Payday Loans in Mistletoe, Kentucky

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

Company nameAddressZip codePhone number
Kentucky Pawn Depot LLC. 910 N Dixie Hwy 102, Elizabethtown, KY 42701 +1 (270) 982 - 7296
Advance America 3333 Frederica St #3, Owensboro, KY 42301 +1 (270) 684 - 6408
Cash Express Shopping Center, 106 Clay Co, Manchester, KY 40962 +1 (606) 596 - 0301
Advanced Cash America 217 E Broadway St, Campbellsville, KY 42718 +1 (270) 465 - 0798
K Y Cash Advance 620 Eastern Bypass # E, Richmond, KY 40475 +1 (859) 625 - 1111
Eagle Finance 246 Russell Rd, Ashland, KY 41101 +1 (606) 644 - 0100
Heights Finance Corporation 405 Richmond Rd N, Berea, KY 40403 +1 (859) 986 - 6000
Mortgage Suppliers 8771 Rockwell Rd, Winchester, KY 40391 +1 (859) 737 - 1902
U.S. Bank ATM - Morehead State University 150 University Blvd, Morehead, KY 40351 +1 (800) 872 - 2657
World Finance Corporation 360 Manchester Square Shopping Center, Manchester, KY 40962 +1 (606) 598 - 6141

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Mistletoe, 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, Guaranteed Loans in Georgetown, KY, Same Day Loans in Hopkinsville, KY, Payday Loan Companies in Louisville, KY, Payday Loan Companies 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 Mistletoe, KY.

Are Payday Loans Legal In Mistletoe, 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

Mistletoe, KY payday loan calculator

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

Payday loans can be an essential lifeline for those facing unexpected expenses or an unforeseen financial shortfall. Although they are a useful tool inclusions budget, payday loans are not for everyone. In this guide, we’ll provide a comprehensive overview of payday loans in Mistletoe, Kentucky, addressing important factors such as interest rates, repayment terms, and the application process.

What are Payday Loans?

A payday loan is a type of short-term loan that typically comes with high-interest rates and fees. These loans are usually for small amounts, ranging from $100 to $500, and are due on the borrowers’ next payday. Payday loans are designed to help borrowers cover unexpected expenses or bridge the gap between paychecks.

Are Payday Loans Legal in Mistletoe, Kentucky?

Yes, payday loans are legal in Mistletoe, Kentucky. However, they are only legal for check cashers, not for banks or credit unions. To be safe, it’s essential to ensure that the lender you’re working with is licensed to provide payday loans in the state of Kentucky.

How Do Payday Loans Work?

The payday loan application process is relatively simple and straightforward. Borrowers fill out an application form, providing their personal and financial information. If approved, the lender provides the borrower with the loan amount, usually in the form of cash or a check. In exchange, the borrower authorizes the lender to debit their checking account for the loan amount, plus interest and fees, on their next payday.

What Are the Interest Rates and Fees for Payday Loans in Mistletoe, Kentucky?

Payday loans in Mistletoe, Kentucky, can be costly, with annual percentage rates (APRs) ranging up to 400%. Lenders typically charge a fee of $15 per $100 borrowed, with repayment terms ranging from seven to 30 days. Borrowers can expect to pay an average of $52 in interest and fees for a $300 payday loan with a 14-day repayment term.

What Are the Risks of Taking Out a Payday Loan?

The high-interest rates and fees associated with payday loans can trap borrowers in a cycle of debt. Many borrowers find themselves unable to repay the loan when it comes due, resulting in a rollover or renewal of the loan, which comes with additional fees and interest charges. It’s essential to carefully consider the long-term costs and potential risks before taking out a payday loan.

Interesting Facts about Payday Loans in Mistletoe, Kentucky

  • The average payday loan in Mistletoe, Kentucky, is for $375.
  • Approximately 70% of payday loan borrowers in Kentucky use the funds to pay for recurring expenses such as rent or utilities.
  • Payday lenders in Kentucky are required to post a fee schedule in prominent locations in their stores, so borrowers can clearly understand the costs associated with a loan.
  • The average APR for payday loans in Kentucky is 475%, one of the highest in the nation.
  • In Kentucky, payday loan borrowers can take out up to two loans simultaneously, with a total loan amount of $500 or less.

Apply Now

TheGuaranteedLoans is a connector service that connects borrowers with potential lenders. When you fill out an application on our website, we work to match you with a lender that offers payday loans in Mistletoe, Kentucky. Our platform makes it easy to compare rates and terms from multiple lenders, so you can find the loan option that works best for your needs.

Note: TheGuaranteedLoans is not a direct lender and does not provide loans. We are a connector service designed to help you find the best loan option for your needs.

Conclusion

Payday loans can be a useful tool in a pinch, but they come with high-interest rates and fees. Before taking out a payday loan, it’s essential to carefully consider the costs and potential risks. By understanding the interest rates, repayment terms, and application process for payday loans in Mistletoe, Kentucky, you can make an informed decision about whether this type of loan is right for you.

F.A.Q.

Can I apply for a payday loan if I am receiving Social Security benefits in Mistletoe, Kentucky?

Yes, individuals who are receiving Social Security benefits are eligible to apply for payday loans in Mistletoe, Kentucky. However, they will need to provide proof of income in order to qualify.

Can I apply for a payday loan if I am a student in Mistletoe, Kentucky?

Yes, students are eligible to apply for payday loans in Mistletoe, Kentucky, as long as they meet the other eligibility requirements. However, it is important to carefully consider whether a payday loan is the best option for managing their finances as a student.