Payday Loans in Norphlet, Arkansas

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

Company nameAddressZip codePhone number
Simmons Bank 10425 Stagecoach Rd, Little Rock, AR 72210 +1 (501) 320 - 2220
Farm Credit of Western Arkansas - Danville 302 E 5th St, Danville, AR 72833 +1 (479) 495 - 2711
IBERIABANK 3430 W Wedington Dr, Fayetteville, AR 72704 +1 (479) 878 - 6440
Braswell & Son Pawn Brokers 244 Oak St, Conway, AR 72032 +1 (501) 328 - 2114
Bank OZK 1303 N Hervey St, Hope, AR 71801 +1 (870) 777 - 9888
Cash'n Checks 1024 Main St, Conway, AR 72032 +1 (501) 327 - 3278
Payday Pawn Inc 502 Virginia St # A, Springdale, AR 72764 +1 (479) 717 - 2699
Raymond James 5111 AR-5, Bryant, AR 72022 +1 (501) 603 - 7471
Agheritage Farm Credit Services 498 Broadmoor Dr, Brinkley, AR 72021 +1 (870) 734 - 4561
Regions Bank 400 W Capitol Ave, Little Rock, AR 72201 +1 (501) 371 - 7000

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Norphlet, AR, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in North Little Rock, AR, Payday Loans in Pine Bluff, AR, Payday Loans in Rogers, AR, Bad Credit Loans in Sherwood, AR, Guaranteed Loans in Springdale, AR, Payday Loans in Texarkana, AR, Payday Loan for Benton, AR and Payday Loans 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 Norphlet, AR.

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

71759

Are Payday Loans Legal In Norphlet, 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

Norphlet, AR payday loan calculator

Understanding Payday Loans in Norphlet, Arkansas

Payday loans are a type of short-term loan that borrowers often take out to cover emergency expenses. However, in the state of Arkansas, payday lending is prohibited, meaning borrowers cannot legally take out loans from payday lenders. The Arkansas Constitution caps interest rates at 17% per annum for consumer loans, effectively banning payday lending in the state.

The Pitfalls of Payday Loans

Despite their popularity, payday loans come with high-interest rates and fees which can trap borrowers in a cycle of debt. With annual percentage rates (APRs) averaging 400%, borrowers struggle to keep up with repayments, often leading to missed payments and further charges. In Arkansas and other states where payday lending is prohibited, more traditional lenders such as banks and credit unions may offer alternative solutions to those in need of emergency funds.

The Effects of the Prohibition of Payday Loans in Norphlet, Arkansas

In Norphlet, Arkansas, the prohibition of payday loans has had mixed effects on the local economy. While payday lenders are not operating within the city, some borrowers may turn to online lenders, who operate outside the state and are not subject to the same regulations. However, alternative lending institutions, such as credit unions and community banks, are seeing a rise in demand for their services.

Interesting Facts and Statistics

  • In Arkansas, the maximum loan amount for consumer loans is $5000.
  • In 2008, over half of Arkansas’s bankruptcy filings came from individuals struggling with payday loans.
  • The Consumer Financial Protection Bureau found that 80% of payday loans were rolled over or followed by another loan within 14 days.

Connect with Lenders Today

While payday loans are not a viable option in Norphlet, Arkansas, those in need of emergency funds can turn to TheGuaranteedLoans for assistance. We are a connector service that can facilitate the connection between potential lenders and borrowers. Our trusted partners provide a range of lending solutions, from installment loans to personal loans, with APRs and repayment terms that work for you.

Don’t let financial struggles get you down. Apply now on our website for a stress-free lending experience.

F.A.Q.

Can I take out a payday loan online in Norphlet, Arkansas?

No, even if the lender is located outside of Arkansas, it is illegal to take out a payday loan online in this state.

Can I take out a payday loan from a lender in another state and use it in Norphlet, Arkansas?

No, it is illegal to use a payday loan from another state in Norphlet, Arkansas.