Payday Loans in La Fayette, Illinois

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

Company nameAddressZip codePhone number
First Financial Bank 101 E Main St, Westville, IL 61883 +1 (217) 267 - 2147
Title Cash 100 W 1st St, Rock Falls, IL 61071 +1 (815) 535 - 0485
Busey Bank 1111 S Veterans Pkwy, Bloomington, IL 61701 +1 (309) 663 - 2300
Walmart Money Center 1901 1st Ave, Rock Falls, IL 61071 +1 (815) 626 - 6800
Check Into Cash 3224 Nameoki Rd, Granite City, IL 62040 +1 (618) 451 - 5220
MidAmerica National Bank 100 W Elm St, Canton, IL 61520 +1 (309) 647 - 5000
Cash Store 921 41st Ave Dr, Moline, IL 61265 +1 (309) 736 - 4224
First Federal Savings & Loan 1116 Maine St, Windsor, IL 61957 +1 (217) 459 - 5626
Marine Bank & Trust 1111 Broadway St, Hamilton, IL 62341 +1 (217) 847 - 3341
Security National Bank 200 W Main St, Coffeen, IL 62017 +1 (217) 534 - 2351

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in La Fayette, IL, you can try to find different companies in big cities near by. Check out the following pages here: Guaranteed Loans in Dekalb, IL, Bad Credit Loans in Des Plaines, IL, Payday Loans in Downers Grove, IL, Payday Loans in Dundee, IL, Payday Loans in Elgin, IL, Payday Loans in Elk Grove Village, IL, Emergency Loan in Elmhurst, IL and Payday Loans in Evanston, 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 La Fayette, IL.

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

61449

Are Payday Loans Legal In La Fayette, 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

La Fayette, IL payday loan calculator

Advise to read before applying

Payday Loans in La Fayette, Illinois: Everything You Need to Know

Payday loans are small, short-term loans that provide fast cash to people who need it in between paychecks. They are easy to obtain and can be used for a variety of purposes, such as paying bills, covering emergencies, or making purchases.

How Do Payday Loans Work in La Fayette, Illinois?

In Illinois, payday loans are legal, but there are certain regulations that lenders must follow. The state has capped the amount of a payday loan at $1,000 or 25% of the borrower’s gross monthly income, whichever is less. The loan term cannot be longer than 120 days, and the lender cannot charge more than $15.50 in interest for every $100 borrowed.

To obtain a payday loan in La Fayette, Illinois, a borrower must provide proof of income, a bank account, and a valid ID. The lender will then determine how much money the borrower can borrow and the terms of the loan.

Pros and Cons of Payday Loans in La Fayette, Illinois

Like any financial tool, payday loans have both advantages and disadvantages. Here are some of the pros and cons of payday loans in La Fayette, Illinois:

  • Pros:
  • Quick and easy to obtain
  • No credit check required
  • Can be used for any purpose
  • Available to people with low credit scores or no credit history
  • Cons:
  • High interest rates
  • Short repayment terms
  • Can lead to a cycle of debt if not used responsibly
  • May have additional fees, such as origination fees or late payment fees

Facts and Statistics About Payday Loans in La Fayette, Illinois

  • There are over 500 payday loan storefronts in Illinois
  • The average payday loan in Illinois is $350
  • Illinois payday loan borrowers pay over $500 million in fees annually
  • 15% of payday loan borrowers in Illinois end up defaulting on their loans

Apply Now

If you are in need of a payday loan in La Fayette, Illinois, you can apply now on TheGuaranteedLoans website. We are a connector service that can help you find a lender that meets your needs. Simply fill out our online application form, and we will connect you with potential lenders who may be able to offer you a loan. Remember to use payday loans responsibly and only borrow what you can afford to repay.

TheGuaranteedLoans is not a direct lender and does not make loans or credit decisions. We work with a network of lenders to help you find the right loan for your needs. All loan terms are between you and the lender, and we do not control any of the terms or conditions of your loan.

F.A.Q.

How do payday loans work in La Fayette, Illinois?

To obtain a payday loan in La Fayette, 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 La Fayette, Illinois?

Yes, payday loans are legal in La Fayette, 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.

Look for Short-Term Loans in Other Cities:

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Customer Notice: Cash advance loans should be used for short-term personal requirements primarily, not as long-term budgetary remedies. Clients together with credit score issues ought to look for credit advice. Subject to state regulations, qualification, credit check, underwriting and approval. Rates, terms and conditions apply

Client Guidance: Payday loans are generally designed as a temporary financial bridge that allows individuals to borrow a modest amount of money until their next paycheck arrives. This type of loan is often used as an immediate financial remedy for unforeseen expenses, especially for those lacking a financial cushion or significant savings. If you find yourself struggling to manage your finances and considering a payday loan, it's crucial to consult with a qualified financial advisor. It's also important to familiarize yourself with the specific payday loan laws in your jurisdiction.

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