Payday Loans in Defiance, Missouri

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

Company nameAddressZip codePhone number
Loans Plus 11660 MO-72, Rolla, MO 65401 +1 (573) 364 - 1440
Tower Loan 846 E Missouri 32, Lebanon, MO 65536 +1 (417) 532 - 4805
A-1 Premium Acceptance Ballwin, MO 63011 +1 (636) 527 - 0322
TitleMax Title Secured Loans 215 W Karsch Blvd, Farmington, MO 63640 +1 (573) 701 - 0629
U.S. Bank Branch 214 S Spring St, Hermitage, MO 65668 +1 (417) 745 - 6401
Express Lending Source 1222 Missouri Ave, West Plains, MO 65775 +1 (417) 256 - 9885
ABC Cash Advance 107 Aldersgate Dr # 10, Nixa, MO 65714 +1 (417) 725 - 5115
John Brison, Movement Mortgage 303 N Stadium Blvd 2nd floor, Columbia, MO 65203 +1 (573) 234 - 5530
Advance America 671 W Karsch Rd, Farmington, MO 63640 +1 (573) 747 - 1015
Bank of Crocker 214 S Commercial St, Crocker, MO 65452 +1 (573) 736 - 5600

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Defiance, MO, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Independence, MO, Payday Loans in Jefferson City, MO, Payday Loans in Joplin, MO, 24-Hour Loan in Kansas City, MO, Payday Loans in Lee's Summit, MO, Payday Loans in Liberty, MO, Payday Loans in Saint Charles, MO and 24-Hour Loan in 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 Defiance, MO.

Beautiful sights of Defiance, MO

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

63341

Are Payday Loans Legal In Defiance, 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

Defiance, MO payday loan calculator

Payday Loans in Defiance, Missouri

If you find yourself in a tight financial situation where you need quick cash to settle bills or pay for unexpected expenses in Defiance, Missouri, then a payday loan may be a viable option worth considering. Payday loans are short-term loans often used to meet immediate needs and are considered legal in Missouri. However, it’s important to understand what payday loans are, how they work, and the laws governing payday loans in Missouri before applying.

Understanding Payday Loans

A payday loan is a short-term loan that typically must be repaid when the borrower’s next paycheck arrives. The loan size is usually small, ranging from $100 to $1,500, depending on the state, and is used to cover immediate financial needs like car repairs, medical bills, or other emergency expenses. In Missouri, the maximum loan amount is $500, and the loan term can range from 14 to 31 days.

Payday loans are often easy to access and don’t require a credit check. The loans are also unsecured and are usually tied to the borrower’s income, which makes them particularly attractive for people who have poor credit ratings or are unable to get credit loans from traditional lenders.

The Pros of Payday Loans

  • Easy access to cash when you need it most.
  • Quick approval process – often within minutes of submitting an application.
  • Open to people with poor credit scores or no credit at all.
  • Payday loans are also regulated by the Missouri Division of Finance to protect borrowers from unscrupulous lenders.

The Cons of Payday Loans

  • High-interest rates – Missouri payday lenders can charge up to 75% interest on the original loan amount, and the APR can exceed 1,900%.
  • Short repayment period – Typically, payday loans must be repaid within a few weeks, which can be a challenge for borrowers who may already be struggling financially.
  • Can lead to a cycle of debt – Payday loans are often borrowed multiple times, leading to a vicious cycle of fees and interest payments that can be difficult to break.

The Legality of Payday Loans in Missouri

Payday loans are legal in Missouri under the Missouri Revised Statutes Section 408.500 et seq. However, lenders must adhere to specific guidelines. The maximum loan amount is $500, and the interest rate can’t exceed 75% of the loan amount. Additionally, lenders can only charge up to $75 for loan origination fees. Loan terms must be between 14 and 31 days, and the borrower can’t take out more than one loan at a time. Finally, the lender must provide the borrower with a document outlining the loan terms in advance.

Interesting Facts about Payday Loans in Defiance, Missouri

  • Within Missouri, payday loan companies outnumber McDonald’s locations
  • The average Missourian has taken out 6 payday loans a year
  • Over 2.1 million payday loans were issued in Missouri, generating over $1.2 billion in fees on an annual basis

Applying for a Payday Loan in Defiance, Missouri

If you’ve decided that a payday loan is right for you, then consider filling out an online application through TheGuaranteedLoans website. We’re not direct lenders, but we connect borrowers with potential lenders quickly and easily. By filling out an application, you can get connected to a lender in Defiance, Missouri who meets your needs, and is reputable and trustworthy. Our goal is to match you with an appropriate lender who can offer you fair terms and rates.

Final Thoughts

Payday loans can be a helpful resource for those who need quick cash to cover immediate expenses. However, they’re not a long-term financial solution and should be used with caution. As with any financial decision, it’s important to do your research and read the loan terms carefully before applying. By following these guidelines and working with reputable lenders, you can protect yourself and make informed decisions about your financial well-being.

F.A.Q.

What should I do if I cannot repay my payday loan on time in Defiance, Missouri?

If you cannot repay your payday loan on time in Defiance, Missouri, you should contact your lender immediately to discuss potential options, such as extending the repayment period or rolling the loan over into a new one.

Can I get a payday loan online in Defiance, Missouri?

Yes, many payday lenders in Defiance, Missouri offer the option to apply for a loan online.