Payday Loans in Lee Center, Illinois

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

Company nameAddressZip codePhone number
PLS Check Cashing Store 2507 W 95th St, Evergreen Park, IL 60805 +1 (708) 425 - 0118
Germantown Trust & Savings Bnk 205 N Germantown Rd, Breese, IL 62230 +1 (618) 526 - 4202
Fairfield National Bank 220 E Main St, Fairfield, IL 62837 +1 (618) 842 - 2107
Illinois Title Loans, Inc. 410 N Dirksen Pkwy, Springfield, IL 62702 +1 (217) 528 - 2180
First Midwest Bank 601 Pearson Dr, Genoa, IL 60135 +1 (815) 784 - 2004
Security Finance 616 W Lincoln Ave, Suite C13, Charleston, IL 61920 +1 (217) 348 - 1911
Jeff Mortimer CPA LTD 108 S 5th St, Auburn, IL 62615 +1 (217) 438 - 9110
Lacon Community Bank 313 5th St, Lacon, IL 61540 +1 (309) 246 - 2255
East Central Farm Business Farm Management 1801 N State Route 1, Building 1 Suite 5, Watseka, IL 60970 +1 (815) 432 - 2372
BMO Harris Bank 4844 Hononegah Rd, Roscoe, IL 61073 +1 (815) 623 - 2322

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Lee Center, IL, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Northbrook, IL, 24-Hour Loan in Oak Lawn, IL, Payday Loans in Oak Park, IL, Payday Loans in Orland Park, IL, Payday Loans in Oswego, IL, Online Loans in Palatine, IL, Payday Loans in Park Ridge, IL and Payday Loan Without a Credit Check in Pekin, 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 Lee Center, IL.

Beautiful sights of Lee Center, IL

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

61331

Are Payday Loans Legal In Lee Center, 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

Lee Center, IL payday loan calculator

Payday Loans in Lee Center, Illinois: What You Need to Know

When unexpected expenses catch you off guard, payday loans can be a helpful solution to tide you over until your next paycheck arrives. If you live in Lee Center, Illinois, you may be curious about your options for payday loans. Here is everything you need to know about payday loans in Lee Center.

How Do Payday Loans Work?

Payday loans are short-term loans that are designed to be paid back quickly, often within two weeks or by your next payday. They are typically small loans, ranging from $100 to $1000. In order to apply for a payday loan, you typically need to show proof of income and have an active checking account. The application process is usually quick and easy, and many lenders offer online applications.

Are Payday Loans Legal in Illinois?

Yes, payday loans are legal in Illinois. However, there are certain regulations in place to protect borrowers. These regulations include:

  • Maximum loan amount: $1000 or 25% of borrower’s gross monthly income
  • Maximum loan term: 120 days
  • Maximum finance rate and fees: $15.50 per $100 borrowed
  • Maximum annual percentage rate (APR): 400%

Make sure to read your loan agreement carefully before signing, and be aware of the fees and interest rates involved.

What Are the Benefits of Payday Loans?

Payday loans can be a helpful option in certain situations. Here are some benefits to consider:

  • Quick access to cash: Payday loans are often approved quickly, and the funds can be deposited directly into your checking account within a few hours or days.
  • No credit check: Payday lenders typically do not require a credit check, so borrowers with bad credit may still be eligible for a loan.
  • Flexible approval requirements: In addition to no credit check, payday lenders often have fewer requirements for approval than traditional lenders.

What Are the Risks of Payday Loans?

While payday loans can be a helpful option for some borrowers, there are risks to be aware of as well:

  • High interest rates: Payday loans often have high interest rates, with APRs as high as 400%. This can make them difficult to pay back if you are on a tight budget.
  • Short repayment term: Payday loans are typically due within two weeks or by your next payday, which can make it difficult to pay the loan back on time.
  • Debt cycle: If you are not able to pay back your payday loan on time, you may be tempted to take out another loan to cover the first one. This can lead to a cycle of debt that is difficult to break.

Interesting Facts and Statistics About Payday Loans in Lee Center, Illinois

  • In the state of Illinois, the average payday loan is $350, and the average APR is 404.69%.
  • As of 2019, there were 453 licensed payday loan locations in Illinois.
  • 61% of Illinois payday loan borrowers reported that they used the funds to cover unexpected expenses, such as car repairs or medical bills.

Apply Now

If you live in Lee Center, Illinois, and are in need of a payday loan, TheGuaranteedLoans can help connect you with potential lenders. Fill out our online application now to get started. Please note that TheGuaranteedLoans is a connector service, not a direct lender. We cannot guarantee loan approval or specific loan terms.

Remember to borrow responsibly, and only take out a payday loan if you are confident that you can pay it back on time.

F.A.Q.

How do payday loans work in Lee Center, Illinois?

To obtain a payday loan in Lee Center, 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 Lee Center, Illinois?

Yes, payday loans are legal in Lee Center, 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.