Payday Loans in Bonnyman, Kentucky

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

Company nameAddressZip codePhone number
Check Advance 1575 Old US Hwy 68 Loop 2, Maysville, KY 41056 +1 (606) 759 - 7514
Community Trust Bank 1056 KY-610, Virgie, KY 41572 +1 (606) 639 - 4451
Dan's Discount Jewelry & Pawn 623 E Main St, Frankfort, KY 40601 +1 (502) 875 - 2899
Franklin Bank & Trust Co 317 N Main St, Franklin, KY 42134 +1 (270) 586 - 7121
Heights Finance Corporation 876 KY-1958, Winchester, KY 40391 +1 (859) 744 - 4505
Speedy Cash 1181 US-119, Whitesburg, KY 41858 +1 (606) 633 - 0986
Merchant Cash Advance Kentucky - Small Business Loans Owensboro KY - Commercial Loans, Unsecured Loans, Construction Financing, & Invoice Factoring Jewell Rd, Owensboro, KY 42301 +1 (270) 767 - 6339
First Financial Credit 401 Knox St, Barbourville, KY 40906 +1 (606) 277 - 0188
Limestone Bank 113 E Main Cross St, Brownsville, KY 42210 +1 (270) 597 - 2138
Eagle Finance 246 Russell Rd, Ashland, KY 41101 +1 (606) 644 - 0100

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Bonnyman, KY, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Florence, KY, Payday Loans in Georgetown, KY, Payday Loans in Hopkinsville, KY, Payday Loans in Louisville, KY, Payday Loans in Owensboro, KY and Short-term Loans 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 Bonnyman, KY.

Beautiful sights of Bonnyman, KY

Are Payday Loans Legal In Bonnyman, 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

Bonnyman, KY payday loan calculator

The Payday Loan Landscape in Bonnyman, Kentucky

If you’re looking for quick cash, a payday loan might be an option for you. In Bonnyman, Kentucky, payday loans are legal (applies to check cashers only) – but it’s important to understand the implications of taking out a payday loan before you sign on the dotted line.

What is a payday loan?

A payday loan is a type of short-term loan that is typically due on the borrower’s next payday. Payday loans are often used to cover unexpected expenses, such as car repairs or medical bills. They are not intended to be a long-term financial solution, and in fact, taking out multiple payday loans can lead to a cycle of debt.

How do payday loans work in Bonnyman, Kentucky?

As mentioned earlier, payday loans are legal (applies to check cashers only) in Bonnyman, Kentucky. There are a few key regulations that lenders must follow:

  • Lenders can charge up to $15 per $100 borrowed in fees
  • Loan terms cannot exceed 14-30 days
  • Borrowers cannot take out more than two loans at a time

It’s important to note that while payday loans are legal in Bonnyman, they are not without risks. The high interest rates and short repayment terms can make it difficult for borrowers to repay the loan on time, which can lead to additional fees and a cycle of debt.

Alternatives to payday loans

If you’re considering taking out a payday loan, it’s worth exploring other options first. Here are a few alternatives to consider:

  • Credit counseling: A credit counselor can work with you to create a budget and develop a plan to pay off debt.
  • Personal loans: A personal loan from a bank or credit union may have lower interest rates and longer repayment terms than a payday loan.
  • Credit cards: If you have a credit card, you may be able to use it to cover unexpected expenses. Just be sure to pay off the balance as soon as possible to avoid accruing interest.

Interesting facts and statistics about payday loans in Bonnyman, Kentucky

  • In 2020, there were 1,436 payday loan storefronts in Kentucky.
  • The average payday loan amount in Kentucky is $340.
  • According to a 2019 report by the Kentucky Coalition for Responsible Lending, the average APR for a payday loan in Kentucky is 391%.
  • 57% of payday loan borrowers in Kentucky are female.

Apply Now

If you have explored your options and decide that a payday loan is the best choice for you, TheGuaranteedLoans can help. We are a connector service that can connect you with potential lenders. Fill out our online application to get started. Just remember, payday loans are not a long-term financial solution, so be sure to repay the loan as soon as possible to avoid additional fees and interest.

F.A.Q.

Can I apply for a payday loan if I am on active military duty in Bonnyman, Kentucky?

Yes, individuals on active military duty are eligible to apply for payday loans in Bonnyman, Kentucky. However, there are special protections in place for military members, so be sure to inform the lender if you are on active duty.

Are there any restrictions on the interest rate for payday loans in Bonnyman, Kentucky?

Yes, the maximum interest rate for payday loans in Bonnyman, Kentucky is 390% APR.