Payday Loans in Silas, Alabama

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

Company nameAddressZip codePhone number
Regional Finance 631 Willow Ln k, Greenville, AL 36037
Thrivent Financial for Lutherans 705 Broadway Ave, Bridgeport, AL 35740 +1 (256) 813 - 6999
Cash Express 8477 US-431, Albertville, AL 35950
Quic!oans 150 Industrial Blvd, Leesburg, AL 35983
Check Into Cash 705 Hwy 43 South, Suite 14, Saraland, AL 36571
Advance America 6662 AL-75 Suite 100, Pinson, AL 35126
Citizens Finance of Guntersville, Inc. 1904 Gunter Ave, Guntersville, AL 35976 +1 (256) 505 - 0076
Covington Credit 1659 E Main St, Prattville, AL 36066
Discount Title Pawn 810 US Hwy 72 W C, Athens, AL 35611
1st Franklin Financial 445 Main St Suite 113 & 117, Trussville, AL 35173 +1 (205) 508 - 2250

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Silas, AL, you can try to find different companies in big cities near by. Check out the following pages here: Guaranteed Loans in Mountain Brook, AL, Payday Loan Companies in Northport, AL, Guaranteed Loans in Opelika, AL, Emergency Loan in Oxford, AL, Payday Loan for Pelham, AL, Guaranteed Loans in Pell City, AL, 24-Hour Loan in Phenix City, AL and Payday Loans in 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 Silas, AL.

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

36919

Are Payday Loans Legal In Silas, 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

Silas, AL payday loan calculator

Payday loans are a legal option for those in Silas, Alabama who find themselves in need of short-term financial help. These loans can be a lifesaver for people undergoing emergency expenses or managing unexpected bills. In this article, we will delve deeper into payday loans and help you decide whether they are the right financial choice for you.

What are payday loans?

A payday loan is a type of small cash advance that is generally due for repayment on the borrower’s next payday. The application process for payday loans is quick and easy, and borrowers often receive approval within hours of their application.

Payday loans are often used to cover emergency expenses that cannot wait until the next paycheck. These expenses might include overdue bills, medical expenses, car repairs, or any other necessary expense that can’t wait for the borrower’s next paycheck to arrive.

How do payday loans work?

The application process for payday loans is straightforward. Borrowers must provide proof of employment and income and a valid checking account. These requirements ensure that the borrower will be able to repay the loan when it’s due.

Once the application has been approved, the loan amount is deposited directly into the borrower’s checking account. The borrower is then required to pay back the full loan amount, plus any additional fees, on their next payday.

It’s essential to understand that payday loans come with high-interest rates and fees. This is because they are intended to be short-term loans, and lenders need to cover their expenses. Borrowers should be aware of the fees and ensure that they can afford to pay back the amount they borrow, plus any additional fees that may be incurred.

Benefits of payday loans in Silas, Alabama

One of the benefits of payday loans in Silas, Alabama, is that they are a legal option for those in need of quick cash. Unlike some other states, Alabama has passed laws that make payday loans legal and regulated.

The application process for payday loans is also quick and easy, and borrowers can receive approval for their loan within hours of their application. This makes payday loans a great option for those who need cash quickly to cover unexpected expenses.

Another benefit of payday loans is that they can be obtained by people with bad credit. Traditional loans can be challenging to obtain if the borrower has a poor credit history. In contrast, payday loans don’t require a credit check, so even those with bad credit can qualify for a loan.

Things to consider before applying for payday loans in Silas, Alabama

While payday loans can be beneficial for short-term financial needs, they are not without their disadvantages. Before applying for a payday loan, borrowers should consider both the benefits and risks involved.

One of the biggest risks of payday loans is the high-interest rates and fees. Lenders charge high rates of interest to cover the costs of providing these short-term loans. These interest rates can add up quickly, making it challenging to repay the loan on time.

Another thing to consider before applying for a payday loan is the repayment terms. Borrowers are required to pay back the full loan amount, plus any additional fees, on their next payday. If the borrower is unable to repay the loan on time, they may face additional fees, which can add to their financial troubles.

Interesting facts about payday loans in Silas, Alabama

  • In 2019, more than 1.7 million payday loans were issued in Alabama, with a total loan volume of $563.6 million
  • The average payday loan amount in Alabama was $322, with an average fee of $56 per loan
  • Payday lenders in Alabama are required to be licensed and regulated by the State Banking Department
  • Payday lenders in Alabama cannot charge more than 17.5% in interest and fees on each loan issued
  • The maximum loan term for payday loans in Alabama is 31 days

Apply now for a payday loan in Silas, Alabama

If you live in Silas, Alabama, and need cash quickly to cover unexpected expenses, TheGuaranteedLoans can help. We are not a direct lender, but we can facilitate your connection with potential lenders who can provide you with a payday loan.

Our online application process is quick and easy, and you can receive approval within hours of your application. Fill out our application form today to see if you qualify for a payday loan in Silas, Alabama.

Remember, payday loans are a legal option for those in need of short-term financial help. However, they should be used responsibly, and borrowers should ensure that they can afford the loan amount and any additional fees before applying.

F.A.Q.

What are payday loans in Silas, Alabama?

Payday loans in Silas, 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 Silas, Alabama work?

To take out a payday loan in Silas, 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.