Payday Loans in Cave Springs, Arkansas

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

Company nameAddressZip codePhone number
Raymond James & Associates 900 W Main St, Russellville, AR 72801 +1 (479) 498 - 4949
Farm Credit of Western Arkansas - Benton 1207 Ferguson Dr, Benton, AR 72015 +1 (501) 860 - 6391
Arvest Bank 504 W Collin Raye Dr, De Queen, AR 71832 +1 (870) 642 - 2911
Farm Credit of Western Arkansas - Glenwood 131 US-70, Glenwood, AR 71943 +1 (870) 356 - 2023
Herb Hyman: IBERIABANK Mortgage 98 Block St B, Marion, AR 72364 +1 (870) 733 - 0382
Bill's Pawn Shop 426 N West Ave, El Dorado, AR 71730 +1 (870) 862 - 1425
BancorpSouth Bank 1833 Linwood Dr, Paragould, AR 72450 +1 (870) 240 - 0208
Helena National Bank: Hirons Shannon 1812 Falls Blvd, Wynne, AR 72396 +1 (870) 208 - 9775
First State Bank of Nashville 422 Isaac C. Perkins Bypass, Nashville, AR 71852 +1 (870) 451 - 9994
Helena National Bank 1025 US 49, Marvell, AR 72366 +1 (870) 829 - 2596

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Cave Springs, 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, 24-Hour Loan in Jonesboro, AR, Payday Loans in Little Rock, AR, Payday Loan Without a Credit Check in North Little Rock, AR, Online Loans in Pine Bluff, AR, Online Loans in Rogers, AR, Guaranteed Loans in Sherwood, AR and Payday Loan Companies 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 Cave Springs, AR.

Beautiful sights of Cave Springs, AR

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

72718

Are Payday Loans Legal In Cave Springs, 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

Cave Springs, AR payday loan calculator

While payday loans can offer quick financial relief for those facing unexpected bills or emergencies, it is important to note that they are illegal in the state of Arkansas, including the city of Cave Springs. Although payday lenders may be found elsewhere in the country, there are no legal payday lenders in Arkansas, and residents should be cautious of potential scams or predatory lending practices.

What are payday loans?

A payday loan is a small, short-term loan that is often marketed as a way to help tide borrowers over until their next paycheck. The loans typically have high interest rates and fees, and are generally due to be repaid on the borrower’s next payday.

In Arkansas, payday lending is prohibited under the Check-Cashers Act of 1999, which sets a maximum interest rate of 17% on short-term loans. This effectively makes payday lending illegal in the state, as lenders cannot legally charge the high rates and fees typically associated with these loans.

What are the risks?

Payday loans can be tempting for those facing financial difficulties, as they offer quick cash without the need for a credit check or extensive documentation. However, these loans come with significant risks, including extremely high interest rates and fees that can quickly trap borrowers in a cycle of debt.

In addition to the financial risks, payday lenders have been known to engage in predatory lending practices, such as misleading borrowers about the terms of their loans or failing to disclose the full costs of borrowing. This can leave borrowers in even worse financial situations than they were in before taking out the loan.

Alternatives to payday loans

For those in need of quick cash, there are alternatives to payday loans that may be more affordable and less risky. These include:

  • Personal loans: If you have good credit, a personal loan from a bank or credit union may offer lower interest rates and fees than a payday loan.
  • Credit counseling: A credit counselor can help you create a budget and develop a plan to pay off your debts.
  • Community resources: Local organizations may offer emergency financial assistance or other resources to help those facing financial hardships.

Interesting Facts and Statistics

  • According to a report by the Arkansas Advocates for Children and Families, over 300,000 Arkansans live below the poverty line, accounting for 10% of the population.
  • In 2016, the Arkansas Supreme Court ruled that payday lenders could not use criminal charges to collect debts from borrowers who had defaulted on their loans.
  • A survey by the Center for Responsible Lending found that the average payday borrower in Arkansas paid almost $500 in fees for a $375 loan, due to repeat borrowing and rollovers.

Apply Now

While payday lending is prohibited in Arkansas, TheGuaranteedLoans offers a connection service to potential lenders that may offer personal loans or other financial products that meet your needs. To apply for a loan, fill out our online application, and we will connect you with a lender that may offer the loan you need. Remember, we are not a direct lender, but a connector service that helps you find the right loan for your needs.

F.A.Q.

Are payday loans legal in Cave Springs, Arkansas?

No, payday loans are prohibited in Cave Springs, Arkansas.

What are the alternatives to payday loans in Cave Springs, Arkansas?

Some options for short-term financial assistance in Cave Springs, Arkansas include credit union loans, personal loans from banks or online lenders, or borrowing from friends or family.