Payday Loans in Island City, Kentucky

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

Company nameAddressZip codePhone number
Eagle Finance 650 N Main St Suite 216, Somerset, KY 42502 +1 (606) 676 - 0899
Mariner Finance 300 Mill St Suite 100, Leitchfield, KY 42754 +1 (270) 287 - 9021
Abound Credit Union 1453 Elizabethtown Rd, Leitchfield, KY 42754 +1 (800) 285 - 5669
Fort Knox DFMWR Building 4248 Bullion Blvd, Fort Knox, KY 40121 +1 (502) 624 - 2628
A+ Loans LLC 1805 S Main St 1, Corbin, KY 40701 +1 (606) 215 - 3486
Cash Express 1835 N Hwy 27, Whitley City, KY 42653 +1 (606) 376 - 5959
Hart County Payday loan Company 100 S Dixie St, Horse Cave, KY 42749 +1 (270) 786 - 4935
Advance America 1531 Paris Pike, Georgetown, KY 40324 +1 (502) 867 - 0380
Cash Express 420 Eastern Bypass, Richmond, KY 40475 +1 (859) 624 - 1768
River Valley AgCredit 1401 N 12th St, Murray, KY 42071 +1 (270) 753 - 5602

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Island City, KY, you can try to find different companies in big cities near by. Check out the following pages here: Online Loans in Florence, KY, Payday Loans in Georgetown, KY, Quick Loan in Hopkinsville, KY, 24-Hour Loan in Louisville, KY, Payday 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 Island City, KY.

Are Payday Loans Legal In Island City, 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

Island City, KY payday loan calculator

What are Payday Loans in Island City, Kentucky?

Payday loans are a type of short-term loan that enables borrowers to access a small sum of money quickly. These loans are usually due on the borrower’s next payday and come with high interest rates and fees.

How do Payday Loans Work in Island City, Kentucky?

In Kentucky, payday loans can only be offered by check cashers. To apply for a payday loan, the borrower must visit a check cashing store with their ID, proof of income, and checking account information. The lender will then write a check to the borrower for the loan amount, plus fees and interest.

The borrower must then sign an agreement to repay the loan on their next payday, which is usually within 14 days. If the borrower cannot repay the loan on time, the lender may offer a rollover or extension, which adds additional fees and interest to the loan balance.

Are Payday Loans Legal in Island City, Kentucky?

Yes, payday loans are legal in Kentucky, but only check cashers are permitted to offer them. The state sets a maximum loan amount of $500 and loans must be repaid within 14 to 60 days. Lenders may charge up to $15 per $100 borrowed in fees, which equates to an APR of 459%. The state does not have a database to track payday loans, which can make it difficult for borrowers to avoid taking out multiple loans or rolling over loans.

The Pros and Cons of Payday Loans in Island City, Kentucky

The Pros:

  • Quick access to cash when needed
  • No credit check required
  • Can be helpful for emergencies

The Cons:

  • High interest rates and fees
  • Can lead to a cycle of debt
  • No protection from predatory lending practices

Apply Now

Looking for a payday loan in Island City, Kentucky? Visit TheGuaranteedLoans and fill out an online application! Please note that TheGuaranteedLoans is a connector service, not a direct lender. We will facilitate your connection with potential lenders who can offer you the loan you need.

Interesting Facts about Payday Loans in Island City, Kentucky

  • Kentucky is one of 32 states that allows payday lending, but only through check cashers
  • In 2019, Kentucky payday lenders made more than 200,000 loans, totaling over $82 million in loans
  • The average APR for payday loans in Kentucky is 460%, one of the highest rates in the country

The Bottom Line

When considering a payday loan in Island City, Kentucky, it’s important to carefully review the terms and conditions of the loan and ensure that you can repay the loan on time. The high interest rates and fees associated with payday loans can make it easy to fall into a cycle of debt. However, in emergencies, payday loans can be a helpful option to access cash quickly.

F.A.Q.

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

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

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

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