Payday Loans in Florence, Indiana

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No payday loan companies in Florence, IN. Consider companies in other cities:

Company nameAddressZip codePhone number
TIAA Financial Services 2852 E Buick Cadillac Blvd, Bloomington, IN 47401 +1 (866) 578 - 4221
Foresight Business Funding, LLC 450 E 96th St 500, Indianapolis, IN 46240 +1 (317) 589 - 0118
Cashland 510 S Scatterfield Rd, Anderson, IN 46012 +1 (765) 683 - 0215
First Financial Bank 1901 N Lincoln St, Greensburg, IN 47240 +1 (812) 662 - 2909
Payday of Indiana 5516 West 38th Street, Indianapolis, IN 46254 +1 (317) 216 - 0485
Personal Finance Company 2611 Central Ave # 3, Columbus, IN 47201 +1 (812) 372 - 0038
World Finance 214 Dunes Plaza Suite 214A, Michigan City, IN 46360 +1 (219) 879 - 7365
Home Bank 59 W Washington St, Martinsville, IN 46151 +1 (765) 342 - 6695
Fox Purlee, Wealth Management - Cetera Advisor Networks Inc, Member FINRA/SIPC 107 N Main St, Salem, IN 47167 +1 (812) 883 - 8668
First Merchants Bank 13505 Main St, Grabill, IN 46741 +1 (260) 469 - 6347

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Florence, IN, you can try to find different companies in big cities near by. Check out the following pages here: Short-term Loans in Plainfield, IN, Payday Loans in Portage, IN, Payday Loans in Richmond, IN, Payday Loans in South Bend, IN, Payday Loans in Terre Haute, IN, Bad Credit Loans in Valparaiso, IN, Payday Loan Without a Credit Check in West Lafayette, IN and Payday Loans in Westfield, IN. 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 Florence, IN.

Beautiful sights of Florence, IN

Payday Loans Available in Florence, IN By The Following ZIP Codes:

47020

Are Payday Loans Legal In Florence, Indiana?

Loan Rates and Fees, Laws and Regulations in Indiana.

Indiana Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)382
Maximum Loan Amount$550
Minimum Loan Term14 days
Maximum Loan TermNot Specified
Number of Rollovers Allowed0
Finance Charges<$250 = 15% $250 - $400 = 13% $400 - $500 = 10%

Florence, IN payday loan calculator

What You Need To Know About Payday Loans In Florence, Indiana

Are you in need of financial assistance in Florence, Indiana? If so, you might be considering a payday loan. Payday loans can be a helpful temporary solution to financial emergencies. However, before you commit to taking out a payday loan, it’s important to understand the potential risks and benefits of this type of loan.

What Are Payday Loans?

Payday loans are a type of short-term loan typically used to cover unexpected expenses or bridge the gap between paychecks. In Indiana, payday loans are regulated by the Indiana Department of Financial Institutions.

To qualify for a payday loan in Florence, Indiana, you must be at least 18 years old, have a steady source of income, and have a valid checking account. You’ll also need to provide proof of identification and residency.

How Do Payday Loans Work?

When you take out a payday loan, you’re essentially borrowing money against your next paycheck. You’ll write a post-dated check or provide the lender with authorization to debit the amount of the loan plus fees from your bank account on your next payday. Payday loan terms typically range from 14 to 30 days, depending on when you receive your next paycheck.

The amount of money you can borrow with a payday loan in Indiana is limited to $550. Lenders are also authorized to charge up to 15% of the loan amount as an interest rate. So, if you borrow $500, you could be charged up to $75 in interest and fees.

The Pros and Cons of Payday Loans

Like any financial product, payday loans have both advantages and disadvantages. Here are some of the pros and cons of payday loans:

Pros:

  • Quick and easy application process
  • No collateral required
  • Can be a helpful solution for short-term emergencies

Cons:

  • High interest rates and fees
  • Short repayment terms
  • Can lead to a cycle of debt

Interesting Statistics About Payday Loans In Florence, Indiana

  • According to the Indiana Department of Financial Institutions, the average payday loan amount in Indiana is $382.
  • In 2020, the Indiana Senate passed a bill that increased the maximum payday loan amount from $500 to $550.
  • Between 2017 and 2019, the number of payday loan locations in Indiana decreased by 23%.

Apply Now with TheGuaranteedLoans

If you’re considering a payday loan in Florence, Indiana, TheGuaranteedLoans can help connect you with potential lenders. We are a connector service, not a direct lender, so we work with a network of trusted lenders to help you find the best loan product for your needs. To get started, simply fill out our online application and we’ll work to facilitate your connection with potential lenders.

Remember, payday loans can be a helpful financial tool in the right circumstances, but they’re not a long-term solution to financial problems. Be sure to understand the potential risks and benefits of payday loans before taking out a loan, and always borrow responsibly.

F.A.Q.

What happens if I am unable to repay my payday loan in Florence, Indiana?

If you are unable to repay your payday loan in Florence, Indiana, the lender may pursue legal action to recover the funds. It is important to communicate with the lender and work out a repayment plan if you are unable to make the full payment on time.

Are there any restrictions on how many payday loans I can take out in Florence, Indiana?

Yes, Indiana state law prohibits borrowers from having more than two outstanding payday loans at any given time.