Payday Loans in Hima, Kentucky

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

Company nameAddressZip codePhone number
World Finance Corporation 162 Appalachian Plaza, South Williamson, KY 41503 +1 (606) 237 - 5115
Cash Express 101 N Cross St, Albany, KY 42602 +1 (606) 387 - 0531
Independence Bank 76 S Green St, Henderson, KY 42420 +1 (270) 830 - 1776
Paducah Bank 5542 Reidland Rd, Paducah, KY 42003 +1 (270) 575 - 5700
J & E Investments 624 N 3rd St 102, Bardstown, KY 40004 +1 (270) 300 - 8777
World Finance Corporation 511 Old Hwy 60 #3, Hardinsburg, KY 40143 +1 (270) 756 - 2824
Regions Bank 117 W Cedar St, Franklin, KY 42134 +1 (270) 253 - 1310
Heights Finance Corporation 1267 Paris Rd, Mayfield, KY 42066 +1 (270) 247 - 0691
First Kentucky Bank 223 S 6th St, Mayfield, KY 42066 +1 (270) 247 - 1403
Cash Express 101 North Cross Street, Albany, KY 42602 +1 (606) 387 - 0531

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Hima, KY, you can try to find different companies in big cities near by. Check out the following pages here: 24-Hour Loan in Florence, KY, Same Day Loans in Georgetown, KY, Payday Loan Without a Credit Check in Hopkinsville, KY, Bad Credit Loans in Louisville, KY, Bad Credit 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 Hima, KY.

Are Payday Loans Legal In Hima, 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

Hima, KY payday loan calculator

Payday Loans in Hima, Kentucky: All You Need to Know

A payday loan is a type of small, short-term loan that is usually repaid on the borrower’s next payday. Payday loans are typically used by people who need quick cash to cover unexpected expenses or emergencies. In Kentucky, payday loans are legal, but only check cashers are allowed to offer them. This article will provide an overview of payday loans in Hima, Kentucky, and what you need to know if you are considering taking out a payday loan in this state.

How Payday Loans Work in Hima, Kentucky

Payday loans in Hima, Kentucky, are subject to the same regulations as payday loans in the rest of the state. Under Kentucky law, a borrower can take out a payday loan of up to $500. The loan term must be between 14 and 60 days. Lenders are allowed to charge up to $15 for every $100 borrowed. This means that if you borrow $100, you will have to pay back $115 on your next payday.

When you apply for a payday loan in Hima, Kentucky, you will typically be required to provide some basic information, such as your name, address, and income. The lender will then review your application and determine whether you are eligible for a loan. If you are approved, the lender will give you the money you need and you will be required to repay it, along with any fees and interest, on your next payday.

The Pros and Cons of Payday Loans in Hima, Kentucky

Like any financial product, payday loans have their pros and cons. Here are some of the advantages and disadvantages of payday loans in Hima, Kentucky:

Pros:

  • Payday loans are easy to obtain, with minimal paperwork and no credit check required. This makes them a good option for people with poor credit or no credit history.
  • Payday loans can provide you with quick cash to cover unexpected expenses or emergencies.
  • Payday loans can be useful if you need to borrow a small amount of money and can repay it quickly.

Cons:

  • Payday loans can be expensive. The interest rates and fees can add up quickly, making it difficult to repay the loan on time.
  • Payday loans can lead to a cycle of debt. If you are unable to repay the loan on time, you may be required to roll it over, which will incur additional fees and interest.
  • Payday loans can be addictive. The ease of obtaining a payday loan can cause people to rely on them too heavily and use them as a long-term financial solution.

How to Apply for a Payday Loan in Hima, Kentucky

If you are considering taking out a payday loan in Hima, Kentucky, there are a few things you should keep in mind:

  • Only borrow what you need. Payday loans should be used as a last resort and only to cover unexpected expenses or emergencies.
  • Make sure you can repay the loan on time. If you are unable to repay the loan on the due date, you may be charged additional fees and interest.
  • Compare lenders. Shop around and compare rates and fees from multiple lenders before making a decision.
  • Read the fine print. Make sure you understand the terms and conditions of the loan before signing any paperwork.

Interesting Facts and Statistics about Payday Loans in Hima, Kentucky

  • According to the Kentucky Coalition for Responsible Lending, the average APR (annual percentage rate) for a payday loan in Kentucky is 459%. This is significantly higher than the national average of 391%.
  • In 2019, the Kentucky General Assembly passed a bill that would implement a statewide database to track payday loans. The database is intended to prevent borrowers from taking out multiple loans at the same time, which can lead to a cycle of debt.
  • In 2016, the average payday loan in Kentucky was $340. The average length of the loan was 15 days, and the average fee was $56.

Apply Now

If you are in need of a payday loan in Hima, Kentucky, TheGuaranteedLoans can help you connect with a lender who can meet your needs. Please note that we are a lender matching service, not a direct lender. Our service is always free, and you are under no obligation to accept any loan offer you receive. To get started, fill out our secure online application today.

F.A.Q.

Can I be denied a payday loan in Hima, Kentucky based on my credit score?

No, payday lenders in Hima, Kentucky are not allowed to deny a loan based on your credit score. However, a low credit score may affect the terms and conditions of the loan.

How do I know if a payday lender is licensed to operate in Hima, Kentucky?

To check if a payday lender is licensed to operate in Hima, Kentucky, you can visit the Kentucky Office of Financial Institutions website and search for their name or license number.