Payday Loans in Norway, Kansas

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

Company nameAddressZip codePhone number
Alden State Bank 124 N Broadway Ave, Sterling, KS 67579 +1 (620) 278 - 2244
First Bank 128 S Broadway Ave, Sterling, KS 67579 +1 (620) 278 - 2161
Conway Bank 124 E Spring Ave, Conway Springs, KS 67031 +1 (620) 456 - 2255
Citizens State Bank 428 Neosho St, Burlington, KS 66839 +1 (620) 364 - 8211
TitleMax Title Loans 1700 SW Wanamaker Rd, Topeka, KS 66604 +1 (785) 229 - 0965
Loughmiller Motors 2007 N Broadway 2826, Pittsburg, KS 66762 +1 (620) 231 - 2277
Title & Payday Loans Manhattan, KS 66503
First Option Bank Elwood 209 Roseport Rd, Elwood, KS 66024 +1 (913) 557 - 0800
Check Into Cash 906 Hall St, Coffeyville, KS 67337 +1 (620) 251 - 6769
Barri Agent 116 Gunsmoke St, Dodge City, KS 67801

Payday Loan Companies in Nearby Cities

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

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

66961

Are Payday Loans Legal In Norway, Kansas?

Loan Rates and Fees, Laws and Regulations in Kansas.

Payday loans made to Norway, 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 Norway, 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

Norway, KS payday loan calculator

Payday Loans in Norway, Kansas: An Overview

If you live in Norway, Kansas, and need money quickly to cover emergency expenses, a payday loan may be a viable option. It’s essential to understand the advantages and disadvantages of payday loans before taking out a loan of this kind.

What is a Payday Loan?

A payday loan is a type of consumer loan that allows borrowers to obtain a small amount of cash quickly. The borrower writes a postdated check, or gives the lender access to their bank account, for the amount of the loan plus interest and fees. The due date of the loan is typically the borrower’s next payday.

How Payday Loans Work in Kansas

In Kansas, payday loans are legal, and a borrower can receive up to $500 from a payday lender. The loan term can range from seven to 30 days. However, lenders cannot charge more than 15% interest on the loan amount and must provide the borrower with a written agreement that discloses fees and the annual percentage rate (APR).

Many lenders offer online payday loans in Kansas, which allow borrowers to apply and potentially receive funds without leaving their home.

Advantages of Payday Loans

  • Accessible cash: payday loans are easy to obtain, with many lenders offering instant approval.
  • Short-term solution: payday loans are designed to be repaid quickly, meaning that borrowers are not indebted for a long time.
  • No credit check: payday lenders typically do not perform a credit check. This means that borrowers with bad credit scores may still be eligible for a loan.

Disadvantages of Payday Loans

  • High interest rates: while Kansas law caps interest rates at 15%, this can still be exorbitantly high for small loans, leading to a cycle of debt.
  • Short repayment period: borrowers who cannot repay their loan or find themselves in a worse financial position after taking out a payday loan may struggle to meet the repayment obligations in time.
  • Impact on credit: if a borrower cannot repay their loan on time, this may negatively affect their credit score.

Interesting Statistics about Payday Loans in Norway, Kansas

  • As of April 2021, there are over 300 licensed payday lending companies in Kansas.
  • The average payday loan in Kansas is $295.
  • According to a report by Pew Charitable Trusts, 12 million Americans use payday loans each year.

Apply Now with TheGuaranteedLoans

TheGuaranteedLoans can connect you with potential payday loan lenders who may be able to offer the funds you need. We are a connector service, not a direct lender, and all lenders that we connect to our clients are licensed and comply with state and federal laws.

To apply for a payday loan in Norway, Kansas, visit our website and fill out an online application. We will find a lender that will work best for your situation and provide you with the loan details, fees, and repayment terms. Once you accept the loan, the funds will be deposited into your account typically within one business day.

Remember, a payday loan is a short-term solution that you should only use in case of emergency. Always make sure to read and understand the terms and conditions of any loan before accepting it.

F.A.Q.

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

Payday loans in Norway, 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.

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

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