Payday Loans in El Paso, Arkansas

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

Company nameAddressZip codePhone number
Eagle Bank Mortgage 805 Monroe St 105, Conway, AR 72032 +1 (501) 504 - 2200
Carter Credit Union 45 US-79, Magnolia, AR 71753 +1 (870) 234 - 1964
Anstaff Bank 140 Madison 8731, Huntsville, AR 72740 +1 (479) 738 - 1111
BancorpSouth Bank 1901 W Parker Rd, Jonesboro, AR 72404 +1 (870) 972 - 4700
Farm Credit of Western Arkansas - Harrison West, 129 Industrial Park Rd, Harrison, AR 72601 +1 (870) 741 - 2020
Walmart Money Center 1621 AR-9 BUS, Morrilton, AR 72110
Regions Bank 2400 E Highland Dr, Jonesboro, AR 72401 +1 (870) 974 - 5309
Union Bank & Trust Co. 102 W McCloy St, Monticello, AR 71655 +1 (870) 460 - 6400
Porter's Pawn & Bargain Center Porter's Jewelry 102 W Commercial St, Harrison, AR 72601 +1 (870) 741 - 5626
Arvest Bank 504 W Collin Raye Dr, De Queen, AR 71832 +1 (870) 642 - 2911

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in El Paso, AR, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Benton, AR, Online Loans in Bentonville, AR, Payday Loans in Conway, AR, Payday Loan Without a Credit Check in Fayetteville, AR, Payday Loans in Fort Smith, AR, Payday Loans in Jonesboro, AR, Payday Loans in Little Rock, AR and Payday Loans in North Little Rock, 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 El Paso, AR.

Are Payday Loans Legal In El Paso, 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

El Paso, AR payday loan calculator

Understanding Payday Loans in El Paso, Arkansas

Payday loans are short-term loans that are designed to help people meet their financial needs until their next payday. In most cases, these loans are taken out by people who are facing a cash crunch and who need to pay their bills or other expenses.

In El Paso, Arkansas, payday loans are prohibited. According to the Arkansas Attorney General, any lender who offers payday loans to Arkansas residents is violating the state’s usury laws.

Why are Payday Loans Prohibited in Arkansas?

Arkansas is one of the states that has taken a strong stance against payday lending. The state passed legislation in 2009 that limited the interest rate on payday loans to 17 percent. This rate is much lower than the interest rates that are typically charged by payday lenders, which can be as high as 400 percent or more.

Additionally, payday lenders have been accused of engaging in predatory lending practices that target low-income borrowers. Many borrowers find themselves trapped in a cycle of debt, where they take out multiple loans to cover their bills, only to find themselves unable to repay those loans and falling deeper into debt.

What are the Alternatives to Payday Loans in El Paso, Arkansas?

If you are facing a financial emergency and you live in El Paso, Arkansas, there are several alternatives to payday loans that you may want to consider. Some of these alternatives include:

  • Credit Counseling: Credit counseling is a service that can help you create a budget, manage your debts, and improve your credit score. Many credit counseling agencies offer their services for free or for a nominal fee.
  • Installment Loans: Installment loans are another type of short-term loan that are designed to help borrowers who need cash quickly. Unlike payday loans, which must be repaid in full on your next payday, installment loans allow you to make payments over time.
  • Credit Cards: If you have a credit card, you may be able to use it to cover your expenses. While credit cards often have higher interest rates than other types of loans, they can be a good option if you need to make a large purchase or if you need to cover several bills at once.

Interesting Facts about Payday Loans in El Paso, Arkansas:

  • In 2016, the Arkansas Supreme Court ruled that payday lending violates Arkansas’s state constitution, which prohibits usurious interest rates.
  • According to a report by the Consumer Financial Protection Bureau, the average payday loan borrower takes out 10 loans per year and spends 199 days in debt each year.
  • In 2017, the Arkansas legislature passed a bill that allowed payday lenders to charge up to 17 percent interest on loans. However, this legislation was later overturned by the Arkansas Supreme Court.

Apply Now

If you are in need of a loan and you live in El Paso, Arkansas, we can help. At TheGuaranteedLoans, we offer a free online loan application that can connect you with lenders who are willing to lend you money. Please note that we are not a lender and that we do not make credit decisions. Our service is designed to connect borrowers with lenders who may be able to help them meet their financial needs. If you are ready to apply for a loan, please visit our website and fill out our online application.

F.A.Q.

Are there any other options for fast cash in El Paso, Arkansas?

Consumers in El Paso, Arkansas may be able to access funds through a credit union or bank loan, or by using a credit card or personal loan. It is also possible to sell assets or ask friends or family for financial assistance.

Are payday loans legal in El Paso, Arkansas?

No, payday loans are prohibited in the state of Arkansas.