Payday Loans in Wayland, Kentucky

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

Company nameAddressZip codePhone number
Forcht Bank 102-108 N Public Square, Greensburg, KY 42743 +1 (270) 932 - 7491
Lendmark Financial Services LLC 152 W Tiverton Way Suite 110, Lexington, KY 40503 +1 (859) 335 - 0187
Lendmark Financial Services LLC 14659 US-25, Corbin, KY 40701 +1 (606) 258 - 9499
Citizens National Bank - Monticello Branch 290 Cumberland Crossing, Monticello, KY 42633 +1 (606) 348 - 3084
Personal Finance Company 252 N Main St #2, Russellville, KY 42276 +1 (270) 731 - 0100
Personal Finance Company 727 N Main St, Franklin, KY 42134 +1 (270) 586 - 0049
Springfield State Bank 125 E Main St, Springfield, KY 40069 +1 (859) 336 - 3939
PNC Bank 105 W John Rowan Blvd, Bardstown, KY 40004 +1 (502) 349 - 0756
Central City Loans & Sporting 301 N 2nd St, Central City, KY 42330 +1 (270) 754 - 9900
Eagle Finance 110 Corporate Dr 102, Hazard, KY 41701 +1 (606) 910 - 4040

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Wayland, KY, you can try to find different companies in big cities near by. Check out the following pages here: Short-term Loans in Florence, KY, Payday Loan Without a Credit Check in Georgetown, KY, Payday Loans in Hopkinsville, KY, Bad Credit Loans in Louisville, KY, Same Day Loans 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 Wayland, KY.

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

41666

Are Payday Loans Legal In Wayland, 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

Wayland, KY payday loan calculator

Understanding Payday Loans in Wayland, Kentucky

Payday loans have gained a reputation for being both a helpful solution and a problematic financial decision. These short-term loans offer quick financial relief when you’re in a pinch and need a small amount of cash. If you live in Wayland, Kentucky, then you’re in luck because payday loans are legal in the state of Kentucky. However, before you rush to apply for a payday loan, it’s important to understand what you’re getting into.

How Payday Loans Work in Wayland, Kentucky

Payday loans are short-term loans designed to cover small expenses until your next paycheck arrives. In Wayland, Kentucky, lenders may offer up to $500 for a term ranging from 14 to 60 days. The fees for payday loans in Kentucky are limited to $15 per $100 borrowed up to $500. Therefore, if you take out a $500 payday loan, the maximum fee charged can be $75. You’ll typically need to provide a post-dated check or authorize an electronic withdrawal for the amount borrowed plus fees.

Pros of Payday Loans in Wayland, Kentucky

  • Fast access to cash: Payday loans are one of the fastest ways to get cash when you need it. In many cases, you can receive funds the same day you apply.
  • No credit check: Most payday lenders in Kentucky won’t check your credit score before approving your loan application. Instead, they’ll look at your income and employment status to determine your eligibility for a loan.
  • Easy to qualify: Approval for payday loans is generally more accessible than other types of loans. As long as you meet the eligibility criteria, you’re likely to be approved for a payday loan.

Cons of Payday Loans in Wayland, Kentucky

  • High fees: The fees for payday loans in Kentucky can be high, especially compared to other types of loans. Some borrowers may be charged an effective APR of 400% or more.
  • Short repayment terms: The repayment term for payday loans is short, often as little as two weeks. This can make it difficult to repay the loan on time, leading to additional fees and charges.
  • Cycle of debt: Rolling over payday loans or taking out multiple loans to cover the fees of existing debts can set you on a cycle of debt that’s difficult to break.

Interesting Facts and Statistics about Payday Loans in Wayland, Kentucky

  • Kentucky has more than 500 payday lenders operating throughout the state.
  • In 2019, the average payday loan amount in Kentucky was $373.
  • The average APR for payday loans in Kentucky is 391%.
  • The total annual revenue generated by payday lenders in Kentucky was $184 million in 2019.
  • A survey by Pew Charitable Trusts found that 58% of payday loan borrowers in Kentucky struggle to meet their expenses.

Apply Now with TheGuaranteedLoans

If you find yourself in need of a payday loan in Wayland, Kentucky, TheGuaranteedLoans is here to help. We connect borrowers with a network of potential lenders to streamline the application process. Fill out our online form easily and quickly. After submitting your application, we’ll connect you with lenders who can offer you a loan that suits your needs and financial situation. Remember that TheGuaranteedLoans is not a direct lender, but we’ll facilitate the application process to connect you with potential lenders.

Conclusion

Payday loans in Wayland, Kentucky can be a lifesaver when you need quick cash to cover unexpected expenses. However, it’s important to keep in mind the pros and cons of payday loans before deciding to take one out. Make sure you understand the fees, repayment terms, and the potential consequences before applying for a payday loan. And remember, never borrow more than you can afford to repay.

F.A.Q.

Can I apply for a payday loan online in Wayland, Kentucky?

Yes, you can apply for a payday loan online in Wayland, Kentucky, as long as the lender is licensed to operate in the state.

Do I need a bank account to take out a payday loan in Wayland, Kentucky?

Yes, you will need a valid bank account to take out a payday loan in Wayland, Kentucky.