Payday Loans in Peru, Kansas

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

Company nameAddressZip codePhone number
Bank of Tescott 2040 S Ohio St, Salina, KS 67401 +1 (785) 452 - 9975
Cash 2 Go 104 E Logan St, Ottawa, KS 66067 +1 (785) 242 - 8003
King of Kash 2611 SW 17th St, Topeka, KS 66604 +1 (785) 596 - 8955
Landmark National Bank 808 Main St, La Crosse, KS 67548 +1 (785) 222 - 3546
GNBank 110 E 8th St, Horton, KS 66439 +1 (785) 486 - 2124
Romans Outdoor Power, Inc. 2313 W Main St, Independence, KS 67301 +1 (620) 331 - 2970
Payday Loan in Pittsburg N Locust St, Pittsburg, KS 66762 +1 (877) 780 - 1645
Loanmax Title Loans 2434 Iowa St, Lawrence, KS 66046 +1 (785) 330 - 7336
Bank of the West 324 W 14th St, Larned, KS 67550 +1 (620) 285 - 2163
The Citizens State Bank 600 E Main St, Goessel, KS 67053 +1 (620) 367 - 2264

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Peru, KS, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Without a Credit Check in Hutchinson, KS, Emergency Loan in Kansas City, KS, Payday Loans in Lawrence, KS, Bad Credit Loans in Leavenworth, KS, Payday Loans in Leawood, KS, Same Day Loans in Lenexa, KS, Payday Loan Without a Credit Check in Manhattan, KS and Guaranteed Loans in Olathe, 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 Peru, KS.

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

67360

Are Payday Loans Legal In Peru, Kansas?

Loan Rates and Fees, Laws and Regulations in Kansas.

Payday loans made to Peru, 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 Peru, 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

Peru, KS payday loan calculator

Understanding Payday Loans in Peru, Kansas

In recent years, payday loans have become increasingly popular in many states across the US. In Kansas, payday loans are legal and are widely accessible to people who need money fast. These short-term loans are usually for small amounts of money, with a typical term of two weeks to 30 days. In Peru, Kansas, many people rely on payday loans for emergency situations and unexpected expenses.

How Payday Loans Work in Peru, Kansas

Payday loans are a type of unsecured loan that people can apply for without collateral such as a house or car. Instead, lenders rely on the borrower’s income and credit score to determine eligibility for the loan. In Peru, Kansas, payday loans are typically easy to obtain, with few requirements beyond proof of income and identification. Lenders may offer payday loans in amounts up to $500, although some lenders may offer more to those with good credit scores.

When a borrower takes out a payday loan in Peru, Kansas, they must agree to pay back the loan with interest and fees by the end of the loan term. The amount of interest and fees that lenders can charge is regulated at the state level in Kansas. For loans under $200, lenders can charge up to 15% of the loan amount as interest and fees. For loans over $200, lenders can charge up to 3% of the loan amount per month in interest and fees. This means that a borrower who takes out a $100 payday loan in Peru, Kansas, might have to pay back $115 at the end of the loan term, while a borrower who takes out a $500 loan might have to pay back $545.

Advantages and Disadvantages of Payday Loans in Peru, Kansas

Payday loans can be helpful for people who need money quickly and who have poor credit scores or no other options for borrowing money. For example, someone who has an unexpected car repair bill might benefit from a payday loan to cover the cost until they receive their next paycheck.

However, there are also risks associated with payday loans in Peru, Kansas, and other states. The high-interest rates and fees can make it difficult for borrowers to pay back the loan on time, leading to additional fees and interest charges. This can create a cycle of debt that is difficult to break out of. Additionally, some payday lenders may engage in predatory practices such as offering loans to people who cannot afford to repay them or encouraging borrowers to take out larger loans than they need.

Interesting Facts and Statistics about Payday Loans in Peru, Kansas

  • In Kansas, payday lenders are required to be licensed with the Office of the State Bank Commissioner.
  • As of 2021, there are over 300 payday lenders operating in Kansas, offering loans in more than 1,000 locations across the state.
  • The average payday loan borrower in Kansas has an annual income of around $30,000.
  • According to a study by the Pew Charitable Trusts, the average payday loan borrower in the US takes out eight loans per year, with an average loan amount of $375 and an average annual interest rate of 391%.

Apply Now for a Payday Loan in Peru, Kansas

If you need a payday loan in Peru, Kansas, TheGuaranteedLoans can help connect you with lenders who may be able to offer you a loan. Our online application process is fast and easy, and we work with a network of reputable lenders who are committed to following all state and federal regulations. Remember, payday loans should be used responsibly and only for emergency situations. If you have any questions or concerns about payday loans, contact us today.

Note: TheGuaranteedLoans is a connection service, not a direct lender. We do not control the terms of your loan, including fees and interest rates. Please review any loan agreements carefully before accepting a loan offer.

F.A.Q.

Are there alternatives to payday loans in Peru, Kansas?

Yes, there are alternatives to payday loans in Peru, Kansas, such as borrowing from friends or family, applying for a small personal loan from a bank or credit union, or seeking assistance from a nonprofit organization.

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

Yes, you can extend or renew your payday loan in Peru, 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.