Payday Loans in Pleasant Grove, Arkansas

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

Company nameAddressZip codePhone number
IBERIABANK 10901 N Rodney Parham Rd, Little Rock, AR 72212 +1 (501) 661 - 7890
Homebank of Arkansas 113 US-165, Portland, AR 71663 +1 (870) 737 - 2235
Thomas, Speight & Noble, CPA's 915 Townsend Dr, Pocahontas, AR 72455 +1 (870) 892 - 2575
Auto Pros of Cabot 1212 S 2nd St 4, Cabot, AR 72023 +1 (501) 605 - 0061
Check Alert 5020 Northshore Dr # 5, North Little Rock, AR 72118 +1 (501) 227 - 5141
FNBC Bank 358 US Hwy 63 S, Mammoth Spring, AR 72554 +1 (870) 625 - 0400
ATM Exxon 14735 US-62, Eureka Springs, AR 72632
Smith Mayfield LLC 413 SW 3rd St, Walnut Ridge, AR 72476 +1 (870) 886 - 2772
Tax Centers of America 712 S Lincoln Ave, Star City, AR 71667 +1 (870) 628 - 4600
First Financial Bank 2638 E Joyce Blvd 2, Fayetteville, AR 72703 +1 (479) 442 - 7773

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Pleasant Grove, AR, you can try to find different companies in big cities near by. Check out the following pages here: Short-term Loans in Bentonville, AR, Payday Loans in Conway, AR, Payday Loans in Fayetteville, AR, Payday Loans in Fort Smith, AR, Bad Credit Loans in Jonesboro, AR, Bad Credit Loans in Little Rock, AR, Payday Loan Companies in North Little Rock, AR and Payday Loans in Pine Bluff, 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 Pleasant Grove, AR.

Are Payday Loans Legal In Pleasant Grove, 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

Pleasant Grove, AR payday loan calculator

Understanding Payday Loans in Pleasant Grove, Arkansas

Payday loans are small, short-term loans that are typically paid back on the borrower’s next payday. While these loans can be helpful in an emergency, they often come with high fees and interest rates. Unfortunately, payday loans are prohibited in Arkansas, including in the city of Pleasant Grove.

Why are payday loans prohibited in Arkansas?

Payday loans were banned in Arkansas in 2008, as part of the Arkansas Check Cashers Act. The law was passed to protect consumers from predatory lending practices and the cycle of debt that often accompanies high-interest payday loans. The law also sets a maximum interest rate of 17% for most consumer loans.

While payday loans can seem like a quick fix for financial emergencies, the high fees and interest rates can cause borrowers to get stuck in a cycle of debt. According to a report from the Consumer Financial Protection Bureau, the average payday loan borrower takes out 10 loans in a year and spends 199 days in debt.

What are the alternatives to payday loans in Pleasant Grove?

If you live in Pleasant Grove and need emergency funds, there are other options available that can help you avoid the high fees and interest rates of payday loans. Some alternatives include:

  • Credit union loans: Credit unions are nonprofit financial institutions that can offer lower interest rates and more flexible repayment terms than traditional banks.
  • Personal loans: Personal loans from banks or online lenders can have lower interest rates and longer repayment terms than payday loans.
  • Credit card cash advances: While not ideal, credit card cash advances can be a less expensive option than payday loans if you can pay off the balance quickly.
  • Government assistance: Depending on your situation, you may be eligible for government assistance programs such as the Supplemental Nutrition Assistance Program (SNAP) or Temporary Assistance for Needy Families (TANF).

Interesting Facts and Statistics

According to a report from the Arkansas Fair Housing Commission, payday loans were the most complained-about financial product in Arkansas in 2019. The report found that payday lenders often targeted low-income and minority communities and charged interest rates as high as 600% APR.

Another report from the Center for Responsible Lending found that payday lenders in Arkansas collected $25 million in fees from consumers in 2019.

Apply Now

If you need emergency funds and live in Pleasant Grove, Arkansas, TheGuaranteedLoans can help connect you with potential lenders. We offer an online application that is quick and easy to complete. Please keep in mind that we are a connector service and not a direct lender. We aim to connect borrowers with trusted lenders that can offer competitive rates and flexible repayment terms.

Fill out our online application today to get started!

F.A.Q.

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

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

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

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