Payday Loans in Eden, Arizona

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No payday loan companies in Eden, AZ. Consider companies in other cities:

Company nameAddressZip codePhone number
Arizona Federal Credit Union - Washington Park 4475 E Van Buren St, Phoenix, AZ 85008 +1 (602) 683 - 1000
1 Stop Title Loans 940 N Alma School Rd, Chandler, AZ 85224 +1 (480) 726 - 1509
Fast Auto Loans, Inc. 4752 W Glendale Ave, Glendale, AZ 85301 +1 (623) 847 - 1037
ACE Cash Express 238 W Western Ave, Avondale, AZ 85323 +1 (623) 882 - 8333
Homeowners Financial Group 830 S Main St Suite 2-H, Cottonwood, AZ 86326 +1 (928) 295 - 7830
Big Star Finance 725 E Covey Ln 190, Phoenix, AZ 85024 +1 (888) 411 - 1033
Bay Equity Home Loans 7000 AZ-179 E200, Sedona, AZ 86351 +1 (928) 282 - 0282
Lawyers Title - Nogales 1780 N Mastick Way, Nogales, AZ 85621 +1 (520) 281 - 2387
Quik Cash 932 N Grand Ave, Nogales, AZ 85621 +1 (520) 287 - 2335
Enterprise Rent-A-Car 980 E Deuce of Clubs, Show Low, AZ 85901 +1 (928) 537 - 5144

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Eden, AZ, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in San Luis, AZ, 24-Hour Loan in Scottsdale, AZ, Quick Loan in Sierra Vista, AZ, Payday Loans in Sun City, AZ, Payday Loans in Surprise, AZ, Payday Loans in Tempe, AZ, Payday Loans in Tucson, AZ and Payday Loans in Yuma, AZ. 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 Eden, AZ.

Beautiful sights of Eden, AZ

Are Payday Loans Legal In Eden, Arizona?

Payday Lending is Prohibited in Arizona

Arizona Loan Regulations

Legal StatusProhibited
Interest Rate (APR, %)Prohibited
Maximum Loan AmountProhibited
Minimum Loan TermProhibited
Maximum Loan TermProhibited
Number of Rollovers AllowedProhibited
Finance ChargesProhibited

Eden, AZ payday loan calculator

Understanding Payday Loans in Eden, Arizona

Are you in need of quick cash to cover unexpected expenses? If you reside in Eden, Arizona, you might assume that taking out a payday loan is a viable option. However, it’s essential to understand that payday loans are prohibited in Arizona.

Payday loans are short-term, high-cost loans that typically require a post-dated check or electronic access to your bank account as collateral. In most cases, borrowers repay the loan by their next payday. However, interest rates can be as high as 400%, making it challenging to pay back the loan.

Why are Payday Loans Prohibited in Arizona?

Arizona voters decided to ban payday loans in 2010 by an over 60% majority vote. Lawmakers claimed that these loans create a cycle of debt and prey on low-income individuals who don’t have access to traditional lending options.

The Arizona Department of Financial Institutions understands that emergency financial situations can arise unexpectedly. However, they encourage individuals to seek alternative options, such as:

  • Credit unions
  • Employer-based emergency loans
  • Loan from family or friends
  • Advance payment from an employer

Interest Rate Limits

Even though payday loans are banned in Arizona, there are still high-cost consumer loans to avoid lending money at an interest rate over 36 percentage points above the published federal discount rate. Loan products like auto title loans continue to operate in Arizona and have high interest rates. This means that consumers need to be careful when looking for quick cash, even if they have a vehicle title.

Why are Payday Loans Dangerous?

Payday loans can be detrimental to your financial health for several reasons. Firstly, the interest rates on these loans are exorbitantly high, making it difficult to repay the loan amount. This creates a cycle of debt that can be challenging to break. Secondly, payday lenders often target low-income individuals and those with bad credit who cannot qualify for traditional loans. This group of borrowers is vulnerable to predatory lending practices and can easily fall into financial distress.

Statistics about Payday Loans in Arizona

  • Arizona had over 700 licensed payday loan centers before the 2010 ban.
  • In 2017, the Center for Responsible Lending estimated that Arizona residents paid over $260 million in fees for payday loans before the ban.
  • The average borrower takes out eight payday loans per year.
  • 73% of payday loan borrowers use the funds to pay off other loans.

Apply Now on TheGuaranteedLoans

While payday loans are prohibited in Arizona, it’s understandable that emergencies can crop up unexpectedly. If you need quick cash, consider applying for a personal loan at TheGuaranteedLoans. Our platform will connect you with lenders who may be able to offer flexible repayment terms, transparent terms, and more manageable interest rates. As a connector service, we don’t lend money directly; however, we facilitate the connection between borrowers and potential lenders.

Our online application process is secure, straightforward, and fast; it takes only a few minutes to apply. Once we receive your application details, we will match you with lenders who meet your needs. Get started today with TheGuaranteedLoans and take the first step towards securing your financial future.

F.A.Q.

Can I get a payday loan with bad credit in Eden, Arizona?

No, payday loans are not available in Eden, Arizona regardless of credit history.

Can I get a payday loan without a checking account in Eden, Arizona?

No, payday loans are not available in Eden, Arizona regardless of banking status.