Payday Loans in Elbing, Kansas

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

Company nameAddressZip codePhone number
Arvest Bank 119 E 3rd St, Ottawa, KS 66067 +1 (785) 229 - 3930
payday Loans Mission, KS 66205
Bambick Joseph M 430 N 7th St, Fredonia, KS 66736 +1 (620) 378 - 2182
Community National Bank & Trust 120 E Madison Ave, Iola, KS 66749 +1 (620) 365 - 6000
First Option Bank Osawatomie 601 Main St, Osawatomie, KS 66064 +1 (913) 557 - 0800
GNBank 110 E 8th St, Horton, KS 66439 +1 (785) 486 - 2124
The Community Bank 2320 N Kansas Ave, Liberal, KS 67901 +1 (620) 624 - 0462
Landmark National Bank 1310 Baptiste Dr, Paola, KS 66071 +1 (913) 294 - 5324
Helping Hand Quick Cash 1309 W 6th Ave, Emporia, KS 66801 +1 (620) 342 - 8999
Citizens State Bank 32 Main St, Hamilton, KS 66853 +1 (620) 678 - 3310

Payday Loan Companies in Nearby Cities

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

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

67041

Are Payday Loans Legal In Elbing, Kansas?

Loan Rates and Fees, Laws and Regulations in Kansas.

Payday loans made to Elbing, 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 Elbing, 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

Elbing, KS payday loan calculator

The Ins and Outs of Payday Loans in Elbing, Kansas

Payday loans are a type of short-term loan that are typically taken out by individuals who need immediate cash to cover expenses until their next paycheck. In Elbing, Kansas, payday loans are legal, but it’s important to understand the regulations and potential risks before taking out one of these loans.

What Are Payday Loans?

Payday loans are small loans that are usually due on the borrower’s next payday. They can be useful for individuals who have an unexpected expense, such as a car repair or medical bill, that they cannot cover with their regular income. The borrower typically writes a postdated check for the loan amount plus fees, and the lender cashes the check on the due date.

In Elbing, Kansas, payday loan amounts are limited to $500 and the loan term cannot exceed 30 days. The lender can charge fees of up to 15% of the loan amount, which can equal to an APR of 390%. Lenders are also required to be licensed by the state of Kansas.

What Are the Risks of Payday Loans?

While payday loans can be helpful in the short term, they can also be dangerous for borrowers who are not able to repay the loan on time. This can lead to a cycle of debt that can be difficult to escape.

  • High fees: Payday loan fees can add up quickly, especially if the borrower is unable to pay back the loan on time. This can result in a very high effective interest rate.
  • Debt cycle: Borrowers who cannot pay back the loan on time may be tempted to take out another payday loan to cover the original loan, leading to a cycle of debt.
  • Bank account damage: If the borrower’s check bounces, they may face additional fees from their bank and damage to their credit score.

Interesting Facts and Statistics about Payday Loans in Elbing, Kansas

  • Kansas has some of the highest payday loan fees in the country, with average fees of 391% APR.
  • In 2019, Kansas payday lenders made over 350,000 loans that resulted in almost $100 million in fees.
  • Payday lending is a $46 billion industry in the United States.
  • The average payday loan in Kansas is for $307, and the average term is 18 days.

Applying for a Payday Loan in Elbing, Kansas

If you are considering a payday loan, it’s important to understand the risks and make sure you can afford to repay the loan on time. To apply for a payday loan in Elbing, Kansas, you must be at least 18 years old with a valid government-issued ID and a regular source of income. You can apply online or in person at a payday lending store.

Apply Now

If you are in need of a payday loan, TheGuaranteedLoans can help connect you with potential lenders. We are not a direct lender, but we can facilitate the loan application process and help you find a lender that meets your needs. To get started, simply fill out an online application on our website.

Remember, a payday loan can be a helpful solution in the short term, but it’s important to consider the risks and make sure you can afford to repay the loan on time.

F.A.Q.

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

Yes, payday loan lenders in Elbing, 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 Elbing, Kansas garnish my wages if I default on my loan?

Yes, payday loan lenders in Elbing, 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.