Payday Loans in Metamora, Indiana

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

Company nameAddressZip codePhone number
U.S. Bank Branch 104 N Main St, Lynn, IN 47355 +1 (765) 874 - 1531
First Merchants Bank 134 S Washington St, Crawfordsville, IN 47933 +1 (765) 362 - 0200
A1 Cash Advance 17673 Cumberland Rd, Noblesville, IN 46060 +1 (317) 770 - 5600
Advance America 1717 South State Road 57, Ste. K, Washington, IN 47501 +1 (812) 257 - 0837
Tomcats Pawn Inc 750 W 17th St, Bloomington, IN 47404 +1 (812) 339 - 1455
1234 Financial Services 1234 N Spencer St, Rushville, IN 46173 +1 (765) 932 - 2699
KeyBank 401 Lincolnway W, Mishawaka, IN 46544 +1 (574) 254 - 6166
First Harrison Bank 2420 Barron Ave NE, Lanesville, IN 47136 +1 (812) 952 - 2096
Partners 1st Federal Credit Union 6210 W Jefferson Blvd, Fort Wayne, IN 46804 +1 (260) 459 - 1443
Check Into Cash 4008 Western Ave, Connersville, IN 47331 +1 (765) 827 - 1200

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Metamora, IN, you can try to find different companies in big cities near by. Check out the following pages here: Guaranteed Loans in Anderson, IN, Emergency Loan in Bloomington, IN, Short-term Loans in Carmel, IN, Payday Loans in Columbus, IN, 24-Hour Loan in Elkhart, IN, Payday Loans in Evansville, IN, Payday Loans in Fishers, IN and Online Loans in Fort Wayne, 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 Metamora, IN.

Beautiful sights of Metamora, IN

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

47030

Are Payday Loans Legal In Metamora, 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%

Metamora, IN payday loan calculator

Understanding Payday Loans in Metamora, Indiana

Payday loans are a type of short-term lending designed to help people cover their urgent financial needs until their next paycheck. These loans are small amounts, ranging from $100 to $1000, regulated by the state laws, and can be accessed quickly and easily, making them an attractive option for many people needing immediate financial relief in Metamora, Indiana.

How Do Payday Loans Work in Metamora, Indiana?

Payday loans are regulated in the state of Indiana, including Metamora. This means that people in Metamora who need a payday loan must meet specific requirements, including:

  • They must have a valid government-issued ID
  • They must have an active checking account
  • They must have proof of income, such as a pay stub or bank statement

Once a borrower meets the requirements, they can apply for a loan either in-store or online. The application process is usually straightforward and takes only a few minutes to complete. After applying, the loan is processed, and the applicant can receive the money on the same day.

Benefits of Payday Loans in Metamora, Indiana

The main advantage of payday loans in Metamora, Indiana, is their accessibility and quick approval process. Applicants can receive the funds they need within hours of applying, making them a lifeline for those in financial emergencies.

Moreover, payday loan lenders offer flexibility, allowing borrowers to tailor their repayment plans to their individual needs. This means that if a borrower cannot pay on time, they can renegotiate their repayment terms and pay the loan off over an extended period.

The Risks of Payday Loans in Metamora, Indiana

Although payday loans come with many benefits, they also have their risks. The primary danger of payday loans is the high-interest rates they carry. Payday loan interest rates can be as high as 391%, meaning that a loan of $300 could cost as much as $1200 to repay.

Moreover, payday loans in Metamora, Indiana, can lead to debt traps for borrowers who cannot repay their loans on time. A borrower who cannot pay on time is often charged high fees, leading to their loan spiraling out of control.

Interesting Facts and Statistics about Payday Loans in Metamora, Indiana

According to a report by the Consumer Financial Protection Bureau (CFPB), the average payday loan in Indiana carries a 391% APR, one of the highest in the country. Additionally, more than 200 payday loan lenders operate in Indiana, many of whom have faced legal action for predatory lending practices.

Furthermore, the CFPB found that more than 75% of all payday loan fees in Indiana are paid by borrowers who take out ten or more loans per year, indicating that a small percentage of borrowers rely heavily on payday loans to make ends meet.

Apply Now

Looking for a payday loan in Metamora, Indiana? TheGuaranteedLoans can help. Our online application process is simple, fast and connects borrowers with potential lenders. However, please note that we are not a direct lender and our services can only facilitate your connection with lenders.

Getting started is easy. Just visit our website and fill out the online application. We’ll help you find the best lender for your needs in Metamora, Indiana.

Conclusion

Payday loans in Metamora, Indiana, can be a lifesaver for those in financial emergencies. However, borrowers must understand their responsibilities and pay back their loans on time to avoid the high fees and interest rates associated with payday loans. Moreover, borrowers are encouraged to compare rates and read online reviews before applying for a loan to ensure they’re working with a reputable lender.

F.A.Q.

Can I roll over or renew my payday loan in Metamora, Indiana?

No, in Metamora, Indiana, payday lenders are not allowed to offer rollovers or renewals on payday loans. Borrowers are expected to pay off their payday loans in full by the end of the loan term.

What are the requirements for obtaining a payday loan in Metamora, Indiana?

in Metamora, Indiana, borrowers must be at least 18 years old, have a valid government-issued ID, and provide proof of income and a valid checking account in order to obtain a payday loan.