Payday Loans in Midland, Georgia

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No payday loan companies in Midland, GA. Consider companies in other cities:

Company nameAddressZip codePhone number
1st Franklin Financial 7 S Broad St Suite 1, Butler, GA 31006 +1 (478) 862 - 5244
Sterling Finance Company 639 Thornton Rd, Lithia Springs, GA 30122 +1 (770) 739 - 2000
World Finance Corporation 817 16th Ave E a, Cordele, GA 31015 +1 (229) 273 - 7112
Check Into Cash 800 W Spring St, Monroe, GA 30655 +1 (770) 207 - 0688
Lendmark Financial Services LLC 1431 Riverstone Pkwy Suite 130, Canton, GA 30114 +1 (678) 888 - 4575
First Bank of Pike 50 Spring Rd, Molena, GA 30258 +1 (770) 884 - 5610
TitleMax Title Pawns 1416 Roswell Rd, Marietta, GA 30062 +1 (770) 579 - 5011
Western Finance 39 E May St Ste E, Winder, GA 30680 +1 (770) 307 - 2005
Myers James J CPA 119 W Courthouse Square, Cumming, GA 30040 +1 (770) 887 - 8529
Atlanta Title Loans 5230 Jimmy Carter Blvd, Norcross, GA 30093 +1 (770) 409 - 0081

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Midland, GA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Smyrna, GA, Payday Loans in Statesboro, GA, Payday Loans in Tucker, GA, Bad Credit Loans in Valdosta, GA, Payday Loans in Warner Robins, GA, Quick Loan in Albany, GA, Emergency Loan in Alpharetta, GA and No Credit Check Loans in Atlanta, GA. 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 Midland, GA.

Beautiful sights of Midland, GA

Payday Loans Available in Midland, GA By The Following ZIP Codes:

31820

Are Payday Loans Legal In Midland, Georgia?

Payday Lending is Prohibited in Georgia

Georgia Loan Regulations

Legal StatusProhibited
Interest Rate (APR, %)Prohibited
Maximum Loan AmountProhibited
Minimum Loan TermProhibited
Maximum Loan TermProhibited
Number of Rollovers AllowedProhibited
Finance ChargesProhibited

Midland, GA payday loan calculator

Midland, Georgia is a town of approximately 14,000 residents situated in Muscogee County. While residents of this area sometimes face unexpected financial challenges, they cannot typically address them with payday loans. As of 2004, payday loans have been prohibited within state lines, and the Georgia Industrial Loan Act places additional restrictions on consumer loans.

What are Payday Loans?

Payday loans are typically small, short-term loans designed to cover expenses until the borrower’s next payday. These loans may be appealing to people in financially precarious situations, as they do not typically require a credit check and often provide quick access to cash.

However, payday loans are also notorious for their high-interest rates, sometimes reaching 400% APR or more. The high cost of borrowing and short repayment timeline can trap borrowers in a cycle of debt that can be difficult to escape.

The Legal Status of Payday Loans in Georgia

In an effort to curb the predatory practices of payday lenders, the state of Georgia has prohibited these types of loans since 2004. Under Georgia law, lenders cannot charge interest rates exceeding 60% per year. Additionally, any lender who violates these regulations may be subject to criminal charges and fines.

While payday loans are not available in Georgia, the state does provide consumers with other avenues for financial assistance. For example, Georgia offers a Temporary Assistance for Needy Families (TANF) program to low-income households that provides cash benefits and job training services. Similarly, Georgia has a low-cost micro-lending program known as the Georgia Small Business Credit Initiative (GSBCI).

Why Are Payday Loans Prohibited in Georgia?

In addition to the legal prohibition on payday loans in Georgia, state lawmakers have cited several concerns with these types of loans. One key concern is the high interest rates and short repayment terms associated with payday loans.

As previously mentioned, these loans can trap borrowers in a cycle of debt, where they need to take out additional loans to cover the costs of the previous ones. This creates a cycle where borrowers continuously accrue additional interest and fees, making it very challenging to pay back the original loan amount.

In addition to the high cost of borrowing, payday loans have also been criticized for their target marketing to low-income communities and for the lack of transparency in lending practices.

Interesting Statistics About Payday Loans in Georgia

  • Payday loans are illegal in Georgia, but illegal lenders still find ways to prey on consumers in this market.
  • A recent study found that low-income households in the US are twice as likely to take out payday loans as higher-income households.
  • Over 80% of payday loans in the US are taken out within two weeks of the borrower paying off a previous loan. This highlights the cycle of debt that is common with these loans.

Apply Now With TheGuaranteedLoans

While payday loans are not an option for Georgia residents, consumers still have financial needs that must be addressed. If you are looking for financial assistance in Midland, Georgia, consider working with TheGuaranteedLoans. As a connector service, we help connect consumers with lenders who can provide personal loans, short-term loans, and other types of financial assistance.

Applying for a loan with TheGuaranteedLoans is quick and easy. Simply fill out our online application form with information about yourself and your financial needs. Once we receive your application, we will work to connect you with potential lenders who can provide the financial assistance you need.

Remember, applying for a loan with TheGuaranteedLoans does not guarantee that you will be approved by a lender. However, we are committed to helping our customers find the financial solutions that fit their needs.

The Bottom Line

Payday loans may be tempting in times of financial need, but they are often more trouble than they are worth. Georgia residents cannot legally obtain payday loans, but there are other options available to them, such as personal loans and microloans. Consumers who need financial assistance in Midland, Georgia should consider working with TheGuaranteedLoans to connect with lenders who can provide these types of loans.

F.A.Q.

Can I take out a payday loan online in Midland, Georgia?

No, even if the lender is located outside of Georgia, 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 Midland, Georgia?

No, it is illegal to use a payday loan from another state in Midland, Georgia.