Payday Loans in Raleigh, Illinois

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

Company nameAddressZip codePhone number
Farm Credit Illinois 1506 E Fayette Ave, Effingham, IL 62401 +1 (217) 857 - 6450
First American Bank 288 N Main St, Bourbonnais, IL 60914 +1 (815) 935 - 7052
Midwest Title Loans 3718 39th Ave Dr, Moline, IL 61265 +1 (309) 762 - 6510
TCF Bank 9343 Irving Park Rd, Schiller Park, IL 60176 +1 (800) 823 - 2265
CEFCU ATM 108 Peoria St, Washington, IL 61571 +1 (800) 542 - 3328
Farmers State Bank 104 E Main St, Elmwood, IL 61529 +1 (309) 742 - 3711
Morgan Stanley 3201 W White Oaks Dr Ste 201, Springfield, IL 62704 +1 (217) 547 - 2900
Security Finance 336 Tenney St, Kewanee, IL 61443 +1 (309) 853 - 3244
World Finance 206 Dixon Ave Ste 2, Rock Falls, IL 61071 +1 (815) 535 - 9230
Heights Finance Corporation 1200 W Jackson St, Macomb, IL 61455 +1 (309) 833 - 3872

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Raleigh, IL, you can try to find different companies in big cities near by. Check out the following pages here: Bad Credit Loans in Woodridge, IL, Emergency Loan in Addison, IL, Payday Loans in Algonquin, IL, Payday Loans in Arlington Heights, IL, Guaranteed Loans in Aurora, IL, Payday Loans in Bartlett, IL, Payday Loans in Belleville, IL and Bad Credit Loans in Berwyn, 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 Raleigh, IL.

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

62977

Are Payday Loans Legal In Raleigh, 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

Raleigh, IL payday loan calculator

Advise to read before applying

Are you facing a financial emergency and need quick cash in Raleigh, Illinois? A Payday loan may be your answer. Payday loans are a type of short-term loan that can help you get cash on the same day, even with bad credit. In Illinois, payday loans are legal and regulated by the state law, which means you can safely take out a loan if you meet the necessary requirements.

What are Payday loans

Payday loans are a type of loan that you can borrow against your next paycheck. These loans are easy to obtain but come at a higher interest rate and short repayment term. In exchange for cash, you agree to repay the loan amount, along with interest and other fees when the due date arrives. The due date is typically the next payday.

How to get a Payday loan in Raleigh, Illinois

Getting a Payday loan in Raleigh is easy and straightforward. Below is a step-by-step guide to help you get started:

  • Check if you meet the requirements: Payday lenders in Illinois have certain requirements you must meet before getting approved for a loan. For instance, you must be at least 18 years old, have a valid ID, and provide proof of income.
  • Compare lenders: Once you meet the requirements, you should compare different lenders to find the one with the best rates and terms. You can do this online or by visiting various lenders’ physical locations.
  • Submit your application: Submit your loan application to the lender of your choice. Most lenders in Raleigh, Illinois, have an online application process that takes less than five minutes to complete.
  • Get approved: Once you apply, the lender will review your application and determine if you qualify for a payday loan. If you get approved, the lender will disburse the loan amount to your bank account or give you cash.
  • Repay the loan: Repay the loan amount, plus interest and other fees, when the due date arrives. Most Payday loans in Raleigh, Illinois, have a repayment term of 14 to 30 days.

Benefits of Payday loans in Raleigh, Illinois

There are several benefits to taking out a Payday loan in Illinois. Here are some of them:

  • Quick cash: Payday loans offer fast cash to borrowers, usually within a few hours of submitting an application.
  • Easy to obtain: Unlike traditional loans, Payday loans have minimal requirements, and you don’t need collateral or good credit to get approved.
  • No restriction on usage: You can use the loan amount for any expense, including bills, groceries, and emergencies.
  • Regulated by state law: Payday loans are legal in Illinois and have regulations in place to protect borrowers from predatory lending practices.

Interest and fees associated with Payday loans

Payday loans in Raleigh, Illinois, come with high interest rates and fees. The maximum amount you can borrow is $1000 or 25% of your gross monthly income. Lenders in Illinois can charge up to $15.50 per $100 borrowed, with a maximum APR of 400%. You should also expect finance charges, which can range from $15 to $45 per $100 borrowed. Therefore, it’s important to fully understand the terms and costs before taking out a Payday loan and only borrow what you can pay back comfortably.

Interesting facts about Payday loans in Raleigh, Illinois

  • Illinois has approximately 450 Payday lenders operating across the state.
  • The average Payday loan amount issued in Illinois is $354.
  • Illinois strictly regulates Payday lending by limiting the interest rate and fees a lender can charge and imposing a cooling-off period between loans.
  • 90% of Payday loans in Illinois are taken out by borrowers with household income less than $40,000 per year.
  • About 55% of Payday borrowers in Illinois take out multiple loans per year, and 86% of Payday loans are taken out within two weeks of the previous loan.

Apply Now

Are you in need of quick cash in Raleigh, Illinois? TheGuaranteedLoans can help you connect with potential lenders who may be able to offer you a Payday loan. As a connector service, we partner with multiple lenders who specialize in Payday loans, Title loans, and other loan products. To get started, fill out our online application form to see if you’re eligible for a loan offer. Our service is free, and you’re under no obligation to accept any offers you receive. Apply now and get the financial help you need today.

F.A.Q.

Can I renew or extend a payday loan in Raleigh, Illinois?

Yes, payday loans in Raleigh, Illinois can be renewed or extended, but only under certain circumstances. Borrowers must pay off a portion of the loan and any fees before the loan can be extended or renewed.

What happens if I can't repay a payday loan in Raleigh, Illinois?

If a borrower is unable to repay a payday loan in Raleigh, Illinois, the lender may attempt to collect the debt through traditional methods, such as phone calls and letters. The lender may also report the default to credit bureaus, which could affect the borrower's credit score.

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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