Payday Loans in Logan, Illinois

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

Company nameAddressZip codePhone number
Check Into Cash 2350 Sycamore Rd, DeKalb, IL 60115 +1 (815) 748 - 3106
Municipal Trust & Savings Bank 228 N Dixie Hwy, Momence, IL 60954 +1 (815) 472 - 6444
German American State Bank 809 Cannell Puri Dr, Winnebago, IL 61088 +1 (815) 335 - 1900
A-Z CREDIT LENDERS 96 N Eastwood Dr, Woodstock, IL 60098 +1 (815) 206 - 5668
World Finance 2105 Court St, Pekin, IL 61554 +1 (309) 353 - 4043
Title Cash 1510 E Jackson, Macomb, IL 61455 +1 (309) 837 - 2274
BMO Harris Bank 473 Redington Dr, South Elgin, IL 60177 +1 (847) 695 - 2299
PNC Bank 66 E Grand Ave, Fox Lake, IL 60020 +1 (847) 587 - 0601
Ivanhoe Capital Advisors 8600 US Hwy 14 Suite 102, Crystal Lake, IL 60012 +1 (815) 893 - 7151
A All Financial Services 320 IL-173, Antioch, IL 60002 +1 (847) 395 - 5700

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Logan, IL, you can try to find different companies in big cities near by. Check out the following pages here: Guaranteed Loans in Romeoville, IL, Payday Loan for Saint Charles, IL, Payday Loans in Schaumburg, IL, 24-Hour Loan in Skokie, IL, No Credit Check Loans in Springfield, IL, Payday Loans in Streamwood, IL, Online Loans in Tinley Park, IL and Payday Loans in Urbana, 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 Logan, IL.

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

62856

Are Payday Loans Legal In Logan, 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

Logan, IL payday loan calculator

Advise to read before applying

Payday Loans in Logan, Illinois: Everything You Need to Know

If you’re experiencing a financial emergency in Logan, Illinois, a payday loan may be the solution you’re looking for. Payday loans are a type of short-term loan that can help you cover unexpected expenses when you need it the most. In this article, we’ll explain everything you need to know about payday loans in Logan, Illinois.

What are Payday Loans?

Before we delve into the specifics of payday loans in Logan, Illinois, let’s define what they are. Payday loans are short-term loans that typically range from $100 to $1,000 and are designed to help bridge the gap between paychecks. They are meant to be repaid in full on your next payday, usually within two weeks or a month.

Payday loans can help you cover unexpected expenses like car repairs, medical bills, or other urgent bills that can’t wait until your next paycheck. They are designed for people who need access to cash quickly and don’t have other financing options available to them, such as credit cards or personal loans.

Are Payday Loans Legal in Illinois?

Yes, payday loans are legal in Illinois. However, there are specific regulations that lenders must follow to operate in the state. For example, payday loans in Illinois cannot exceed $1,000 or 25% of your gross monthly income, whichever is lower. Additionally, the term of the loan cannot be less than 13 days and must not exceed 120 days.

Illinois also mandates that lenders must disclose the cost of the loan in terms of Annual Percentage Rate (APR). The APR for a payday loan in Illinois can range from 404% to 500% depending on the loan terms and the lender you choose.

How Do Payday Loans Work in Logan, Illinois?

The process of getting a payday loan in Logan, Illinois is relatively straightforward. First, you’ll need to find a lender that operates in the state. You can do this by conducting research online or by using a business listing portal like TheGuaranteedLoans to find a lender that suits your needs.

Once you find a lender, you’ll need to fill out an online application or visit the lender’s physical location. The lender will ask for some basic information like your name, address, and employment status, as well as your checking account details to deposit the loan if you’re approved.

If you’re approved for a loan, you’ll receive the funds either through direct deposit or a check, depending on the lender. You’ll typically have to pay the loan back in full, plus interest and any additional fees, when you receive your next paycheck. Failure to repay the loan on time can result in additional fees and even legal consequences.

The Benefits of Payday Loans in Logan, Illinois

  • Payday loans can help you cover unexpected expenses when you need it the most.
  • They are easy to apply for and often have quick approval processes.
  • You don’t need a good credit score to get approved for a payday loan.
  • Payday loans can provide access to cash quickly when other financing options are not available or are not feasible.

The Risks of Payday Loans in Logan, Illinois

  • Payday loans can have high interest rates and fees.
  • The short repayment period can make it difficult to repay the loan on time and can result in additional fees and interest charges.
  • Defaulting on a payday loan can result in legal consequences like wage garnishment and may harm your credit score.

Interesting Facts and Statistics about Payday Loans in Logan, Illinois

  • According to the Illinois Department of Financial and Professional Regulation, there were over 300,000 payday loans taken out in Illinois in 2019.
  • The average loan amount for payday loans in Illinois was $366 in 2019.
  • The average APR for payday loans in Illinois was 297% in 2019.

Apply Now

If you’re considering a payday loan in Logan, Illinois, TheGuaranteedLoans can help you find a lender that suits your needs. Our online application process is quick and easy, and we’ll connect you with potential lenders who can provide the cash you need. It’s important to note that TheGuaranteedLoans is a connector service, not a direct lender. We don’t make any credit decisions and don’t have access to the terms of your loan. We’re simply here to facilitate your connection with lenders who can provide the cash you need. Apply now and see if you qualify for a payday loan in Logan, Illinois!

F.A.Q.

Can payday lenders in Logan, Illinois require borrowers to provide collateral in order to take out a loan?

No, in Logan, Illinois, payday lenders cannot require borrowers to provide collateral in order to take out a loan. Borrowers who are asked to provide collateral should be wary of the lender and consider alternative options.

What is a payday loan in Logan, Illinois?

A payday loan is a short-term, high-interest loan that is intended to be repaid on the borrower's next payday. These loans are typically offered by non-bank lenders, such as storefront lenders or online lenders, and are often used by people who need quick access to cash to cover unexpected expenses or to bridge a temporary gap in their finances.

Look for Short-Term Loans in Other Cities:

Addison Algonquin Arlington Heights Aurora Bartlett Belleville Berwyn Bloomington Bolingbrook Buffalo Grove Calumet City Carol Stream Carpentersville Champaign Chicago Chicago Heights Crystal Lake Danville Decatur Des Plaines Downers Grove Dundee Elgin Elk Grove Village Elmhurst Evanston Galesburg Glendale Heights Glenview Granite City Gurnee Hanover Park Hoffman Estates Joliet Lombard Moline Mount Prospect Mundelein Naperville North Chicago Northbrook Oak Lawn Oak Park Orland Park Oswego Palatine Park Ridge Pekin Peoria Plainfield Quincy Rock Island Rockford Romeoville Schaumburg Skokie Springfield Streamwood Tinley Park Urbana Waukegan Wheaton Wheeling Woodridge
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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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