Payday Loans in Black, Missouri

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

Company nameAddressZip codePhone number
Keller's Payday Loans 602 N Franklin St, Cuba, MO 65453 +1 (573) 885 - 2400
Sun Loan Company 296 Old Hwy 21, Pilot Knob, MO 63663 +1 (573) 546 - 5001
Ozarks Cash Advance 216 N Massey Blvd, Nixa, MO 65714 +1 (417) 724 - 9100
Sun Loan Company 800 S Truman Blvd, Festus, MO 63028 +1 (636) 937 - 0040
Check Into Cash 864 E Hwy 60, Suite B, Monett, MO 65708 +1 (417) 354 - 0869
Bank of Advance 25201 Walnut St, Bell City, MO 63735 +1 (573) 733 - 4341
Keeling Financial Services 180 Davis Dr, Bolivar, MO 65613 +1 (417) 326 - 4460
ATM Citizens Bank 19 S Orange St, Butler, MO 64730 +1 (800) 627 - 3999
Southeast Economic Development Fund, Inc 5 Municipal Dr, Park Hills, MO 63601 +1 (573) 431 - 4296
Farmers Bank of Northern Missouri 3601 Miller St 2722, Bethany, MO 64424 +1 (660) 425 - 2261

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Black, MO, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Cape Girardeau, MO, Payday Loans in Chesterfield, MO, Payday Loans in Columbia, MO, Payday Loan Without a Credit Check in Florissant, MO, Payday Loans in Independence, MO, Payday Loans in Jefferson City, MO, Online Loans in Joplin, MO and Payday Loans in Kansas City, 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 Black, MO.

Are Payday Loans Legal In Black, 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

Black, MO payday loan calculator

What You Need to Know About Payday Loans in Black, Missouri

Payday loans are a popular financial product for those struggling with unexpected expenses or cash flow issues. These loans are designed to provide a quick fix to a short-term problem, with repayment typically due on the borrower’s next payday. While payday loans can be a useful tool when used responsibly, it’s crucial to understand the terms and implications before taking one out.

Legal Considerations of Payday Loans in Missouri

In Missouri, payday loans are legal and regulated by state law. This means that all lenders must be licensed and authorized to operate within the state, and all loans must comply with certain guidelines. The maximum loan amount allowed in Missouri is $500, and the loan term must be between 14 and 31 days. Lenders are allowed to charge up to 75% of the loan amount in interest and fees, but cannot charge more than $75 in fees per loan.

It’s important to note that Missouri law does not limit the number of loans a borrower can take out at one time, nor does it require a cooling-off period between loans. However, lenders must provide a written agreement outlining all terms and fees before the loan is disbursed. Borrowers have the right to rescind the loan within one business day of signing the agreement, without incurring any fees.

Benefits of Payday Loans

One of the most significant benefits of payday loans is their accessibility. Unlike traditional loans, which may require extensive credit checks and collateral, payday loans are often available to anyone with a job and a bank account. This makes them a popular choice for those with poor or no credit history.

Payday loans are also a quick solution to a temporary financial problem. Because they are designed to be repaid quickly, borrowers don’t have to worry about carrying a long-term debt burden. Additionally, many lenders offer online applications and same-day disbursement, allowing borrowers to get the funds they need quickly and easily.

Risks of Payday Loans

Despite their benefits, payday loans also come with significant risks. The high interest rates and fees associated with these loans can quickly turn a small loan into a large debt. Borrowers who are unable to repay the loan on time may find themselves stuck in a cycle of debt, taking out new loans to cover the fees and interest on previous loans.

Additionally, because payday loans are often marketed to those with poor credit, they may be seen as a last resort for those who are struggling financially. This can exacerbate financial problems by creating a reliance on short-term loans and making it difficult to save money or build long-term financial stability.

Interesting Facts and Statistics about Payday Loans in Black, Missouri

  • In 2018, there were approximately 1,200 payday loan storefronts operating in Missouri.
  • The average payday loan in Missouri is $315, with an average interest rate of 462%.
  • Missouri has the highest concentration of payday lenders per capita in the United States.
  • Nearly 70% of payday loan borrowers in Missouri use the funds for recurring expenses, such as rent or utilities.

Apply Now

Looking for a payday loan in Black, Missouri? TheGuaranteedLoans can help connect you with potential lenders who may be able to provide the funds you need. Remember, we are a connector service and not a direct lender, so we cannot guarantee approval or loan terms. However, we do our best to provide a safe and secure way to apply for a payday loan online with ease.

Fill out our online application today to get started. With fast, simple applications and same-day disbursement, we make it easy to get the funds you need quickly and easily.

F.A.Q.

Can I file a complaint if I have a problem with a payday lender in Black, Missouri?

Yes, you can file a complaint with the Missouri Division of Finance.

Is there any support or assistance available for borrowers struggling to repay payday loans in Black, Missouri?

Yes, the Missouri Division of Finance offers resources and guidance for borrowers who are struggling with payday loan debt. Additionally, there are non-profit organizations and credit counseling services that offer assistance with debt management.