Payday Loans in Arkansas City, Arkansas

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

Company nameAddressZip codePhone number
Centennial Bank 2404 Linwood Dr, Paragould, AR 72450 +1 (870) 215 - 4895
Regions Bank 2153 Malcolm Ave, Newport, AR 72112 +1 (870) 201 - 2440
HomeBank of Arkansas 61 S Broadview St A, Greenbrier, AR 72058 +1 (501) 679 - 7283
Mountain Man Supplies And Pawn 1650 S School Ave 7149, Fayetteville, AR 72701 +1 (479) 443 - 5158
Regions Bank 801 Commerce St, Earle, AR 72331 +1 (870) 792 - 8613
Arkansas Federal Credit Union 1221 S Shackleford Rd, Little Rock, AR 72211 +1 (501) 982 - 1000
Regions Bank 400 W Capitol Ave, Little Rock, AR 72201 +1 (501) 371 - 7000
Southern Title & Closing 417 North Washington, Magnolia, AR 71753 +1 (870) 234 - 8500
First Arkansas Financial, Inc 906 S Rock St, Sheridan, AR 72150 +1 (870) 942 - 5050
Centennial Bank 211 E Washington Ave, Jonesboro, AR 72401 +1 (870) 268 - 2390

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Arkansas City, AR, you can try to find different companies in big cities near by. Check out the following pages here: Short-term Loans in Bentonville, AR, Payday Loan Companies in Conway, AR, Payday Loans in Fayetteville, AR, Payday Loans in Fort Smith, AR, Guaranteed Loans in Jonesboro, AR, Payday Loans in Little Rock, AR, Payday Loan for North Little Rock, AR and Payday Loans in Pine Bluff, 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 Arkansas City, AR.

Beautiful sights of Arkansas City, AR

Payday Loans Available in Arkansas City, AR By The Following ZIP Codes:

71630

Are Payday Loans Legal In Arkansas City, 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

Arkansas City, AR payday loan calculator

Payday loans are available in many states throughout the United States, however, they are prohibited in Arkansas. This means that individuals living in Arkansas City, Arkansas, are unable to acquire payday loans from any lender within the state. The law passed by the Arkansas state government prohibits the practice, which makes it illegal to issue payday loans in Arkansas.

So, what exactly are payday loans?

Payday loans are a short-term loan form that grants people quick access to cash. Usually, these types of loans are due on the borrower’s next payday. If the borrower is unable to repay the loan on the due date, additional charges and fees will be added to the loan’s balance.

Payday loans are typically used by people who need quick cash for an emergency, such as a car repair bill or a medical expense. Unfortunately, because of their high-interest rates, these types of loans are prone to trapping borrowers in a cycle of debt.

Payday loans in Arkansas City, Arkansas – the Law

As mentioned earlier, payday loans are prohibited in the state of Arkansas. This law was enacted after the Arkansas state government deemed that the high-interest rates and fees associated with payday loans were too high, making it impossible for borrowers to pay back the debts on a timely basis.

Therefore, there is no lender within the state of Arkansas, including Arkansas City, who is authorized to issue payday loans. Any lender or an unlicensed lender who issues payday loans is subject to legal consequences under state law.

The Alternatives to Payday Loans

While payday loans may seem like a quick solution to urgent cash needs, they are not the only option for people in Arkansas City, Arkansas. To address the problem of requiring quick cash, the following alternatives can be sought out:

1. Personal Loans

Personal loans can be issued by banks or credit unions. These types of loans are generally long-term and have lower interest rates than payday loans. The borrower is given the option to pay back the loan amount over a longer period.

2. Credit Cards

Credit cards have higher interest rates than personal loans, but they are still a better option than payday loans. If the borrower has a credit card, they can withdraw cash from it to pay for their emergency without having to pay the high-interest rates offered by payday lenders.

3. Payment Plan Arrangements

For people who need to make a payment, such as medical bills, utilities, or rent, most companies offer payment plan arrangements. These arrangements permit the payment to be made over a period of time in smaller increments without accruing interest or fees.

Interesting facts and statistics about payday loans in Arkansas City, Arkansas

  • Arkansas is the only state in the United States to prohibit payday loans
  • Borrowers in Arkansas who have to repay a payday loan spent, on average, 37% of their monthly income on those loans. This is more than three times the average percentage other borrowers across the country are spending
  • In 2008, the Arkansas Supreme Court avowed that the state’s consumer protection laws apply to out-of-state payday lenders that offer loans online to Arkansas borrowers

Apply Now

If you’re searching for ways to address your financial emergencies, TheGuaranteedLoans could help you find lenders offering personal loans and other kinds of loans. We are a connector service linking borrowers and potential lenders. Our application process is easy and straightforward, and no matter your credit history or background, we can provide you with the most suitable options.

We encourage you to apply today to explore your options and prevent financial encumbrance. Remember, TheGuaranteedLoans is not a direct lender and does not guarantee loan approval, but we connect borrowers to a wide network of potential lenders providing a wide range of loans, including short-term loans, installment loans, and personal loans.

F.A.Q.

What are the alternatives to payday loans in Arkansas City, Arkansas?

Consumers in Arkansas City, Arkansas can seek out small, short-term loans from credit unions or banks, or can consider using a credit card or personal loan for financial emergencies.

Why are payday loans prohibited in Arkansas City, Arkansas?

Payday loans are prohibited in Arkansas City, Arkansas due to their high interest rates and fees, which can trap consumers in a cycle of debt.