Payday Loans in Commerce, Missouri

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

Company nameAddressZip codePhone number
Central Bank 1110 E Independence St, Republic, MO 65738 +1 (417) 732 - 8065
Proctor & Associates, LLC 1212 S Main St, Maryville, MO 64468 +1 (660) 562 - 2400
Tower Loan 310 N Main St, De Soto, MO 63020 +1 (636) 586 - 6813
LendNation 5441 Osage Beach Pkwy, Osage Beach, MO 65065 +1 (573) 348 - 1777
First Community National Bank 407 N Franklin St, Cuba, MO 65453 +1 (573) 885 - 3500
Hawthorn Bank 1400 E Ohio St, Clinton, MO 64735 +1 (660) 885 - 2241
World Finance Corporation 2020 S Main St, Higginsville, MO 64037 +1 (660) 584 - 3888
Jason Reynolds - Ameriprise Financial Services, LLC 2012 Cherry Hill Dr 202a, Columbia, MO 65203 +1 (573) 443 - 5001
Eleven Point River Title Co 304 E Walnut St, Thayer, MO 65791 +1 (417) 264 - 7118
Title Loans 4 Less 230 E North Ave #A, Belton, MO 64012 +1 (816) 322 - 1322

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Commerce, MO, you can try to find different companies in big cities near by. Check out the following pages here: Same Day Loans in Independence, MO, Payday Loans in Jefferson City, MO, Payday Loan Without a Credit Check in Joplin, MO, Short-term Loans in Kansas City, MO, Payday Loan for Lee's Summit, MO, Payday Loans in Liberty, MO, Payday Loans in Saint Charles, MO and Payday Loan for Saint Joseph, 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 Commerce, MO.

Beautiful sights of Commerce, MO

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

63742

Are Payday Loans Legal In Commerce, 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

Commerce, MO payday loan calculator

Payday Loans in Commerce, Missouri: A Comprehensive Guide

Payday loans offer a quick and easy solution for individuals in need of emergency cash. While they are easily accessible, it’s important to understand the terms and regulations surrounding the payday loan industry to make informed decisions about borrowing. In this guide, we’ll discuss everything you need to know about payday loans in Commerce, Missouri.

What are Payday Loans?

Payday loans are short-term loans usually offered for small amounts (typically $500 or less) that are due on the borrower’s next payday, usually within 14 to 30 days. They are meant to provide a quick and easy solution for those with an unexpected expense or cash shortfall.

Payday loans come with high interest rates and fees, making them an expensive form of borrowing. Despite this, they remain popular because they are easily accessible and require minimal paperwork and credit checks.

Missouri Regulation of Payday Loans

While payday loans are legal in Missouri, the state has regulations in place to protect borrowers. According to Missouri state law, lenders can charge up to 75% in interest and fees on the initial loan and up to 25% on the loans that follow. The state also limits the amount borrowers can take out to $500 and restricts the term of the loan to no more than 31 days.

Missouri law requires lenders to disclose all fees and interest rates upfront and prohibits them from charging additional fees for loan refinance or extension.

Applying for a Payday Loan in Commerce, Missouri

If you’re looking to apply for a payday loan in Commerce, Missouri, there are some basic requirements you’ll need to meet. You must be at least 18 years old and have a steady source of income, such as a job, pension, or disability benefits. You’ll also need a checking account in good standing and government-issued identification.

To apply for a payday loan, you can visit a lender in person or apply online. Be sure to read the terms and conditions carefully and understand the fees and interest rates associated with the loan before signing any agreements.

Risks and Alternatives to Payday Loans

While payday loans can be a useful tool for those in need of quick cash, they come with significant risks. The high-interest rates and fees can trap borrowers in a cycle of debt that is difficult to break free from. Borrowers who fail to repay on time can accumulate additional fees and damage their credit scores.

If you’re considering a payday loan, it’s important to explore all your options first. These might include borrowing from friends or family, negotiating with creditors, or seeking assistance from a nonprofit credit counseling agency.

Interesting Facts and Statistics about Payday Loans in Commerce, Missouri

  • The average payday loan amount in Missouri is $305.
  • Missouri has more than 1,000 payday loan stores.
  • According to a survey by the Missouri Division of Finance, 80% of payday loan borrowers took out multiple loans over the course of a year, and 25% of borrowers took out 10 or more loans.

Apply Now

If you’re in need of emergency cash, TheGuaranteedLoans can help connect you with payday lenders in Commerce, Missouri. Fill out our online application today and get matched with potential lenders. Remember to read and understand the terms and conditions before agreeing to any loans.

As a lending connector service, TheGuaranteedLoans is not a direct lender. We work with a network of trusted lenders to help borrowers find the best possible loan options.

In Conclusion

Payday lenders provide a quick and easy solution for those in need of emergency cash. While they can be useful, it’s important to understand the terms and regulations surrounding the payday loan industry to make informed borrowing decisions. Remember to always read the terms and conditions, explore your options, and borrow responsibly.

F.A.Q.

Can I be arrested for not paying back a payday loan in Commerce, Missouri?

No, it is not legal for a lender to threaten or pursue criminal action for non-payment of a payday loan in Commerce, Missouri.

How do I apply for a payday loan in Commerce, Missouri?

You can apply for a payday loan in Commerce, Missouri by visiting a lender's storefront or website and filling out an application form.