Payday Loans in Melvin, Kentucky

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

Company nameAddressZip codePhone number
Salyersville National Bank 342 Parkway Dr, Salyersville, KY 41465 +1 (606) 349 - 3131
Cash Express 1033 Paris Pike, Georgetown, KY 40324 +1 (502) 868 - 9191
Edmonton State Bank 2417 Summer Shade Rd, Summer Shade, KY 42166 +1 (270) 428 - 3301
Cashland 2 N Green St, Henderson, KY 42420 +1 (270) 827 - 9846
Central Kentucky Ag Credit 842 W Main St 1804, Lebanon, KY 40033 +1 (270) 692 - 4411
First Harrison Bank 1612 KY-44, Shepherdsville, KY 40165 +1 (502) 543 - 2226
WesBanco Bank 100 United Dr, Versailles, KY 40383 +1 (859) 873 - 3136
Fahe 319 Oak St, Berea, KY 40403 +1 (859) 986 - 2321
Cash Express 330 Main St, Cadiz, KY 42211 +1 (270) 522 - 4050
Advance America 620 Big Hill Ave #2, Richmond, KY 40475 +1 (859) 625 - 0555

Payday Loan Companies in Nearby Cities

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

Are Payday Loans Legal In Melvin, 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

Melvin, KY payday loan calculator

Payday Loans in Melvin, Kentucky: A Comprehensive Guide

Are you facing a financial emergency but don’t have the funds to cover it? If you live in Melvin, Kentucky, payday loans might be able to help. These short-term loans can give you access to quick cash, but before you apply, it’s important to understand the process and the risks involved. In this article, we’ll provide a comprehensive guide to payday loans in Melvin, Kentucky, so you can make an informed decision.

What are payday loans?

Payday loans are short-term loans designed to help you cover unexpected expenses until your next payday. In Melvin, Kentucky, payday loans are legal, but they can only be provided by check cashing services. To apply for a payday loan, you’ll typically need to provide proof of income, a valid ID, and a checking account. The amount you can borrow will depend on your income and other factors, and you’ll typically need to pay back the loan plus interest within a few weeks.

The pros and cons of payday loans

While payday loans can provide quick access to cash when you need it, they also come with risks and drawbacks. Here are some of the pros and cons to consider:

  • Pros: Payday loans are easy to apply for and can provide fast cash when you need it most. They can also be a helpful tool to cover unexpected expenses if you don’t have savings or access to other sources of credit.
  • Cons: Payday loans often come with high fees and interest rates, which can make it difficult to pay back the loan on time. If you’re unable to pay back the loan on time, you may be subject to additional fees and penalties, which can lead to a cycle of debt. It’s also important to be cautious of payday lenders that engage in predatory practices, such as charging excessive fees or requiring access to your bank account.

What to consider before applying for a payday loan

Before you apply for a payday loan in Melvin, Kentucky, it’s important to carefully consider your financial situation and whether a payday loan is the best option for you. Here are some factors to keep in mind:

  • Interest rates and fees: Payday loans often come with high interest rates and fees, which can make them a costly way to borrow money.
  • Your ability to repay: Consider whether you’ll be able to repay the loan in full by the due date. If you’re unable to repay on time, you may be subject to additional fees and penalties, which can make it even harder to pay back the loan.
  • Your other options: Consider whether you have other options for accessing funds, such as credit cards, personal loans, or borrowing from family or friends.

Interesting Facts and Statistics:

  • In Kentucky, the average payday loan amount is $354, and the average APR is 459%.
  • According to research, over 50% of payday loans are taken out for recurring expenses, such as rent or utilities.
  • Payday lenders in Kentucky are required to provide borrowers with a written agreement that outlines the terms and conditions of the loan.
  • Kentucky payday lenders are also restricted from charging more than $15 per $100 in loan fees.

Apply Now

At TheGuaranteedLoans, we understand that facing a financial emergency can be stressful. That’s why we offer a streamlined application process for payday loans in Melvin, Kentucky. We connect you with potential lenders who can provide the funds you need quickly and easily. To get started, simply fill out our online application form. It’s free to apply, and there’s no obligation to accept any loan offers you receive. Please note that TheGuaranteedLoans is not a direct lender. We are a connector service that facilitates connections between borrowers and potential lenders.

F.A.Q.

What are the requirements to be eligible for a payday loan in Melvin, Kentucky?

To be eligible for a payday loan in Melvin, Kentucky, you must be at least 18 years old and have a valid government-issued ID and proof of income.

How long do I have to repay a payday loan in Melvin, Kentucky?

Payday loans in Melvin, Kentucky must be repaid within 60 days.