Payday Loans in Sharon Grove, Kentucky

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

Company nameAddressZip codePhone number
Community Check Advance Inc 108 Ensminger Dr, Glasgow, KY 42141 +1 (270) 629 - 2424
Kwik Kash Pawn 1120 Main St, Munfordville, KY 42765 +1 (270) 524 - 5274
Fahe 319 Oak St, Berea, KY 40403 +1 (859) 986 - 2321
Cash Express Shopping Center, 106 Clay Co, Manchester, KY 40962 +1 (606) 596 - 0301
Check Into Cash 1801 Alexandria Dr Ste 188, Lexington, KY 40504 +1 (859) 277 - 9828
Cash Express 157, KY-7, Sandy Hook, KY 41171 +1 (606) 738 - 4849
First Financial Credit 102 Blairs Way, Louisa, KY 41230 +1 (606) 638 - 7737
German American Bank 2 N Green St, Henderson, KY 42420 +1 (270) 854 - 1020
Cash Express 101 N Cross St, Albany, KY 42602 +1 (606) 387 - 0531
Lendmark Financial Services Inc 1138 US Highway 68, Maysville, KY 41056 +1 (606) 564 - 8222

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Sharon Grove, 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 Loans in Hopkinsville, KY, Payday Loans 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 Sharon Grove, KY.

Are Payday Loans Legal In Sharon Grove, 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

Sharon Grove, KY payday loan calculator

The Lowdown on Payday Loans in Sharon Grove, Kentucky

Are you in need of some quick cash to tide you over until your next paycheck? If so, payday loans may seem like an attractive option. But before you take the plunge, it’s essential to understand the ins and outs of how these types of loans work, particularly in Sharon Grove, Kentucky.

What Are Payday Loans?

Payday loans, also referred to as short-term loans, are typically designed to provide individuals with cash advances until their next payday. In most cases, these loans are expected to be repaid within two weeks to a month.

In Kentucky, payday loans are legal, but only for check cashers. Some of the key features of these loans in Sharon Grove, Kentucky, include the following:

  • The minimum loan amount is $100, and the maximum loan amount is $500.
  • Borrowers can only have two outstanding loans at any given time.
  • The fees on payday loans cannot exceed $15 per $100 borrowed.
  • The annual percentage rate (APR) on payday loans is capped at 460%.
  • Loans cannot be rolled over or renewed.

How to Apply for a Payday Loan in Sharon Grove

If you’re considering a payday loan in Sharon Grove, Kentucky, here’s what you need to know:

  • The application process is relatively straightforward and typically involves filling out an online application form.
  • Applicants must be at least 18 years old and have a regular source of income.
  • Applicants must also provide proof of identity and residency, such as a driver’s license or utility bill.
  • If approved, the funds can typically be deposited into your bank account within 24 hours.

The Pros and Cons of Payday Loans

Like any type of loan, payday loans have their pros and cons. Some of the benefits of payday loans include:

  • They are quick and easy to obtain, with minimal paperwork needed.
  • They can be a useful short-term solution for those facing unexpected expenses.
  • They are an option for those with little to no credit history or poor credit scores.
  • They can help individuals avoid more costly fees, such as overdraft fees or late payment fees.

However, there are also several downsides to payday loans, including:

  • They often come with high fees and interest rates, which can make them difficult to repay.
  • They can be a slippery slope into debt, particularly if borrowers take out multiple loans to make ends meet.
  • They are not a long-term solution to financial problems and can create a cycle of debt for those who use them frequently.
  • They can have a negative impact on credit scores if not repaid on time.

Interesting Facts and Statistics about Payday Loans in Sharon Grove, Kentucky

  • According to a report by the Kentucky Coalition for Responsible Lending, the average payday loan borrower in Kentucky takes out eight loans per year, with an average loan amount of $391.
  • The same report found that payday lenders in Kentucky made more than $184 million in fees in 2019.
  • The Pew Charitable Trusts found that the average Kentucky payday loan borrower pays $563 in fees annually to borrow $326.

Apply Now for a Payday Loan Connect on TheGuaranteedLoans Website

If you’re considering a payday loan in Sharon Grove, Kentucky, connecting with a potential lender through TheGuaranteedLoans website can help simplify the process. As a connector service, we facilitate the connection between borrowers and potential lenders.

If you’re interested in exploring your options for a payday loan, visit TheGuaranteedLoans website today to fill out an online application. Our application process is quick and easy, and we work with a network of trusted lenders to help find the loan option that’s right for you.

Remember, while payday loans can be a useful short-term solution for unexpected expenses, it’s important to weigh the pros and cons carefully before taking out a loan. Additionally, it’s essential to only borrow what you can afford to repay, and to avoid getting caught in a cycle of debt.

F.A.Q.

How do I repay a payday loan in Sharon Grove, Kentucky?

Payday loans in Sharon Grove, 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 Sharon Grove, Kentucky?

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