Payday Loans in Rio, Illinois

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

Company nameAddressZip codePhone number
PLS Loan Store 2132 E 71st St, Chicago, IL 60649 +1 (773) 493 - 3000
Fifth Third Bank & ATM 510 S Sutton Rd, Streamwood, IL 60107 +1 (847) 695 - 3011
TitleMax Title Loans 700 Broadway Ave, East Dr Suite 41, Mattoon, IL 61938 +1 (217) 235 - 4500
TCF Bank 1660 Larkin Ave, Elgin, IL 60123 +1 (800) 823 - 2265
Security Finance 1800 Knoxville Ave Spc 6, Peoria, IL 61603 +1 (309) 681 - 0431
AAMCO Transmissions & Total Car Care 1406 N Milwaukee Ave, Libertyville, IL 60048 +1 (847) 281 - 5492
Federal Reserve Bank of Chicago 230 S LaSalle St, Chicago, IL 60604 +1 (312) 322 - 5322
Cash America Pawn 882 N Lake St 50, Aurora, IL 60506 +1 (630) 859 - 8980
World Finance 12551 IL-143 Ste D, Highland, IL 62249 +1 (618) 654 - 8520
Central Illinois Credit Union 2106 W John St, Champaign, IL 61821 +1 (217) 356 - 9721

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Rio, IL, you can try to find different companies in big cities near by. Check out the following pages here: Quick Loan in Saint Charles, IL, Payday Loan for Schaumburg, IL, Online Loans in Skokie, IL, Short-term Loans in Springfield, IL, Payday Loans in Streamwood, IL, Payday Loan Companies in Tinley Park, IL, Quick Loan in Urbana, IL and Bad Credit Loans in Waukegan, 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 Rio, IL.

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

61472

Are Payday Loans Legal In Rio, 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

Rio, IL payday loan calculator

Advise to read before applying

Understanding Payday Loans in Rio, Illinois

Payday loans have become increasingly popular in recent years as a means of obtaining quick cash for unexpected expenses. If you live in Rio, Illinois and are considering a payday loan, it’s important to understand the terms and conditions associated with these loans, as well as the laws governing them in the state of Illinois.

The Basics of Payday Loans in Rio, Illinois

Payday loans, also known as cash advances, are typically small loans intended to be paid back within a short period of time, usually on or before your next paycheck. These loans can be obtained from either a physical location or through an online lender, like TheGuaranteedLoans.

  • The maximum amount that can be borrowed for a payday loan in Illinois is $1,000 or 25% of the borrower’s gross monthly income.
  • Payday loan terms must not exceed 120 days in Illinois.
  • Lenders in Illinois are permitted to charge a maximum of $15.50 in interest for every $100 borrowed.
  • Illinois law requires that all payday loan borrowers must have proof of income and that lenders must verify that income before approving a loan.

The Pros and Cons of Payday Loans in Rio, Illinois

Payday loans are a viable option for short-term cash needs, but they are not a long-term financial solution. Understanding the pros and cons associated with payday loans in Rio, Illinois allows you to make an informed decision about whether or not they are the right choice for you.

Pros:

  • Payday loans are quick and easy to obtain, often with approval times as quick as a few minutes.
  • Eligibility requirements are typically less stringent than traditional loans, making it easier for people with bad credit or no credit history to obtain a loan.
  • Payday loans can be used for a variety of expenses, from car repairs to medical bills.

Cons:

  • Payday loans are often associated with high interest rates and fees, making them an expensive option in the long run.
  • Payday loans can lead to a cycle of debt if not repaid on time, as borrowers often take out additional loans to pay off the original one.
  • Payday loans are not regulated in all states, which can lead to unscrupulous lenders taking advantage of borrowers.

Facts and Statistics About Payday Loans in Rio, Illinois

  • The average payday loan amount in Illinois is $354.66.
  • Over 200,000 payday loans are issued each year in Illinois.
  • Illinois is one of 32 states that permit payday lending.
  • In Illinois, payday loan borrowers are limited to two loans at a time, with a combined total of $1,000 or 25% of the borrower’s gross monthly income.

Apply Now for a Payday Loan in Rio, Illinois

If you’re in need of a payday loan in Rio, Illinois, TheGuaranteedLoans can help connect you with potential lenders. Our online application process is quick and easy, and because we only work with reputable lenders, you can rest assured that your personal and financial information will be secure. Remember, payday loans are legal in Illinois, but they are not a long-term financial solution. Borrow only what you need and can repay in a timely manner. Apply now to see if you qualify for a payday loan through TheGuaranteedLoans!

F.A.Q.

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

Yes, there are several alternatives to payday loans in Rio, 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.

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.

Accessibility: This platform's services may not be available to residents of certain states due to local regulations. To determine whether you can access this service, please review your area's legal guidelines. Additionally, be advised that the terms and conditions of this website can be altered at any time without prior notice.

Important Notice: TheGuaranteedloans.com is not a loan company and for that reason cannot determine whether or not you're eventually permitted for any advance, neither can we establish the sum of loan you might be provided. Every lending options, purchasing services and products are offered without having guarantee. When searching for deals, remember to evaluate the budgetary institution’s Terms and Conditions.

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