Payday Loans in Elk Falls, Kansas

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

Company nameAddressZip codePhone number
Fidelity Bank - Revolutsia 2721 E Central Ave Suite 119, Wichita, KS 67214 +1 (800) 658 - 1637
First National Bank & Trust 225 State St, Phillipsburg, KS 67661 +1 (785) 543 - 6511
Commerce Bank - Kansas State Student Union 918 N 17th St, Kansas State Student Union, Manhattan, KS 66506 +1 (785) 537 - 1234
Advance America 433 East Chestnut, Junction City, KS 66441 +1 (785) 238 - 1633
Advance America 602 State St, Emporia, KS 66801 +1 (620) 342 - 9797
CheckSmart 4996 Roe Ave, Roeland Park, KS 66205 +1 (913) 362 - 4100
ATM - Bank Midwest 1506 S Main St, Ottawa, KS 66067 +1 (800) 867 - 2265
Perfect Payday Loan 6709 W 119th St, Overland Park, KS 66209 +1 (866) 829 - 4551
Pishny Financial Services 1521 E Fulton St, Garden City, KS 67846 +1 (620) 276 - 3437
Western Union Check Into Cash, 1004 W 8th St Ste 80, Wellington, KS 67152 +1 (620) 399 - 8914

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Elk Falls, KS, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Companies in Wichita, KS, Payday Loans in Hutchinson, KS, Payday Loans in Kansas City, KS, Payday Loan Companies in Lawrence, KS, Short-term Loans in Leavenworth, KS, Payday Loan Without a Credit Check in Leawood, KS, Same Day Loans in Lenexa, KS and Short-term Loans in Manhattan, 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 Elk Falls, KS.

Beautiful sights of Elk Falls, KS

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

67345

Are Payday Loans Legal In Elk Falls, Kansas?

Loan Rates and Fees, Laws and Regulations in Kansas.

Payday loans made to Elk Falls, 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 Elk Falls, 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

Elk Falls, KS payday loan calculator

Payday Loans in Elk Falls, Kansas – Understanding the Basics

If you live in Elk Falls, Kansas, and are struggling financially, you may have considered taking out a payday loan. Payday loans are a popular short-term borrowing option for those in need of immediate cash. However, before taking out a payday loan, it’s important to understand how they work and the potential risks involved.

What are Payday Loans?

Payday loans are typically small, short-term loans that borrowers take out against their next paycheck. These loans are often used to cover unexpected expenses or bridge a gap between paychecks. In Kansas, payday loans are legal, but there are specific regulations in place to protect consumers.

The Application Process

If you decide to apply for a payday loan, the application process is typically straightforward. You’ll need to provide proof of employment and income, as well as a valid ID. Lenders may also require a post-dated check to cover the loan and fees.

Once you’re approved, the funds will be deposited into your bank account, and you’ll be expected to repay the loan and fees on your next payday. If you’re unable to repay the loan on time, you may be able to roll it over by paying additional fees.

Potential Risks

While payday loans can be a helpful financial tool in certain situations, they come with significant risks. One of the biggest risks is the high-interest rates and fees associated with payday loans. In Kansas, lenders are allowed to charge up to 15% interest on loans of $100 or less, with a maximum term of 7-30 days, and up to 3% interest per month on loans between $100 and $500. If you’re unable to repay the loan on time, the fees can quickly add up, leaving you in worse financial shape than before you borrowed the money.

Another potential risk is the cycle of debt that payday loans can create. Many borrowers who take out payday loans find themselves unable to repay the loan on time, leading them to roll the loan over and incur additional fees. This can quickly spiral out of control, leaving the borrower in a never-ending cycle of debt.

Interesting Facts and Statistics

  • According to a study by the Pew Charitable Trusts, the average payday loan borrower takes out 8 loans per year, with an average loan amount of $375.
  • The same study found that 69% of payday loan borrowers use the loans to cover recurring expenses, such as rent and utilities, rather than unexpected expenses.
  • In Kansas, there are currently over 300 licensed payday lenders operating in the state.

Apply Now

If you’re considering taking out a payday loan in Elk Falls, Kansas, TheGuaranteedLoans can help. We’re a connector service that links borrowers with potential lenders. Our online application is quick and easy, and we work with a network of trusted lenders who can provide you with the cash you need. Keep in mind that we’re not a direct lender, and our service is free to use. Apply now and take the first step towards getting the financial assistance you need.

F.A.Q.

Are there any resources available to help me avoid taking out a payday loan in Elk Falls, Kansas?

Yes, there are resources available to help you avoid taking out a payday loan in Elk Falls, Kansas. For example, you can contact a credit counseling agency for advice on managing your finances and finding alternative sources of funding. You can also explore options for emergency assistance from nonprofit organizations or government programs.

What are payday loans in Elk Falls, Kansas?

Payday loans are short-term, high-interest loans that are typically used to cover unexpected expenses or emergencies.