Payday Loans in Cunningham, Kentucky

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

Company nameAddressZip codePhone number
BB&T 300 N Mayo Trl, Paintsville, KY 41240 +1 (606) 789 - 4045
Fast Payday Loans 10303 Dixie Hwy, Louisville, KY 40272 +1 (502) 933 - 4147
Cash Express 483 N Wallace Wilkinson Blvd, Liberty, KY 42539 +1 (606) 787 - 0818
Eagle Finance 1744 Hwy 192 West, London, KY 40741 +1 (606) 878 - 0003
Cash In Hand 180 Town Mountain Rd # 112, Pikeville, KY 41501 +1 (606) 437 - 4308
Cash Express 856 Paris Rd, Mayfield, KY 42066 +1 (270) 247 - 2012
U.S. Bank ATM - Southside 27989 US-119, South Williamson, KY 41503 +1 (606) 237 - 8406
Heights Finance Corporation 1267 Paris Rd, Mayfield, KY 42066 +1 (270) 247 - 0691
General Electric Credit Union Florence 8659 U.S. Hwy 42, Florence, KY 41042 +1 (513) 243 - 4328
First Financial Credit 404 S Mayo Trail # 5, Pikeville, KY 41501 +1 (606) 437 - 0412

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Cunningham, KY, 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 Florence, KY, Payday Loans in Georgetown, KY, Payday Loans in Hopkinsville, KY, Bad Credit Loans in Louisville, KY, Payday Loans in Owensboro, KY and 24-Hour Loan 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 Cunningham, KY.

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

42035

Are Payday Loans Legal In Cunningham, 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

Cunningham, KY payday loan calculator

The Ins and Outs of Payday Loans in Cunningham, Kentucky

Payday loans are a popular form of short-term lending that can provide quick and easy access to cash for those who need it. Despite the convenience of payday loans, borrowers should be mindful of the potential pitfalls and work to avoid the expensive fees and high interest rates that can come with these loans.

Understanding the Basics

Payday loans are small-dollar loans that typically come due on the borrower’s next payday. In Cunningham, Kentucky, payday loans are legal but only apply to check cashers. These lenders must be licensed by the state and comply with certain regulations to ensure fair and honest lending practices.

To obtain a payday loan, borrowers typically must provide proof of income and a valid checking account. The lender will typically ask the borrower to post-date a check for the loan amount plus fees and interest, with the understanding that the check will be cashed on the borrower’s next payday.

Payday loans in Cunningham, Kentucky are subject to certain restrictions, including:

  • Maximum loan amount: $500
  • Maximum loan term: 14 days
  • Maximum finance charge: $15 per $100 borrowed

Despite these restrictions, payday loans can still be expensive and can trap borrowers in a cycle of debt if not used responsibly. It’s crucial for borrowers to understand the fees and interest rates associated with these loans and to only borrow what they can afford to repay.

The Pros and Cons of Payday Loans

Like any financial product, payday loans have their advantages and disadvantages. Some potential benefits of payday loans include:

  • Quick and easy access to cash
  • No credit check required
  • Can be obtained without collateral

However, there are also significant drawbacks to payday loans, such as:

  • High fees and interest rates
  • Short repayment terms
  • Potential for borrower to become trapped in a cycle of debt

It’s crucial for borrowers to weigh the pros and cons of payday loans carefully before deciding whether to take out this type of loan.

Interesting Facts and Statistics on Payday Loans in Cunningham, Kentucky

  • In 2019, Kentucky payday lenders issued more than $315 million in loans with an average APR of 391%.
  • Between 2013 and 2017, more than 82,000 Kentuckians filed for bankruptcy, with more than 8,000 citing payday loans as a contributing factor.
  • In Cunningham, Kentucky, there are several licensed check cashers that offer payday loans, including Cash Express, Advance America, and Check Into Cash.

Apply Now

If you’re considering a payday loan in Cunningham, Kentucky, it’s important to work with a reputable lender and to only borrow what you can afford to repay. TheGuaranteedLoans is a loan connection service that can help you connect with potential lenders and find a loan that meets your needs. Click below to learn more and fill out an application today.

Please note: TheGuaranteedLoans is not a direct lender and does not make credit decisions. We are a loan connection service that works with a network of reputable lenders to help you find the right loan for your needs.

Remember, payday loans can be an expensive form of financing and should only be used in emergency situations. If you are struggling with debt or need long-term financial help, consider speaking with a financial advisor or credit counselor.

F.A.Q.

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

Yes, individuals on active military duty are eligible to apply for payday loans in Cunningham, 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 Cunningham, Kentucky?

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