Payday Loans in Milford, Kansas

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

Company nameAddressZip codePhone number
Commercial Bank 105 E 9th St, Coffeyville, KS 67337 +1 (620) 251 - 0200
Agler & Gaeddert Chartered 1225 W 6th Ave, Emporia, KS 66801 +1 (620) 342 - 7641
check n go, Check n Go Store Directory 532 N Pennsylvania Ave, Independence, KS 67301 +1 (620) 331 - 7887
Walmart Money Center 3201 N 16th St, Parsons, KS 67357 +1 (620) 421 - 0375
LendNation 7637 Metcalf Ave, Overland Park, KS 66204 +1 (866) 436 - 7124
The Bank 108 N Kansas Ave, Selden, KS 67757 +1 (785) 386 - 4389
Central National Bank ATM 231 E Main St, Marion, KS 66861 +1 (888) 262 - 5456
Check `n Go 7567 State Ave, Kansas City, KS 66112 +1 (913) 299 - 1063
United States Postal Service 563 Elm St, Bunker Hill, KS 67626 +1 (800) 275 - 8777
Silver Lake Bank 2011 SW Gage Blvd, Topeka, KS 66604 +1 (785) 272 - 2270

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Milford, KS, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Leavenworth, KS, No Credit Check Loans in Leawood, KS, Short-term Loans in Lenexa, KS, Short-term Loans in Manhattan, KS, Payday Loan Companies in Olathe, KS, Payday Loans in Overland Park, KS, Quick Loan in Salina, KS and Bad Credit Loans in Shawnee, 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 Milford, KS.

Beautiful sights of Milford, KS

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

66514

Are Payday Loans Legal In Milford, Kansas?

Loan Rates and Fees, Laws and Regulations in Kansas.

Payday loans made to Milford, 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 Milford, 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

Milford, KS payday loan calculator

Payday Loans in Milford, Kansas

When financial hardship strikes and you need cash fast, payday loans can be a lifesaver. However, it’s vital to understand how they work and what the potential risks and benefits are before applying. In this article, we’ll provide an in-depth guide to payday loans in Milford, Kansas.

What are Payday Loans?

Payday loans are a type of short-term borrowing where lenders offer a small loan at a high-interest rate, usually for two weeks. They are intended to help people who are facing a financial crisis and need quick access to cash.

Payday loans differ from traditional loans in several ways:

  • They have a shorter repayment period (usually two weeks)
  • They have a higher interest rate than other forms of credit
  • Borrowers do not need a good credit score to apply
  • The application process is typically fast and easy with minimal requirements

Are Payday Loans Legal in Kansas?

Yes, payday loans are legal in Kansas. However, there are regulations in place to protect borrowers from predatory lending practices.

The state of Kansas limits the amount a person can borrow to $500 and requires lenders to verify a borrower’s income before approving a loan. Additionally, there is a limit on the interest rate lenders can charge, which is set at 15% of the loan amount.

Advantages of Payday Loans

There are several advantages to payday loans:

  • Quick and easy application process: Most lenders offer a simple online application process that takes only a few minutes to complete
  • Accessibility: Even if you have poor credit, you can still be approved for a payday loan, making it an accessible option for many people
  • Fast access to cash: With payday loans, the funds are typically deposited into your account within 24 hours

Risks of Payday Loans

While payday loans can be a great solution for those facing a financial crisis, they do come with some risks. Here are a few things to keep in mind:

  • High interest rates: The interest rates on payday loans are incredibly high and can be upwards of 400%. This means that even a small loan of $500 can quickly become very expensive if not paid back on time
  • Short repayment period: Borrowers only have two weeks to repay the loan in full. If they are unable to do so, they may have to take out another loan to cover the first loan’s cost, leading to a cycle of debt.
  • Potential for predatory lending: Some lenders may engage in predatory lending practices, such as offering loans to people who can’t afford them or tacking on excessive fees and charges.

Interesting facts or statistics about Payday loans in Milford, Kansas

  • As per the data available on The Milford city’s official website, there were 684 households of which 35.2% had children under the age of 18 years
  • A report by the Campaign for Fair Finance reveals that Kansas has some of the highest interest rates on payday loans in the country, with rates averaging around 391%.
  • According to Kansas law, borrowers can not have more than two outstanding payday loans at the same time, and the maximum loan term is 30 days.

Apply Now

If you need a payday loan in Milford, Kansas, TheGuaranteedLoans can help you find a lender. Our online application process is quick and easy, allowing you to get the cash you need as soon as possible. Please note that TheGuaranteedLoans is a connector service, not a direct lender. We will facilitate your connection with potential lenders.

Click on the “Apply Now” button and fill out our online application form to get started.

Conclusion

Overall, payday loans can be a helpful tool for those who need fast access to cash. However, it’s important to be aware of the potential risks and to borrow only what you can afford to repay. If you’re considering a payday loan, be sure to do your research and choose a reputable lender.

F.A.Q.

How do I qualify for a payday loan in Milford, Kansas?

To qualify for a payday loan in Milford, Kansas, you must be at least 18 years old, have a steady source of income, and have a valid checking account.

How much can I borrow with a payday loan in Milford, Kansas?

The amount you can borrow with a payday loan in Milford, Kansas is typically based on your income and your ability to repay the loan. The maximum amount you can borrow is $500.