Payday Loans in Grace, Mississippi

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

Company nameAddressZip codePhone number
Tower Loan 222 W Main St, Louisville, MS 39339 +1 (662) 773 - 3458
51 Title Loans 7909 US-51, Southaven, MS 38671 +1 (662) 342 - 1470
Cash Inc 12100 US 49, Gulfport, MS 39503 +1 (228) 831 - 8000
Great American Loans 2121 Hwy 39 North, Meridian, MS 39301 +1 (601) 693 - 9828
Western Union Community Choice Finan, 3275 US 49 Ste 40, Collins, MS 39428 +1 (601) 765 - 4540
D J's Quik Cash 315 Main St, Philadelphia, MS 39350 +1 (601) 650 - 3597
A-1 Payday Loans 604 US-80 A, Clinton, MS 39056 +1 (601) 925 - 9777
Cash, Inc. of Greenville 1401 Highway 1 South, Suite B, Greenville, MS 38701 +1 (662) 332 - 1300
Speedee Cash 1925 Hwy. 49 East, Yazoo City, MS 39194 +1 (662) 746 - 1771
Advance America 4237-B Lakeland Drive, Flowood, MS 39232 +1 (601) 936 - 4791

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Grace, MS, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Without a Credit Check in Greenville, MS, Payday Loans in Gulfport, MS, Bad Credit Loans in Hattiesburg, MS, Payday Loans in Jackson, MS, Payday Loans in Meridian, MS, Payday Loan Companies in Olive Branch, MS, Payday Loans in Southaven, MS and Payday Loans in Tupelo, 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 Grace, MS.

Are Payday Loans Legal In Grace, 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

Grace, MS payday loan calculator

Are you living in Grace, Mississippi, and struggling to make ends meet? Are you considering taking out a payday loan to get you through a tough financial situation? While payday loans are legal in Mississippi, it’s crucial to understand the risks and benefits before deciding whether it’s the right option for you. Here’s everything you need to know about payday loans in Grace, Mississippi.

What Are Payday Loans?

Payday loans are short-term loans that allow borrowers to access small amounts of money quickly. The borrower writes a post-dated check or provides their bank account information as collateral for the loan. The lender then deposits the loan amount into the borrower’s account, and the loan is due on the borrower’s next payday.

Payday loans are typically used as a last resort by borrowers who do not have access to traditional credit or who need cash quickly for emergency expenses.

Payday Loan Regulations in Mississippi

In Mississippi, payday loans are legal. However, the state has regulations in place to protect borrowers from predatory lending practices. The maximum loan amount is $500, and the maximum finance charge is $20 per $100 borrowed. The loan term cannot exceed 30 days, and borrowers are not allowed to roll over their loans. Additionally, lenders cannot charge prepayment penalties or initiate criminal actions against borrowers who default on their loans.

The Pros of Payday Loans

  • Payday loans are easy to access. The application process is simple, and lenders typically provide same-day funding.
  • Payday loans can be used for any purpose. Unlike traditional loans, payday loans do not have restrictions on how the funds are used.
  • Payday loans do not require collateral. Borrowers do not need to provide any assets as collateral for the loan.

The Cons of Payday Loans

  • Payday loans have high-interest rates and fees. The finance charge on payday loans in Mississippi is $20 per $100 borrowed, which can add up quickly.
  • Payday loans can lead to a cycle of debt. Due to the short loan term and high fees, borrowers may find themselves in a cycle of borrowing and repaying payday loans.
  • Payday loans can be a risky financial option. Borrowers who are unable to repay their loans on time may face steep penalties and damage to their credit score.

Facts and Statistics about Payday Loans in Grace, Mississippi

  • In Mississippi, more consumers take out payday loans per capita than any other state in the U.S.
  • The average payday loan borrower in Mississippi takes out eight loans per year, with an average loan amount of $375.
  • Approximately 18% of households in Mississippi use payday loans as a means of credit.

It’s important to remember that payday loans should only be used as a last resort for emergency expenses. If you’re struggling with debt or need help managing your finances, there are resources available to you. Consider reaching out to a financial advisor or credit counseling service for guidance.

Apply Now

If you’ve weighed the pros and cons and have decided that a payday loan is right for you, TheGuaranteedLoans can help connect you with potential lenders. Remember, we are a connector service and not a direct lender. We work with a network of reputable lenders to help you find the loan that best fits your needs. To get started, fill out our online application today.

F.A.Q.

What are the requirements to qualify for a payday loan in Grace, Mississippi?

To qualify for a payday loan in Grace, Mississippi, you must be 18 years or older, have a valid ID and a verifiable source of income.

Do I need to have a bank account to get a payday loan in Grace, Mississippi?

Yes, you must have a valid checking or savings account to get a payday loan in Grace, Mississippi.