Payday Loans in Smithville, Indiana

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

Company nameAddressZip codePhone number
1st Source Bank 1600 E Market St, Nappanee, IN 46550 +1 (574) 773 - 5611
First Bank of Berne 915 W Main St, Peru, IN 46970 +1 (765) 472 - 1991
Cashland 714 N Detroit St, Warsaw, IN 46580 +1 (574) 269 - 3813
Beacon Credit Union 1114 S Randolph St, Garrett, IN 46738 +1 (260) 357 - 0400
Kroger Money Services 3050 Meridian St, Anderson, IN 46016 +1 (765) 644 - 7702
Money Place 601 N 15th 1/2 St, Vincennes, IN 47591 +1 (812) 882 - 5443
Greater Auto Financial Services 6022 Calumet Ave, Hammond, IN 46320 +1 (219) 933 - 0133
Quick Bad Credit Loans 600 Marsha Ct, Kokomo, IN 46902 +1 (765) 436 - 0934
Check Into Cash 3117 S Western Ave, Marion, IN 46953 +1 (765) 651 - 0681
Horizon Bank 212 W 7th St, Auburn, IN 46706 +1 (260) 925 - 8300

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Smithville, IN, you can try to find different companies in big cities near by. Check out the following pages here: Payday 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, Payday Loans in Valparaiso, IN, Payday Loan for West Lafayette, IN and Payday Loan for 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 Smithville, IN.

Are Payday Loans Legal In Smithville, 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%

Smithville, IN payday loan calculator

Understanding Payday Loans in Smithville, Indiana

Are you in need of immediate cash to cover unexpected expenses or emergencies? Do you reside in Smithville, Indiana, and wondering how to go about acquiring quick credit? Payday loans are legal in the state of Indiana and can come to your rescue during these uncertain times. Let’s dive into what payday loans in Smithville, Indiana are all about, what the law states, and how they work.

What are Payday Loans?

Payday loans are a type of short-term credit that borrowers utilize to access quick cash to cover unforeseen expenses or emergencies. The loans are generally due on the next payday and typically carry high-interest rates as they are unsecured and issued regardless of the borrower’s credit score or rating. Lenders require borrowers to provide proof of income and bank account information to approve the loan and deposit the proceeds directly into their account. These loans can provide a temporary source of funds during emergencies, but they carry the risk of trapping borrowers in a cycle of debt due to their high-interest rates and short repayment periods.

Payday Loan Laws in Smithville, Indiana

In Indiana, payday loans are legal and regulated by state law. The maximum amount loaned out is $550, with repayment periods not exceeding 14 days. Lenders may also charge up to 15% of the total amount borrowed as a finance charge, translating to an annual interest rate of 391%. Rolling over loans, extending loan terms, or issuing multiple loans to one borrower is prohibited in Indiana.

How to Apply for Payday Loans in Smithville, Indiana

To apply for a payday loan in Smithville, Indiana, borrowers need to have an active checking account and be at least 18 years old. Lenders typically require proof of income, government-issued identification, and a social security number. The application process is fast and straightforward, with approval usually taking place within hours of submitting the application. Lenders typically transfer the loan proceeds directly to the borrower’s account or issue the funds in cash for in-person applications.

Critical Considerations When Applying for Payday Loans

  • Payday loans are short-term credit options that come with high-interest rates and fees. As such, they should only be used as a last resort when all other options have been exhausted.
  • Borrowers should always read the loan agreement carefully and understand the terms and conditions before signing.
  • It’s critical to choose licensed and reputable payday lenders who comply with state laws and guidelines.
  • Borrowers should always have a plan to repay the loan promptly to avoid damaging their credit scores or incurring additional fees.

Interesting Facts and Statistics about Payday Loans in Smithville, Indiana

  • According to a Pew research study, Indiana has 13% of its residents who make use of payday loan services.
  • The Indiana Department of Financial Institutions reported that in 2020, payday loans accounted for over 60% of all loans issued in the state.
  • Indiana payday loan borrowers average a loan amount of $300.

Apply Now for Payday Loans in Smithville, Indiana

Apply for payday loans in Smithville, Indiana, quickly and conveniently on our website. TheGuaranteedLoans is a connector service that matches borrowers with potential lenders to fulfill their financial needs. We are not a direct lender but will facilitate your connection with lenders who meet your borrowing needs. Apply now and get access to quick cash to help you through those difficult times. Remember, apply responsibly and pay back the loan promptly to avoid incurring additional fees or damaging your credit score.

F.A.Q.

Can I be charged with criminal charges for not repaying a payday loan in Smithville, Indiana?

No, Indiana state law prohibits lenders from pursuing criminal charges against borrowers who are unable to repay their payday loans.

What should I do if I am having trouble repaying my payday loan in Smithville, Indiana?

If you are having trouble repaying your payday loan in Smithville, Indiana, it is important to communicate with the lender and try to work out a repayment plan. You may also want to seek advice from a financial counselor or legal professional.