Payday Loans in Magnolia Springs, Alabama

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

Company nameAddressZip codePhone number
Complete Cash 12527 US-431, Guntersville, AL 35976 +1 (256) 582 - 8588
Fast Cash 180 Main St W, Rainsville, AL 35986
Title Cash 1112 6th Ave SE, Decatur, AL 35601 +1 (256) 353 - 7841
Advance America 3922 Hwy 80 West C, Phenix City, AL 36870
Title Cash Regional Manager 805 N Main St, Atmore, AL 36502 +1 (251) 368 - 2851
First Citizens Bank 475 Greenville Bypass, Greenville, AL 36037 +1 (334) 371 - 5000
1st Franklin Financial 4662 US Hwy 231, Wetumpka, AL 36092 +1 (334) 514 - 6111
Local Cash Advance 1726 Montgomery Hwy, Dothan, AL 36303 +1 (334) 673 - 2535
Title Cash 3658 Cloverdale Rd, Florence, AL 35633 +1 (256) 764 - 2682
Cash Express 2605 S Broad St, Scottsboro, AL 35768 +1 (256) 999 - 0035

Payday Loan Companies in Nearby Cities

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

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

36555

Are Payday Loans Legal In Magnolia Springs, 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

Magnolia Springs, AL payday loan calculator

Payday Loans in Magnolia Springs, Alabama – Everything You Need to Know

If you live in Magnolia Springs, Alabama, and find yourself in need of quick cash, a payday loan can be a viable option. Payday loans, as the name suggests, are short-term loans that can help you cover an unexpected expense or tide you over until your next paycheck arrives. And the good news is, payday loans are legal in Alabama, so you can rest assured that you’re not breaking any laws by applying for one.

What Are Payday Loans?

Payday loans are high-interest loans that are typically due on your next payday. They’re designed to bridge the gap between paychecks, and they’re often marketed to people who have poor credit or can’t qualify for traditional loans. The application process is relatively simple, and you can typically get approved on the same day you apply.

How Do Payday Loans Work?

The process of getting a payday loan in Magnolia Springs, Alabama is relatively straightforward. You’ll start by providing your personal information and proof of income to a payday lender. The lender will then review your application and, if you’re approved, provide you with a loan agreement that outlines the terms of the loan, including the interest rate and fees you’ll be charged.

Assuming you accept the loan agreement, the lender will deposit the funds directly into your bank account. You’ll then be required to repay the loan, along with any interest and fees, on your next payday. Some lenders may allow you to roll over your loan if you can’t repay it on time, but this can result in additional fees and interest charges.

What Are the Benefits of Payday Loans?

  • Quick and easy application process
  • No credit check required
  • No collateral required

One of the biggest advantages of payday loans is that they’re relatively easy to obtain, even if you have poor credit. Because payday lenders don’t typically do credit checks, you can get approved even if you’ve been turned down by traditional lenders. And unlike secured loans, such as auto loans or mortgage loans, payday loans don’t require any collateral, so you don’t have to put your assets at risk to get the money you need.

What Are the Risks of Payday Loans?

  • High interest rates and fees
  • Potential for predatory lending practices
  • Expensive if not repaid on time

Of course, there are also some risks associated with payday loans. Because they’re short-term loans, payday lenders tend to charge very high interest rates, often in excess of 400%. And if you can’t repay the loan on time, the fees and interest charges can quickly add up, making the loan even more expensive.

Additionally, there’s always the potential for predatory lending practices. Some unscrupulous lenders may try to take advantage of people who are in a desperate financial situation, charging exorbitant fees and interest rates or using aggressive debt collection tactics.

Interesting Facts about Payday Loans in Magnolia Springs, Alabama

  • In Alabama, the maximum loan amount for a payday loan is $500.
  • The maximum loan term is 31 days.
  • Alabama law allows lenders to charge up to 17.5% of the loan amount as a finance charge, which works out to an annual percentage rate (APR) of 456% for a 14-day loan.
  • In 2018, residents of Alabama borrowed more than $800 million in payday loans, and paid more than $121 million in fees.

Apply Now

If you’re in need of quick cash and are considering a payday loan in Magnolia Springs, Alabama, TheGuaranteedLoans can help. We’re not a direct lender, but we’re a connector service that can help you find reputable lenders in your area. Fill out our online application today, and we’ll provide you with a list of lenders that may be able to help you get the money you need.

Just remember, payday loans can be expensive, so make sure you understand the terms of the loan and can repay it on time before you apply.

F.A.Q.

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

The interest rate on a payday loan in Magnolia Springs, 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 Magnolia Springs, Alabama?

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