Payday Loans in Union, Kentucky

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

Company nameAddressZip codePhone number
First Financial Credit 117 Banjo St, Bardstown, KY 40004 +1 (502) 349 - 3105
Woodforest Bank 420 Factory Outlet Rd, Hanson, KY 42413 +1 (270) 821 - 7000
MoneyGram 75 Walmart Plaza Dr 7, Monticello, KY 42633 +1 (606) 348 - 1474
World Finance Corporation 125 Sam Walton Dr #110, Russellville, KY 42276 +1 (270) 725 - 8511
Woodforest Bank 3220 Irvin Cobb Dr, Paducah, KY 42003 +1 (270) 442 - 2600
Peoples Exchange Bank 175 Brooks Pl Way, Winchester, KY 40391 +1 (800) 364 - 3631
Advance America - Closed 1705 N Dixie Hwy, Elizabethtown, KY 42701 +1 (270) 765 - 5312
World Finance Corporation 196 Collins Cir, Prestonsburg, KY 41653 +1 (606) 886 - 1484
Fast And Easy Payday Loans 1713 Cheak Ct, Louisville, KY 40213 +1 (800) 457 - 9519
First Financial Bank 306 Lake St, Fulton, KY 42041 +1 (270) 472 - 3300

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Union, 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, No Credit Check Loans in Hopkinsville, KY, Payday Loans in Louisville, KY, Payday Loans in Owensboro, KY and Bad Credit 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 Union, KY.

Beautiful sights of Union, KY

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

41091

Are Payday Loans Legal In Union, 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

Union, KY payday loan calculator

Understanding Payday Loans in Union, Kentucky

In the state of Kentucky, Payday loans are legal but only applies to check cashers. A Payday loan is a short-term loan that typically has a 14-day repayment term. The loans are designed to help individuals cover emergency expenses like car repair, medical bills, or overdue utility bills. To qualify, the borrower must be employed and have a checking account. As with any financial product, it’s important to have a solid understanding of the terms and fees associated with Payday loans.

The Application Process

The application process for a Payday loan in Union, Kentucky, is straightforward. Once the applicant fills out an online application form and submits it to The Guaranteed Loans, lenders will review the information and determine if the applicant meets the qualifications. If all checks out, the borrower is issued the loan amount directly into their checking account. However, borrowers should take note that it’s essential to repay the loan within the set repayment period or risk additional fees and charges, as well as harm to their credit score.

Fees and Charges

Payday loans tend to have higher fees and charges than traditional loans, so it’s important to understand the total cost of the loan, including the interest rate and any additional fees. In Union, Kentucky, lenders can charge up to $15 per $100 borrowed. Therefore, if a borrower borrows $500, they can expect to pay back $575 in total. The Annual Percentage Rate (APR) varies from lender to lender, but Kentucky law mandates that the APR must not exceed 459%.

Interesting Facts and Statistics about Payday Loans in Union, Kentucky

  • Approximately 19% of Kentuckians live below the poverty line, which is higher than the national average. This could explain the demand for Payday loans in the state.
  • According to a 2019 report by the Kentucky Coalition for Responsible Lending, the average borrower takes out eight loans each year, meaning the borrower is in debt for more than half of the year.
  • On average, Kentucky borrowers pay $563 in fees and interest for a $300 Payday loan, according to the Center for Responsible Lending. This amount can add up quickly, leading to a debt cycle that’s challenging to escape.

Apply Now

If you’re in need of emergency funds in Union, Kentucky, The Guaranteed Loans is here to help. We’re a connector service that can connect you with potential lenders who can offer you a Payday loan that meets your financial needs. It’s important to remember that a Payday loan should be a last resort for covering emergency expenses. If you’re facing long-term financial hardship, we encourage you to reach out to a credit counselor or financial advisor to help you work towards a more stable financial future.

Apply now to see if you qualify for a Payday loan in Union, Kentucky. Remember, The Guaranteed Loans is only a connector service, so we cannot guarantee approval for any loans.

Please note that Payday loans are legal in Union, Kentucky, and we strive to offer accurate information to our readers. However, laws and regulations can change at any time, so we encourage our readers to consult with local and state authorities to stay informed on the latest developments regarding payday loan regulations.

F.A.Q.

Can I cancel or void my payday loan in Union, Kentucky?

Yes, you have the right to cancel or void your payday loan within 14 days of signing the loan agreement in Union, Kentucky.

Can I be charged a penalty for prepaying my payday loan in Union, Kentucky?

No, you cannot be charged a penalty for prepaying your payday loan in Union, Kentucky.