Payday Loans in Cleveland, Missouri

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

Company nameAddressZip codePhone number
Central Bank 1920 Legends W Ave, Boonville, MO 65233 +1 (660) 882 - 2724
U.S. Bank Branch 615 N Maguire St, Warrensburg, MO 64093 +1 (660) 747 - 7141
Advance America 3548 S Campbell Ave, Springfield, MO 65807 +1 (417) 890 - 7624
Caldwell County Abstract & Title Co., LLC 101 W Bird St, Hamilton, MO 64644 +1 (816) 583 - 2500
Video Plaza 201 N Main St, Butler, MO 64730 +1 (660) 679 - 4200
E Z Loans 1454 Kearney Rd, Excelsior Springs, MO 64024 +1 (816) 630 - 8305
World Finance Corporation 2020 S Main St, Higginsville, MO 64037 +1 (660) 584 - 3888
U.S. Bank Branch 17896 Highway 67 S, Neelyville, MO 63954 +1 (573) 989 - 3253
King of Kash 610 Walton Dr, Farmington, MO 63640 +1 (573) 705 - 7125
CheckSmart 702 NW Hwy 7, Blue Springs, MO 64015 +1 (816) 229 - 5888

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Cleveland, MO, you can try to find different companies in big cities near by. Check out the following pages here: Short-term Loans in Springfield, MO, Payday Loans in Wentzville, MO, Payday Loans in Ballwin, MO, Payday Loans in Blue Springs, MO, Bad Credit Loans in Cape Girardeau, MO, Online Loans in Chesterfield, MO, Payday Loans in Columbia, MO and Same Day Loans in Florissant, 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 Cleveland, MO.

Beautiful sights of Cleveland, MO

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

64734

Are Payday Loans Legal In Cleveland, 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

Cleveland, MO payday loan calculator

In certain situations, getting a payday loan can be a viable solution to an immediate financial need, such as an unexpected expense or overdue bill. If you’re living in Cleveland, Missouri, you’ll be glad to know that payday loans are perfectly legal in the state, subject to certain regulations and guidelines.

What is a Payday Loan?

A payday loan, also known as a cash advance loan, is a short-term loan that borrowers typically use to cover their immediate expenses. In most cases, borrowers take out payday loans to make ends meet until their next paycheck arrives. These loans are usually of small amounts, with a maximum of $500 allowed in Missouri.

How Do Payday Loans Work?

Payday loans are relatively straightforward to understand. A borrower receives the loan amount, which is typically a percentage of their next paycheck, and the loan is then repaid when the borrower receives their next paycheck. The exact terms of the loan agreement will depend on the lender’s policies, the borrower’s income, and the specific state regulations in place.

The Pros and Cons of Payday Loans

As with any loan, payday loans have both benefits and drawbacks. One of the primary advantages of payday loans is that they can be relatively easy to obtain, with minimal credit checks and no collateral requirements. Additionally, payday loans typically have a fast approval process, and the funds can be available to borrowers within a day or two.

One of the key disadvantages of payday loans is that they can come with high interest rates and fees. In Missouri, the maximum interest rate allowed by law is 75%, which can result in a very high APR (Annual Percentage Rate) when compounded over time. Additionally, if a borrower is unable to repay the loan on time, they may incur additional late fees and even damage to their credit.

The Payday Loan Process in Cleveland, Missouri

If you’re interested in obtaining a payday loan in Cleveland, Missouri, it’s essential to become familiar with the regulations and guidelines specific to Missouri state law. Here’s a step-by-step guide on how to get a payday loan in Cleveland, Missouri:

  • Step 1: Find a reputable payday lender that operates in Missouri, such as through TheGuaranteedLoans network.
  • Step 2: Review the terms and conditions of the loan and ensure you understand the interest rates, fees, and repayment terms, as well as any penalties for late payments or non-payment.
  • Step 3: Submit your application for the loan and wait for approval. Missouri law requires lenders to verify the borrower’s income, employment status, and other relevant information before approving a loan.
  • Step 4: If approved, you’ll receive the loan funds, usually via electronic transfer to your bank account.
  • Step 5: Repay the loan according to the agreed-upon terms.

Interesting facts and Statistics about Payday Loans in Cleveland, Missouri

  • In Missouri, payday lenders are required by law to follow strict guidelines and regulations to protect borrowers.
  • Missouri law limits loan amounts to $500 or less.
  • The maximum interest rate allowed by law in Missouri is 75%.
  • Payday lenders in Missouri cannot require borrowers to secure their loans with collateral, such as a car or home.
  • Missouri law requires payday lenders to disclose all fees and interest charges, as well as the total cost of the loan.

Apply Now

If you’re interested in obtaining a payday loan in Cleveland, Missouri, let TheGuaranteedLoans help you find a lender. We connect borrowers with reputable lenders that operate in Missouri and abide by state regulations and guidelines.

Fill out our online application today, and receive approval within minutes. Remember, TheGuaranteedLoans is a connector service, not a direct lender, and we will facilitate your connection with potential lenders.

F.A.Q.

Can I renew or extend my payday loan?

No, payday loans in Cleveland, Missouri cannot be renewed or extended.

Are there any fees associated with payday loans in Cleveland, Missouri?

Yes, payday lenders in Cleveland, Missouri are allowed to charge a maximum interest rate of 75% per year on the loan amount. There may also be additional fees for late or non-payment.