Payday Loans in Mayhew, Mississippi

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

Company nameAddressZip codePhone number
Express Check Advance 1741 Virginia Ln Suite 600, Corinth, MS 38834 +1 (662) 286 - 3789
Jackson Hewitt Tax Service 220 Veterans Memorial Dr, Kosciusko, MS 39090 +1 (662) 258 - 7100
1st Franklin Financial 210 Collonade Plaza, Senatobia, MS 38668 +1 (662) 560 - 1975
Check Exchange of Vicksburg 3115 Halls Ferry Rd A, Vicksburg, MS 39180 +1 (601) 629 - 9535
Tower Loan 290 W Oxford St C, Pontotoc, MS 38863 +1 (662) 489 - 7887
Walmart Money Center 1110 Battleground Dr, Iuka, MS 38852
Money Matters Title Loans 7047 Commerce Dr, Olive Branch, MS 38654 +1 (662) 893 - 8448
Cadence Bank - West Point Main Branch 657 Commerce St, West Point, MS 39773 +1 (662) 494 - 5284
Check Into Cash 615 N 16th Ave, Laurel, MS 39440 +1 (601) 428 - 6088
Money Zone USA 4, 2221 Old Hwy 61 N, Tunica, MS 38676 +1 (662) 363 - 9559

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Mayhew, MS, you can try to find different companies in big cities near by. Check out the following pages here: Quick Loan in Biloxi, MS, No Credit Check Loans in Greenville, MS, Payday Loans in Gulfport, MS, Payday Loans in Hattiesburg, MS, Online Loans in Jackson, MS, No Credit Check Loans in Meridian, MS, 24-Hour Loan 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 Mayhew, MS.

Are Payday Loans Legal In Mayhew, 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

Mayhew, MS payday loan calculator

Payday Loans in Mayhew, Mississippi: A Comprehensive Overview

Payday loans are a popular form of short-term lending that offer quick and easy access to cash for individuals in need of financial assistance. These loans are especially helpful for those with unexpected expenses or emergencies that require immediate cash. In Mayhew, Mississippi, payday loans are legal and readily available to those who meet certain qualifications. In this article, we’ll provide a comprehensive overview of payday loans in Mayhew, Mississippi, including regulations, borrowing requirements, fees, and more.

The Basics of Payday Loans

Payday loans are typically small loans that are meant to be repaid quickly, usually within two to four weeks. These loans are unsecured, meaning they do not require collateral such as a car or a home. Instead, payday loan lenders rely on a borrower’s income and credit history to determine eligibility and loan amount.

Regulations for Payday Loans in Mayhew, Mississippi

In Mayhew, Mississippi, payday loans are legal and regulated by state and federal laws. According to Mississippi law, a maximum loan amount of $500 is allowed, and lenders are allowed to charge up to $20 per $100 borrowed. Borrowers must be at least 18 years old and have a steady source of income. Additionally, lenders are required to provide a borrower with a written agreement outlining the terms of the loan, including the fees and interest rate, before the borrower signs anything.

Qualifications for Obtaining a Payday Loan in Mayhew, Mississippi

There are several qualifications that a borrower must meet in order to obtain a payday loan in Mayhew, Mississippi. First and foremost, a borrower must be at least 18 years old and have a steady source of income. This income can come from employment, government benefits, or other sources. Additionally, a borrower must have a valid form of identification, such as a driver’s license, and an active checking account in their name.

The Application Process for Payday Loans

The application process for a payday loan in Mayhew, Mississippi is quite simple. A borrower will need to provide basic personal information, such as their name, address, and contact information, as well as details about their employment and income. Additionally, the borrower will need to provide their bank account information so that the funds can be deposited directly into their account. Once the application is complete, the lender will review the information provided and determine whether or not the borrower is eligible for a loan.

The Fees and Interest Rates for Payday Loans in Mayhew, Mississippi

As previously mentioned, lenders in Mayhew, Mississippi are allowed to charge up to $20 per $100 borrowed. This means that if a borrower takes out a payday loan for $500, they can expect to pay $100 in fees. It’s important to note that these fees are in addition to the interest rate that the lender will charge. Typically, a payday loan in Mayhew, Mississippi will have an interest rate of anywhere between 200% and 400%. It’s critical that borrowers understand the fees and interest rates associated with payday loans before agreeing to any terms.

Repayment of Payday Loans in Mayhew, Mississippi

Payday loans in Mayhew, Mississippi must be repaid in full by the borrower’s next payday. This typically means that the borrower will need to submit payment within two to four weeks of taking out the loan. It’s important that borrowers budget accordingly to ensure that they will be able to make their loan payment on time. Some lenders may offer repayment plans or extensions, but this will typically come with additional fees and interest rates.

Interesting Facts and Statistics about Payday Loans in Mayhew, Mississippi

  • In Mayhew, Mississippi, the average payday loan amount is $375.
  • Mississippi has the highest concentration of payday lenders per capita in the United States.
  • Approximately 18% of Mississippi residents have taken out a payday loan at some point in their lives.

Apply Now for a Payday Loan in Mayhew, Mississippi

If you’re in need of a payday loan in Mayhew, Mississippi, TheGuaranteedLoans can help. As a connector service, we work with a network of trusted lenders to connect borrowers with potential loan offers. To get started, simply fill out our online application with your basic information. If you’re approved for a loan, you can expect to receive your funds within one business day. Apply now and take the first step towards financial stability.

F.A.Q.

What is the maximum amount I can borrow through a payday loan in Mayhew, Mississippi?

The maximum amount you can borrow varies by lender and is typically determined by your income and ability to repay the loan.

Do I need to provide collateral to get a payday loan in Mayhew, Mississippi?

No, payday loans are typically unsecured and do not require collateral.