Payday Loans in Branch, Arkansas

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

Company nameAddressZip codePhone number
Subiaco Federal Credit Union 243 Conrad St, Subiaco, AR 72865 +1 (479) 934 - 4201
Title Guaranty Co 100 E North St, Magnolia, AR 71753 +1 (870) 234 - 1291
Bank OZK 2305 E Parkway Dr, Russellville, AR 72802 +1 (479) 890 - 3913
Angela Wilcoxon, Southern Bank Lender, NMLS 1804456 1583 S St Louis St, Batesville, AR 72501 +1 (870) 612 - 1212
AG Heritage Farm Credit Services 119 E 3rd St, Little Rock, AR 72201 +1 (501) 210 - 4000
Regions Bank 1512 W Court St, Paragould, AR 72450 +1 (870) 586 - 5340
First National Bank of Fort Smith 311 E Center St, Greenwood, AR 72936 +1 (479) 788 - 4600
Centennial Bank 582 AR-365, Mayflower, AR 72106 +1 (501) 328 - 4810
Arvest Bank 317 E Pridemore Dr, Lincoln, AR 72744 +1 (479) 575 - 1000
United Federal Credit Union - Promenade 2000 S Promenade Blvd Suite 103, Rogers, AR 72758 +1 (888) 982 - 1400

Payday Loan Companies in Nearby Cities

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

Beautiful sights of Branch, AR

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

72928

Are Payday Loans Legal In Branch, 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

Branch, AR payday loan calculator

Payday loans can be a highly controversial topic, especially considering they are prohibited in Branch, Arkansas. Unfortunately, for individuals who are in need of quick, short-term loans, payday loans can seem like a viable option. However, it is important to understand the risks and consequences of taking out a payday loan, especially in a state where they are illegal.

The Basics of Payday Loans

Payday loans are short-term loans that are typically due on the borrower’s next payday. The loans can range from as little as $50 to as much as $1000, and they come with high interest rates and fees. In states where payday loans are legal, borrowers can typically obtain a loan by writing a check for the amount borrowed, plus fees, and postdating the check to their next payday. If the borrower is unable to pay back the loan on their next payday, the lender can cash the postdated check.

Why Payday Loans are Prohibited in Arkansas

Payday loans have been prohibited in Arkansas since 2008. The state believes that payday loans offer no real benefit to consumers, as they are typically used by individuals who are already in a precarious financial situation. The interest rates and fees associated with payday loans can be so high that borrowers can quickly fall into a cycle of debt. Additionally, payday lenders have been known to use aggressive and unethical tactics to collect on loans, which can cause undue stress and financial strain for borrowers.

Instead, the state of Arkansas encourages borrowers to seek alternative forms of credit. There are numerous credit counseling services available throughout the state that can provide free or low-cost financial assistance to individuals in need. Additionally, local charities and non-profit organizations can often provide assistance with paying bills or securing food and shelter.

The Risks of Payday Loans

The risks associated with payday loans can be significant, especially for individuals who are already struggling financially. The high-interest rates and fees can make it difficult to pay back the loan on time, which can lead to a cycle of debt. Additionally, the aggressive collection tactics used by some payday lenders can cause undue stress and anxiety, which can further exacerbate an individual’s financial situation.

Another risk associated with payday loans is the potential for fraud. Unfortunately, there are many predatory lenders who take advantage of individuals in need, offering loans with impossible-to-meet repayment terms, exorbitant interest rates, and hidden fees. These lenders often operate outside the law, making it difficult for borrowers to take legal action against them.

Alternatives to Payday Loans

There are numerous alternatives to payday loans that individuals in Branch, Arkansas can explore. For example, traditional personal loans from banks or credit unions can offer a much lower interest rate and more favorable repayment terms. Additionally, credit unions may offer payday loan alternatives, such as small-dollar loans with low interest rates and longer repayment terms.

Another option is to seek assistance from friends or family members. While it can be difficult to ask for help, borrowing from someone you trust can be a much safer alternative to payday loans. Alternatively, local charities and non-profit organizations can often provide financial assistance, including emergency loans or grants.

Interesting Facts or Statistics about Payday Loans in Branch, Arkansas

  • In 2016, the state of Arkansas filed a lawsuit against payday lenders for offering loans with interest rates of up to 500%.
  • While payday loans are prohibited in Arkansas, neighboring states such as Tennessee, Mississippi, and Louisiana still allow them.
  • The average payday loan borrower takes out eight loans per year, with an average loan amount of $375.
  • Payday lenders have been known to target low-income individuals, minorities, and the elderly, who are often in the most precarious financial situations.

Apply Now with TheGuaranteedLoans

If you are in need of a short-term loan, we encourage you to apply now with TheGuaranteedLoans. We are a connector service, meaning we will connect you with potential lenders who may be able to offer you a loan. However, it is important to note that we are not a direct lender, nor do we make loan decisions. Instead, we facilitate the connection between borrowers and lenders, with the goal of helping you find the right loan for your unique financial situation.

When you apply with TheGuaranteedLoans, you can rest assured that your personal and financial information will be kept confidential and secure. Our application process is simple and straightforward, and we can often connect borrowers with lenders within minutes. So why wait? Apply now and take the first step toward securing the loan you need.

F.A.Q.

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

Consumers in Branch, 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 Branch, Arkansas?

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