Payday Loans in Fidelity, Illinois

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

Company nameAddressZip codePhone number
112th & Vincennes Currency ExchangeCheck Cashing 11207 S Vincennes Ave, Chicago, IL 60643 +1 (773) 239 - 1700
U.S. Bank Branch 1701 S West Ave, Freeport, IL 61032 +1 (815) 235 - 8401
Quality Funding Source 4847 W Nelson St, Chicago, IL 60641 +1 (773) 715 - 6523
Illinois Title Loans, Inc. 2925 11th St, Rock Island, IL 61201 +1 (309) 786 - 3159
Associated Bank 622 Roosevelt Rd, Machesney Park, IL 61115 +1 (815) 987 - 3610
Metro Loans 247 W Sibley Blvd, Harvey, IL 60426 +1 (708) 503 - 0000
Security Finance 1348 N Henderson St # 6, Galesburg, IL 61401 +1 (309) 341 - 1121
First Mid Bank & Trust Arcola 249 W Springfield Rd, Arcola, IL 61910 +1 (217) 268 - 5700
Check 'n Go 1276-A Lake St., Aurora, IL 60506 +1 (630) 236 - 8310
Naperville Pawn - Jewelry & Loan 605 E Ogden Ave Ste D, Naperville, IL 60563 +1 (630) 420 - 7296

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Fidelity, IL, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Decatur, IL, Payday Loans in Dekalb, IL, Payday Loans in Des Plaines, IL, Payday Loan for Downers Grove, IL, Payday Loans in Dundee, IL, Payday Loans in Elgin, IL, Quick Loan in Elk Grove Village, IL and Payday Loans in Elmhurst, 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 Fidelity, IL.

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

62030

Are Payday Loans Legal In Fidelity, 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

Fidelity, IL payday loan calculator

Payday Loans in Fidelity, Illinois

Are you facing an unexpected expense, or struggling to make ends meet until your next paycheck? You’re not alone. Many people in Fidelity, Illinois, turn to payday loans as a quick and easy solution to their financial woes. In this article, we’ll explore how payday loans work, the regulations surrounding them, and what you need to know before applying for one.

What are payday loans?

A payday loan is a short-term loan designed to help you cover unexpected expenses or bridge the gap between paychecks. They are typically small-dollar loans, ranging from $100 to $1,000, and are meant to be repaid in full on your next payday.

Payday loans are often used for emergency expenses, such as car repairs, medical bills, or other unexpected bills that cannot wait until your next paycheck. They are sometimes referred to as “cash advances” because they are based on your income and are usually due on your next payday.

How do payday loans work?

The process of getting a payday loan typically involves filling out an application online or in-person at a payday loan store. You will need to provide proof of income, such as a pay stub or bank statement.

If you’re approved for a loan, the lender will typically deposit the funds into your bank account within one business day. The loan will be due on your next payday, which is usually within two to four weeks.

If you’re unable to repay the loan on your next payday, the lender may offer you the option to extend the loan for an additional fee. However, this can lead to a cycle of debt and make it difficult to get out of the payday loan trap.

What are the regulations surrounding payday loans in Illinois?

In Illinois, payday loans are legal and regulated by the Illinois Department of Financial and Professional Regulation (IDFPR). The maximum loan amount is $1,000 or 25% of your gross monthly income, whichever is less. The maximum loan term is 120 days, and lenders are prohibited from charging more than $15.50 per $100 borrowed.

There is also a database in Illinois called the Payday Loan Database System (PLDS), which tracks payday loans and helps prevent borrowers from taking out multiple loans at once. Lenders are required to check the PLDS before issuing a loan to ensure that the borrower hasn’t exceeded the maximum loan amount or taken out too many loans.

What do you need to know before applying for a payday loan?

Before applying for a payday loan, it’s important to understand the risks involved. Payday loans typically have high interest rates and fees, which can make it difficult to pay off the loan on time. If you’re unable to repay the loan, it can lead to a cycle of debt and negatively impact your credit score.

You should also consider alternative options, such as borrowing from friends or family, negotiating with creditors, or seeking assistance from local non-profit organizations or government agencies.

Interesting Facts and Statistics about Payday Loans in Fidelity, Illinois

  • The average payday loan amount in Illinois is $350.
  • 85% of payday loan borrowers in Illinois have an annual income of less than $40,000.
  • Approximately 80% of payday loans in Illinois are rolled over or followed by another loan within 14 days.
  • Illinois has one of the highest cap rates for payday loan fees among all states, at 15.5% per $100 borrowed.

Apply Now

If you’re in need of a payday loan in Fidelity, Illinois, TheGuaranteedLoans can help connect you with potential lenders. We are a connector service, not a direct lender, and we work with a network of reputable lenders to help you find the loan that’s right for you.

To get started, simply fill out our online application and we’ll match you with lenders who meet your needs. The process is fast, easy, and secure. So why wait? Apply now and take the first step towards financial freedom!

F.A.Q.

Are there any restrictions on the number of payday loans that can be taken out in Fidelity, Illinois?

Yes, Illinois law limits the number of payday loans that can be taken out at one time to two.

Are there any fees or interest rates associated with payday loans in Fidelity, Illinois?

Yes, payday loans in Fidelity, Illinois come with fees and interest rates. The maximum annual percentage rate (APR) for payday loans in Fidelity, Illinois is 99%, and the maximum finance charge is 15% of the loan amount.