Payday Loans in Colwich, Kansas

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

Company nameAddressZip codePhone number
Frontier Farm Credit 835 Pony Express Hwy, Marysville, KS 66508 +1 (785) 562 - 2371
LibertyX Bitcoin ATM 1980 S Range, Colby, KS 67701 +1 (800) 511 - 8940
Wilson State Bank 101 S Main St, Beverly, KS 67423 +1 (785) 436 - 2338
Advance America 1712 S National Ave, Fort Scott, KS 66701 +1 (620) 223 - 4529
First National Bank 210 Bird Ave, Bird City, KS 67731 +1 (785) 734 - 2100
Union State Bank 527 N Main St, Newton, KS 67114 +1 (316) 283 - 1700
First National Bank of Kansas 600 N 4th St, Burlington, KS 66839 +1 (620) 364 - 8472
Cash 2 Go 4026 Parkview Dr, Pittsburg, KS 66762 +1 (620) 231 - 1647
Community National Bank & Trust 102 N 4th, Neodesha, KS 66757 +1 (620) 325 - 2900
Central National Bank Lending Services Office 1010 Lincoln Ave, Wamego, KS 66547 +1 (785) 456 - 7733

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Colwich, KS, you can try to find different companies in big cities near by. Check out the following pages here: Emergency Loan in Kansas City, KS, Payday Loans in Lawrence, KS, Payday Loans in Leavenworth, KS, Payday Loans in Leawood, KS, Payday Loans in Lenexa, KS, Payday Loans in Manhattan, KS, No Credit Check Loans in Olathe, KS and Payday Loan Without a Credit Check in Overland Park, 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 Colwich, KS.

Beautiful sights of Colwich, KS

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

67030

Are Payday Loans Legal In Colwich, Kansas?

Loan Rates and Fees, Laws and Regulations in Kansas.

Payday loans made to Colwich, 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 Colwich, 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

Colwich, KS payday loan calculator

Understanding Payday Loans in Colwich, Kansas

In today’s fast-paced world, there are times when unexpected expenses occur, and people need a short-term solution to make ends meet until the next paycheck arrives. This is where payday loans come into the picture. Payday loans in Colwich, Kansas, provide a way for residents of the state to get quick access to cash for emergency expenses. However, as with any financial product, it’s essential to understand the pros and cons of payday loans before taking one out.

What Are Payday Loans?

Payday loans are small-dollar, short-term loans typically used to cover unexpected expenses. These loans typically range from $100 to $1,000 and have a repayment term of two to four weeks. The borrower writes a post-dated check or provides electronic access to their bank account, and the lender advances them cash. The loan amount plus fees are due on the borrower’s next payday.

How Do Payday Loans Work in Colwich, Kansas?

In Kansas, payday loans are legal and governed by the Kansas Statutes Annotated, Section 16a-2-404. Under these laws, payday lenders must obtain a license from the state and follow specific rules and regulations. The maximum loan amount is $500, and lenders can charge up to 15% in fees per $100 borrowed. Additionally, lenders must provide disclosures about the loan terms to borrowers, including the finance charges and annual percentage rate (APR).

Once a borrower is approved for a payday loan, they will receive their funds immediately, either in cash or through direct deposit into their bank account. On the due date, the lender will cash the borrower’s check or electronically debit their bank account for the loan amount plus fees. If the borrower is unable to pay the loan in full, they may be able to roll over the loan for an additional fee.

Pros of Payday Loans

  • Quick access to cash
  • No collateral required
  • No credit check required
  • Easy to qualify for

Payday loans can be helpful for individuals who need immediate access to cash and have no other options. These loans are easy to qualify for, and borrowers with bad credit or no credit history can still get approved. Additionally, there is no collateral required, meaning borrowers do not need to put up any assets to secure the loan. This is different from other types of loans, like auto loans or mortgages, which require collateral.

Cons of Payday Loans

  • High fees and interest rates
  • Short repayment terms
  • Risk of getting trapped in a debt cycle

The biggest downside to payday loans is the high fees and interest rates. In Kansas, lenders can charge up to 15% in fees per $100 borrowed. This means if a borrower takes out a $500 loan, they could end up paying $75 in fees alone. Additionally, the repayment terms are short, typically two to four weeks, which can make it difficult for borrowers to repay the loan on time. This can lead to rolling over the loan and incurring additional fees, which can trap borrowers in a debt cycle.

Interesting Facts and Statistics about Payday Loans in Colwich, Kansas

  • The average payday loan amount borrowed in Kansas is $320.
  • The average finance charge per $100 borrowed in Kansas is $15.26.
  • In 2020, Kansas payday loan lenders charged $36.2 million in fees on loans.
  • Payday loans in Kansas have an APR of 391% on average.

Apply Now

If you are a resident of Colwich, Kansas, and need a payday loan, visit TheGuaranteedLoans website and fill out our online application form. We are a connector service that helps consumers find potential lenders who may be able to provide them with a loan. We aim to connect you with a lender that fits your financial needs, so you can get the cash you need quickly and easily. Remember, payday loans should only be used for emergency expenses and not as a long-term financial solution.

Disclaimer: TheGuaranteedLoans is not a direct lender. We are only a referral service and do not make loan decisions. We cannot guarantee approval or the amount of funds you may receive. We are not responsible for any fees or terms presented by lenders.

F.A.Q.

Are there any restrictions on how payday loan lenders in Colwich, Kansas can advertise their services?

Yes, payday loan lenders in Colwich, Kansas are subject to certain restrictions on their advertising practices. For example, they are prohibited from using false or misleading statements, and must clearly disclose the terms and conditions of their loans, including the fees and interest charges.

Can payday loan lenders in Colwich, Kansas garnish my wages if I default on my loan?

Yes, payday loan lenders in Colwich, Kansas have the right to garnish your wages if you default on your loan. However, they must first obtain a judgment from the court, and the amount garnished cannot exceed 25% of your disposable income.