Payday Loans in Webb, Alabama

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

Company nameAddressZip codePhone number
Great American Loans - Available Online 103 E Cumming Ave, Opp, AL 36467
Quick Credit 320 W Avalon Ave #6, Muscle Shoals, AL 35661
Advance America 1541 W Magnolia Ave #1, Geneva, AL 36340
Security Finance 600 S Jefferson St G, Athens, AL 35611 +1 (256) 771 - 2903
Cadence Bank - Blountsville Branch 69156 Main St, Blountsville, AL 35031 +1 (205) 429 - 6060
Farmers & Merchants Bank 320 Main St, Waterloo, AL 35677 +1 (256) 766 - 2579
1st Franklin Financial 2525 Hwy 78, Jasper, AL 35501
Approved Cash 3700 Blue Spring Rd NW Suite Q1, Huntsville, AL 35810
Cash Express 930 Saraland Blvd S, Saraland, AL 36571
Regions Bank 14020 S Wintzell Ave, Bayou La Batre, AL 36509 +1 (251) 824 - 0880

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Webb, AL, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan for Gadsden, AL, Payday Loan Companies in Homewood, AL, Same Day Loans in Hoover, AL, Payday Loan for Huntsville, AL, Payday Loans in Jasper, AL, Online Loans in Madison, AL, Payday 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 Webb, AL.

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

36376

Are Payday Loans Legal In Webb, 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

Webb, AL payday loan calculator

Payday loans, also known as cash advances, are a type of short-term loan that can provide quick cash to individuals in need of financial assistance. They are typically used to cover unexpected expenses, such as medical bills, car repairs or other emergency costs that arise between paydays. While payday loans are a legitimate and legal source of funding in Alabama, borrowers should be aware of the risks associated with these types of loans, and understand the terms and conditions of the loan agreement before borrowing.

Rules and Regulations for Payday Loans in Webb, Alabama

In Alabama, payday loans are regulated by the Alabama State Banking Department. These regulations are designed to protect borrowers from predatory lending practices while ensuring that lenders can operate fairly and profitably.

Loan Amounts and Fees

The maximum amount that a borrower can receive in a payday loan in Alabama is typically $500, with a term of 10-31 days. Lenders can charge interest rates of up to 17.5% of the loan amount, which can lead to APRs as high as 456%. Additionally, lenders are allowed to charge a finance charge of up to 3% of the loan amount per month if the borrower fails to repay the loan on time.

Repayment Terms

Borrowers in Alabama can roll over a payday loan once, meaning that they can extend the loan term by paying only the finance charge. However, this can lead to a cycle of debt if the borrower is unable to repay the loan on time, as the finance charges and interest can quickly add up.

Credit Checks

Unlike traditional lenders, payday loan lenders do not always require a credit check before approving a loan. This can make payday loans a viable option for borrowers with poor credit or no credit history. However, it also means that lenders may not have a complete picture of the borrower’s ability to repay the loan, which can lead to borrowers taking on more debt than they can handle.

The Pros and Cons of Payday Loans

Before applying for a payday loan in Webb, Alabama, it is important to understand the pros and cons of this type of loan. While payday loans can provide a quick source of funding for unexpected expenses, they also come with significant risks and drawbacks.

Pros of Payday Loans

  • Quick and easy access to cash
  • No credit check required in some cases
  • May be a viable option for borrowers with poor credit or no credit history

Cons of Payday Loans

  • High interest rates and fees
  • Short repayment terms
  • Risk of cycle of debt if unable to repay the loan on time
  • May lead to financial instability and long-term financial damage

Interesting Facts and Statistics about Payday Loans in Webb, Alabama

  • Alabama has one of the highest concentrations of payday lenders in the country, with over 1,000 stores in operation.
  • In 2019, Alabama borrowers took out over 1.6 million payday loans, with a total value of over $431 million.
  • The average payday loan amount in Alabama is around $350.
  • Payday lenders in Alabama are not required to verify a borrower’s ability to repay the loan before issuing the loan.
  • In some cases, borrowers in Alabama can be charged up to 456% APR on a payday loan.

Apply Now for a Payday Loan in Webb, Alabama

If you are in need of quick cash to cover unexpected expenses, a payday loan in Webb, Alabama may be a viable option for you. At TheGuaranteedLoans, we specialize in connecting borrowers with potential lenders who can provide the funding they need, even for those with poor credit or no credit history.

It is important to understand that TheGuaranteedLoans is a connector service, not a direct lender. We work with a network of lenders who can provide payday loans and other types of short-term loans to borrowers in need. By filling out our online application, you can get connected with potential lenders who may be able to provide the funding you need.

It is crucial to read and understand the terms and conditions of any loan agreement before accepting and signing it. Borrowers should ensure that they can afford to make the repayments on time, to avoid falling into a cycle of debt. Additionally, it is recommended that borrowers only borrow what they need and resist the temptation to borrow more than necessary.

TheGuaranteedLoans is dedicated to providing our readers with informative and accurate financial resources, and we hope that this article has provided valuable insights into payday loans in Webb, Alabama.

F.A.Q.

What should I do if I can't repay my payday loan in Webb, Alabama?

If you are unable to repay your payday loan in Webb, Alabama, it is important to contact your lender as soon as possible to discuss your options. Depending on the lender and your individual circumstances, you may be able to negotiate a repayment plan or extend the due date of your loan. It is important to avoid defaulting on your loan, as this can have serious consequences, including damage to your credit score and potential legal action.

Are there any restrictions on the number of payday loans I can take out in Webb, Alabama?

Yes, there are restrictions on the number of payday loans that a borrower can take out in Webb, Alabama. Borrowers are only allowed to take out one payday loan at a time, and they must wait at least seven days before taking out another loan.