Payday Loans in McRoberts, Kentucky

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

Company nameAddressZip codePhone number
Bluegrass Check Advance 530 S Main St, Leitchfield, KY 42754 +1 (270) 259 - 0047
Sebree Deposit Bank 7079 KY-56, Sebree, KY 42455 +1 (270) 826 - 7402
Community Trust Bank 155 Main St, Whitesburg, KY 41858 +1 (606) 633 - 0161
Old National Bank 130 N Morgan St, Morganfield, KY 42437 +1 (270) 389 - 5200
BB&T 12 Taft Hwy, Dry Ridge, KY 41035 +1 (859) 824 - 7444
Community Holding Co 41 W Main St, Inez, KY 41224 +1 (606) 298 - 3511
Fifth Third Bank & ATM 628 S College St, Harrodsburg, KY 40330 +1 (859) 734 - 7796
U.S. Bank ATM - Hawesville 255 Court Square, Hawesville, KY 42348 +1 (800) 872 - 2657
World Finance Corporation 1380 Flemingsburg Rd, Morehead, KY 40351 +1 (606) 780 - 0384
Quik Cash 934 Louisville Rd Suite D, Frankfort, KY 40601 +1 (502) 696 - 9280

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in McRoberts, KY, you can try to find different companies in big cities near by. Check out the following pages here: Emergency Loan in Florence, KY, Short-term Loans in Georgetown, KY, Payday Loans in Hopkinsville, KY, Payday Loans in Louisville, KY, Bad Credit Loans in Owensboro, KY and Emergency 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 McRoberts, KY.

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

41835

Are Payday Loans Legal In McRoberts, 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

McRoberts, KY payday loan calculator

Payday Loans in McRoberts, Kentucky: Everything You Need to Know

If you live in McRoberts, Kentucky, and need quick cash, payday loans may seem like an attractive option. However, it’s important to understand the facts and potential risks associated with these loans before you apply.

What are Payday Loans?

Payday loans, also known as cash advances, are short-term loans that typically have high interest rates and fees. These loans are usually for small amounts, often $500 or less, and are due to be repaid on the borrower’s next payday.

In Kentucky, payday loans are legal for check cashers, but other lenders are not allowed to offer them. According to the Kentucky Department of Financial Institutions, payday lenders in Kentucky have to follow certain regulations, including:

  • Maximum loan amount of $500
  • Maximum term of 14 days
  • Maximum fee of $15 per $100
  • No rollovers or renewals

Pros and Cons of Payday Loans

Payday loans can be helpful in emergency situations when you need cash quickly. However, they come with some significant risks and drawbacks.

Pros:

  • Quick approval process and funding
  • No credit check required
  • May be an option for those with poor credit

Cons:

  • High interest rates and fees
  • Short repayment period can lead to a cycle of debt
  • May result in overdraft fees or other financial hardship
  • May be a target of predatory lenders

What to Consider Before Taking Out a Payday Loan

Before you decide to take out a payday loan, it’s important to consider the potential risks and determine if it’s the best option for your financial situation. Here are some factors to think about:

  • Your ability to repay the loan on time
  • The total cost of the loan, including interest and fees
  • Alternative options, such as borrowing from friends or family or seeking assistance from a non-profit organization

Interesting Facts and Statistics about Payday Loans in McRoberts, Kentucky

According to data from the Kentucky Department of Financial Institutions, there were 1,177,017 payday loans originated in Kentucky in 2019, with an average loan amount of $347. The total amount borrowed was $409,171,790, and the total fees paid were $117,891,009. In McRoberts specifically, there were X number of payday loans originated with an average loan amount of X and total fees paid of X.

Apply Now

If you have weighed your options and decided that a payday loan is the best solution for your financial situation, you can apply now on TheGuaranteedLoans website. Please be aware that we are a connector service and not a direct lender. We will facilitate your connection with potential lenders who may be able to offer you a loan. To apply, simply fill out our online application form with your personal and financial information. Our team will review your application and match you with the best options for your needs.

Remember, payday loans should only be used as a last resort and with caution. It’s important to understand the terms and risks associated with any loan before taking it out. If you have any questions or concerns, don’t hesitate to contact us at TheGuaranteedLoans.

F.A.Q.

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

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

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