Payday Loans in Lamar, Arkansas

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

Company nameAddressZip codePhone number
Arvest Bank 1500 E Harding St, Morrilton, AR 72110 +1 (501) 477 - 5310
Money Co USA 509 US-425, Monticello, AR 71655 +1 (870) 460 - 4784
Merrill Lynch Wealth Management 824 Salem Rd, Conway, AR 72034 +1 (501) 328 - 4403
Merchants & Farmers Bank 3512 AR-5 N, Bryant, AR 72019 +1 (501) 847 - 4141
Hope Credit Union 8411 I-30 Frontage Rd, Little Rock, AR 72209 +1 (501) 562 - 1060
Mexico Transfers, Inc. 6312, 1102 S Thompson St S, Springdale, AR 72764 +1 (800) 650 - 2771
First Security Bank Main 205 W Pine St, Cabot, AR 72023 +1 (501) 941 - 2265
Auto Credit Center of Jonesboro 3702 Stadium Blvd, Jonesboro, AR 72404 +1 (870) 336 - 9229
Jackson Hewitt Tax Service 427 Hwy 425 N, Monticello, AR 71655 +1 (870) 460 - 9088
Barri Agent 324 W Main St, Jacksonville, AR 72076

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Lamar, AR, you can try to find different companies in big cities near by. Check out the following pages here: Same Day Loans in Pine Bluff, AR, Bad Credit Loans in Rogers, AR, Quick Loan in Sherwood, AR, Payday Loans in Springdale, AR, Payday Loan Without a Credit Check in Texarkana, AR, Payday Loans in Benton, AR, Payday Loan for Bentonville, AR and Bad Credit Loans in Conway, 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 Lamar, AR.

Beautiful sights of Lamar, AR

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

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Are Payday Loans Legal In Lamar, 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

Lamar, AR payday loan calculator

Payday Loans in Lamar, Arkansas: Understanding the Regulations

For those living in Lamar, Arkansas, who are in need of financial assistance, a payday loan may seem like the perfect solution. However, it’s important to understand that payday loans are prohibited in the state of Arkansas, including in Lamar. While the idea of quick cash without a credit check may be tempting, it’s important to be aware of the potential risks associated with payday loans and to explore other options for financial assistance.

The Basics of Payday Loans

Payday loans are short-term loans that typically range from $100 to $500, with high interest rates and fees. They are designed to provide fast cash to those who need it, with the expectation that the loan will be paid back on the borrower’s next payday. However, many borrowers find themselves unable to repay the loan on time, leading to additional fees and interest charges.

In Arkansas, payday loans are prohibited by state law. The state’s usury laws cap interest rates at 17%, making it impossible for payday lenders to operate legally. Any lenders who do attempt to offer payday loans in Arkansas are doing so illegally and should be avoided.

Alternatives to Payday Loans

If you find yourself in need of financial assistance in Lamar or elsewhere in Arkansas, there are alternatives to payday loans that can provide the cash you need without the same risks and high fees.

  • Personal loans: A personal loan from a bank, credit union, or online lender can provide the funds you need with lower interest rates and more flexible repayment terms than a payday loan.
  • Credit card cash advance: If you have a credit card, you can typically receive cash advances with lower interest rates than payday loans.
  • Friends and family: If possible, consider reaching out to friends or family members who may be able to provide short-term financial assistance without the high fees of a payday loan.

Facts and Statistics

Despite being prohibited in Arkansas, payday loans remain a common form of financial assistance in many other states. According to a report by the Consumer Financial Protection Bureau, the average payday loan borrower takes out 10 loans per year, with fees and interest charges totaling $458 on a $350 loan. Additionally, the report found that 80% of payday loans are rolled over into new loans, with borrowers paying additional fees and interest charges.

Apply Now

If you are in need of financial assistance, TheGuaranteedLoans can help connect you with potential lenders. Our application process is simple and can be completed online in just a few minutes. However, it’s important to keep in mind that we are a connector service and not a direct lender. This means that we do not make decisions regarding whether or not a borrower is approved for a loan. Instead, we will work to facilitate your connection with potential lenders who may be able to provide the assistance you need.

Apply now and take the first step towards getting the financial assistance you need.

F.A.Q.

What are the penalties for offering or taking out a payday loan in Lamar, Arkansas?

Offering or taking out a payday loan in Lamar, Arkansas is considered a criminal offense and can result in fines and imprisonment.

Are there any exceptions to the payday loan prohibition in Lamar, Arkansas?

No, there are no exceptions to the payday loan prohibition in Lamar, Arkansas.