Payday Loans in Glenwood, Alabama

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

Company nameAddressZip codePhone number
Mutual Savings Credit Union 16072 AL-216, Brookwood, AL 35444 +1 (205) 682 - 1100
Liberty Tax Service 1234 Andrews Ave Suite C, Ozark, AL 36360 +1 (334) 432 - 8289
Advance Cash Loans 435 George Wallace Dr, Gadsden, AL 35903 +1 (256) 543 - 2228
BancorpSouth Bank 8433 1st Ave SE, Leeds, AL 35094 +1 (205) 699 - 2181
Quick Credit 4710 University Dr NW Ste 17-B, Huntsville, AL 35816 +1 (256) 382 - 7376
West Alabama Bank 28921 Highway 5,, Woodstock, AL 35188 +1 (205) 938 - 0415
Cash Express 802 US Hwy 72 W, Athens, AL 35611 +1 (256) 216 - 9015
Alabama Title Loans, Inc. 963 S Memorial Dr, Prattville, AL 36066
Advance America 6662 AL-75 Suite 100, Pinson, AL 35126
Covington Credit 305 7th St N, Clanton, AL 35045

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Glenwood, AL, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Mountain Brook, AL, Payday Loans in Northport, AL, Payday Loans in Opelika, AL, Payday Loans in Oxford, AL, Payday Loans in Pelham, AL, Same Day Loans in Pell City, AL, Payday Loans in Phenix City, AL and Payday Loans in Prattville, 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 Glenwood, AL.

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

36034

Are Payday Loans Legal In Glenwood, 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

Glenwood, AL payday loan calculator

Payday Loans in Glenwood, Alabama: Everything You Need to Know

If you find yourself in a financial emergency, taking out a payday loan can be a quick solution to your cash needs. Payday loans are short-term loans that can help you cover unexpected expenses until your next paycheck arrives. While payday loans may seem like an attractive option, it’s important to understand the specifics of payday loans in Glenwood, Alabama, before you take one out. Here’s everything you need to know about payday loans in Glenwood, Alabama.

Legal Status of Payday Loans in Alabama

First and foremost, it’s important to note that payday loans are legal in the state of Alabama. However, like many states in the US, Alabama has specific regulations in place to govern payday lenders and borrowers. These regulations specify loan terms, fees, and interest rates.

How Payday Loans Work

Payday loans are easy to get and are typically available to anyone with a job and a bank account. To get a payday loan, you typically need to provide proof of income, such as a paycheck stub or bank statement. You’ll also need to provide your name, address, and other personal information.

Once you’re approved for a payday loan, the lender will give you the funds you need in exchange for a post-dated check or authorization to withdraw funds from your bank account on your next payday. The loan amount, fees, and interest rates are typically due in full on your next payday.

Loan Limits in Alabama

In Alabama, payday loans are capped at $500. Additionally, the loan term cannot exceed 31 days. The lender is also allowed to charge you a maximum of 17.5% in interest fees, which works out to $17.50 of interest for every $100 borrowed. For example, if you borrow $300, you would be required to pay $345 back on your next payday.

Fees Associated with Payday Loans in Glenwood, Alabama

In addition to interest fees, payday lenders in Alabama can also charge a finance charge. In Alabama, the maximum finance charge is $17.50 per $100 borrowed. This means that if you borrow $300, you’ll be charged a finance charge of $52.50. While the finance charge may seem small, it can quickly add up if you’re borrowing larger amounts.

Repaying Your Payday Loan in Alabama

Once your payday loan is due, the lender will cash your post-dated check or withdraw the funds from your bank account. If you don’t have the funds available in your account, you may be charged additional fees or penalties. It’s important to understand the terms of your loan and to make sure you have enough funds available to repay it in full on your next payday.

Apply Now for a Payday Loan in Glenwood, Alabama

If you’re facing a financial emergency and need cash quickly, applying for a payday loan in Glenwood, Alabama, may be a viable option for you. At TheGuaranteedLoans, you can easily apply for a payday loan online. Our platform connects you with potential lenders who may be able to meet your financial needs.

Note that TheGuaranteedLoans is not a direct lender, but a connector service that facilitates connections between borrowers and lenders. We understand that financial emergencies don’t wait, so we work quickly to help you find the right lender for your needs.

Interesting Facts and Statistics About Payday Loans in Glenwood, Alabama

  • In 2019, Alabama residents took out more than 1.6 million payday loans, totaling $563.6 million in loan volume.
  • The average payday loan amount in Alabama is $322.
  • Alabama has the highest concentration of payday lenders in the US, with more than 1,100 stores operating across the state.
  • Payday lenders in Alabama charge the highest interest rates in the US, with an average interest rate of 456% APR.
  • In 2020, the Alabama State Senate approved a bill to increase payday loan term limits from 31 days to 45 days.

Conclusion

While payday loans in Glenwood, Alabama, can provide a quick fix to your financial emergency, it’s important to understand the loan terms, fees, and interest rates before you take one out. Make sure you have the funds available to repay the loan on your next payday, and consider alternative options, such as a personal loan or credit card, if possible.

At TheGuaranteedLoans, we strive to provide transparent and comprehensive information about payday loans in Glenwood, Alabama. Apply now for a payday loan and let us help you connect with potential lenders who can meet your financial needs.

F.A.Q.

What is a payday loan in Glenwood, Alabama?

A payday loan in Glenwood, Alabama is a short-term loan that is designed to provide borrowers with quick access to cash. These loans are typically small in size, with most ranging from $100 to $500, and are meant to be repaid within a few weeks, usually on the borrower's next payday.

Are payday loans legal in Glenwood, Alabama?

Yes, payday loans are legal in the state of Alabama. However, the state has strict regulations in place to protect borrowers from predatory lending practices.