Payday Loans in Bates City, Missouri

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No payday loan companies in Bates City, MO. Consider companies in other cities:

Company nameAddressZip codePhone number
Service 1 Federal Credit Union 25368 State Hwy 39, Shell Knob, MO 65747 +1 (844) 858 - 2500
Signature Loans & More 1850 Rte C C, Jefferson City, MO 65109 +1 (573) 634 - 3057
Missouri Loan Center 801 S Sam Houston Blvd, Houston, MO 65483 +1 (417) 967 - 2274
A Plus Cash Advance 32 Camden Ct, Camdenton, MO 65020 +1 (573) 317 - 9119
St Clair County State Bank 404 E 3rd St, Lowry City, MO 64763 +1 (417) 644 - 2213
Wells Fargo Advisors 2820 Bagnell Dam Blvd, Lake Ozark, MO 65049 +1 (573) 348 - 2322
Central Bank 410 Market St, Fulton, MO 65251 +1 (573) 642 - 6618
Advance America 505-D N. Maguire Street, Warrensburg, MO 64093 +1 (660) 422 - 6951
World Finance 3607 Broadway Blvd, Kansas City, MO 64111 +1 (816) 800 - 7502
Country Club Bank, Harrisonville- South 1601 S Commercial St, Harrisonville, MO 64701 +1 (816) 884 - 2020

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Bates City, MO, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Columbia, MO, Payday Loan Companies in Florissant, MO, Payday Loans in Independence, MO, Payday Loans in Jefferson City, MO, Same Day Loans in Joplin, MO, Payday Loans in Kansas City, MO, Payday Loans in Lee's Summit, MO and Bad Credit Loans in Liberty, MO. 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 Bates City, MO.

Beautiful sights of Bates City, MO

Payday Loans Available in Bates City, MO By The Following ZIP Codes:

64011

Are Payday Loans Legal In Bates City, Missouri?

Loan Rates and Fees, Laws and Regulations in Missouri.

Missouri Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)443
Maximum Loan Amount$500 or less
Minimum Loan Term14 days
Maximum Loan Term31 days
Number of Rollovers Allowed6
Finance ChargesNo interest and fees in excess of 75% of the initial loan amount on any single loan

Bates City, MO payday loan calculator

Understanding Payday Loans in Bates City, Missouri

Payday loans are a type of short-term loan that is designed to help individuals bridge financial gaps until their next paycheck. These loans are often used to cover unexpected expenses such as medical bills, car repairs, and other emergencies. They are also an option for those who have poor credit and may not be eligible for a traditional bank loan.

Legal Status of Payday Loans in Missouri

Payday loans are legal in Missouri, but there are specific regulations that lenders must follow. The maximum loan amount is $500, and borrowers cannot take out more than one loan at a time. Lenders are also required to provide a written agreement outlining the terms and conditions of the loan, including the interest rate and any fees.

How Payday Loans Work

Payday loans are typically short-term loans with a repayment period of two weeks to one month. To apply for a payday loan, borrowers must provide proof of income, a valid ID, and a checking account. The lender will then determine the loan amount and interest rate based on the borrower’s income and credit history.

Once approved, the borrower will receive the loan amount in their checking account. On the due date, the lender will automatically withdraw the loan amount plus interest and fees from the borrower’s checking account. It is important to note that failing to repay the loan on time can lead to additional fees and a lower credit score.

The Pros and Cons of Payday Loans

Before considering a payday loan, it is important to weigh the advantages and disadvantages of this type of borrowing.

The Pros:

  • Easy access to cash: Payday loans are a quick and convenient way to access cash in an emergency.
  • No credit check: Unlike traditional bank loans, payday lenders do not require a credit check, making them accessible to those with poor credit.
  • No collateral required: Borrowers do not need to provide collateral, such as a car or house, to secure a payday loan.

The Cons:

  • High interest rates: Payday loans often have high interest rates, which can make them difficult to repay in a timely manner.
  • Short repayment period: Payday loans must be repaid in a short period of time, which can be difficult for those living paycheck to paycheck.
  • Potential for debt cycle: Failing to repay a payday loan on time can lead to additional fees and interest, which can trap borrowers in a cycle of debt.

Interesting Facts and Statistics

  • In Missouri, the average payday loan is $307 with an average APR of 450%.
  • In 2019, Missouri borrowers took out over 1.6 million payday loans.
  • 50% of payday loan borrowers in Missouri took out at least seven loans in one year.

Apply Now

Are you considering a payday loan in Bates City, Missouri? TheGuaranteedLoans can help connect you with potential lenders. Fill out our online application today to get started. Remember, TheGuaranteedLoans is a connector service, not a direct lender. We work to facilitate connections between borrowers and lenders, and we do not make lending decisions or provide loans directly.

F.A.Q.

Can I take out a payday loan if I am receiving unemployment benefits?

Yes, as long as you have a steady source of income, you may be eligible for a payday loan.

Are there any alternatives to payday loans in Bates City, Missouri?

Yes, there are other options for short-term financial assistance, such as personal loans from banks or credit unions, or borrowing from friends or family.