Payday Loans in Martha, Kentucky

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

Company nameAddressZip codePhone number
General Electric Credit Union Madisonville Plant - Restricted Access 3016 Nebo Rd, Madisonville, KY 42431 +1 (270) 821 - 6558
ABC Finance Co., Inc. 1550 Lowes Dr D, Murray, KY 42071 +1 (270) 759 - 9588
World Finance Corporation 1380 Flemingsburg Rd, Morehead, KY 40351 +1 (606) 780 - 0384
Advance America 7108 Turfway Rd, Florence, KY 41042 +1 (859) 746 - 0049
German American Bank 656 Main St, Munfordville, KY 42765 +1 (270) 524 - 2131
World Finance Corporation 3570 South Highway 27, Suite 2, Somerset, KY 42501 +1 (606) 676 - 8999
WAHU LLC South Shore, KY 41175 +1 (606) 932 - 2009
United Citizens Bank 2261 US-127, Russell Springs, KY 42642 +1 (270) 858 - 2265
Cashland 312 1st St, Henderson, KY 42420 +1 (270) 827 - 9846
World Finance 1100 Old US Highway 127 Road, Frankfort, KY 40601 +1 (502) 227 - 9227

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Martha, 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 Loans in Georgetown, KY, 24-Hour Loan in Hopkinsville, KY, Payday Loans 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 Martha, KY.

Are Payday Loans Legal In Martha, 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

Martha, KY payday loan calculator

Everything You Need to Know About Payday Loans in Martha, Kentucky

Payday loans are a popular financial option for individuals who need quick cash. Martha, Kentucky allows check cashers to offer payday loans to residents, making it a common destination for those in need of urgent funding. In this article, we’ll cover everything you need to know about payday loans in Martha, Kentucky.

What is a Payday Loan?

A payday loan is a short-term loan that is typically for small amounts of cash, usually between $100 and $1,000. The loan is repaid with your next paycheck. Payday loans are designed to provide individuals with immediate access to cash when they need it the most.

Payday loans are known for their accessibility and the ease of application. Unlike traditional loans, payday loans are often approved quickly. In many cases, the funds are deposited directly into the borrower’s bank account within the same business day.

Legal Status of Payday Loans in Martha, Kentucky

Payday loans are legal in Martha, Kentucky. However, it’s essential to note that these types of loans are only legal when offered by check cashers. Other lenders, including banks and credit unions, cannot provide payday loans in Kentucky.

Check cashers who offer payday loans in Martha, Kentucky must be licensed by the state. These lenders must comply with regulations that are designed to protect consumers and ensure that loans are offered fairly and responsibly.

Interest Rates and Fees

Payday loans in Martha, Kentucky are subject to strict regulations regarding interest rates and fees. The maximum amount of money that can be borrowed is $500, and repayment terms cannot exceed 60 days. The interest rates for payday loans in Kentucky are 15% for each $100 borrowed. For example, if you borrow $100, you will be required to pay $115 in total.

It’s important to note the APR for payday loans in Kentucky is among the highest in the country. This means that borrowers will pay a significant amount of interest on top of the principal amount borrowed. To avoid paying excessive fees, it’s essential to read the loan agreement carefully and ensure you understand the repayment terms.

Benefits of Payday Loans

Despite the high interest rates and fees, payday loans offer several benefits that make them a popular choice in Martha, Kentucky. These benefits include:

  • Fast Approval: Payday loans in Martha, Kentucky are processed quickly, with some lenders providing same-day approval.
  • Bad Credit is Accepted: Unlike traditional loans, payday lenders do not require a good credit score.
  • Funds are Available Quickly: Once approved, the funds are deposited directly into the borrower’s bank account, meaning no waiting for a check to clear.
  • Accessible: Payday loans are readily available to anyone who meets the minimal requirements set by the lender.

Apply Now to Get the Funding You Need

If you’re in need of immediate cash, TheGuaranteedLoans can help. We are a connector service that partners with trusted lenders across the country, giving you access to multiple options for funding. By filling out our quick online application, we’ll match you with lenders who are willing to work with you and provide you with the cash you need.

It’s important to note that TheGuaranteedLoans is not a lender. Instead, we facilitate connections between borrowers and lenders, making it easier for you to get the funding you need.

Interesting Facts About Payday Loans in Kentucky

  • According to a survey conducted by the Kentucky Department of Financial Institutions, the majority of payday borrowers are people between the ages of 25 and 44, with an average income of $25,000 per year.
  • In Kentucky, payday lenders cannot roll over, renew, or consolidate a loan. This is done to protect consumers from accumulating too much debt.
  • In 2019, payday lenders in Kentucky issued almost 500,000 loans, totaling over $133 million dollars.

Payday loans in Martha, Kentucky can be a lifesaver for those who need cash quickly. However, it’s essential to ensure that you are informed of all the terms and conditions of the loan before accepting any funds. Apply now to get started and get connected with our network of lenders.

F.A.Q.

Can I cancel or void my payday loan in Martha, Kentucky?

Yes, you have the right to cancel or void your payday loan within 14 days of signing the loan agreement in Martha, Kentucky.

Can I be charged a penalty for prepaying my payday loan in Martha, Kentucky?

No, you cannot be charged a penalty for prepaying your payday loan in Martha, Kentucky.