Payday Loans in Renfro Valley, Kentucky

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

Company nameAddressZip codePhone number
Albany Loan Co 801 Tennessee Rd # A, Albany, KY 42602 +1 (606) 387 - 4430
Advance America 399 Campbellsville Bypass, Campbellsville, KY 42718 +1 (270) 465 - 0300
Cash Express 110 N Main St, Edmonton, KY 42129 +1 (270) 432 - 0800
World Finance 1661 KY-192 4, London, KY 40741 +1 (606) 862 - 6660
Lendmark Financial Services LLC 9346 Cedar Center Way, Louisville, KY 40291 +1 (502) 253 - 9712
Community Trust Bank 161 S Lake Dr, Prestonsburg, KY 41653 +1 (606) 886 - 2382
Citizens Commerce Bank 534 Marsailles Rd, Versailles, KY 40383 +1 (859) 879 - 9455
Advance America 3216 Irvin Cobb Dr Suite D, Paducah, KY 42003 +1 (270) 444 - 6190
Citizens Deposit Bank 5230 S Main St, Eminence, KY 40019 +1 (502) 845 - 5639
First Community Bank 114 E Jackson St, Clinton, KY 42031 +1 (270) 653 - 4301

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Renfro Valley, KY, you can try to find different companies in big cities near by. Check out the following pages here: Online Loans in Florence, KY, Payday Loans in Georgetown, KY, Payday Loans in Hopkinsville, KY, Payday Loan for 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 Renfro Valley, KY.

Are Payday Loans Legal In Renfro Valley, 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

Renfro Valley, KY payday loan calculator

Payday Loans in Renfro Valley, Kentucky: Everything You Need to Know

Payday loans are a type of short-term loan that has grown in popularity in recent years. While Kentucky law allows for payday loans through check cashers, not all lenders are created equal, and it is important to understand the risks and benefits of taking out a payday loan in Renfro Valley, Kentucky.

What are payday loans?

Payday loans are short-term loans, typically ranging from $100 to $500, that are designed to be repaid on the borrower’s next payday. These loans are meant to provide a quick and easy solution for those who need cash before their next paycheck.

However, payday loans often come with high interest rates and fees. They are often criticized for trapping borrowers in a cycle of debt, as many borrowers must continue to take out loans to pay off their previous loans.

What are the laws regarding payday loans in Renfro Valley, Kentucky?

Payday loans are legal in Renfro Valley, Kentucky, as long as they are provided by check cashers, which are licensed by the Kentucky Department of Financial Institutions. The maximum amount that can be borrowed through a payday loan in Kentucky is $500, and the loan term cannot exceed 60 days.

What are the risks and benefits of payday loans?

Payday loans are a controversial type of loan, as they come with high interest rates and fees. The interest rates on payday loans can be as high as 400%, making them a very expensive way to borrow money.

However, payday loans can also be beneficial for those who need cash quickly and have no other options. If used responsibly and paid back on time, payday loans can help individuals cover unexpected expenses like car repairs or medical bills.

Things to consider before taking out a payday loan

  • Ensure that you understand the fees and interest rates associated with the loan. These can vary widely depending on the lender.
  • Be aware of the repayment terms and due date. Failure to repay the loan on time can result in additional fees and interest charges, as well as damage to your credit score.
  • Consider alternative options, such as a personal loan or credit card, which may have lower interest rates and fees.
  • Only borrow what you can afford to pay back. Taking out a loan that you cannot repay can lead to financial hardship and a cycle of debt.

Interesting facts and statistics about payday loans in Renfro Valley, Kentucky

  • Renfro Valley is a small community located in Rockcastle County, Kentucky.
  • The poverty rate in Renfro Valley is higher than the national average, at 27.6%.
  • In Kentucky, the average payday loan borrower takes out 10 loans per year, with an average loan amount of $340.

Apply Now

Looking for a payday loan in Renfro Valley, Kentucky? TheGuaranteedLoans can help! Fill out our online application today and get connected with a potential lender. Please note that TheGuaranteedLoans is a connector service, not a direct lender.

Please ensure that you read and understand all terms and conditions before accepting a loan offer.

In conclusion, payday loans can be a useful tool for those who need cash quickly, but they come with high interest rates and fees. It is important to understand the risks and benefits associated with payday loans before taking one out. Remember to only borrow what you can afford to pay back and shop around for the best deal.

F.A.Q.

How do I repay a payday loan in Renfro Valley, Kentucky?

Payday loans in Renfro Valley, Kentucky are typically repaid in full on the borrower's next payday, either by providing a post-dated check or authorizing electronic access to the borrower's checking account.

Can I apply for a payday loan if I am self-employed in Renfro Valley, Kentucky?

Yes, individuals who are self-employed are eligible to apply for payday loans in Renfro Valley, Kentucky. However, they may need to provide additional documentation to prove their income.