Payday Loans in Standard, Illinois

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

Company nameAddressZip codePhone number
John B. Bennett, CFP - Boyer and Sappenfield Investment Advisors 102 E Main St, Arcola, IL 61910 +1 (217) 339 - 3206
Cash Store 921 41st Ave Dr, Moline, IL 61265 +1 (309) 736 - 4224
Midwest Title Loans 1618 Knoxville Ave, Peoria, IL 61603 +1 (309) 686 - 7740
State Bank of Davis 100 IL-75, Davis, IL 61019 +1 (815) 865 - 5125
Reeves Kent E CPA 101 E Delaware St B, Fairfield, IL 62837 +1 (618) 842 - 4954
Associated Bank 214 Pearl St, Staunton, IL 62088 +1 (618) 635 - 2234
Western Union Walgreens, 1057 E Main St, Galesburg, IL 61401 +1 (309) 341 - 2446
World Finance Corporation 2501 E Lincolnway #4, Sterling, IL 61081 +1 (815) 625 - 0127
First National Bank 1310 E City Rte 40, Greenville, IL 62246 +1 (618) 664 - 0300
The Money Store 2272 95th St Suite 225, Naperville, IL 60564 +1 (630) 878 - 5012

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Standard, IL, you can try to find different companies in big cities near by. Check out the following pages here: Same Day Loans in Algonquin, IL, Online Loans in Arlington Heights, IL, Payday Loans in Aurora, IL, Payday Loans in Bartlett, IL, Payday Loans in Belleville, IL, Short-term Loans in Berwyn, IL, Online Loans in Bloomington, IL and Bad Credit Loans in Bolingbrook, 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 Standard, IL.

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

61363

Are Payday Loans Legal In Standard, 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

Standard, IL payday loan calculator

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

Payday loans are a common way for Americans to borrow money. These loans are meant to be a short-term solution to financial needs and are typically paid back on the borrower’s next payday. In Standard, Illinois, payday loans are legal and regulated by state laws.

If you’re considering a payday loan in Standard, Illinois, here is everything you need to know:

What is a Payday Loan?

A payday loan is a small, short-term loan that typically has a high interest rate. These loans are marketed as a quick solution to unexpected expenses or cash shortages.

Payday loans are usually due in full on the borrower’s next payday, which is typically within two weeks. Borrowers must provide the lender with access to their bank account or a post-dated check for the loan amount and any fees or interest.

How do Payday Loans Work?

In Illinois, payday loans are regulated by the state’s Payday Loan Reform Act. This law caps the interest rate on payday loans at 36%, along with other restrictions to protect consumers.

To qualify for a payday loan in Standard, Illinois, borrowers must:

  • Be at least 18 years old
  • Have a valid government-issued ID
  • Show proof of income, such as a pay stub or bank statement
  • Provide a post-dated check or give access to their bank account

The Pros and Cons of Payday Loans

Like any financial decision, there are both pros and cons to taking out a payday loan.

Pros:

  • Quick access to cash, sometimes within a few hours
  • No credit check required
  • Can be an option for people with bad credit or no credit

Cons:

  • High-interest rates and fees
  • Short repayment term
  • Can lead to a cycle of debt if the borrower can’t pay back the loan on time
  • Not a long-term solution to financial problems

Interesting Facts About Payday Loans in Standard, Illinois

According to a report by the Pew Charitable Trusts:

  • Payday loans are more expensive in Illinois than in many other states
  • Payday lenders in Illinois make most of their revenue from borrowers who take out five or more loans per year
  • Most payday loan borrowers in Illinois have an annual income of less than $30,000

Apply Now

If you’re considering a payday loan in Standard, Illinois, TheGuaranteedLoans can help you connect with potential lenders. We are a connector service, not a direct lender, and we work with a network of reputable lenders to help you find the best loan options for your needs.

Fill out our online application today to get started.

Conclusion

While payday loans can be a quick solution to financial needs, they are also a high-cost form of borrowing. Before taking out a payday loan, it’s important to understand the terms and costs involved and to consider other options if possible.

If you do decide to pursue a payday loan, make sure to borrow from a reputable lender and read the terms and conditions carefully.

F.A.Q.

Are there any restrictions on the number of times that a payday loan can be renewed in Standard, Illinois?

Yes, in Standard, Illinois, payday loans can only be renewed once. Borrowers who wish to renew their loan must pay off at least one-third of the principal and any fees before the loan can be renewed.

Can payday lenders in Standard, Illinois charge higher interest rates on loans to military personnel and their families?

No, in Standard, Illinois, payday lenders are prohibited from charging higher interest rates on loans to military personnel and their families. Borrowers who believe that they have been charged a higher interest rate due to their military status should contact the Illinois Attorney General's office for assistance.