Payday Loans in Hobbs, Indiana

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

Company nameAddressZip codePhone number
Advance America 21 N Broadway, Peru, IN 46970 +1 (765) 473 - 6962
Capital Plus Credit Union 616 Buckeye St, North Vernon, IN 47265 +1 (812) 346 - 5533
Walmart Money Center 2460 E Wabash St, Frankfort, IN 46041 +1 (765) 654 - 5528
Citizens State Bank 475 N McCullum St, Knightstown, IN 46148 +1 (765) 345 - 2183
Civista Bank 19710 State Line Rd, Lawrenceburg, IN 47025 +1 (812) 537 - 4822
CFSC Speedy Check Cashers 1030 E Ridge Rd, Griffith, IN 46319 +1 (219) 923 - 0900
Rouch Financial Services 407 S Berkley Rd, Kokomo, IN 46901 +1 (765) 452 - 2687
Mariner Finance 3308 Lake City Hwy, Warsaw, IN 46580 +1 (574) 267 - 7799
Community Spirit Credit Union 160 Industrial Dr, Lawrenceburg, IN 47025 +1 (812) 537 - 0928
Freedom Bank 1405 N Main St, Huntingburg, IN 47542 +1 (812) 683 - 8998

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Hobbs, IN, you can try to find different companies in big cities near by. Check out the following pages here: Short-term Loans in Kokomo, IN, Online Loans in Lafayette, IN, Payday Loans in Merrillville, IN, No Credit Check Loans in Michigan City, IN, Payday Loan Without a Credit Check in Mishawaka, IN, Payday Loans in Muncie, IN, Payday Loans in New Albany, IN and Payday Loans in Noblesville, 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 Hobbs, IN.

Beautiful sights of Hobbs, IN

Are Payday Loans Legal In Hobbs, 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%

Hobbs, IN payday loan calculator

Payday Loans in Hobbs, Indiana

Payday loans are a popular type of short-term loan that many people use to cover unexpected expenses or bridge the gap between paychecks. These loans are designed to be paid back quickly, usually within two weeks, and come with high interest rates and fees.

Legal Status of Payday Loans in Indiana

In Indiana, payday loans are legal, but the state has strict regulations in place to protect consumers. The maximum loan amount is $550 or 20% of the borrower’s gross monthly income, whichever is less. The maximum finance charges are 15% on the first $250 and 13% on any amount above $250. The minimum loan term is 14 days, and the maximum loan term is 30 days.

How Payday Loans Work

To obtain a payday loan, a borrower must provide proof of income and a checking account. The lender will then write a post-dated check for the loan amount plus fees, which the borrower agrees to repay on their next payday. If the borrower is unable to repay the loan, the lender may cash the check. Alternatively, the borrower can pay the loan in full and avoid the fees and interest associated with rolling over the loan.

Pros and Cons of Payday Loans

Payday loans can be a helpful tool for those in need of emergency cash. However, they come with high costs and should only be used as a last resort. Some of the pros and cons include:

  • Pros: Quick and easy application process, no credit check required
  • Cons: High interest rates and fees, can lead to a cycle of debt

Interesting Facts and Statistics

  • In 2019, Indiana borrowers took out nearly 1.5 million payday loans, with an average loan amount of $377
  • Indiana law prohibits borrowers from taking out more than two loans at a time or rolling over a loan more than three times
  • The average interest rate for payday loans in Indiana is 391%

Apply Now

If you are in need of a payday loan in Hobbs, Indiana, TheGuaranteedLoans can help. We are a connecting service, not a direct lender, and we work with a network of trusted lenders to help you find a loan that meets your needs. Fill out our online application today to get started.

F.A.Q.

Is there a minimum loan term for payday loans in Hobbs, Indiana?

Yes, in Hobbs, Indiana, payday loans must have a minimum loan term of 14 days.

Are there any limits on the interest rates that can be charged on payday loans in Hobbs, Indiana?

Yes, in Hobbs, Indiana, payday lenders are not allowed to charge interest rates higher than 15% per year on payday loans.