Payday Loans in Banner, Kentucky

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No payday loan companies in Banner, KY. Consider companies in other cities:

Company nameAddressZip codePhone number
Corbin Financial Services 15100 US-25 3, Corbin, KY 40701 +1 (606) 526 - 7200
Cashland 2 N Green St, Henderson, KY 42420 +1 (270) 827 - 9846
Heights Finance Corporation 102 Finley Dr #105, Georgetown, KY 40324 +1 (502) 570 - 0301
Personal Finance Company 215 N Main St, Marion, KY 42064 +1 (270) 965 - 0003
World Finance Corporation Kentucky 120 Keen St, Burkesville, KY 42717 +1 (270) 864 - 3741
Nicholas Financial Inc 8121 Connector Dr, Florence, KY 41042 +1 (859) 647 - 6701
First Financial Credit 310 Steve Dr 4, Russell Springs, KY 42642 +1 (270) 866 - 4255
Ky Cash Advance 367 Richmond Rd, Irvine, KY 40336 +1 (606) 723 - 0090
Fort Knox DFMWR Building 4248 Bullion Blvd, Fort Knox, KY 40121 +1 (502) 624 - 2628
Fifth Third Bank & ATM 312 N Main St, Marion, KY 42064 +1 (270) 965 - 3196

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Banner, KY, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Florence, KY, Emergency Loan in Georgetown, KY, Payday Loan for Hopkinsville, KY, Payday Loans in Louisville, KY, Short-term Loans in Owensboro, KY and Payday Loan Without a Credit Check in Richmond, KY. 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 Banner, KY.

Are Payday Loans Legal In Banner, Kentucky?

Loan Rates and Fees, Laws and Regulations in Kentucky.

Kentucky Loan Regulations

Legal StatusLegal (Applies to check cashers only)
Interest Rate (APR, %)460
Maximum Loan Amount$500
Minimum Loan TermNot Specified
Maximum Loan Term60 days
Number of Rollovers Allowed0
Finance Charges$15 per $100

Banner, KY payday loan calculator

The Ins and Outs of Payday Loans in Banner, Kentucky

If you are in a financial bind and need some quick cash, a payday loan might seem like a good solution. While payday loans can provide funding in a pinch, they come with some significant risks that are worth knowing about – especially if you live in Banner, Kentucky. Here’s what you need to know about payday loans in Banner, Kentucky including how to apply, the risks involved, and some interesting facts and statistics.

The Basics of Payday Loans

A payday loan, also known as a cash advance or short-term loan, is a type of loan where you borrow a small amount of money (usually less than $500) for a short period of time (usually two weeks or less) at a high interest rate. The idea is that you will pay back the loan when you receive your next paycheck. In Banner, Kentucky, payday loans are legal, but only check cashers are allowed to offer this type of loan.

How to Apply for a Payday Loan in Banner, Kentucky

If you need a payday loan in Banner, Kentucky, you can apply for one by visiting a check cashing business or payday loan provider. You will need to provide some basic information about yourself, including your name, address, and employment information. You will also need to provide a post-dated check or authorize an electronic withdrawal from your bank account for the amount of the loan plus fees and interest. If you are approved for the loan, you will typically receive your funds in cash or via direct deposit into your bank account.

The Risks of Payday Loans

While payday loans can be a temporary solution to a financial problem, they come with some significant risks. One of the biggest risks is that the interest rates on payday loans are very high – often in excess of 400%. That can make it very difficult to pay the loan back on time, which can result in additional fees and interest charges. This “rollover” effect can quickly spiral out of control, leaving borrowers with a mountain of debt that can be difficult to escape.

Additionally, because payday loans are often targeted at people with poor credit or who are in financial distress, they can be a very expensive way to borrow money. For example, a $500 payday loan with a 400% interest rate would result in $200 in interest and fees over the course of just one month. That’s a steep price to pay for a small loan, and it can make it even harder to get back on track financially.

Interesting Facts and Statistics About Payday Loans in Banner, Kentucky

  • There are 349 payday loan businesses operating in Kentucky.
  • The average payday loan in Kentucky is $340.
  • The average interest rate for a payday loan in Kentucky is 391%.
  • Most payday loans in Kentucky are taken out by people who earn less than $30,000 per year.

Apply Now

If you are interested in applying for a payday loan in Banner, Kentucky, TheGuaranteedLoans can help. We are a connector service that works with a network of potential lenders to help you find the right loan for your needs. To get started, simply fill out our online application. Keep in mind that while we are not a direct lender, we can help connect you with potential lenders who may be able to offer you a loan that meets your needs.

Overall, it’s important to approach payday loans with caution and only consider them as a last resort. While they can provide some temporary relief, the risks associated with payday loans can be steep. If you do need to borrow money, be sure to explore all of your options and read the terms and conditions carefully before signing any loan agreements.

F.A.Q.

What fees are associated with payday loans in Banner, Kentucky?

Payday loans in Banner, Kentucky may have fees for late payments, insufficient funds, or other penalties. Be sure to carefully review the terms of the loan before agreeing to it.

Can I apply for a payday loan if I am currently in bankruptcy in Banner, Kentucky?

No, individuals who are currently in bankruptcy are not eligible for payday loans in Banner, Kentucky.