Dr, Rainbow City, AL 35906 +1 (256) 413 - 7400
Mortgage Source LLC 21 Court St Ste 102, Jasper, Georgia +1 (678) 317 - 0338
Tower Loan 416 Chestnut St, Gadsden, AL 35901 +1 (256) 456 - 9735
Money Store 1678 AL-22, Alexander City, AL 35010
World Finance 1234 Andrews Ave Ste D, Ozark, AL 36360 +1 (334) 219 - 4019
Check Into Cash 1508 S McKenzie St suite A, Foley, AL 36535 +1 (251) 929 - 9007

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Excel, AL, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Cullman, AL, Payday Loans in Daphne, AL, Emergency Loan in Decatur, AL, Payday Loans in Dothan, AL, 24-Hour Loan in Enterprise, AL, Payday Loan Companies in Eufaula, AL, Same Day Loans in Florence, AL and Payday Loans in Foley, 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 Excel, AL.

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

36439

Are Payday Loans Legal In Excel, 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

Excel, AL payday loan calculator

Payday Loans in Excel, Alabama

If you live in Excel, Alabama, and are in need of quick cash to cover unexpected expenses, you may have considered payday loans. Payday loans can provide a short-term solution to financial problems, but they can also be a risky option. This article will cover everything you need to know about payday loans in Excel, Alabama, including their legality, how they work, and what alternatives are available.

Legal Status of Payday Loans in Excel, Alabama

Payday loans are legal in Alabama, including in the town of Excel. Alabama law governs all aspects of payday lending, including the maximum loan amount, loan term, and fees. The state of Alabama has set a maximum loan amount of $500 and a maximum loan term of 31 days for payday loans.

Lenders can charge up to 17.5% of the loan amount as a finance charge. This means that if you borrow $100, you could be charged up to $17.50 in finance charges. Additionally, lenders can charge up to $30 for a returned check.

How Payday Loans Work

Payday loans are short-term loans that are typically due on your next payday. To obtain a payday loan, you will need to provide proof of income and a valid ID. You will also need to provide your bank account information. If you are approved for a loan, the funds will be deposited directly into your bank account.

On your due date, the lender will withdraw the loan amount plus fees from your bank account. If you are unable to repay the loan, the lender can charge additional fees and interest.

Risks of Payday Loans

Payday loans can seem like a quick and easy solution to financial problems, but they come with significant risks. The high interest rates and fees associated with payday loans can trap borrowers in a cycle of debt. If you are unable to repay the loan on time, the lender may offer to extend the loan, but this will come with additional fees and interest.

If you are unable to repay the loan, the lender may also take collection action against you. This can include contacting your employer or garnishing your wages. Payday loans should only be considered as a last resort when all other options have been exhausted.

Alternatives to Payday Loans

If you are in need of quick cash, there may be other options available to you. You may be eligible for a personal loan from a bank or credit union. Personal loans typically have lower interest rates and longer repayment terms than payday loans.

You may also be able to negotiate a payment plan with your creditor or seek assistance from a local non-profit organization. Some employers also offer salary advances to their employees.

Interesting Facts about Payday Loans in Excel, Alabama

– In Alabama, the average payday loan borrower takes out 8.1 loans per year, with an average loan amount of $321.
– According to a study by the Pew Charitable Trusts, Alabama has some of the least regulated payday lending laws in the country.
– The majority of payday loan borrowers in Alabama are women and minorities.

Apply Now

If you have considered all the risks and options and have decided to apply for a payday loan, TheGuaranteedLoans can help. We are a connector service that can connect you with potential lenders who may be able to provide the funds you need. Keep in mind that we are not a direct lender, and you will need to meet the lender’s eligibility requirements and agree to their terms and conditions.

To get started, fill out our online application form. Within minutes, we will provide you with a list of potential lenders. Review their offers carefully and choose the one that best meets your needs.

Conclusion

Payday loans can be a risky option for those in need of quick cash, but they can also provide a temporary solution to financial problems. If you have considered all the risks and options and have decided to apply for a payday loan in Excel, Alabama, TheGuaranteedLoans can help. Remember to borrow only what you can afford to repay and to compare offers from multiple lenders before making a decision.

F.A.Q.

What is the maximum APR for payday loans in Excel, Alabama?

The maximum APR for payday loans in Excel, Alabama is 456%.

What are the fees associated with payday loans in Excel, Alabama?

The fees associated with payday loans in Excel, Alabama are determined by the amount of the loan and the length of the loan term. Typically, the fee is a flat rate that is a certain percentage of the loan amount, such as $15 per $100 borrowed.