Payday Loans in Raywick, Kentucky

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

Company nameAddressZip codePhone number
Advance U Cash 6823 Alexandria Pike, Alexandria, KY 41001 +1 (859) 448 - 9700
Peoples Exchange Bank 53 E Pendleton St, Stanton, KY 40380 +1 (606) 663 - 9500
Jenkins Branch Bank 3040 And, Jenkins, KY 41537 +1 (606) 832 - 2131
Omni Military Loans 295 W Lincoln Trail Blvd, Radcliff, KY 40160 +1 (270) 351 - 8000
USA Payday Loans 200 Tiger Way, Georgetown, KY 40324
Heights Finance Corporation 1365 S Main St, Madisonville, KY 42431 +1 (270) 825 - 8755
Peoples Bank 116 S Main St, Marion, KY 42064 +1 (270) 965 - 3188
Planters Bank 796 US-41, Sebree, KY 42455 +1 (270) 835 - 0224
World Finance 940 Jamestown St, Columbia, KY 42728 +1 (270) 384 - 2155
U.S. Bank Branch 33 Windsor Rd, Flemingsburg, KY 41041 +1 (606) 845 - 5300

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Raywick, 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, Payday Loan for Hopkinsville, KY, Bad Credit Loans in Louisville, KY, Guaranteed Loans in Owensboro, KY and Quick 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 Raywick, KY.

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

40060

Are Payday Loans Legal In Raywick, 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

Raywick, KY payday loan calculator

Payday Loans in Raywick, Kentucky: A Comprehensive Guide

Emergencies and unexpected expenses can happen to anyone, and when they do, the need for quick cash can be overwhelming. Payday loans are a common solution to short-term financial needs, especially for those with poor credit or no credit history. In Kentucky, payday loans are legal, but it’s important to understand the regulations and risks associated with them.

What Are Payday Loans?

A payday loan is a small, short-term loan that’s typically due on the borrower’s next payday. The loan amounts vary, but in Kentucky, the maximum loan amount is $500, and the loan term cannot exceed 60 days. Borrowers usually pay back the loan in one lump sum, which includes the principal amount plus fees and interest.

How Do Payday Loans Work?

To apply for a payday loan in Raywick, Kentucky, you’ll need to provide a valid ID, proof of income, and a postdated check or authorization for electronic withdrawal from your bank account. If you’re approved, the lender will give you the cash or deposit it into your bank account. You’ll then be expected to pay back the loan on your next payday. If you’re unable to pay back the loan on time, you may be charged additional fees and interest, which can quickly add up and put you in a cycle of debt.

Payday Loan Regulations in Kentucky

Kentucky has specific regulations in place to protect borrowers from predatory lending practices. Check cashers, which are the only types of lenders allowed to offer payday loans in Kentucky, are required to be licensed and follow certain guidelines. The Kentucky Department of Financial Institutions regulates check cashers and ensures that they comply with state laws.

The maximum loan amount in Kentucky is $500, and lenders are not allowed to charge more than $15 per $100 borrowed. The loan term cannot exceed 60 days, and borrowers are not allowed to take out more than two loans at a time. Additionally, rollovers, extensions, and renewals are not allowed.

The Risks of Payday Loans

While payday loans are a quick and easy way to get cash when you need it, they come with significant risks. The high fees and interest rates can make it difficult to pay back the loan on time, which can lead to a cycle of debt and financial hardship. Additionally, payday loans can negatively impact your credit score, making it harder to get approved for loans or credit cards in the future.

If you’re considering a payday loan in Raywick, Kentucky, it’s important to understand the risks and weigh them against the benefits. Only take out a loan if you’re certain you can pay it back on time and in full.

Interesting Facts and Statistics About Payday Loans in Raywick, Kentucky

  • There are more than 300 payday lenders in Kentucky.
  • The average payday loan in Kentucky is $340.
  • Kentucky has some of the highest payday loan interest rates in the country, with an APR of 460%.
  • More than 80% of payday loans in Kentucky are rolled over or renewed, leading to a cycle of debt.

Apply Now

If you’re in need of quick cash and have exhausted other resources, a payday loan may be an option for you. TheGuaranteedLoans is a connector service that can help you find a lender who can meet your needs. We understand that financial emergencies can be stressful, and we’re here to help make the process as easy and stress-free as possible.

With TheGuaranteedLoans, applying for a payday loan is quick and easy. Simply fill out our online application and we’ll match you with a lender who can provide the cash you need. Remember, we’re a connector service, not a direct lender, so we won’t lend you money. Instead, we’ll facilitate your connection with potential lenders.

Don’t let a financial emergency get you down. Apply for a payday loan with TheGuaranteedLoans today and get the cash you need to take control of your finances.

F.A.Q.

Can I be denied a payday loan in Raywick, Kentucky based on my credit score?

No, payday lenders in Raywick, Kentucky are not allowed to deny a loan based on your credit score. However, a low credit score may affect the terms and conditions of the loan.

How do I know if a payday lender is licensed to operate in Raywick, Kentucky?

To check if a payday lender is licensed to operate in Raywick, Kentucky, you can visit the Kentucky Office of Financial Institutions website and search for their name or license number.