Payday Loans in Kanorado, Kansas

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

Company nameAddressZip codePhone number
Ellis Credit Union 1019 Washington St, Ellis, KS 67637 +1 (785) 726 - 3499
Loan Smart 8144 E Kellogg Dr, Wichita, KS 67207 +1 (316) 685 - 5080
Rescare 1027 Washington Rd, Newton, KS 67114 +1 (316) 283 - 1687
Landmark National Bank 530 Lincoln Ave, Wamego, KS 66547 +1 (785) 456 - 2001
Advance America 539 E Santa Fe St #1b, Olathe, KS 66061 +1 (913) 254 - 1640
Farmers State Bank 447 N Harrison St, Lindsborg, KS 67456 +1 (785) 227 - 3321
Landmark National Bank 112 W 6th St, Wellsville, KS 66092 +1 (785) 883 - 2145
Community Finance of Ks Inc 15 E 5th Ave, Hutchinson, KS 67501
FirstOak Bank 501 Madison St 1327, Fredonia, KS 66736 +1 (620) 378 - 2114
GN Bankshares Inc 100 E Forest Ave, Girard, KS 66743 +1 (620) 724 - 8223

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Kanorado, KS, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan for Topeka, KS, Payday Loans in Wichita, KS, Payday Loans in Hutchinson, KS, Payday Loans in Kansas City, KS, Payday Loans in Lawrence, KS, Online Loans in Leavenworth, KS, Payday Loans in Leawood, KS and Same Day Loans in Lenexa, 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 Kanorado, KS.

Beautiful sights of Kanorado, KS

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

67741

Are Payday Loans Legal In Kanorado, Kansas?

Loan Rates and Fees, Laws and Regulations in Kansas.

Payday loans made to Kanorado, 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 Kanorado, 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

Kanorado, KS payday loan calculator

Introduction

When unexpected expenses arise, and you don’t have the cash to cover them, a payday loan can seem like a lifesaver. Payday loans can be a quick and easy way to get the money you need when you need it. In Kanorado, Kansas, payday loans are legal and regulated under state law. However, before you consider taking out a payday loan, it is essential to understand the terms and conditions of the loan and the potential risks and benefits involved. In this article, we will provide a comprehensive overview of payday loans in Kanorado, Kansas, to help you make an informed decision.

What is a Payday Loan?

A payday loan is a short-term loan that is designed to cover unexpected expenses until your next paycheck arrives. Typically, payday loans are for small amounts, such as a few hundred dollars, and are due to be repaid in full within a few weeks.

How Do Payday Loans Work in Kanorado, Kansas?

In Kansas, payday loans are limited to $500, and you cannot have more than two loans at a time. The loan term is typically between seven and 30 days. Interest rates can vary but are typically high, with APRs exceeding 400%. Lenders in Kanorado, Kansas, are required to be licensed by the Kansas Office of the State Bank Commissioner, and you can verify a lender’s license on the Commissioner’s website.

Why Do People Take Out Payday Loans?

People take out payday loans for various reasons, including:

  • Emergency expenses, such as car repairs or medical bills
  • Unexpected bills, such as a higher than usual utility bill
  • Unplanned events, such as a family emergency
  • Temporary cash flow problems, such as a delay in paycheck arrival

Pros and Cons of Payday Loans

Before you take out a payday loan in Kanorado, Kansas, it is essential to understand the potential risks and benefits.

Pros:

  • Quick and easy access to cash when you need it
  • No credit check required
  • Minimal requirements to qualify for a loan

Cons:

  • High interest rates and fees
  • Short loan terms with a quick repayment period
  • Risk of falling into a debt trap if you cannot repay the loan on time

Interesting Facts about Payday Loans in Kanorado, Kansas

  • The average payday loan in Kansas is $290, with an average APR of 391%.
  • In 2019, Kansans took out approximately 685,000 payday loans, totaling more than $267 million in loan volume.
  • Kansas has the highest cap on payday loan interest rates in the country, with a maximum APR of 391%.

How to Apply for a Payday Loan in Kanorado, Kansas

If you have weighed the potential risks and benefits of a payday loan and still wish to proceed, you can apply for a loan online through a service like TheGuaranteedLoans. As a connector service, TheGuaranteedLoans is not a direct lender but can help facilitate your connection with potential lenders. The application process is simple and straightforward and typically involves providing some basic personal and financial information. Once you submit your application, you will receive a decision within minutes and, if approved, access to funds within a few days.

Conclusion

Payday loans can be a helpful financial tool in emergencies, but they are not without risks. If you decide to take out a payday loan in Kanorado, Kansas, make sure you understand the terms and conditions of the loan, including the fees and interest rates, and have a clear plan for repayment. Remember that payday loans are a short-term solution and should not be used as a long-term financial strategy.

Apply Now

If you are in need of a payday loan in Kanorado, Kansas, apply now through TheGuaranteedLoans. Our fast and simple application process can help connect you with potential lenders quickly, and you can receive funds in as little as 24 hours. Remember that payday loans should be used responsibly and repaid as soon as possible.

F.A.Q.

Can I be arrested for defaulting on a payday loan in Kanorado, Kansas?

No, you cannot be arrested for defaulting on a payday loan in Kanorado, Kansas. However, the lender may take legal action to recover the funds, which could result in wage garnishment or other consequences.

Are there any restrictions on the number of payday loans I can take out in Kanorado, Kansas?

Yes, in Kanorado, Kansas, you are only allowed to have one outstanding payday loan at a time. This means that you cannot take out multiple payday loans from different lenders at the same time.