Payday Loans in Lena, Mississippi

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

Company nameAddressZip codePhone number
Cash Mart Inc 1900 Hardy St D, Hattiesburg, MS 39401 +1 (601) 544 - 5695
Fidelity National Loans 635 S Choctaw St, Clarksdale, MS 38614 +1 (662) 621 - 2305
Collins Title Loans 504 S Fir Ave, Collins, MS 39428 +1 (601) 765 - 3008
Money Store 584 Springridge Rd # A, Clinton, MS 39056 +1 (601) 924 - 7288
Hancock Whitney Bank 965 Columbia Ave, Prentiss, MS 39474 +1 (800) 448 - 8812
Community Choice Financial 7685 Hacks Cross Rd Suite 102, Olive Branch, MS 38654 +1 (662) 890 - 7891
Tower Loan 114 Commerce St, West Point, MS 39773
Payday Funding Inc 349 Mobile St, Saltillo, MS 38866 +1 (662) 869 - 3325
LoanMaster 100 S Gloster St, Tupelo, MS 38801 +1 (662) 842 - 3156
Check Now 3827 Bienville Blvd #4, Ocean Springs, MS 39564 +1 (228) 872 - 8688

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Lena, MS, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Biloxi, MS, Bad Credit Loans in Greenville, MS, Emergency Loan in Gulfport, MS, 24-Hour Loan in Hattiesburg, MS, Payday Loans in Jackson, MS, Payday Loan Companies in Meridian, MS, Payday Loans in Olive Branch, MS and Payday Loans in Southaven, 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 Lena, MS.

Payday Loans Available in Lena, MS By The Following ZIP Codes:

39094

Are Payday Loans Legal In Lena, 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

Lena, MS payday loan calculator

Payday Loans in Lena, Mississippi: A Comprehensive Guide

When an unexpected financial emergency arises, it can be challenging to come up with the funds to cover it. For many people in Lena, Mississippi, payday loans offer a lifeline when they need fast access to cash.

In this article, we’ll explore payday loans in Lena, Mississippi, including what they are, how they work, and the pros and cons of using them. We’ll also highlight some interesting facts and statistics about payday loans in the state. Finally, we’ll provide an overview of how TheGuaranteedLoans can help connect you with potential lenders in Lena, Mississippi.

What Are Payday Loans?

Payday loans are short-term loans designed to help people cover unexpected expenses. They typically have high-interest rates and fees and are meant to be repaid in full when the borrower receives their next paycheck. Applicants are usually required to provide proof of income and a valid ID.

In Mississippi, payday loans are legal, with a maximum amount of $500 and a repayment term of up to 30 days. Lenders are required to disclose all fees upfront, and the loan must be repaid in one lump sum (including interest and fees) on the due date.

How Do Payday Loans Work in Lena, Mississippi?

The process of getting a payday loan in Lena, Mississippi is relatively straightforward. The borrower fills out an application form and provides proof of income and identification. The lender then verifies the information and approves or denies the loan.

If the loan is approved, the borrower must sign a contract agreeing to the terms of the loan, including the repayment amount, due date, and interest and fees. The funds are usually disbursed through direct deposit into the borrower’s bank account, and the borrower is responsible for repaying the full amount (plus interest and fees) by the due date.

What Are the Pros and Cons of Payday Loans?

  • Pros:
    • Fast access to cash when you need it most.
    • Easier to qualify for than traditional loans.
    • No collateral required.
    • Can be used for any purpose.
  • Cons:
    • High-interest rates and fees, making them a costly borrowing option.
    • Short repayment terms can lead to missed payments and a cycle of debt.
    • Lenders may engage in predatory practices.
    • Not a long-term solution for financial difficulties.

Interesting Facts and Statistics about Payday Loans in Lena, Mississippi

  • The average payday loan in Mississippi has an annual interest rate of 521%, with an average APR of 572% for a 14-day loan.
  • In Mississippi, 25% of payday borrowers take out more than 10 payday loans per year.
  • The Mississippi Center for Justice reports that 58% of payday loan borrowers have trouble meeting monthly expenses, and 79% live paycheck to paycheck.
  • As of 2016, Mississippi had more payday lenders per capita than any other state in the U.S.

Apply Now for a Payday Loan in Lena, Mississippi

If you need fast access to cash in Lena, Mississippi, consider applying for a payday loan with TheGuaranteedLoans. We connect borrowers with potential lenders, making it easy to find a lender that fits your unique needs.

It’s important to note that we are a connector service, not a direct lender. Our goal is to match you with potential lenders and provide you with the information you need to make an informed decision.

To apply for a payday loan in Lena, Mississippi, fill out our easy online application form. We’ll review your information and connect you with potential lenders in your area. Once you receive a loan offer, you can choose to accept or decline it. If you accept the offer, the funds will be disbursed to your account, usually within one business day.

In Conclusion

Payday loans in Lena, Mississippi can be a helpful option for those needing fast access to cash. However, they come with high-interest rates and fees and should only be used in emergencies and with caution.

By understanding the pros and cons of payday loans, as well as the regulations and options available to you, you can make an informed borrowing decision.

F.A.Q.

Are there any restrictions on how I can use the funds from a payday loan in Lena, Mississippi?

Payday lenders in Lena, Mississippi may place restrictions on how you can use the funds from a payday loan. For example, the funds may need to be used for a specific purpose, such as paying bills or covering unexpected expenses.

Can I get a payday loan if I am receiving social security or disability benefits in Lena, Mississippi?

Yes, you may be able to get a payday loan if you are receiving social security or disability benefits in Lena, Mississippi. However, the lender may require additional documentation to verify your income and ability to repay the loan.