Payday Loans in Ellery, Illinois

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

Company nameAddressZip codePhone number
Oportun 1248 N Lake St, Aurora, IL 60506 +1 (331) 481 - 8826
LendNation 407 W Lincoln Hwy, Chicago Heights, IL 60411 +1 (708) 747 - 8800
Cash America Pawn Units B & C, 557 W Lincoln Hwy, Chicago Heights, IL 60411 +1 (708) 283 - 0580
Mid-Illini Credit Union 1811 Eastland Dr, Bloomington, IL 61704 +1 (309) 661 - 1166
Cash Store 5205 N Broadway St, Quincy, IL 62305 +1 (217) 228 - 1200
CFSC Currency Exchange Antioch 320 IL-173, Antioch, IL 60002 +1 (847) 395 - 5700
Blackhawk Bank & Trust 1100 1st Ave, Silvis, IL 61282 +1 (309) 752 - 1200
First Mid Bank & Trust Savoy 1251 Woodfield Dr, Savoy, IL 61874 +1 (217) 351 - 3526
The Frederick Community Bank Drive-Up in CP 101 W Church St, Cissna Park, IL 60924 +1 (815) 457 - 2111
Security Finance 1210 Towanda Ave Suite 14, Bloomington, IL 61701 +1 (309) 820 - 0556

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Ellery, IL, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Chicago, IL, Online Loans in Chicago Heights, IL, Payday Loan for Crystal Lake, IL, Payday Loans in Danville, IL, Payday Loans in Decatur, IL, Short-term Loans in Dekalb, IL, Payday Loans in Des Plaines, IL and Payday Loans in Downers Grove, 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 Ellery, IL.

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

62833

Are Payday Loans Legal In Ellery, 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

Ellery, IL payday loan calculator

Payday Loans in Ellery, Illinois

Payday loans offer a quick and convenient solution for individuals who find themselves in need of cash to cover unexpected expenses. In Ellery, Illinois, payday loans are legal and available for those who qualify. This type of loan is a short-term, high-interest loan that is designed to be paid back within a few weeks or on the borrower’s next payday.

How Payday Loans Work

The process of obtaining a payday loan in Ellery is straightforward and typically takes only a few minutes. The borrower must fill out an application form and provide proof of income, such as a paycheck stub or bank statement. They also must provide a valid photo ID.

If approved, the borrower receives the loan amount in cash or through direct deposit into their bank account. The loan must be paid back either in full or in installments on the borrower’s next payday or according to the agreed-upon terms of the loan.

Eligibility Requirements for Payday Loans in Ellery, Illinois

In order to qualify for a payday loan in Ellery, Illinois, the borrower must meet certain eligibility requirements. They must be at least 18 years old and have a steady source of income. They must also have a valid checking account and a phone number.

Some lenders may also require a minimum credit score or proof of residency in Ellery or the surrounding area.

Benefits of Payday Loans in Ellery, Illinois

Payday loans can provide several benefits for those who need cash quickly. They offer a quick and convenient solution for unexpected expenses, such as a car repair or medical bill. They also do not require the borrower to have good credit, making them accessible to those who may not qualify for traditional loans. Additionally, the application process is simple and typically does not require extensive documentation.

What to Watch Out For

While payday loans can be a useful financial tool, they also come with risks. The high interest rates associated with payday loans can make them difficult to repay, and borrowers can find themselves trapped in a cycle of debt. Additionally, unscrupulous lenders may engage in predatory practices, such as imposing hidden fees or requiring the borrower to take out multiple loans.

Interesting Facts and Statistics About Payday Loans in Ellery, Illinois

  • As of January 2021, there were over 500 licensed payday lenders in Illinois.
  • The average payday loan in Illinois is $375, with an APR of 391%.
  • In 2020, the Illinois Department of Financial and Professional Regulation received 3,493 complaints related to payday loans.

Apply Now

If you find yourself in need of a payday loan in Ellery, Illinois, TheGuaranteedLoans can help connect you with potential lenders. Our service is free and easy to use. Simply fill out our online application form and we will match you with lenders who may be able to provide you with a loan. Remember, we are a connector service and not a direct lender. Our goal is to help you find a lender who can meet your needs and financial situation.

Note: Payday loans should only be used for short-term financial needs and should not be used as a long-term financial solution. Borrowers should also make sure that they are able to repay the loan on time and in full before taking out a payday loan.

F.A.Q.

Can payday lenders in Ellery, Illinois operate without a license?

No, all payday lenders in Ellery, Illinois must be licensed by the state in order to operate. Borrowers can check the Illinois Department of Financial and Professional Regulation's website to verify that a lender is licensed before taking out a loan.

Is there a maximum number of payday loans that a borrower can take out in Ellery, Illinois?

Yes, Illinois law limits borrowers to taking out a maximum of two payday loans at any one time. Borrowers must also wait at least seven days between taking out consecutive payday loans.