Payday Loans in Petrey, Alabama

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

Company nameAddressZip codePhone number
World Finance Corporation 701 US-31 b, Hartselle, AL 35640
Republic Finance 16 McFarland Blvd, Northport, AL 35476
Homestar Financial Corporation 3164 US-431 Suite 8, Roanoke, AL 36274 +1 (334) 646 - 0220
Marana Motors 503 N Rum River Dr, Princeton, Minnesota +1 (763) 250 - 4232
MONEY Express 940 Schillinger Rd N, Mobile, AL 36608 +1 (251) 639 - 0866
Covington Credit 2605 Gault Ave N #400, Fort Payne, AL 35967
Marion Bank & Trust Company 601 Washington St, Marion, AL 36756 +1 (334) 683 - 6131
Alabama Title Loans, Inc. 1001 Woodward Ave, Muscle Shoals, AL 35661
Advance America 155 9th Ave #109, Foley, AL 36535
Lendmark Financial Services LLC 27955 US-98 Suite AA, Daphne, AL 36526 +1 (251) 581 - 9202

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Petrey, AL, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Gadsden, AL, Payday Loans in Homewood, AL, Payday Loans in Hoover, AL, Payday Loans in Huntsville, AL, 24-Hour Loan in Jasper, AL, Payday Loan Without a Credit Check in Madison, AL, Bad Credit Loans in Mobile, AL and Payday Loans in Montgomery, 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 Petrey, AL.

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

36062

Are Payday Loans Legal In Petrey, 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

Petrey, AL payday loan calculator

Understanding Payday Loans in Petrey, Alabama

Do you find yourself in need of quick cash in Petrey, Alabama? Perhaps you have unexpected medical bills, car repairs, or other expenses that cannot wait until your next paycheck. If so, you might want to consider taking out a payday loan.

Payday loans are a type of short-term cash loan that can provide relief when you need it most. In Alabama, these loans are legal, regulated by the Alabama State Banking Department, and can be a viable option for many individuals who need financial assistance.

How Do Payday Loans Work in Petrey, Alabama?

In Petrey, Alabama, payday loans involve borrowing a small amount of money, typically ranging from $100 to $500. These loans can be obtained by providing a personal check or authorizing electronic access to your bank account.

Unlike traditional loans, payday loans are designed for short-term borrowing, typically requiring repayment within two weeks to a month. In some cases, repayment can be extended if you are unable to pay on the due date, but this might incur additional fees and interest.

One thing to keep in mind is that payday loans typically carry high-interest rates. In Alabama, the maximum interest rate for a payday loan is 17.5% per $100 borrowed for two weeks, which equates to an annual percentage rate (APR) of 456%.

Who Can Qualify for a Payday Loan in Petrey, Alabama?

In Petrey, Alabama, qualifying for a payday loan is relatively easy compared to other types of loans. Typically, lenders will only require proof of income, a valid government-issued ID, and an active bank account. Your credit history or score might not be a factor, and you can apply online or in-person.

Pros and Cons of Payday Loans in Petrey, Alabama

Like any financial option, payday loans in Petrey, Alabama, have their advantages and disadvantages. Here are some pros and cons to keep in mind:

Pros:

  • Quick and convenient way to obtain cash when you need it most.
  • No credit check required, making it accessible to people with bad credit.
  • Easy to qualify for with minimal paperwork.

Cons:

  • High-interest rates and fees, making them expensive in the long-run.
  • Short-term repayment terms could lead to a cycle of debt if you cannot pay the loan back on time.
  • Some lenders might engage in predatory practices, such as hidden fees or aggressive collection tactics, so make sure you read the fine print.

Facts and Statistics About Payday Loans in Petrey, Alabama

Here are some interesting facts and statistics about payday loans in Petrey, Alabama:

  • Payday loans are legal in Alabama, with the law regulating the industry.
  • In 2019, Alabama borrowers took out over 1.8 million payday loans at an average loan amount of $341.05.
  • The average APR for payday loans in Alabama is 456%, which is one of the highest rates in the country.
  • More than 85% of payday loans in Alabama are taken out by borrowers who end up taking out more than 10 loans per year.

Apply Now for a Payday Loan in Petrey, Alabama

If you find yourself in need of quick cash, apply now for a payday loan on TheGuaranteedLoans website. Our platform enables you to connect with potential lenders who can provide you with the funds you need quickly and easily.

Remember, while payday loans in Petrey, Alabama, can be a helpful tool for people who need cash in an emergency, they can also be costly if not used responsibly. Make sure you borrow only what you need and can pay back on time.

Apply now and take advantage of our fast and secure online application process, and gain access to the financial relief you need today!

F.A.Q.

Can I renew or extend my payday loan in Petrey, Alabama?

Some lenders may allow borrowers to renew or extend their payday loans in Petrey, Alabama, but this option is not available in all cases. It is important to carefully read the terms of your loan agreement before deciding whether to renew or extend your loan.

What are payday loans in Petrey, Alabama?

Payday loans in Petrey, Alabama are short-term loans that are designed to provide borrowers with quick access to cash to cover unexpected expenses or urgent financial needs. These loans typically range from $100 to $500 and are due on the borrower's next payday, hence the name.