Payday Loans in Bergman, Arkansas

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

Company nameAddressZip codePhone number
Eubanks Tax Services 2443 AR-22, Dardanelle, AR 72834 +1 (479) 229 - 1375
Jackson Hewitt Tax Service 907 E Main St, Magnolia, AR 71753 +1 (870) 234 - 8077
TruService Community Federal Credit Union 1553 Washington Ave, Conway, AR 72032 +1 (501) 225 - 3636
Alma Tractor & Equipment, Inc. 35 N Hwy 71 N, Alma, AR 72921 +1 (479) 632 - 6300
Bank OZK 3650 N State Hwy 7, Hot Springs Village, AR 71909 +1 (501) 922 - 1699
Simmons Bank 3079 E Main St, Russellville, AR 72801 +1 (479) 967 - 8500
Bank OZK 305 N Jackson, Magnolia, AR 71753 +1 (870) 234 - 7039
Mr Kwik Cash 603 E 1st Ave, Crossett, AR 71635 +1 (870) 364 - 5845
Twin City Auto Pawn & Loan Co 3616 Midland Blvd, Fort Smith, AR 72904 +1 (479) 783 - 7296
Bank OZK 1405 E Walnut St, Paris, AR 72855 +1 (479) 963 - 1100

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Bergman, AR, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Fort Smith, AR, Payday Loans in Jonesboro, AR, Payday Loans in Little Rock, AR, Payday Loans in North Little Rock, AR, Payday Loans in Pine Bluff, AR, No Credit Check Loans in Rogers, AR, Payday Loans in Sherwood, AR and Payday Loans in Springdale, 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 Bergman, AR.

Beautiful sights of Bergman, AR

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

72615

Are Payday Loans Legal In Bergman, 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

Bergman, AR payday loan calculator

In Bergman, Arkansas, payday loans are prohibited. However, understanding the basics of these types of loans can be helpful in managing one’s finances and avoiding potential pitfalls. Below, we will provide insight into payday loans, how they work, and why they are prohibited in Arkansas.

What are payday loans?

Payday loans are typically short-term loans that are due on the borrower’s next payday. These loans are usually for small amounts, typically no more than a few hundred dollars, and come with high interest rates and fees. They are intended to help borrowers who need cash quickly and cannot access other forms of credit.

The application process for payday loans is typically fast and simple. Lenders may require proof of income, a bank account, and a social security number. Funds are often disbursed quickly and can be available within 24 hours of loan approval. Repayment terms are usually 14-30 days, or until the borrower’s next payday.

Why are payday loans prohibited in Arkansas?

In 2008, Arkansas voters approved a ballot initiative that prohibited payday lending in the state. The Arkansas Constitution was amended to include the following language: “No payday loan may have a maximum term of less than 31 days and shall not exceed $400.” Due to this constitutional amendment, payday loans are not legally available to consumers in Arkansas.

The reasoning behind the ban on payday loans is that they often come with exorbitantly high interest rates and fees, which can trap borrowers in cycles of debt. Many borrowers may not fully comprehend the terms of their loans, and some lenders may engage in predatory practices.

If you are a resident of Bergman, Arkansas, you should not take out a payday loan as they are illegal. Instead, consider exploring other forms of credit such as personal loans or credit cards. If you find yourself in financial hardship, seek the advice of a qualified financial counselor or advisor.

Interesting facts and statistics about payday loans in Arkansas

  • Arkansas has the lowest percentage of unbanked households in the United States, with only 7.5% of households lacking access to basic financial services.
  • Since the payday lending ban was implemented in Arkansas, many borrowers have turned to online lenders who claim to be based on tribal lands where state laws do not apply.
  • In 2019, the Arkansas Attorney General filed a lawsuit against a group of online payday lenders, claiming that they were violating state lending laws.

Apply Now

If you are in need of funds and cannot access traditional forms of credit, TheGuaranteedLoans can help connect you with potential lenders. We are a connector service, not a direct lender, and work with various reputable lenders to provide you with options that meet your needs.

We strive to provide our customers with fast and secure loan processing, with funds available in as little as 24 hours. Simply fill out our online application, and we will facilitate the connection between you and our network of potential lenders.

Remember to consider all lending options available to you, including personal loans, credit cards, and options for financial counseling. Borrowing money is a serious financial decision, and understanding the terms and conditions of any loan is important in making a sound choice.

F.A.Q.

Are there any alternatives to payday loans in Bergman, Arkansas?

Yes, there are several alternatives to payday loans in Bergman, Arkansas, including credit unions, community development financial institutions, and small-dollar loan programs offered by banks and credit unions.

Can I still take out a payday loan if I live in Bergman, Arkansas but the lender is based in another state?

No, it is illegal for payday lenders to offer loans to residents of Arkansas, regardless of where the lender is located.