Payday Loans in Twelve Mile, Indiana

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

Company nameAddressZip codePhone number
Citizens State Bank 1802 N Main St, Rushville, IN 46173 +1 (765) 932 - 3288
A.E. Financial 920 N Nappanee St, Elkhart, IN 46514 +1 (574) 266 - 8814
Amerifirst Home Mortgage Brookville, IN 1201 Main St 200, Brookville, IN 47012 +1 (812) 584 - 3957
World Finance 625 S Reed Rd, Kokomo, IN 46901 +1 (765) 457 - 1789
Highland Jewelry And Pawn 8929 Indianapolis Blvd, Highland, IN 46322 +1 (219) 838 - 2424
Mary Ross Fairway Independent Mortgage Corporation Loan Officer 10150 Lantern Rd Suite 110, Fishers, IN 46037 +1 (765) 524 - 4902
Thrivent Financial-Lutherans 259 Indiana Ave, Valparaiso, IN 46383 +1 (219) 714 - 8263
Eagle Finance 7799 U.S. 31 S, Suite A, Indianapolis, IN 46227 +1 (317) 882 - 2000
TCU 449 Liberty St, Walkerton, IN 46574 +1 (574) 586 - 3143
EZPAWN 6752 Indianapolis Blvd, Hammond, IN 46324 +1 (219) 844 - 0010

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Twelve Mile, IN, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan for Gary, IN, Emergency Loan in Goshen, IN, Payday Loans in Granger, IN, Payday Loan for Greenwood, IN, Bad Credit Loans in Guilford, IN, Payday Loans in Hammond, IN, Short-term Loans in Indianapolis, IN and Payday Loans in Jeffersonville, 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 Twelve Mile, IN.

Are Payday Loans Legal In Twelve Mile, 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%

Twelve Mile, IN payday loan calculator

Payday Loans in Twelve Mile, Indiana: Everything You Need to Know

Payday loans, also known as cash advances, are small, short-term loans typically ranging from $50 to $1,000. These loans are designed to help individuals cover unexpected expenses or emergencies until their next paycheck arrives. In Indiana, payday loans are legal, and Twelve Mile residents can turn to payday lending institutions located in the area for financial assistance.

What Are the Requirements for Getting a Payday Loan in Twelve Mile, Indiana?

To be eligible for a payday loan in Twelve Mile, Indiana, the borrower must be at least 18 years old, have a steady income, and a valid ID. The loan application process is straightforward and typically only requires a few minutes to complete. However, individuals with bad credit may find it challenging to secure a loan with traditional lenders.

Additionally, Indiana law states that payday loans can not exceed 20% of the borrower’s gross monthly income, and the term of the loan can not exceed 14 days. This is important to consider, as borrowers may find themselves trapped in a cycle of debt if they continuously rely on payday loans to make ends meet.

The Pros and Cons of Payday Loans in Twelve Mile, Indiana

  • Pros: One of the biggest advantages of payday loans is convenience. Borrowers can apply online or in person, and the application process typically takes a few minutes to complete. Additionally, payday loans do not require collateral or a perfect credit score, making them accessible to individuals who may struggle to secure a loan through traditional lenders.
  • Cons: One of the most significant drawbacks of payday loans is their high-interest rates and fees. Indiana law allows payday lenders to charge up to 15% of the loan amount in finance fees. This can translate into annual percentage rates (APRs) that exceed 400%, making it challenging for borrowers to pay off their loans on time. Additionally, missing payments or defaulting on a loan can result in additional fees and damage to the borrower’s credit score.

Interesting Facts and Statistics About Payday Loans in Twelve Mile, Indiana

  • Indiana is home to over 250 payday lending locations.
  • In 2019, the Indiana Department of Financial Institutions reported $70 million in payday loans issued to 147,000 borrowers.
  • The average APR on a payday loan in Indiana is 391%.

Apply Now

At TheGuaranteedLoans, we understand that unexpected expenses can be stressful. That’s why we offer free online applications to connect individuals with potential payday loan lenders in Twelve Mile, Indiana. Please note that we are not a direct lender but instead connect borrowers with potential payday loan lenders. If you are in need of financial assistance, apply now and see if you qualify for a payday loan.

Please remember to borrow responsibly and only take out a loan if you can repay it on time.

F.A.Q.

Are there any restrictions on how I can use the money from a payday loan in Twelve Mile, Indiana?

The funds from a payday loan in Twelve Mile, Indiana must be used for a short-term financial need and cannot be used for long-term expenses or investments.

What are the fees associated with a payday loan in Twelve Mile, Indiana?

The fees for a payday loan in Twelve Mile, Indiana are capped at 15% of the loan amount, plus a $1 database fee.