Payday Loans in Alix, Arkansas

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No payday loan companies in Alix, AR. Consider companies in other cities:

Company nameAddressZip codePhone number
Homebank of Arkansas 113 US-165, Portland, AR 71663 +1 (870) 737 - 2235
Andy's Pawn & Gun Shop 2113 Dodson Ave, Fort Smith, AR 72901 +1 (479) 783 - 3658
Bank of Lake Village 201 Main St, Lake Village, AR 71653 +1 (870) 265 - 2241
Ameriprise Financial Services, Inc. 515 N Jackson St, Magnolia, AR 71753 +1 (800) 297 - 4575
Simmons Bank 1720 S Caraway Rd, Jonesboro, AR 72401 +1 (870) 933 - 8000
First State Bank of Nashville 422 Isaac C. Perkins Bypass, Nashville, AR 71852 +1 (870) 451 - 9994
Simmons Bank 2401 Crestwood Rd, North Little Rock, AR 72116 +1 (501) 771 - 5310
Fort Smith Dixie Cup Fed CU 4411 Midland Blvd, Fort Smith, AR 72904 +1 (479) 782 - 3133
Walmart Money Center 406 E 22nd St, Stuttgart, AR 72160
Cbay Trading and loan 1607 S Knoxville Ave, Russellville, AR 72802 +1 (479) 219 - 5077

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Alix, AR, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Pine Bluff, AR, Payday Loans in Rogers, AR, Emergency Loan in Sherwood, AR, No Credit Check Loans in Springdale, AR, Payday Loans in Texarkana, AR, Quick Loan in Benton, AR, 24-Hour Loan in Bentonville, AR and Payday Loans in Conway, AR. 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 Alix, AR.

Are Payday Loans Legal In Alix, Arkansas?

Payday Lending is Prohibited in Arkansas

Arkansas Loan Regulations

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

Alix, AR payday loan calculator

Payday Loans in Alix, Arkansas – What You Need to Know

Payday loans are small-dollar loans that are typically taken out for a few weeks or until the borrower’s next payday. They are designed to help borrowers who are in need of immediate cash and do not have access to other forms of credit. However, in the state of Arkansas, payday loans are prohibited, including in the town of Alix.

Why Payday Loans are Prohibited in Alix, Arkansas

In 2008, the Arkansas state legislature passed the Arkansas Check Cashers Act which banned payday loans in the state. This was due to the high interest rates and fees associated with these loans, which often led borrowers to become trapped in a cycle of debt. While some lenders attempted to circumvent the law by offering online payday loans, the state attorney general’s office has cracked down on these lenders as well.

The Alternatives to Payday Loans in Alix, Arkansas

While payday loans are prohibited in Alix and the rest of Arkansas, there are other options for residents in need of quick cash:

  • Personal loans: Some credit unions and banks offer personal loans with lower interest rates and fees than payday loans.
  • Credit cards: If you have a credit card, you may be able to use it to cover unexpected expenses.
  • Credit counseling: If you are struggling with debt, credit counseling may be able to help you create a budget and manage your finances.
  • Cash advance: Some employers offer cash advances to employees in need of emergency funds.

Interesting Facts and Statistics

  • Before the Arkansas Check Cashers Act was passed, payday loans in the state had an average interest rate of 574%
  • In 2019, the Consumer Financial Protection Bureau proposed rescinding federal regulations on payday loans, which would have allowed lenders to charge interest rates as high as 400% in some cases.
  • The average payday loan borrower takes out eight loans per year and spends $520 on interest and fees alone.

Apply Now

If you are in need of cash and are considering a payday loan, it’s important to understand that they are illegal in Alix and the rest of Arkansas. However, TheGuaranteedLoans can help connect you with lenders who may be able to offer alternative forms of credit. Our online application process is quick and simple, and we work with a network of trusted lenders. Remember to borrow only what you can afford to pay back and to always read the terms and conditions of any loan agreement carefully.

Please note, TheGuaranteedLoans is a connection service and not a direct lender. By submitting your information, you agree to be contacted by potential lenders in our network and to receive marketing messages from us. You can opt out of receiving marketing messages at any time.

F.A.Q.

How do I know if a lender is offering illegal payday loans in Alix, Arkansas?

Lenders offering illegal payday loans in Alix, Arkansas may not be licensed by the state and may have high interest rates and fees that are not allowed under state law.

What can I do if I have taken out an illegal payday loan in Alix, Arkansas?

If you have taken out an illegal payday loan in Alix, Arkansas, you can contact the Arkansas State Department of Financial Services to report the lender and seek assistance in resolving the issue.