Payday Loans in Calion, Arkansas

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

Company nameAddressZip codePhone number
Fbt Bank & Mortgage 7199 Sheridan Rd, White Hall, AR 71602 +1 (870) 247 - 9700
Agheritage Farm Credit Services 904 N Drew St, Star City, AR 71667 +1 (870) 628 - 4218
U.S. Bank Branch 1804 N 1st St, Jacksonville, AR 72076 +1 (501) 985 - 1020
IBERIABANK 10901 N Rodney Parham Rd, Little Rock, AR 72212 +1 (501) 661 - 7890
The HELPcard 203 E Emma Ave, Springdale, AR 72764 +1 (877) 834 - 0550
Walmart Money Center 157 Gary Hatfield Way, Huntsville, AR 72740 +1 (479) 738 - 2001
Revenue Department 100 W 1st St 11, Waldron, AR 72958 +1 (479) 637 - 3661
Twin City Auto Pawn & Loan Co 3616 Midland Blvd, Fort Smith, AR 72904 +1 (479) 783 - 7296
Helena National Bank: Hirons Shannon 1812 Falls Blvd, Wynne, AR 72396 +1 (870) 208 - 9775
Whitmire Robinson & Co 200 PSE Rd, Newport, AR 72112 +1 (870) 523 - 4346

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Calion, AR, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Jonesboro, AR, Payday Loan Companies in Little Rock, AR, Emergency Loan in North Little Rock, AR, Payday Loans in Pine Bluff, AR, Payday Loan Without a Credit Check in Rogers, AR, Payday Loan Companies in Sherwood, AR, Same Day Loans in Springdale, AR and Payday Loans in Texarkana, 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 Calion, AR.

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

71724

Are Payday Loans Legal In Calion, 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

Calion, AR payday loan calculator

Payday Loans in Calion, Arkansas: What You Need to Know

If you’re looking for a payday loan in Calion, Arkansas, you should know that payday loans are prohibited in Arkansas. This means that if you’re in need of quick cash, you’ll need to explore other options. In this article, we’ll discuss what a payday loan is, why they’re prohibited in Arkansas, and what alternatives you can consider if you’re in need of a short-term loan in Calion.

What Is a Payday Loan?

A payday loan is a short-term loan that is usually due on your next payday. These loans are typically small, with the average loan amount being around $350. Payday lenders make money by charging high interest rates and fees on these loans. According to the Consumer Financial Protection Bureau (CFPB), payday loans can have interest rates as high as 400%. These high interest rates and fees can quickly trap borrowers in a cycle of debt.

Why Are Payday Loans Prohibited in Arkansas?

Payday loans are prohibited in Arkansas under the Arkansas Check Cashers Act. This law, which was passed in 2009, prohibits payday lenders from charging more than 17% interest on loans. This effectively makes payday lending unprofitable in Arkansas. In addition, the Arkansas Attorney General’s office has taken legal action against payday lenders who attempt to circumvent this law by partnering with out-of-state banks or offering loans online.

Alternatives to Payday Loans in Calion, Arkansas

If you’re in need of a short-term loan in Calion, Arkansas, there are several alternatives to payday loans that you can consider:

  • Credit Cards: If you have a credit card, you may be able to use it to make a purchase or withdraw cash. While credit cards can have high interest rates, they’re usually much lower than payday loan interest rates.
  • Personal Loans: Personal loans are installment loans that are paid back over time. You can apply for a personal loan from a bank, credit union, or online lender. Interest rates on personal loans can vary widely, so it’s important to shop around and compare offers from multiple lenders.
  • Credit Counseling: If you’re struggling with debt, you may be able to get help from a credit counseling agency. These agencies can work with you to create a budget and negotiate with your creditors to lower interest rates and payments.
  • Side Hustles: If you’re in need of extra cash, you can consider taking on a side gig, such as freelancing, pet-sitting, or driving for a ride-sharing service.

Interesting Facts and Statistics

  • According to the Arkansas Attorney General’s office, payday lenders in Arkansas charged an average interest rate of 582% in 2015
  • In 2018, Arkansas voters approved a ballot initiative to cap interest rates on payday loans at 36%
  • Arkansas is one of 18 states that have prohibited payday lending

Apply Now

If you’re in need of a short-term loan in Calion, Arkansas, TheGuaranteedLoans can help you connect with potential lenders. Our online application process is fast and easy, and we work with lenders who offer a variety of loan types and repayment terms. Please note that TheGuaranteedLoans is a connector service, not a direct lender. That means that we don’t make credit decisions and we don’t lend money. Instead, we facilitate your connection with potential lenders who may be able to offer you a loan.

The Bottom Line

While payday loans may seem like a quick and easy solution to financial problems, they often come with high interest rates and fees that can trap borrowers in a cycle of debt. If you’re in need of a short-term loan in Calion, Arkansas, consider the alternatives we’ve outlined in this article, and don’t hesitate to reach out to TheGuaranteedLoans for help connecting with potential lenders.

F.A.Q.

Can a payday loan company garnish my wages in Calion, Arkansas?

No, a payday loan company cannot garnish your wages in Calion, Arkansas because these loans are illegal in the state.

Can a payday loan company repossess my property in Calion, Arkansas?

No, a payday loan company cannot repossess your property in Calion, Arkansas because these loans are illegal in the state.