Payday Loans in Normal, Alabama

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

Company nameAddressZip codePhone number
World Finance Corporation 814 Pelham Rd S, Jacksonville, AL 36265
North American Title Loans 3101 Woodward Ave, Muscle Shoals, AL 35661
Western Finance 2123 Douglas Ave, Brewton, AL 36426
Advance America 5363 Hwy. 280 #103-B, Birmingham, AL 35242
Advance America 1439 McFarland Blvd E # A, Tuscaloosa, AL 35404
1st Franklin Financial 11 Village Square, Clanton, AL 35045
Heritage South Credit Union 60 Gene E Stewart Blvd, Sylacauga, AL 35151 +1 (256) 245 - 4776
Quik Cash 1229 W Meighan Blvd, Gadsden, AL 35901
Covington Credit 109 Southland Village, Troy, AL 36079
TitleMax Title Loans 7245 US-431, Albertville, AL 35950

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Normal, AL, you can try to find different companies in big cities near by. Check out the following pages here: Bad Credit Loans in Prichard, AL, Payday Loans in Sylacauga, AL, Quick Loan in Talladega, AL, Payday Loans in Troy, AL, Payday Loans in Trussville, AL, Payday Loans in Tuscaloosa, AL, Payday Loans in Valley, AL and Short-term Loans in Vestavia Hills, 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 Normal, AL.

Are Payday Loans Legal In Normal, 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

Normal, AL payday loan calculator

Understanding Payday Loans in Normal, Alabama

If you’re looking for a way to get quick cash in Normal, Alabama, a payday loan might be worth considering. Payday loans are short-term loans that are designed to help you cover unexpected expenses or make ends meet until your next paycheck. Most payday loan lenders in Normal, Alabama have easy and fast online applications, which makes it easy to get the money you need quickly.

Are Payday Loans Legal in Alabama?

Yes, payday loans are legal in Alabama and are regulated by state law. The Alabama State Banking Department oversees all lenders operating in the state, which includes payday loan lenders.

  • Maximum Loan Amount: $500
  • Loan Term: 10-31 days
  • Maximum Finance Charge and Fees: 17.5% of the amount borrowed
  • Finance Charge on a 14-day $100 loan: $17.50
  • Annual Percentage Rate (APR) for a 14-day $100 loan: 456.25%

It is worth noting that while payday loans are legal in Alabama, it’s important to make sure you can repay the loan on time. Many borrowers get trapped in a cycle of debt by taking out additional loans to cover the fees and interest on their initial loan.

How to Apply for a Payday Loan in Normal, Alabama

Applying for a payday loan in Normal, Alabama is usually straightforward. Most lenders provide an online application form that only takes a few minutes to complete. Typically, you’ll need to provide proof of income and a valid ID to be eligible for a loan. Once you fill out the application, the lender will review the information and let you know if you’re approved.

It’s important to be cautious when applying for a payday loan. Make sure you understand the terms and conditions of the loan agreement before you sign anything. Check the interest rate, fees, repayment terms, and any penalties for late payments or default. If you can’t afford the loan or don’t feel comfortable with the terms, don’t take it out.

The Pros and Cons of Payday Loans

Like any financial product, payday loans come with their own set of advantages and disadvantages. Here are some of the pros and cons to consider:

Pros

  • Quick and easy to apply for
  • No collateral required
  • Borrowers with bad credit can still be approved
  • Can help you cover unexpected expenses or bills

Cons

  • High interest rates and fees
  • Short repayment terms
  • May lead to a cycle of debt
  • Can impact your credit score

Apply Now

If you need a payday loan in Normal, Alabama, TheGuaranteedLoans can help connect you with potential lenders. Our online application process is quick and easy, and we work with a network of reputable lenders who can provide you with the funds you need. It’s important to remember that we are not a direct lender, but rather a connector service.

If you’re ready to apply for a payday loan, simply fill out our online application form. We’ll review your information and connect you with lenders who may be able to help. Remember, it’s crucial to borrow responsibly and repay your loan on time to avoid additional fees and interest charges.

Interesting Facts and Statistics About Payday Loans in Normal, Alabama

  • According to a study by the Center for Responsible Lending, payday loans in Alabama have an average APR of 456.25%, which is the highest in the nation.
  • The average payday loan amount in Alabama is $300.
  • Over 200,000 payday loans are taken out in Alabama each year.
  • The majority of payday loan borrowers in Alabama are women, and many are single parents.

While payday loans can be a viable option for emergency cash needs, it’s crucial to remember that they come with high fees and interest rates. Be sure to weigh the pros and cons before taking out a payday loan and make sure you can repay it on time.

F.A.Q.

What are the requirements for taking out a payday loan in Normal, Alabama?

To take out a payday loan in Normal, Alabama, you must be at least 18 years old, have a regular source of income, and have a valid checking or savings account.

How do I apply for a payday loan in Normal, Alabama?

To apply for a payday loan in Normal, Alabama, you can either visit a payday lender in person or apply online. In either case, you will need to provide some basic information, such as your personal details, employment information, and bank account information.