Payday Loans in Enid, Mississippi

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No payday loan companies in Enid, MS. Consider companies in other cities:

Company nameAddressZip codePhone number
A Dollar Cash Advance 2218 Main St, Tupelo, MS 38801 +1 (662) 840 - 3138
Fisher Brothers Financial Services 1910 W Pine St, Hattiesburg, MS 39401 +1 (601) 544 - 7300
Tower Loan 712 N 4th St, Baldwyn, MS 38824 +1 (662) 365 - 3488
Family Check Advance 1453 US 49, Magee, MS 39111 +1 (601) 849 - 2425
LoanMaster 2024 US-45, Columbus, MS 39705 +1 (662) 328 - 3727
First South Farm Credit 306 E Jefferson St, Aberdeen, MS 39730 +1 (662) 369 - 4752
CASH N GO 317 Heritage Dr, Oxford, MS 38655 +1 (662) 638 - 3462
Statewide FCU 809 W Sunflower Rd, Cleveland, MS 38732 +1 (601) 420 - 5535
Community Choice Financial 127 S 16th Ave, Laurel, MS 39440 +1 (601) 428 - 5950
Mississippi Title Loans, Inc. 1957 Jerry Clower Blvd N, Yazoo City, MS 39194 +1 (662) 746 - 6978

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Enid, MS, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Companies in Gulfport, MS, Payday Loans in Hattiesburg, MS, Same Day Loans in Jackson, MS, Payday Loans in Meridian, MS, Short-term Loans in Olive Branch, MS, Payday Loan Companies in Southaven, MS, Payday Loan for Tupelo, MS and Payday Loans in Biloxi, MS. 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 Enid, MS.

Beautiful sights of Enid, MS

Are Payday Loans Legal In Enid, Mississippi?

Loan Rates and Fees, Laws and Regulations in Mississippi.

Mississippi Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)521
Maximum Loan Amount$500
Minimum Loan TermNot Specified
Maximum Loan Term30 days
Number of Rollovers Allowed6, loan must be reduced by at least 5% for every rollover
Finance Charges<$250 = not more than $20 per $100 $250 - $500 = not more than $21.95 per $100

Enid, MS payday loan calculator

Introduction

Payday loans are a popular type of short-term loan in Mississippi, including Enid. They are often used to cover unexpected expenses or bridge the gap between paychecks. This article will provide an overview of Payday Loans in Enid, Mississippi, including how they work, their benefits and drawbacks, and how to apply for one.

How do Payday Loans work in Enid, Mississippi?

Payday loans in Enid, Mississippi, work similarly to other states. A borrower requests a loan ranging from $100 to $500 for a two-week period, and the lender charges a fee for providing the funds. The fees for Payday Loans are higher than traditional loans due to the short term of the loan, the absence of collateral, and the high-risk nature of the transaction. The borrower is required to repay the loan in full on or before the agreed-upon date, or they can request an extension.

The Benefits of Payday Loans in Enid, Mississippi

One of the main benefits of Payday Loans in Enid, Mississippi, is that they offer a quick source of cash to cover unexpected expenses. This may include car repairs, medical expenses, or other bills that cannot be covered by a savings account or credit card. Payday loans are also easy to obtain, and unlike traditional loans, they do not require good credit or collateral. Additionally, payday loans can help people achieve financial independence and stability by helping them avoid missed payments and late fees.

The Drawbacks of Payday Loans in Enid, Mississippi

One of the main drawbacks of Payday Loans in Enid, Mississippi, is the high fees associated with them. The fees for payday loans are much higher than traditional loans due to the short-term nature of the loan. As a result, borrowers may end up paying a significant amount of money in fees that outweigh the benefits of the loan. Additionally, payday loans can lead to a cycle of debt if borrowers are unable to repay the loan in full by the agreed-upon date. Moreover, payday loans can result in financial instability if borrowers rely on them too often to cover their expenses.

How to Apply for Payday Loans in Enid, Mississippi

Applying for a payday loan in Enid, Mississippi, is a simple process that can be completed online or in person. Borrowers need to provide basic personal information, proof of employment and income, and a valid checking account. Once the borrower is approved, the lender will provide the funds, and the borrower can access them immediately. Overall, the process is fast and straightforward, allowing borrowers to receive the money they need quickly.

Interesting Facts and Statistics about Payday Loans in Enid, Mississippi

  • Mississippi has the highest poverty rate in the US, making payday loans a popular option for those who are unable to access traditional loans or credit cards, making this sector grow rapidly in the past few years.
  • Approximately 200,000 Mississippians take out payday loans every year, and the average loan amount is around $350.
  • Mississippi state law allows lenders to charge up to $20 per $100 borrowed, making the state to have some of the highest fees in the country

Apply Now

Do you find yourself in need of quick cash to cover unexpected expenses? TheGuaranteedLoans can help you connect with potential lenders in Enid, Mississippi, and the surrounding areas. We are a connector service, not a direct lender, and we make it easy to get the funds you need. To apply, simply fill out our online application, and we will match you with a lender that can meet your needs. Apply now and get the funds you need in as little as 24 hours!

Conclusion

Payday loans in Enid, Mississippi, are a useful tool for those who need quick cash to cover unexpected expenses. However, they come with high fees and potential risks, so it is essential to use them responsibly. By understanding how payday loans work, their benefits and drawbacks, and the application process, you can make an informed decision about whether a payday loan is right for you. If you’re considering a payday loan, remember to look for a lender with transparent terms, and always read the fine print.

F.A.Q.

Is it mandatory for payday lenders to provide information on alternative forms of credit in Enid, Mississippi?

Yes, payday lenders in Enid, Mississippi are required to provide information on alternative forms of credit to borrowers. This is to ensure that borrowers have access to other options for borrowing money, and to prevent them from taking out multiple payday loans.

Are there any protections for borrowers of payday loans in Enid, Mississippi?

Yes, there are protections for borrowers of payday loans in Enid, Mississippi. These include the requirement for lenders to disclose the terms and conditions of the loan, the prohibition on rollovers and renewals, and the maximum interest rate and fees that can be charged. Borrowers also have the right to dispute any incorrect information on their credit reports.