Payday Loans in Kennedy, Alabama

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

Company nameAddressZip codePhone number
First Southern Financial Inc. 1307, Hartselle, AL 35640 +1 (256) 751 - 9909
Cash 2 Go 1604 S Main St, Atmore, AL 36502
Easy Money 309 2nd Ave NW, Cullman, AL 35055
Quik Cash 114 S Market St, Scottsboro, AL 35768
Always Money 1311 Opelika Rd, Auburn, AL 36830
Bank Independent Red Bay Drive-Thru 305 4th Ave SW, Red Bay, AL 35582 +1 (256) 386 - 5000
Dixie Dollar Payday Loans Inc 346 Elm St, Sulligent, AL 35586
1st Franklin Financial 320 W Avalon Ave Suite 2, Muscle Shoals, AL 35661
Budget Check Advance 1604 US-78, Jasper, AL 35501 +1 (205) 221 - 0918
World Finance 2717 John Hawkins Pkwy Ste 101, Hoover, AL 35244

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Kennedy, 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 Loans in Anniston, AL, Payday Loan Without a Credit Check in Athens, AL, Payday Loans in Atmore, AL, Online Loans in Auburn, AL, Payday Loans in Bessemer, AL and Guaranteed 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 Kennedy, AL.

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

35574

Are Payday Loans Legal In Kennedy, 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

Kennedy, AL payday loan calculator

Payday Loans in Kennedy, Alabama: What You Need to Know

If you’re struggling to make ends meet, payday loans can seem like an appealing option. These short-term loans can provide cash when you need it most. But if you’re considering taking out a payday loan in Kennedy, Alabama, there are some important things you should know.

How Payday Loans Work in Alabama

In Alabama, payday loans are legal and regulated under the Alabama Small Loan Act. This law sets the maximum loan amount at $500 and the maximum loan term at 31 days. Lenders are permitted to charge a maximum of 17.5% in interest and fees, which works out to an annual percentage rate (APR) of 456%.

Repayment Terms

When you take out a payday loan in Alabam, you’ll need to repay it in full on your next payday. If you can’t repay the full amount, you can renew the loan up to four times. However, each time you renew the loan, you’ll pay additional fees and interest, which can quickly add up.

  • Loan amount: up to $500
  • Maximum loan term: 31 days
  • Maximum interest and fees: 17.5%
  • Maximum APR: 456%

Benefits of Payday Loans

If you’re facing financial hardship, there are some benefits to taking out a payday loan:

  • Quick cash: Payday loans can be approved and funded within a day, allowing you to address your financial emergency quickly.
  • No credit check: Payday lenders typically don’t check your credit score, so even if you have bad credit, you may still be able to get a loan.
  • No collateral: Payday loans are unsecured, meaning you don’t need to put up any collateral to secure the loan.

Drawbacks of Payday Loans

While there are some benefits to payday loans, there are also some potential pitfalls:

  • High fees: The fees and interest rates on payday loans can be extremely high, making the loans expensive in the long run.
  • Short-term solution: Payday loans are designed to be short-term solutions to financial problems. If you’re not able to repay the loan quickly, you may end up in a cycle of debt.
  • No long-term impact: Payday loans don’t typically impact your credit score or help you build credit, so they’re not a good option if you’re looking to improve your credit.

Interesting Facts About Payday Loans in Kennedy, Alabama

Here are some interesting facts about payday loans in Kennedy, Alabama:

  • Kennedy, Alabama has a population of just over 500 people, but there are still multiple payday lenders operating in the area.
  • One payday lender in Kennedy, Alabama charges 10% in interest and fees, much lower than the legal maximum of 17.5%.
  • The average payday loan in Alabama is for $350, and borrowers typically take out between 3 and 5 loans per year.

Apply Now

If you’re considering taking out a payday loan in Kennedy, Alabama, TheGuaranteedLoans can help. We’re a connector service that connects borrowers with potential lenders. To get started, simply fill out our online application. Keep in mind that we’re not a direct lender, and we don’t make lending decisions. Instead, we facilitate the connection between borrowers and lenders.

So if you’re in need of quick cash, don’t hesitate to apply now. We’ll work hard to connect you with a lender who can meet your needs.

F.A.Q.

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

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

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

The fees associated with payday loans in Kennedy, 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.