Payday Loans in Allen, Kansas

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No payday loan companies in Allen, KS. Consider companies in other cities:

Company nameAddressZip codePhone number
Walmart Money Center 115 US-75, Holton, KS 66436
Simmons Bank 15670 W 135th St, Olathe, KS 66062 +1 (913) 894 - 5400
Cash Fast Inc 2208 W Wyatt Earp Blvd, Dodge City, KS 67801 +1 (620) 225 - 2500
Walmart Money Center 2701 N Summit St, Arkansas City, KS 67005
TitleMax Title Loans 308 W 6th St, Junction City, KS 66441 +1 (785) 229 - 0969
Patriots Bank 114 E Central Ave, Richmond, KS 66080 +1 (785) 835 - 6145
Farmers State Bank of Bucklin 111 N Main St, Bucklin, KS 67834 +1 (620) 826 - 3231
Stifel 4910 Corporate Centre Dr STE 104, Lawrence, KS 66047 +1 (785) 842 - 7800
Check n Go 3129A S Seneca St, Wichita, KS 67217 +1 (316) 554 - 8095
Kansas State Bank 1314 S Main St, Ottawa, KS 66067 +1 (785) 242 - 1011

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Allen, KS, you can try to find different companies in big cities near by. Check out the following pages here: No Credit Check Loans in Salina, KS, Payday Loans in Shawnee, KS, Payday Loans in Topeka, KS, Same Day Loans in Wichita, KS, Payday Loan for Hutchinson, KS, Quick Loan in Kansas City, KS, Guaranteed Loans in Lawrence, KS and Same Day Loans in Leavenworth, KS. 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 Allen, KS.

Payday Loans Available in Allen, KS By The Following ZIP Codes:

66833

Are Payday Loans Legal In Allen, Kansas?

Loan Rates and Fees, Laws and Regulations in Kansas.

Payday loans made to Allen, Kansas residents may only be for $500 for the first loan and $300 for each additional loan. The lender must give a monthly statement in which the borrower will see how much money was borrowed, how much was repaid, and how much the total cost of the loan is. The Kansas Finance Charge on payday loans is a standard $15 per $100 borrowed. The APR for payday loans in Allen, Kansas is 391%.

Multiple payday advances are not allowed and banks cannot make loans to the same borrower for more than $500 on the borrower’s written agreement. There must be at least 7 days between successive loans and the lender must return a payment made before deducting finance charges if the lender could not reasonably have expected the advance to be paid.

Kansas Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)391
Maximum Loan Amount$500
Minimum Loan Term7 days
Maximum Loan Term30 days
Number of Rollovers AllowedNot specified
Finance Charges15% of the amount advanced

Allen, KS payday loan calculator

Payday Loans in Allen, Kansas: A Comprehensive Guide

Payday loans are small, short-term loans that are typically used to cover unexpected expenses or bridge gaps in income. Despite being popular in many parts of the United States, payday loans are illegal in some states due to their high-interest rates and potential for predatory lending practices.

If you are considering taking out a payday loan in Allen, Kansas, it is essential to understand what they are, how they work, and what the legal landscape looks like in your area. In this article, we will provide you with a comprehensive guide to payday loans in Allen, Kansas.

Understanding Payday Loans in Allen, Kansas

In Kansas, payday loans are legal, but they are subject to strict regulations that aim to protect consumers from abusive lending practices. Under the Kansas Statutes Annotated 16a-2-404, payday lenders must be licensed and regulated by the Office of the State Bank Commissioner.

The law specifies that payday loans in Kansas cannot exceed $500 and must have a repayment term of between seven and 30 days. Additionally, lenders are required to disclose all fees and charges associated with the loan, including the annual percentage rate (APR).

Despite these regulations, payday loans in Allen, Kansas can still be incredibly costly. In fact, the APR for a typical payday loan in Kansas can be over 390%, which can trap borrowers in cycles of debt.

The Pros and Cons of Payday Loans in Allen, Kansas

Like any financial product, payday loans have both advantages and disadvantages. Here are a few of the pros and cons of payday loans in Allen, Kansas:

Pros:

  • Payday loans can provide quick access to cash when you need it most.
  • Payday loans are relatively easy to qualify for, even if you have bad credit.
  • Payday loans can help you avoid overdraft fees, late fees, and other penalties that could be more costly than the loan itself.

Cons:

  • Payday loans can have exorbitant interest rates and fees that can trap borrowers in cycles of debt.
  • Payday loans are a short-term solution to a long-term problem and should not be relied upon for ongoing financial stability.
  • Payday loans can lead to a cycle of debt if you cannot repay the loan on time, leading to additional fees and interest charges.

Interesting Facts about Payday Loans in Allen, Kansas

  • According to a report by the Pew Charitable Trusts, about 12 million Americans use payday loans each year.
  • In Kansas, the average payday loan borrower takes out eight loans per year, with an average loan size of $391.
  • About 75% of payday loan fees in Kansas come from borrowers who take out more than 10 loans per year, according to a report by the Kansas Office of the State Bank Commissioner.

How to Apply for a Payday Loan in Allen, Kansas

If you are considering a payday loan in Allen, Kansas, you can apply online through TheGuaranteedLoans. As a connector service, we will help facilitate your connection with potential lenders, but we are not a direct lender.

To apply for a payday loan through TheGuaranteedLoans, you will need to meet the following requirements:

  • Be at least 18 years old
  • Be a US citizen or permanent resident
  • Have a regular source of income
  • Have a valid checking account

Once you have met these requirements, you can fill out the online application, which typically takes just a few minutes. We will then connect you with potential lenders who will review your application and determine whether to approve you for a loan.

It is important to note that payday loans should be used as a last resort and only if you are sure you can repay the loan on time. If you are struggling with debt or ongoing financial problems, consider speaking with a financial advisor for guidance.

Conclusion

Payday loans can be a useful tool for covering unexpected expenses or bridging gaps in income, but they should be used with caution due to their high fees and potential for trapping borrowers in cycles of debt. If you are considering a payday loan in Allen, Kansas, be sure to understand the regulations and fees associated with the loan and apply only if you are certain you can repay the loan on time.

Remember, TheGuaranteedLoans is here to help you connect with potential lenders but should not be relied upon for financial advice or guidance. Apply for a payday loan in Allen, Kansas only if you are sure it is the right financial decision for you.

F.A.Q.

Are payday loans in Allen, Kansas regulated?

Yes, payday loans in Allen, Kansas are regulated by the Kansas Office of the State Bank Commissioner. Lenders are required to follow specific rules and regulations, including maximum interest rates and fees.

Can I renew or extend my payday loan in Allen, Kansas?

in Allen, Kansas, payday loans cannot be renewed or extended. If you are unable to repay your loan on the agreed upon date, you may be able to work with the lender to come up with a repayment plan.