Payday Loans in Smilax, Kentucky

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

Company nameAddressZip codePhone number
Century Bank 201 W Woodford St, Lawrenceburg, KY 40342 +1 (502) 859 - 5111
Heights Finance Corporation 13 Oblique St, Florence, KY 41042 +1 (859) 525 - 0888
Colortyme Payday Loans & Check 5739 Preston Hwy, Louisville, KY 40219 +1 (502) 968 - 2274
ColorTyme Sales and Lease of Lexington, KY 1301 Winchester Rd #201, Lexington, KY 40505 +1 (859) 225 - 9999
Check Advance 1575 Old US Hwy 68 Loop 2, Maysville, KY 41056 +1 (606) 759 - 7514
First National Bank of Kentucky 2639 KY-227, Carrollton, KY 41008 +1 (502) 732 - 8280
Cash Express 90 Cs-1014, Tompkinsville, KY 42167 +1 (270) 487 - 1052
Heights Finance Corporation 1267 Paris Rd, Mayfield, KY 42066 +1 (270) 247 - 0691
World Finance Corporation 1215 N Main St #18, Monticello, KY 42633 +1 (606) 348 - 9308
Cash Express 408 N 12th St, Murray, KY 42071 +1 (270) 753 - 8999

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Smilax, 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, No Credit Check Loans in Louisville, KY, Payday Loans in Owensboro, KY and Payday Loan for 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 Smilax, KY.

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

41764

Are Payday Loans Legal In Smilax, 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

Smilax, KY payday loan calculator

Payday Loans in Smilax, Kentucky – The Ultimate Guide

Payday loans are a fast and easy way to get cash when you need it the most. Smilax, Kentucky, residents who need a quick injection of money turn to payday loans to meet their immediate financial needs. If you are considering taking out a payday loan, it’s essential to understand how they work and what to expect before you apply.

What Are Payday Loans?

Payday loans are a type of loan that offers a short-term cash advance to those who qualify. They are typically due on the borrower’s next payday and are secured against the borrower’s income. In Smilax, Kentucky, payday loans are legal, but they are only available through check cashers.

Payday loans are known for their high-interest rates, which can be as much as 460% APR. Because of their high cost, payday loans are often viewed as a last resort for those who need money right away and cannot access traditional forms of credit.

How to Apply for a Payday Loan in Smilax, Kentucky

If you need a payday loan in Smilax, Kentucky, you’ll have to find a licensed check casher. This type of lending is not exclusive to any particular credit score, and all residents can apply.

Typically, the application process for a payday loan involves providing the lender with your personal and financial information, including your name, address, and employment details.

The lender will then assess your application to determine if you can afford the loan and if you meet their lending criteria. If you are approved for a payday loan, the money will be deposited in your bank account within a few days.

What are the Requirements for a Payday Loan in Smilax, Kentucky?

In Smilax, Kentucky, payday loan lenders have to follow state regulations. To apply for a payday loan, you will need:

  • A valid government-issued ID
  • Proof of income or employment, such as a pay stub or bank statement
  • A checking account with a positive balance
  • A valid phone number and email address

Keep in mind that payday loan lenders may have additional requirements, so it’s best to check with the specific lender you are considering to determine what they need.

What are the Benefits of Payday Loans?

Payday loans can be beneficial for those who need quick cash. One of the biggest advantages of payday loans is that they are accessible to most people, regardless of their credit score.

Payday loans are also fast and convenient. You can typically get approved within a few days and have the money deposited directly into your bank account, making them a good option for those who need money quickly.

What are the Risks of Payday Loans?

Payday loans are not a long-term solution to financial problems. They are a short-term financial fix that can be expensive and difficult to pay back.

The high interest rates associated with payday loans mean that borrowers can end up paying significant amounts of money in interest and fees. This can create a cycle of debt, where borrowers have to take out additional loans to repay previous ones, leading to more interest and fees.

The Future of Payday Loans in Smilax, Kentucky

Currently, payday loans are legal in Smilax, Kentucky, but there are ongoing debates about their efficacy and usefulness for borrowers who need quick cash. Several organizations are advocating for stricter regulations on payday lenders to protect consumers and prevent them from falling into cycles of debt.

Interesting Facts About Payday Loans in Smilax, Kentucky

  • In 2018, there were over 7 million payday loans taken out in Kentucky.
  • The average payday loan amount in Kentucky is $334.
  • The average APR for a payday loan in Kentucky is 460%.

Apply Now with TheGuaranteedLoans

If you’re considering a payday loan in Smilax, Kentucky, TheGuaranteedLoans can help you find a lender. We are a connector service, not a direct lender, so we can help facilitate your connection with potential lenders.

To get started, fill out our online application. We’ll ask for some basic information, such as your name, address, and employment details. Once you’ve submitted your application, we will work to connect you with a lender who meets your needs.

If you’re approved for a loan, you can typically expect to receive your funds in your bank account within a few days.

The Bottom Line

Payday loans can be a useful option for those who need quick cash, but they are not without risks. High interest rates and fees make them expensive, and they can create cycles of debt that are difficult to break.

If you’re considering a payday loan, it’s imperative to understand the terms and to ensure that you can repay the loan in full and on time. Consider all your options before committing to a payday loan, and use TheGuaranteedLoans to help find a lender that meets your needs.

F.A.Q.

Can I apply for a payday loan if I am on active military duty in Smilax, Kentucky?

Yes, individuals on active military duty are eligible to apply for payday loans in Smilax, Kentucky. However, there are special protections in place for military members, so be sure to inform the lender if you are on active duty.

Are there any restrictions on the interest rate for payday loans in Smilax, Kentucky?

Yes, the maximum interest rate for payday loans in Smilax, Kentucky is 390% APR.