Payday Loans in Fords Branch, Kentucky

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

Company nameAddressZip codePhone number
World Finance 219 Letton Dr, Paris, KY 40361 +1 (859) 987 - 9970
Peoples Cash Advance 801 Campbell Ln Ste C, Bowling Green, KY 42104 +1 (270) 842 - 7005
Fast Payday Loans 553 U.S. 31 W Bypass, Bowling Green, KY 42101 +1 (270) 796 - 8510
World Finance Corporation 217 Letton Dr, Paris, KY 40361 +1 (859) 987 - 9970
Heights Finance Corporation 2410 Ring Rd, Elizabethtown, KY 42701 +1 (270) 360 - 0084
Traditional Bank 7880 Main St, Jeffersonville, KY 40337 +1 (859) 498 - 3074
Cash Express 4337 KY-2565, Louisa, KY 41230 +1 (606) 638 - 3113
World Finance Corporation 1326 Nashville Rd e, Franklin, KY 42134 +1 (270) 586 - 2090
Central Financial Services of Ky, Inc. Shopping Center, 195 Cumberland Crossing, Monticello, KY 42633 +1 (606) 348 - 3348
United Citizens Bank & Trust 8198 Main St, Campbellsburg, KY 40011 +1 (502) 532 - 7392

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Fords Branch, 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 Loan for Georgetown, KY, Payday Loan Companies in Hopkinsville, KY, Payday Loans in Louisville, KY, Payday Loans in Owensboro, KY and Bad Credit 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 Fords Branch, KY.

Are Payday Loans Legal In Fords Branch, 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

Fords Branch, KY payday loan calculator

Payday Loans in Fords Branch, Kentucky: Everything You Need to Know

Life can be unpredictable, and financial emergencies often occur when we least expect them. When the unexpected happens, it is often necessary to seek financial help from lenders or financial institutions. Payday loans are one option available to those who require quick access to cash for an emergency expense.

Payday loans are legal in Kentucky and are available to residents who are in need of short-term financial assistance. In Fords Branch, Kentucky, payday loans are readily available to those who qualify, and this article will explain everything you need to know about this type of lending in this area.

What are Payday Loans?

A payday loan is a short-term loan designed to help individuals cover their expenses until their next paycheck. This type of lending is usually for a small amount of money and is meant to be repaid in full when the borrower receives their next paycheck.

In Fords Branch, Kentucky, payday loans are legal, and they are often provided by check cashers. Borrowers typically write a postdated check or provide their bank account details to the lender, who will then deposit the loan funds directly into the borrower’s account. The lender will then cash the check or withdraw the money from the borrower’s account, including any interest and fees, on the due date.

How do Payday Loans Work?

In Fords Branch, Kentucky, payday loans typically offer a maximum loan amount of $500, and the loan term is usually 14 to 60 days. Borrowers must provide proof of income, such as a pay stub, and an active checking account to qualify for a payday loan.

Upon approval, the borrower receives the loan amount in cash, a check, or direct deposit, and the lender will charge the borrower a fee, usually around $15 per $100 borrowed. This fee is in addition to the loan amount and must be repaid along with the original loan amount.

If the borrower is unable to repay the loan on the due date, they can apply for an extension or a repayment plan. However, additional fees and interest charges will apply. Failure to repay the loan may result in the lender filing a lawsuit or sending the borrower’s account to a collection agency.

Benefits of Payday Loans in Fords Branch, Kentucky

  • Quick access to cash in an emergency
  • No credit check required
  • Simple application process
  • Loan approval is usually fast

Drawbacks of Payday Loans in Fords Branch, Kentucky

  • High-interest rates and fees
  • Short repayment period, which may be difficult for some borrowers
  • Lenders may charge late fees or additional fees if the loan is not repaid on time
  • May lead to a cycle of debt if the borrower is not able to repay the loan on time

Facts and Statistics About Payday Loans in Fords Branch, Kentucky

According to the Kentucky Center for Economic Policy, the average payday loan borrower in Kentucky takes out 10 loans per year and spends an average of 200 days in debt. Additionally, around 83% of payday loans are issued to borrowers who have already taken out a payday loan in the past year.

The Kentucky Department of Financial Institutions reported that in 2020, there were 605,089 deferred deposit transactions, which include payday loans, made in Kentucky, with a total loan amount of over $218 million. The average loan amount was around $361, and the average annual interest rate was around 460%.

Apply Now for a Payday Loan in Fords Branch, Kentucky

If you are in need of a payday loan in Fords Branch, Kentucky, TheGuaranteedLoans can help connect you with potential lenders. Simply fill out our online application form, and we will connect you with lenders who offer payday loans in your area. Please note that we are a connector service, not a direct lender, and we do not make loan decisions or credit checks. However, we are committed to providing customers with a fast, easy, and secure way to apply for a payday loan.

Conclusion

Payday loans can be a quick solution for short-term financial emergencies. However, borrowers must be aware of the high-interest rates and fees associated with this type of lending. If you are considering a payday loan in Fords Branch, Kentucky, it is important to carefully review your options and ensure you can repay the loan on time. Contact TheGuaranteedLoans today to see if you qualify for a payday loan.

F.A.Q.

Are there any restrictions on the number of payday loans I can take out in Fords Branch, Kentucky?

Yes, you are only allowed to take out one payday loan at a time in Fords Branch, Kentucky.

Can I take out a payday loan if I have bad credit?

Yes, you can still take out a payday loan in Fords Branch, Kentucky even if you have bad credit.