Payday Loans in Mount Olive, Mississippi

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

Company nameAddressZip codePhone number
Money Tyme Payday Loans 315 S Gloster St B, Tupelo, MS 38801 +1 (662) 260 - 5168
Cash Money LLC 200 Scanlan St, Newton, MS 39345 +1 (601) 683 - 0896
Community Choice Financial 28063 MS-28 Ste A, Hazlehurst, MS 39083 +1 (601) 894 - 4092
Tower Loan 506 Schwem Ave, Brookhaven, MS 39601 +1 (601) 833 - 7090
Statewide FCU 809 W Sunflower Rd, Cleveland, MS 38732 +1 (601) 420 - 5535
Approved Cash 803 Memorial Blvd Suite B Ste b, Picayune, MS 39466 +1 (601) 798 - 9026
Extra Installment Loans 1355 Boling St 302, Jackson, MS 39209 +1 (601) 202 - 4152
Cash Inc 2803 Market St # A, Pascagoula, MS 39567 +1 (228) 769 - 6268
Check Depot 60387 Cotton Gin Port Rd, Amory, MS 38821 +1 (662) 257 - 0800
Check Advance 1036 Goodman Rd E, Southaven, MS 38671 +1 (662) 536 - 1930

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Mount Olive, MS, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Biloxi, MS, Payday Loans in Greenville, MS, Payday Loan Without a Credit Check in Gulfport, MS, Payday Loans in Hattiesburg, MS, Payday Loan Without a Credit Check in Jackson, MS, Payday Loans in Meridian, MS, Same Day 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 Mount Olive, MS.

Beautiful sights of Mount Olive, MS

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

39119

Are Payday Loans Legal In Mount Olive, 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

Mount Olive, MS payday loan calculator

Payday Loans in Mount Olive, Mississippi: What You Need to Know

If you live in Mount Olive, Mississippi, and find yourself in a financial bind, a payday loan may be a solution for you. Payday loans are a short-term lending option that can provide quick access to cash. However, before you apply for a payday loan in Mount Olive, it is important to understand the process and the laws governing these loans.

How do payday loans work?

Payday loans are intended to provide a quick source of cash to individuals who need it urgently. The loans are usually repaid on the borrower’s next payday. To apply for a payday loan, you will need to provide proof of income, age, and residency. The lender will use this information to determine how much you can borrow and at what interest rate.

When you are approved for a payday loan, the funds will be deposited into your bank account. You will be required to pay back the loan, plus interest and fees, on your next payday. Failure to repay the loan on time can result in additional fees and charges.

What are the laws governing payday loans in Mount Olive, Mississippi?

Payday loans are legal in the state of Mississippi, including Mount Olive. However, there are certain regulations that lenders must follow. The interest rate on payday loans in Mississippi is capped at 521% APR. Additionally, lenders are required to be licensed through the Mississippi Department of Banking and Consumer Finance.

Borrowers are limited to one payday loan at a time, and the loan term cannot exceed 30 days. Lenders are permitted to charge a finance fee of up to 22% of the loan amount, plus a verification fee of up to $5.00 per loan. The borrower has the right to cancel the loan within one business day without incurring any charges or penalties.

The Pros and Cons of Payday Loans

While payday loans can provide quick access to cash, they are not without risks. Here are some pros and cons to consider:

Pros:

  • Quick access to cash when you need it
  • No credit check required
  • Simplified application process

Cons:

  • High-interest rates and fees
  • Short repayment terms
  • May lead to a debt cycle

Facts and Statistics About Payday Loans in Mount Olive, Mississippi

  • As of 2019, there were 1,033 payday lenders operating in Mississippi.
  • In 2020, the average payday loan amount in Mississippi was $375.85.
  • According to the Center for Responsible Lending, the average interest rate on a payday loan in Mississippi is 599% APR.
  • 57% of payday loan borrowers in Mississippi are female.
  • Payday loan borrowers in Mississippi typically have an average annual income of $25,000 or less.

Apply Now

If you find yourself in need of a payday loan in Mount Olive, Mississippi, TheGuaranteedLoans can help. We connect borrowers with potential lenders, making it easier to find the right loan for your needs. Our streamlined application process is fast and easy, and you could have access to the cash you need in as little as one business day.

Remember, payday loans are intended as a short-term solution. You should only borrow what you can afford to repay, and you should have a plan in place to pay back the loan on time. If you have any questions or concerns, our customer service team is here to help. Apply now to get started!

F.A.Q.

Are there any regulations on how many payday loans a borrower can take out in Mount Olive, Mississippi?

Yes, there are regulations on how many payday loans a borrower can take out in Mount Olive, Mississippi. A borrower is limited to a maximum of $500 in outstanding payday loans at any given time.

Are there any restrictions on the fees and charges associated with payday loans in Mount Olive, Mississippi?

Yes, there are restrictions on the fees and charges associated with payday loans in Mount Olive, Mississippi. The maximum finance charge is $21.95 per $100 borrowed, and the maximum total charge is $56.95 per $100 borrowed.