Payday Loans in Silver City, Mississippi

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

Company nameAddressZip codePhone number
Cash City 220 W Main St, Senatobia, MS 38668 +1 (662) 301 - 2990
Advantage Financial Services - Starkville 448 Highway 12 W, Suite #6, Starkville, MS 39759 +1 (662) 323 - 1100
Tower Loan 801 U.S. 49 Frontage Rd b, Richland, MS 39218 +1 (601) 939 - 7002
Advance America 2525 Highway 90 Ste 1, Gautier, MS 39553 +1 (228) 497 - 6654
Dorman Finances Inc 1201 22nd Ave STE B, Meridian, MS 39301 +1 (601) 693 - 8000
Community Choice Financial 1217 S Frontage Rd a1, Meridian, MS 39301 +1 (601) 693 - 0006
Trustmark 140 Main St, Liberty, MS 39645 +1 (601) 657 - 8031
Hope Credit Union 106 E Main St, Utica, MS 39175 +1 (601) 991 - 3336
National Cash Advance 1565 Hwy. 1 South, Greenville, MS 38701 +1 (662) 378 - 8660
Tower Loan 909 Robinson St c, Waynesboro, MS 39367 +1 (601) 735 - 6063

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Silver City, 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, Guaranteed Loans in Gulfport, MS, Payday Loans in Hattiesburg, MS, Quick Loan in Jackson, MS, Payday Loans in Meridian, MS, Payday Loans in Olive Branch, MS, Payday Loan for 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 Silver City, MS.

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

39166

Are Payday Loans Legal In Silver City, 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

Silver City, MS payday loan calculator

Payday Loans in Silver City, Mississippi – A Comprehensive Guide

Are you in need of quick financial assistance to pay for unexpected expenses? Payday loans may seem like an attractive option to consider in Silver City, Mississippi. However, it’s important to understand their terms, regulations, and potential risks before applying. In this guide, we’ll provide you with all the necessary information to make an informed decision about payday loans in Silver City, Mississippi.

What are Payday Loans?

Payday loans are short-term loans that typically range from $100 to $500. They are designed for individuals who need immediate financial assistance, but can’t obtain traditional loans due to poor credit scores or lack of collateral. Payday loans require the borrower to repay the loan amount, plus fees and interest, by their next paycheck.

Legal Regulations in Mississippi

In Mississippi, payday loans are legal, and there is no maximum loan amount. The maximum loan term is 30 days, and lenders can charge up to 22% of the loan amount in fees. However, borrowers should be aware that the annual percentage rate (APR) can reach up to 572%, making payday loans a potentially expensive option.

The Application Process

Applying for a payday loan in Silver City, Mississippi is a straightforward process. Borrowers can apply in-person at a lender’s location or online. The application typically requires the borrower’s personal and financial information, as well as proof of income and employment.

Lenders in Mississippi are required to disclose all loan terms and fees upfront, including the APR, finance charge, and repayment terms. Borrowers should review the terms carefully before accepting the loan offer.

Risks and Alternatives

While payday loans can provide quick financial assistance, they come with potential risks. Borrowers may fall into a cycle of debt if they are unable to repay the loan on time, leading to additional fees and interest charges. Additionally, payday loans can have a negative impact on credit scores.

Before applying for a payday loan in Silver City, Mississippi, borrowers should consider alternatives, such as personal loans, credit cards, or seeking assistance from family or friends. These options may offer more favorable terms and lower interest rates.

Interesting Facts and Statistics

  • In Mississippi, the average payday loan amount is $427, with an average finance charge of $54.93.
  • In 2019, Mississippi had the highest concentration of payday loan storefronts per capita in the United States.
  • According to a survey by the Mississippi Center for Justice, 55% of payday loan borrowers in Mississippi are women, and 73% earn less than $30,000 per year.

Apply Now

If you’ve weighed the risks and benefits and have decided to apply for a payday loan in Silver City, Mississippi, TheGuaranteedLoans can help connect you with potential lenders. We are a connector service, not a direct lender, and we work with a network of trusted lenders to help you find the loan that meets your needs. Fill out our online application to get started today.

Remember: payday loans are a short-term solution to immediate financial needs, and borrowers should carefully consider all their options before applying. Always borrow responsibly and repay the loan on time to avoid additional fees and charges.

F.A.Q.

What happens if I am unable to repay my payday loan in Silver City, Mississippi?

If you are unable to repay your payday loan in Silver City, Mississippi, the lender may take legal action to collect the debt. This may include wage garnishment or a lawsuit. It is important to communicate with your lender and try to come to a repayment plan if you are unable to make your payment.

Can I apply for a payday loan online in Silver City, Mississippi?

Yes, you can apply for a payday loan online in Silver City, Mississippi. Many lenders offer online applications and the process is usually faster and more convenient than applying in person.