Payday Loans in Tanner, Alabama

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

Company nameAddressZip codePhone number
Payday USA 816 Pelham Rd S, Jacksonville, AL 36265
Check Into Cash 505-B N Main St, Opp, AL 36467 +1 (334) 403 - 5517
Approved Cash 5300 Halls Mill Rd Suite I, Mobile, AL 36619
Cash Express 781 Airport Dr, Alexander City, AL 35010
1st Franklin Financial 428 N Carlisle St Suite D, Albertville, AL 35950
Check Into Cash 915-C Jefferson Street, Athens, AL 35611
Check n Go 3123 Ross Clark Cir Ste 6, Dothan, AL 36303 +1 (334) 370 - 9695
Cash Express 16430 US-72, Rogersville, AL 35652
Western Finance 2761 Eastern Blvd, Montgomery, AL 36117 +1 (334) 270 - 8011
Chesterfield Loans 9628 Parkway E, Birmingham, AL 35215 +1 (205) 251 - 0187

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Tanner, AL, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan for Prichard, AL, Payday Loans in Sylacauga, AL, Payday Loan Without a Credit Check in Talladega, AL, Payday Loans in Troy, AL, Short-term Loans in Trussville, AL, Online Loans in Tuscaloosa, AL, Payday Loans in Valley, AL and Payday 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 Tanner, AL.

Are Payday Loans Legal In Tanner, 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

Tanner, AL payday loan calculator

Understanding Payday Loans in Tanner, Alabama

When unexpected expenses arise, payday loans can be a helpful solution for individuals who need immediate cash. In Tanner, Alabama, payday loans are legal and can provide a financial safety net for those who need it. The nature of payday loans, however, is not without controversy. In this article, we will explore all there is to know about payday loans in Tanner, Alabama.

How do payday loans work?

A payday loan is a type of short-term loan where the borrower writes a post-dated check to the lender for the amount borrowed plus interest and fees. On the borrower’s next payday, the lender will cash the check to recover the loan amount. In Alabama, the maximum amount a borrower can take out is $500, and lenders can charge up to 17.5 percent for every $100 borrowed.

Payday loans are designed to be a quick solution to unexpected expenses. Borrowers with bad credit can typically get approved for a payday loan, as lenders do not require a credit check. Instead, lenders typically require proof of income and a checking account from the borrower.

The pros and cons of payday loans

While payday loans can provide immediate financial relief, there are both advantages and disadvantages to consider before taking out a loan.

Advantages

  • Easy application process
  • No credit check required
  • Fast cash deposited into your account

Disadvantages

  • High interest rates and fees
  • Short-term repayment period
  • Can lead to a cycle of debt

Borrowers should carefully consider their financial situation before taking out a payday loan. If a borrower cannot pay back the loan by the next payday, they may have to roll the loan over and incur additional fees and interest.

Paying back a payday loan

When a borrower receives their next paycheck, they are expected to pay back the full loan amount plus interest and fees. If a borrower cannot pay back the loan in full, they have the option to roll it over and pay additional fees and interest. This can lead to a cycle of debt that can be difficult to break.

Interesting Facts and Statistics About Payday Loans in Tanner, Alabama

  • The average payday loan in Alabama is $322 (Source: AL.com)
  • 67 percent of borrowers in Alabama use payday loans to cover recurring expenses, such as utilities and rent (Source: Southern Poverty Law Center)
  • Payday lenders in Alabama make $100 million each year from borrowers paying high interest rates (Source: AL.com)
  • Alabama has one of the highest concentrations of payday lenders in the country, with 1,100 payday lending locations (Source: Al.com)

Apply Now

Are you in need of immediate cash? TheGuaranteedLoans can help connect you with potential lenders for payday loans in Tanner, Alabama. Fill out our online application today and get the cash you need. Remember, we are a connector service and not a direct lender, so we will facilitate your connection with potential lenders to meet your borrowing needs.

Don’t let unexpected expenses wreak havoc on your finances. Consider a payday loan to help make ends meet. But remember to use payday loans responsibly and carefully consider your ability to repay the loan on time.

F.A.Q.

What is a payday loan in Tanner, Alabama?

A payday loan in Tanner, Alabama is a short-term loan that is designed to provide borrowers with quick access to cash. These loans are typically small in size, with most ranging from $100 to $500, and are meant to be repaid within a few weeks, usually on the borrower's next payday.

Are payday loans legal in Tanner, Alabama?

Yes, payday loans are legal in the state of Alabama. However, the state has strict regulations in place to protect borrowers from predatory lending practices.