Payday Loans in Samantha, Alabama

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

Company nameAddressZip codePhone number
Check Into Cash 1209 Ross Clark Cir #2, Dothan, AL 36301
Gulf Winds Credit Union 201 S Main St, Atmore, AL 36502 +1 (800) 650 - 6328
Check Into Cash 27955 Hwy 98, Suite O, Daphne, AL 36526
Regional Finance 1845 Montgomery Hwy Suite 221, Hoover, AL 35244 +1 (205) 987 - 9951
Advance America 3506-C Rainbow Dr., Rainbow City, AL 35906
TitleMax Title Loans 508 Martin St N #5, Pell City, AL 35125
Alabama Credit Corporation 116 East Interstate 65 Service Rd N, Mobile, AL 36607 +1 (251) 476 - 3131
Financial Biz Partners LLC 464 Military St S, Hamilton, AL 35570 +1 (205) 921 - 0505
1st Franklin Financial 441 George Wallace Dr, Gadsden, AL 35903
1st Franklin Financial 102 Micah Way Suite 1101, Scottsboro, AL 35769

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Samantha, 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 Loans in Albertville, AL, Guaranteed Loans in Anniston, AL, Payday Loans in Athens, AL, Payday Loans in Atmore, AL, No Credit Check Loans in Auburn, AL, Payday Loans in Bessemer, AL and Quick Loan 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 Samantha, AL.

Are Payday Loans Legal In Samantha, 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

Samantha, AL payday loan calculator

Payday Loans in Samantha, Alabama

If you’re in a financial bind and need a quick source of cash, you might be considering a payday loan. These short-term, high-interest loans can be a lifeline when you’re in a pinch, but they can also be a major financial burden if you’re not careful.

In Alabama, payday loans are legal, but there are certain regulations in place to protect borrowers from predatory lending practices. Let’s take a closer look at what you need to know if you’re considering a payday loan in Samantha, Alabama.

How Payday Loans Work

Payday loans are designed to provide a short-term source of cash for people who need money quickly. Typically, the loan amount is relatively small, and the repayment period is short – usually a couple of weeks or until your next payday.

When you take out a payday loan, you’ll be required to provide your lender with a postdated check or authorization to withdraw the loan amount, plus interest and fees, directly from your bank account on a specified date. If you can’t repay the loan on time, you may be charged additional fees and interest, and your credit may be damaged.

Regulations in Alabama

While payday loans are legal in Alabama, the state has enacted certain regulations to protect borrowers from predatory lenders. For example, payday lenders in Alabama are required to:

  • Cap loan amounts at $500
  • Limit the loan term to 31 days
  • Charge no more than 17.5% interest
  • Allow borrowers to roll over loans no more than once
  • Maintain a database to prevent borrowers from taking out multiple loans at once

These regulations are designed to prevent borrowers from getting trapped in a cycle of debt, where they take out one loan after another just to stay afloat.

Benefits of Payday Loans

Payday loans can be a valuable source of quick cash for people who need money urgently. Some of the benefits of payday loans include:

  • Quick approval process – you can often get approved for a payday loan within minutes
  • No collateral required – you don’t need to put up any assets as collateral for a payday loan
  • No credit check – payday lenders typically don’t check your credit score before approving a loan

Apply Now

If you’re considering a payday loan in Samantha, Alabama, TheGuaranteedLoans can help you connect with potential lenders. Keep in mind that we’re a connector service, not a direct lender. That means we’ll facilitate your connection with a lender, but we won’t be providing the loan ourselves.

Applying for a payday loan is easy – simply fill out our online application form with your personal and income information, and we’ll match you with a lender that meets your needs. If you’re approved, you can typically get the money you need within 24 hours. Just remember to read the loan agreement carefully before signing it, and make sure you understand the terms and fees before committing to anything.

Interesting Facts and Statistics About Payday Loans in Samantha, Alabama

Did you know:

  • Over 1.8 million payday loans were taken out in Alabama in 2020 alone
  • The average payday loan in Alabama is $350
  • Payday lenders in Alabama charge an average interest rate of 456%
  • Over 60% of payday loan borrowers in Alabama roll over their loans at least once

These facts and statistics illustrate the high demand for payday loans in Alabama, and the need for borrowers to be cautious when taking out these types of loans.

In Conclusion

Payday loans can be an important source of short-term cash flow for people in Samantha, Alabama who are in a financial bind. However, it’s important to understand the risks associated with these loans, and to be careful when choosing a lender.

If you’re considering a payday loan, be sure to shop around for the best rates and terms, and read the loan agreement carefully before signing anything. And remember, if you’re struggling to make ends meet, there may be other options available to you, such as budgeting, saving, or borrowing from friends and family.

F.A.Q.

What are payday loans in Samantha, Alabama?

Payday loans in Samantha, Alabama are short-term, high-interest loans that are designed to be repaid on the borrower's next payday. These loans are often used to cover unexpected expenses or to bridge the gap between paychecks.

How do payday loans in Samantha, Alabama work?

To take out a payday loan in Samantha, Alabama, a borrower typically writes a check for the amount of the loan plus a fee, which the lender holds until the borrower's next payday. On that date, the borrower has the option to either repay the loan in full, including the fee, or roll the loan over for another term by paying only the fee.