Payday Loans in Kansas, Illinois

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

Company nameAddressZip codePhone number
First Midwest Bank 224 N Main St, Seneca, IL 61360 +1 (815) 357 - 8751
Title Cash of Illinois 2313 E Lincolnway, Sterling, IL 61081 +1 (815) 564 - 9131
Cash America Pawn 150 S Kennedy Dr 6 & 7, Carpentersville, IL 60110 +1 (224) 293 - 4052
PLS Loan Store 2904 Ogden Ave, Aurora, IL 60504 +1 (630) 723 - 0500
World Finance Corporation 400 W Clark Ave # 104, Effingham, IL 62401 +1 (217) 342 - 2922
Security Finance 3506 E Lincolnway Suite B, Sterling, IL 61081 +1 (815) 622 - 7880
Check n Go 22 East W Newell Rd UNIT A, Danville, IL 61832 +1 (217) 442 - 0000
First National Bank of Raymond 103 S Springfield St, Virden, IL 62690 +1 (217) 965 - 3344
Phillip S Montgomery - CMG Financial Mortgage Loan Officer NMLS 232462 275 N York St Suite 400, Elmhurst, IL 60126 +1 (312) 593 - 6405
First Mid Bank & Trust Carbondale Schnucks 915 W Main St, Carbondale, IL 62901 +1 (618) 529 - 8980

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Kansas, IL, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Wheaton, IL, Payday Loans in Wheeling, IL, Payday Loan for Woodridge, IL, Payday Loans in Addison, IL, Payday Loans in Algonquin, IL, Payday Loan for Arlington Heights, IL, Quick Loan in Aurora, IL and No Credit Check Loans in Bartlett, 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 Kansas, IL.

Beautiful sights of Kansas, IL

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

61933

Are Payday Loans Legal In Kansas, 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

Kansas, IL payday loan calculator

Understanding Payday Loans in Kansas and Illinois

If you live in Kansas or Illinois and need quick cash, you may have considered a payday loan. These short-term loans can help cover emergency expenses, overdue bills or bridge the gap between paychecks.

In Kansas, payday loans are legal but heavily regulated by the state. However, in Illinois, payday loans are legal and readily available at numerous loan stores and online. But before you apply for a payday loan in either state, it’s essential to understand all the details.

What Is a Payday Loan?

A payday loan is a short-term loan that usually must be repaid within two weeks of receiving the loan. They are often advertised as a convenient way to get some quick cash without the hassle of a traditional bank loan.

For customers with bad credit or no credit history, payday loans may seem like an easy solution to their financial issues. However, they come with much higher interest rates and fees than other types of loans, so it’s crucial to thoroughly understand the costs before you apply.

The Costs of a Payday Loan

Payday loans often come with high interest rates and fees. In Illinois, the maximum interest rate allowed on payday loans is 400%. For example, if you borrow $500, the fees and interest can add up to $750 or more if you are unable to repay the loan on time. These high rates make it easy to get trapped in a cycle of debt where you continually need to borrow more to cover previous loans.

Be aware that in Kansas, payday loans have a maximum interest rate of 15% on the loan’s first $250 and 10% on any balance above that amount. The fees and interest on payday loans in Kansas are much lower than in Illinois, but you should still be cautious of borrowing more than you can pay back.

How to Apply for a Payday Loan

To apply for a payday loan, you can visit a loan store or apply online. Many lenders require some basic personal information, proof of income, and a checking account to deposit the loan funds directly. Approval for a payday loan is usually quick, with funds available in less than 24 hours.

However, remember that getting approved for a payday loan does not mean you can afford to repay it. Stop and consider the potential costs before you sign the paperwork or accept the funds.

Alternatives to Payday Loans

If you need money quickly, there may be alternatives to payday loans that you can explore.

  • Personal loans: Personal loans from a reputable lender often have lower interest rates and fees than payday loans. However, they may require a higher credit score or more extensive documentation.
  • Credit cards: Credit cards can also be a quick solution if you are only dealing with a relatively small amount of debt. Be aware of the interest rates and fees, and avoid using the card for purchases you cannot repay quickly.
  • Relief programs: Some organizations may offer financial assistance or relief programs for people dealing with unexpected expenses. These programs can vary, so check with local charities, churches, or non-profit organizations in your area for information.

If you must take out a payday loan, be sure to read the contract’s terms carefully and only borrow what you can repay. The last thing you want is to get trapped in a cycle of debt that can be harder and more expensive to escape than the original financial emergency.

Interesting Facts and Statistics About Payday Loans in Kansas and Illinois

  • In 2019, payday loans were legal in 32 states, and Illinois was one of the states with the most loan stores per capita.
  • Kansas lawmakers passed a new law in 2019 limiting payday loans’ annual interest rates to 36% and boosting the amount customers can borrow, making payday loans less appealing for lenders in the state.
  • According to a study from the Consumer Financial Protection Bureau, almost half of all payday loan borrowers take out loans ten or more times per year, and only 15% of borrowers repay their loans on time.

Apply Now for Payday Loans in Kansas and Illinois with TheGuaranteedLoans

TheGuaranteedLoans is not a direct lender but a connector service. We work to connect borrowers with potential lenders and do our best to ensure the process is fast and secure. To apply, visit our website and complete the online application form. We’ll work to match you with a lender who can meet your financial needs.

Remember to carefully consider if a payday loan is the right solution for you, and only borrow what you can afford to repay. Contact us today and let us help you get started on the path to financial stability.

F.A.Q.

Are there any alternatives to payday loans in Kansas, Illinois?

Yes, there are several alternatives to payday loans in Kansas, Illinois. For example, borrowers can seek out small personal loans from banks or credit unions, apply for assistance from social service organizations, or negotiate payment plans with creditors.

Can I be charged additional fees if I make a payment on my payday loan late?

Yes, Illinois law allows lenders to charge additional fees for late payments on payday loans. The maximum late fee that can be charged is $25, or 5% of the unpaid balance, whichever is less.