Payday Loans in Gillham, Arkansas

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

Company nameAddressZip codePhone number
Randy Roebuck - Raymond James 633 W Lancashire Blvd, Bella Vista, AR 72715 +1 (479) 855 - 5800
Arvest Bank 1627 US-62, Mountain Home, AR 72653 +1 (870) 508 - 8500
Arvest Bank 1930 Fayetteville Rd, Van Buren, AR 72956 +1 (479) 709 - 6400
Ron Martindale - Mortgage Advisor - United Federal Credit Union 2000 S Promenade Blvd Ste 103, Rogers, AR 72758 +1 (479) 358 - 8315
Andy's Pawn & Gun Shop 2113 Dodson Ave, Fort Smith, AR 72901 +1 (479) 783 - 3658
UNIFY Financial Credit Union 1205 W Walnut St, Rogers, AR 72756 +1 (877) 254 - 9328
Bank OZK 100 AR-5, Mountain Home, AR 72653 +1 (870) 424 - 3304
Simmons Bank 728 Hwy 65 82 South, Lake Village, AR 71653 +1 (870) 265 - 5366
Signature Bank of Arkansas 700 SE Walton Blvd 2, Bentonville, AR 72712 +1 (479) 254 - 2970
Merrill Self Storage 1009 Batesville Blvd, Batesville, AR 72501 +1 (870) 251 - 5050

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Gillham, AR, you can try to find different companies in big cities near by. Check out the following pages here: Same Day Loans in North Little Rock, AR, Payday Loans in Pine Bluff, AR, Payday Loans in Rogers, AR, Payday Loan Companies in Sherwood, AR, Quick Loan in Springdale, AR, Payday Loans in Texarkana, AR, Payday Loan Companies in Benton, AR and 24-Hour Loan in Bentonville, 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 Gillham, AR.

Beautiful sights of Gillham, AR

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

71841

Are Payday Loans Legal In Gillham, 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

Gillham, AR payday loan calculator

Payday Loans in Gillham, Arkansas: What You Need To Know

Payday loans are marketed as short-term loans that provide quick cash to borrowers when they need it the most. However, these loans come with extremely high-interest rates, trapping borrowers in a cycle of debt that can be difficult to escape. Although payday loans have been prohibited in Arkansas since 2008, it’s important to understand the impact they’ve had on towns like Gillham, Arkansas, where payday lending was once prevalent.

The History of Payday Lending in Arkansas

Arkansas had one of the strongest usury laws in the country until payday lenders found a loophole in the state’s credit code. This legal loophole allowed payday lenders to charge interest rates as high as 400%. As a result, countless borrowers in Arkansas were caught in a cycle of unaffordable debt.

In 2008, the Arkansas Supreme Court ruled that payday lending violates the state’s constitution and therefore is illegal. As of today, payday lenders are not permitted to offer payday loans to residents of Arkansas, including the small town of Gillham.

The Impact of Payday Lending on Gillham

The impact of payday lending on small towns and rural areas is often overlooked compared to major metropolitan areas. However, Gillham residents share similar stories of predatory lenders taking advantage of vulnerable communities. Before payday lending was outlawed in Arkansas, Gillham had a high concentration of payday lenders, making it difficult for residents to break free from the debt cycle.

According to the Arkansas Advocates for Children and Families, payday lending carried a steep cost for Arkansas residents. In 2005 alone, Arkansas residents paid over $25 million in fees for payday loans. As a result, many communities, including Gillham, found themselves struggling to climb out of debt.

Interesting Facts and Statistics

  • Payday lending was outlawed in Arkansas in 2008.
  • In 2005, Arkansas residents paid over $25 million in fees for payday loans.
  • Arkansas has one of the strongest usury laws in the country.
  • Communities with a high concentration of payday lenders can become trapped in cycles of debt.
  • Many low-income communities in the United States have limited access to banking services and rely on payday lenders for financial support.

Apply Now with TheGuaranteedLoans

While payday lending is illegal in Arkansas, unexpected expenses can still arise, leaving residents in need of quick cash. That’s where TheGuaranteedLoans comes in. As a connector service, we link borrowers to potential lenders who meet their financial needs. By filling out our online application, you can receive offers from lenders who are willing to work with you, regardless of your credit score.

Our platform is designed to make the borrowing process as simple and straightforward as possible. Once you fill out our application, we will work to connect you with one of our trusted lending partners, provided you meet the requirements. TheGuaranteedLoans is not a direct lender, meaning we cannot guarantee loan approval, but we will do our best to provide you with multiple options to choose from.

Conclusion

Payday loans in Gillham, Arkansas, and other areas in the state, have had a significant impact on the financial well-being of its residents. While the banning of payday lending in the state is a step in the right direction, vulnerable communities continue to struggle with limited access to financial services. By working with TheGuaranteedLoans, residents of Arkansas can gain access to trusted lenders who may be able to help them navigate unexpected financial challenges.

F.A.Q.

Can I get a payday loan with bad credit in Gillham, Arkansas?

No, payday loans are not available in Gillham, Arkansas regardless of credit history.

Can I get a payday loan without a checking account in Gillham, Arkansas?

No, payday loans are not available in Gillham, Arkansas regardless of banking status.