Payday Loans in Grainfield, Kansas

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

Company nameAddressZip codePhone number
Farmers State Bank 447 N Harrison St, Lindsborg, KS 67456 +1 (785) 227 - 3321
Kansas Super Chief Cu 811 NW 25th St, Topeka, KS 66618 +1 (785) 228 - 0149
Salt City Pawn 916 E 4th Ave, Hutchinson, KS 67501 +1 (620) 662 - 0403
First State Bank & Trust Co 906 E 1st St, Pratt, KS 67124 +1 (620) 672 - 5925
Money Mart 2520 S 9th St, Salina, KS 67401 +1 (785) 823 - 2525
Wichita Federal Credit Union 455 N Main St 410, Wichita, KS 67202 +1 (316) 941 - 0600
Commerce Bank 101 E 30th Ave, Hutchinson, KS 67502 +1 (620) 669 - 3000
Bank of Commerce & Trust Co 201 W Harvey Ave, Wellington, KS 67152 +1 (620) 326 - 7471
Patriots Bank 1508 US-59, Princeton, KS 66078 +1 (785) 937 - 2265
Commerce Bank 2830 S 4th St, Leavenworth, KS 66048 +1 (913) 758 - 2802

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Grainfield, KS, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Leawood, KS, 24-Hour Loan in Lenexa, KS, Payday Loans in Manhattan, KS, Payday Loans in Olathe, KS, Payday Loans in Overland Park, KS, Payday Loans in Salina, KS, Payday Loan Companies in Shawnee, KS and Quick Loan in Topeka, 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 Grainfield, KS.

Beautiful sights of Grainfield, KS

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

67737

Are Payday Loans Legal In Grainfield, Kansas?

Loan Rates and Fees, Laws and Regulations in Kansas.

Payday loans made to Grainfield, 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 Grainfield, 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

Grainfield, KS payday loan calculator

Everything You Need to Know about Payday Loans in Grainfield, Kansas

Payday loans are personal loans that offer quick cash to cover unexpected expenses. They are used by many Americans to pay bills or expenses that arise before their next payday. Grainfield, Kansas, like many other states, has its laws and regulations guiding the operations of payday lenders. In this article, you’ll find out everything you need to know about payday loans in Grainfield, Kansas, and how to make the most of them.

How Do Payday Loans Work in Grainfield, Kansas?

In Grainfield, Kansas, payday loans are readily available through storefront lenders and online platforms. The process usually involves the borrower writing a postdated check for the loan amount plus fees and interest. The lender then issues the borrower the loan minus the fees and interest, and the check is held as collateral until the borrower repays the loan in full on their next payday. Alternatively, the lender may require a postdated debit authorization that allows them to debit the loan amount plus fees and interest directly from the borrower’s bank account on the due date.

What Are the Laws That Regulate Payday Loans in Grainfield, Kansas?

Payday loans are legal in Kansas, but the state has different regulations that govern the operations of payday lenders. In Grainfield, Kansas, payday lenders must have a valid license before they can operate. They are prohibited from charging more than 15% of the loan amount as fees and interest. The state also prohibits lenders from issuing more than two loans to a borrower at once, and the loan period should not exceed 30 days.

Who Qualifies for a Payday Loan in Grainfield, Kansas?

To qualify for a payday loan in Grainfield, Kansas, you must be at least 18 years old, have a valid government-issued ID, a source of income, and a checking or savings account. Your credit score or history is not a factor in determining your eligibility for a payday loan, although some lenders may run a soft or hard credit check to verify your identity or creditworthiness.

What Are the Benefits of Payday Loans?

  • Quick cash: Payday loans provide quick cash to cover emergency expenses. The application process is straightforward, and the funds are usually available within 24 hours.
  • No collateral: Unlike traditional loans, payday loans do not require collateral. Your paycheck or bank account serves as collateral for the loan, and you can access the funds without risking your assets.
  • No credit check: Payday loans do not require a credit check, which means even people with poor credit can access quick cash when they need it.

What Are the Risks of Payday Loans?

  • High fees and interest rates: Payday loans charge high fees and interest rates, which can add up quickly over time. Some lenders may charge up to 391% APR or more, making it difficult to repay the loan in full on time.
  • Debt cycle: Many borrowers find themselves trapped in a debt cycle, where they take out multiple loans to pay off existing ones. This can lead to a dangerous spiral of debt that can be difficult to escape.
  • Scams and fraud: Some payday lenders may engage in predatory practices, such as charging undisclosed fees, or making unauthorized withdrawals from borrowers’ bank accounts. It is essential to only borrow from reputable lenders who have a track record of transparency and fair practices.

Interesting Facts and Statistics about Payday Loans in Grainfield, Kansas

  • According to the Center for Responsible Lending, the average APR for payday loans in Kansas is 391%.
  • Between 2009 and 2020, the number of payday lending storefronts in Kansas declined from 352 to 83.
  • The Kansas Attorney General’s Consumer Protection Division has received over 500 complaints from Kansas residents regarding payday loans since 2015.

Apply Now

If you find yourself in need of a payday loan in Grainfield, Kansas, TheGuaranteedLoans is here to help. We are a connector service that will connect you with potential lenders who meet your needs. Our online application process is fast, secure, and easy to use. Remember, we are not a direct lender, and our services are free of charge. Visit our website today to begin your application and let us help you get the cash you need!

F.A.Q.

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

Yes, you can extend or renew your payday loan in Grainfield, Kansas, but keep in mind that this will result in additional fees and interest charges. It is recommended to only consider this option if you are unable to repay the loan on time and have no other options available.

Can I cancel a payday loan in Grainfield, Kansas after I have signed the contract?

Yes, you have the right to cancel a payday loan in Grainfield, Kansas within three business days of signing the contract. This is known as the "right of rescission," and you can do so by contacting the lender in writing and returning any funds you have received.