Payday Loans in Tateville, Kentucky

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

Company nameAddressZip codePhone number
South Central Bank 211 Main St, Fountain Run, KY 42133 +1 (270) 434 - 2281
ky check advance 209 KY-15, Jackson, KY 41339 +1 (606) 666 - 7007
Un Banc Inc 15936 Fort Campbell Blvd, Oak Grove, KY 42262 +1 (270) 439 - 5182
Mariner Finance 1321 E Broadway St, Campbellsville, KY 42718 +1 (270) 789 - 0035
Money Now 4408 Dixie Hwy, Louisville, KY 40216 +1 (502) 448 - 2355
United States Postal Service 605 Ferry Ave, Worthington, KY 41183 +1 (800) 275 - 8777
Cash Express 101 North Cross Street, Albany, KY 42602 +1 (606) 387 - 0531
Woodforest National Bank 120 Jill St, Berea, KY 40403 +1 (859) 986 - 2328
Southside Financial Services Inc 3017 Irvin Cobb Dr, Paducah, KY 42003 +1 (270) 442 - 3415
Citizens National Bank 167 Carol Malone Blvd, Grayson, KY 41143 +1 (606) 474 - 2180

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Tateville, KY, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Florence, KY, Guaranteed Loans in Georgetown, KY, Payday Loans in Hopkinsville, KY, No Credit Check Loans in Louisville, KY, Payday Loan Companies in Owensboro, KY and Payday Loan Without a Credit Check 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 Tateville, KY.

Are Payday Loans Legal In Tateville, 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

Tateville, KY payday loan calculator

Located in south-central Kentucky, Tateville is a small town with a population of just over 800 people. Despite its small size, Tateville is host to several check cashing facilities, making short-term, high-interest payday loans readily accessible to local residents.

What Are Payday Loans?

Payday loans are short-term loans typically taken out by low-income individuals who require fast cash and have no other means of obtaining it. The loans are extremely high-interest, often with APRs in the triple digits, and are designed to be paid back within a matter of weeks. The loan amount is usually no more than a few hundred dollars, and lenders require borrowers to provide a postdated check or access to their bank account as collateral.

Payday Loan Lending Laws in Kentucky

In Kentucky, payday lending is legal and is permitted only through licensed check cashing facilities. The state sets a maximum borrowing limit of $500, and lenders are limited to charging a maximum of $15 per $100 borrowed for a period of 14 days. Borrowers are limited to taking out a maximum of two payday loans at any one time, and the total amount of loans cannot exceed $500.

Interest Rates and Fees

The high costs associated with payday loans have made them a target of criticism from consumer advocates and financial experts. In Tateville, as in other places throughout the country, borrowers can expect to pay an average interest rate of 391% for a typical payday loan. In addition to interest charges, lenders may also charge fees for loan processing, non-sufficient funds, and prepayment penalties.

Alternatives to Payday Loans

For anyone facing a financial crunch, payday loans may seem like an attractive option. However, with such exorbitant interest rates and fees, they can quickly become a financial trap. Instead of turning to payday loans, consider the following alternatives:

  • Personal loans: Banks and credit unions may offer personal loans at a lower interest rate than payday loans. Interest rates will depend on your credit score and current financial situation.
  • Credit card cash advance: While credit card cash advances are also high-interest, they may still be cheaper than a payday loan. Just be aware that interest rates are typically as high as 25% or more.
  • Friends and family: If you’re in dire straits, consider asking friends and family for a loan. Be sure to draw up a formal repayment plan to avoid any miscommunications or hurt feelings.

Interesting Facts and Statistics about Payday Loans in Tateville, Kentucky

– Tateville is home to several check cashing facilities, making payday loans easily accessible for local residents.

– According to a 2019 study by the Kentucky Coalition for Responsible Lending, the average payday loan borrower in Kentucky takes out 10 payday loans per year, with an average loan amount of $375.

– In 2019, Kentucky passed a bill that would cap payday loan interest rates at 36%, but the bill ultimately failed to pass the Senate.

Apply Now

If you find yourself in need of a short-term loan, consider applying through TheGuaranteedLoans. We are a connector service that can help connect you with potential lenders who may be able to meet your needs. Please note that we are not a direct lender and do not make credit decisions. We simply connect you with lenders who may be able to offer you a loan. Apply now to see what options are available to you.

F.A.Q.

Is there a cooling-off period between payday loan payments in Tateville, Kentucky?

Yes, there is a mandatory cooling-off period of at least 7 days between payday loan payments in Tateville, Kentucky.

Can I be charged additional fees for late or missed payments on my payday loan in Tateville, Kentucky?

Yes, you may be charged additional fees for late or missed payments on your payday loan in Tateville, Kentucky.