Payday Loans in Crab Orchard, Kentucky

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

Company nameAddressZip codePhone number
Check Into Cash 222 S L Rogers Wells Blvd, Glasgow, KY 42141 +1 (270) 659 - 0615
Henderson Finance 2480 US-41 Suite F, Henderson, KY 42420 +1 (270) 212 - 1290
Cash Express 504 S Main St, Leitchfield, KY 42754 +1 (270) 230 - 0721
Morehead Community Federal Credit Union 503 W Main St, Morehead, KY 40351 +1 (606) 784 - 2201
Commercial Bank of Grayson 208 E Main St, Grayson, KY 41143 +1 (606) 474 - 7811
The Cecilian Bank 11 E Hiseville Main St, Hiseville, KY 42152 +1 (270) 453 - 3700
BB&T 107 Yocum St, Evarts, KY 40828 +1 (606) 837 - 3200
Cash Advance Centers of KY 103 W Madison St, Louisa, KY 41230 +1 (606) 638 - 4001
U.S. Bank Branch 33 Windsor Rd, Flemingsburg, KY 41041 +1 (606) 845 - 5300
Forcht Bank 203 S Main St, Williamstown, KY 41097 +1 (859) 824 - 4436

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Crab Orchard, KY, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Florence, KY, No Credit Check Loans in Georgetown, KY, Same Day Loans in Hopkinsville, KY, 24-Hour Loan in Louisville, KY, Payday Loans in Owensboro, KY and Guaranteed 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 Crab Orchard, KY.

Beautiful sights of Crab Orchard, KY

Payday Loans Available in Crab Orchard, KY By The Following ZIP Codes:

40419

Are Payday Loans Legal In Crab Orchard, 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

Crab Orchard, KY payday loan calculator

Understanding Payday Loans in Crab Orchard, Kentucky

Payday loans are a popular short-term financial solution for individuals who need quick cash before their next paycheck. Although payday loans come with a high-interest rate, they remain a viable option for some people.

If you live in Crab Orchard, Kentucky, and are considering a payday loan, it’s important to understand the local laws, the application process, and the pros and cons of taking out a payday loan.

Payday Loans in Crab Orchard, Kentucky: What You Need to Know

First things first, it’s crucial to understand the local laws of payday lending in Crab Orchard, Kentucky. Payday loans are legal in Kentucky (applies to check cashers only), and the maximum amount that you can borrow through a payday loan is $500.

However, the maximum number of outstanding loans that a person can have at any given time is two, and the loan terms should not exceed 60 days.

Furthermore, the maximum finance rate and fees cannot exceed a 15% cash advance fee, plus $1 for verification fee added to the first $100 and an additional $0.50 for every $10 borrowed up to $500. Meaning that if you borrow $100, you can be charged $15 as a finance charge.

The Application Process for Payday Loans

If you decide to apply for a payday loan in Crab Orchard, Kentucky, you’ll need to meet the minimum requirements set by the lender. It’s crucial to note that each lender has unique requirements, so be sure to read the lender’s terms and conditions before applying.

Here are the general requirements that most payday lenders in Kentucky ask for:

  • Must be at least 18 years old
  • Must be a U.S. citizen or have legal residency
  • Must have a valid ID
  • Must have a checking account
  • Proof of income, such as a pay stub or bank statement

Once you have these requirements, you can apply for a payday loan, either online or in-person if there are local lenders in Crab Orchard. The application process is fast, and you can receive the money within hours or on the same day if approved.

The Pros and Cons of Taking Out a Payday Loan

Payday loans come with advantages and disadvantages, and it’s essential to weigh the pros and cons before applying for one.

Pros:

  • Quick and easy application process
  • The lender does not require good credit
  • You can use the money for any purpose

Cons:

  • High-interest rates with additional fees
  • Short repayment terms
  • Can lead to a cycle of debt if not managed properly

Interesting Facts and Statistics About Payday Loans in Crab Orchard, Kentucky

  • There are 16 payday loan storefronts in Kentucky.
  • As of 2019, there were 89 payday lending locations in the state.
  • In 2019, the average Kentucky borrower took out nine payday loans with an average loan amount of $340.
  • In Crab Orchard, Kentucky, the median household income is $36,364, and the poverty rate is 23.7%, which could lead to a higher usage of payday loans.

Apply Now and Connect with Potential Lenders

If you need quick cash before your next paycheck, TheGuaranteedLoans can help you find potential lenders for a payday loan. Our service is straightforward to use, and we connect borrowers with reliable lenders, saving you time and the hassle of having to scour the internet for lenders.

Please note that TheGuaranteedLoans is not a direct lender, and we merely connect borrowers with potential lenders for payday loans in Crab Orchard, Kentucky.

Apply for a payday loan today by filling out our online application form and connect with potential lenders quickly and conveniently.

In Conclusion

Payday loans are a short-term solution for individuals who need quick cash before their next paycheck. However, they come with a high-interest rate and must be managed carefully to avoid a cycle of debt.

If you’re considering a payday loan in Crab Orchard, Kentucky, ensure that you understand all the local laws and weigh the pros and cons before applying. And remember to use TheGuaranteedLoans to connect with potential lenders and save time in finding a reliable payday loan.

F.A.Q.

What are the requirements to be eligible for a payday loan in Crab Orchard, Kentucky?

To be eligible for a payday loan in Crab Orchard, Kentucky, you must be at least 18 years old and have a valid government-issued ID and proof of income.

How long do I have to repay a payday loan in Crab Orchard, Kentucky?

Payday loans in Crab Orchard, Kentucky must be repaid within 60 days.