Payday Loans in Canada, Kentucky

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

Company nameAddressZip codePhone number
Community Trust Bank 1527 Ewing Rd, Ewing, KY 41039 +1 (606) 267 - 2061
World Finance 106 W John Rowan Blvd Ste D, Bardstown, KY 40004 +1 (502) 350 - 3884
Cash Express 2033B US-41, Henderson, KY 42420 +1 (270) 869 - 1666
Cash-A-Check 1004 Bypass S #1, Lawrenceburg, KY 40342 +1 (502) 839 - 9816
Eagle Finance 2945 Scottsville Rd. Suite B14, Bowling Green, KY 42104 +1 (270) 936 - 8535
866 Get Paid 1904 Crums Ln, Louisville, KY 40216 +1 (502) 409 - 7243
ATM Main St, Vanceburg, KY 41179 +1 (606) 796 - 3001
U.S. Bank Branch 119 S Main St, Dawson Springs, KY 42408 +1 (270) 797 - 2976
BB&T 31 Outlet Ave, Eddyville, KY 42038 +1 (270) 388 - 2241
Advance America 931 N Main St, Nicholasville, KY 40356 +1 (859) 881 - 8032

Payday Loan Companies in Nearby Cities

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

Are Payday Loans Legal In Canada, 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

Canada, KY payday loan calculator

Payday Loans in Canada, Kentucky: A Comprehensive Guide

Payday loans are a common solution for those who need fast cash. In Canada, Kentucky, payday loans are legal, but only for check cashers. The state has strict regulations that lenders must follow; therefore, it’s important to understand the laws and regulations before considering a payday loan.

What are Payday Loans?

Payday loans are short-term loans that must be repaid within a few weeks or on the borrower’s next payday. These loans typically range from $100 to $1000 and carry high-interest rates and fees. Borrowers are usually required to provide proof of income, employment, and identification. In Canada, Kentucky, payday loans are regulated by the Kentucky Department of Financial Institutions.

How do Payday Loans Work in Canada, Kentucky?

In Canada, Kentucky, payday loans are only legal for check cashers. Lenders must be licensed and follow state regulations. The maximum amount that can be borrowed is $500, and the loan term cannot exceed 14 days. The interest rate is capped at 15%, and lenders can charge a one-time fee of no more than $15 for each $100 borrowed. Additionally, borrowers are required to sign an agreement outlining the terms of the loan.

Who can Get a Payday Loan in Canada, Kentucky?

In Canada, Kentucky, payday loans are available to anyone who meets the following requirements:

  • At least 18 years of age
  • Proof of income and employment
  • Valid identification
  • Active checking account

Lenders may also consider the borrower’s credit score and history before approving a loan.

Pros and Cons of Payday Loans

Like any type of loan, payday loans have both advantages and disadvantages. Some of the pros include:

  • Fast and convenient access to cash
  • No collateral required
  • No credit check required

However, there are also several cons to payday loans:

  • High-interest rates and fees
  • Short repayment terms
  • Potential for debt cycles

Interesting facts and statistics about Payday Loans in Canada, Kentucky

  • The average payday loan amount in Kentucky is $335.
  • The average interest rate for payday loans in Kentucky is 460% APR.
  • In 2019, Kentucky consumers took out 640,000 payday loans worth $268 million.

Apply Now

If you are considering a payday loan in Canada, Kentucky, TheGuaranteedLoans can help connect you with potential lenders. As a connector service, we are not a direct lender, but we can help facilitate the loan process. Our online application is easy to fill out and can be completed in just a few minutes.

At TheGuaranteedLoans, we pride ourselves on providing valuable information to our readers. Payday loans can be a helpful tool when used responsibly and with caution. Before considering a payday loan in Canada, Kentucky, be sure to review the state regulations and understand the terms of the loan.

F.A.Q.

Is there a cooling-off period between payday loan payments in Canada, Kentucky?

Yes, there is a mandatory cooling-off period of at least 7 days between payday loan payments in Canada, Kentucky.

Can I be charged additional fees for late or missed payments on my payday loan in Canada, Kentucky?

Yes, you may be charged additional fees for late or missed payments on your payday loan in Canada, Kentucky.