Payday Loans in Farlington, Kansas

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

Company nameAddressZip codePhone number
Advance America 523 N State St, Iola, KS 66749 +1 (620) 365 - 6191
Central National Bank - Inside Walmart 521 E Chestnut St, Junction City, KS 66441 +1 (785) 761 - 2982
MoneyGram 2222 Main St, Parsons, KS 67357 +1 (620) 421 - 0605
Walmart Money Center 1863 Cr 5300, Coffeyville, KS 67337 +1 (620) 251 - 4113
Advance America 1802 W Main St c, Independence, KS 67301 +1 (620) 331 - 7986
Check Into Cash 1004 41st St, Hays, KS 67601 +1 (785) 628 - 0744
Cash Link USA 1901 W 47th Pl, Mission, KS 66205 +1 (800) 939 - 7330
Walmart Money Center 2710 N Broadway St, Pittsburg, KS 66762 +1 (620) 232 - 1593
Patriots Bank 131 E 4th Ave, Garnett, KS 66032 +1 (785) 448 - 3191
Stifel 4910 Corporate Centre Dr STE 104, Lawrence, KS 66047 +1 (785) 842 - 7800

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Farlington, KS, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Lenexa, KS, Payday Loan Without a Credit Check in Manhattan, KS, Payday Loan for Olathe, KS, Emergency Loan in Overland Park, KS, Guaranteed Loans in Salina, KS, Payday Loans in Shawnee, KS, Guaranteed Loans in Topeka, KS and Bad Credit Loans in Wichita, 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 Farlington, KS.

Beautiful sights of Farlington, KS

Are Payday Loans Legal In Farlington, Kansas?

Loan Rates and Fees, Laws and Regulations in Kansas.

Payday loans made to Farlington, 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 Farlington, 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

Farlington, KS payday loan calculator

Introduction:

Farlington, Kansas is a small town surrounded by rural farmlands and a population of just over 400 people. Despite its size, many people in Farlington find themselves in need of short-term financial assistance, such as payday loans, due to unexpected expenses or emergencies.

What are Payday Loans?

A payday loan is a short-term loan that is typically due on the borrower’s next payday. These loans are designed to help individuals bridge the gap between paychecks, and are often used to cover unexpected expenses, like medical bills or car repairs. Payday loans in Farlington, Kansas are legal but regulated to ensure they are fair and just.

The Process of Obtaining a Payday Loan in Farlington

To obtain a payday loan in Farlington, Kansas, a borrower will need to provide basic personal and financial information, including their name, address, employment information, and bank account details. The lender will also need to verify the borrower’s income and employment status.

Once the lender receives this information, they will determine whether the borrower qualifies for a loan and, if so, how much they can borrow. If approved, the borrower will receive their funds either as cash or via direct deposit. The repayment terms will vary depending on the lender, but typically, borrowers have until their next payday to repay the loan in full.

Pros and Cons of Payday Loans

Payday loans can be a solution for those experiencing financial difficulties; however, like any financial obligation, they have their advantages and disadvantages. Here are some to consider:

  • Pros:
    • Speedy access to funds
    • No collateral required
    • Easy qualification process
    • Available for those with bad credit
  • Cons:
    • High interest rates and fees
    • Short repayment terms can lead to frequent renewals and accumulation of debt
    • Risk of falling into a cycle of debt if not used responsibly
    • May incur additional fees if the loan is not repaid on time

Interest Rates and Fees for Payday Loans in Farlington, Kansas

Kansas law regulates the interest rates and fees associated with payday loans. Lenders can charge no more than 15% of the loan amount in interest, and fees are capped at $15 for every $100 borrowed. This means that if a borrower takes out a $500 loan, they can expect to pay up to $75 in interest and $75 in fees, for a total of $550 due at the end of the loan term.

Facts and Statistics about Payday Loans in Farlington, Kansas

It’s essential to have accurate information about payday loans to make informed decisions when taking out a loan. Here are some factual statistics regarding payday loans in Farlington, Kansas:

  • According to a 2019 study, the average payday loan borrower in Kansas is 32 years old and makes less than $30,000 per year.
  • Approximately 7% of households in Kansas use payday loans as a means of managing their finances.
  • The average payday loan in Kansas is $392, with an average of 15 days to pay the loan back.

Apply Now with TheGuaranteedLoans

If you’re interested in obtaining a payday loan in Farlington, Kansas, TheGuaranteedLoans can help connect you with lenders. Our application process is simple and can be completed online from the comfort of your own home. Remember, TheGuaranteedLoans is not a lender but a connector service that works to facilitate your loan application process and get you access to potential lenders.

To get started on your loan application, visit our website and fill out the required information. Our team will then work to connect you with lenders who may be able to offer you the funds you need. With TheGuaranteedLoans, payday loans in Farlington, Kansas can be a solution to your financial woes.

Conclusion

Payday loans can be a helpful solution for those facing unexpected expenses or financial difficulties. If you’re considering a payday loan in Farlington, Kansas, it’s essential to be aware of the pros and cons and understand the interest rates and fees associated with these loans. With TheGuaranteedLoans, you can feel confident knowing that our team is here to help you navigate the process and connect with lenders who can provide you with the funds you need.

F.A.Q.

Are there any alternatives to payday loans in Farlington, Kansas?

Yes, there are several alternatives to payday loans in Farlington, Kansas, including borrowing from friends or family, using credit cards, or applying for a personal loan from a bank or credit union.

What are the risks of taking out a payday loan in Farlington, Kansas?

Payday loans in Farlington, Kansas can be very costly, with high interest rates and fees that can quickly add up. If you are unable to repay the loan on time, you may be subject to additional fees and charges, which can make the loan even more expensive.