Payday Loans in Braidwood, Illinois

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No payday loan companies in Braidwood, IL. Consider companies in other cities:

Company nameAddressZip codePhone number
Checks For Cash 1803 S West Ave, Freeport, IL 61032 +1 (815) 232 - 0966
AmeriCash Loans 180 S Bolingbrook Dr, Bolingbrook, IL 60440 +1 (630) 783 - 0400
Payday Loans 625 E Roosevelt Rd, Lombard, IL 60148 +1 (630) 620 - 7730
Shelby County State Bank 1009 Maine St, Windsor, IL 61957 +1 (217) 459 - 2101
Prairie State Bank & Trust 1052 W Morton Ave, Jacksonville, IL 62650 +1 (217) 243 - 4060
Payday Loans Hoffman Estates 1170-1182 W Central Rd, Hoffman Estates, IL 60192
Illinois Title Loans, Inc. 2950 S MacArthur Blvd, Springfield, IL 62704 +1 (217) 528 - 2140
AAA1 Auto Title Loans 428 E 162nd St, South Holland, IL 60473 +1 (800) 869 - 2274
Associated Bank 622 Roosevelt Rd, Machesney Park, IL 61115 +1 (815) 987 - 3610
Reeves Kent E CPA 101 E Delaware St B, Fairfield, IL 62837 +1 (618) 842 - 4954

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Braidwood, IL, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Downers Grove, IL, Payday Loans in Dundee, IL, Payday Loans in Elgin, IL, Payday Loans in Elk Grove Village, IL, Bad Credit Loans in Elmhurst, IL, Payday Loans in Evanston, IL, Payday Loan for Galesburg, IL and Payday Loan for Glendale Heights, IL. 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 Braidwood, IL.

Beautiful sights of Braidwood, IL

Payday Loans Available in Braidwood, IL By The Following ZIP Codes:

60408

Are Payday Loans Legal In Braidwood, Illinois?

Loan Rates and Fees, Laws and Regulations in Illinois.

Illinois Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)404
Maximum Loan Amount$1,000 (or 25% of the gross monthly income)
Minimum Loan Term13 days
Maximum Loan Term120 days
Number of Rollovers Allowed0
Finance Charges15.5% per $100

Braidwood, IL payday loan calculator

Payday Loans in Braidwood, Illinois: What You Need to Know

For many individuals who find themselves in a financial bind, payday loans can be a lifeline. But, how does payday lending work in Braidwood, Illinois? Here’s what you need to know.

What are Payday Loans?

In Illinois, payday loans are short-term loans, typically due on the borrower’s next payday, with high-interest rates charged for the convenience. These loans are designed to provide individuals with a fast cash boost to help cover unforeseen expenses or emergencies.

Are Payday Loans Legal in Braidwood, Illinois?

Yes, payday loans are legal in Braidwood, Illinois. But, to protect consumers, the state regulates the terms of payday loans. The Illinois Department of Financial and Professional Regulation provides oversight over these lenders, ensuring the safety and fairness of loans. However, it is vital to use caution when accepting a payday loan offer, as payday loans carry high-interest rates and fees.

How Much Money Can You Borrow?

The maximum amount you can borrow in Illinois is $1,000 or 25% of your gross monthly income, whichever is less. The borrower may have no more than two loans at any given time, and the loan term must be 13-45 days for payday loans.

What are the Requirements for Getting a Payday Loan?

To qualify for payday loans in Braidwood, Illinois, you must meet the following requirements:

  • Be at least 18 years old
  • Have a valid ID or driver’s license
  • Show proof of employment and income
  • Have an open checking account

What are the Fees and Interest Rates for Payday Loans in Braidwood, Illinois?

The fees and interest rates for payday loans in Braidwood, Illinois are regulated by the state and vary depending on how much you borrow. The maximum finance charge is $15.50 per $100 borrowed, with annual percentage rates (APRs) ranging from 404% to 594%. These high-interest rates and fees make it crucial to pay off the loan as quickly as possible to avoid excessive charges.

How to Apply for a Payday Loan on TheGuaranteedLoans?

TheGuaranteedLoans is a trusted connection service that can help you find a lender that meets your needs. Start your payday loan application on our website by filling out the required information, including your name, contact information, loan amount, and loan term. We will then connect you with potential lenders who will review your application and make a lending decision. If approved, you could receive funds in as little as one business day.

Interesting Facts and Statistics about Payday Loans in Braidwood, Illinois

  • According to Illinois state law, payday lenders must be licensed and bonded.
  • As of 2021, there are 564 payday lenders in Illinois, employing over 3,300 people.
  • The average APR for payday loans in Illinois is 297%.
  • Apply Now for a Payday Loan on TheGuaranteedLoans

    TheGuaranteedLoans is a connection service that helps individuals like you find a lender who meets their needs. Fill out our quick and easy online application today, and we will connect you with a potential lender who can help you get the funds you need to cover unforeseen expenses or emergencies.

    Note that TheGuaranteedLoans is not a direct lender and does not make loan decisions. Instead, we work with multiple lenders in our network to facilitate your loan request.

F.A.Q.

How do payday loans work in Braidwood, Illinois?

To obtain a payday loan in Braidwood, Illinois, borrowers typically have to provide proof of income, a valid ID, and a checking account. The lender will then advance the borrower a small amount of money, typically up to $1,000, which must be repaid on the borrower's next payday. The loan will typically include fees and interest charges, which can make it expensive to repay.

Are payday loans legal in Braidwood, Illinois?

Yes, payday loans are legal in Braidwood, Illinois, but they are subject to certain regulations designed to protect borrowers from predatory lending practices. For example, Illinois law limits the amount of interest and fees that can be charged on payday loans, and it requires lenders to disclose the terms of the loan to the borrower before the loan is made.