Payday Loans in Galena, Missouri

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

Company nameAddressZip codePhone number
Raymond James 1320 N Kingshighway St, Cape Girardeau, MO 63701 +1 (573) 334 - 9460
Check Into Cash 2927 W Broadway Blvd, Sedalia, MO 65301 +1 (660) 829 - 2633
Jason Reynolds - Ameriprise Financial Services, LLC 2012 Cherry Hill Dr 202a, Columbia, MO 65203 +1 (573) 443 - 5001
Equity Bank 1919 MO-13, Higginsville, MO 64037 +1 (660) 584 - 2500
Speedy Cash 1331 E 63rd St, Kansas City, MO 64110 +1 (816) 363 - 2274
Check Into Cash 1305 S Main St, Sikeston, MO 63801 +1 (573) 471 - 3340
Community Bank of Marshall 208 N Main St, Blackburn, MO 65321 +1 (660) 538 - 4301
Great Southern Bank 705 N Business Hwy 60, Mansfield, MO 65704 +1 (417) 924 - 3286
Advance America 2419 S Campbell Ave, Springfield, MO 65807 +1 (417) 823 - 8211
Quick Cash of Missouri 3799 Ridgedale Rd, Ridgedale, MO 65739 +1 (417) 334 - 9083

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Galena, MO, you can try to find different companies in big cities near by. Check out the following pages here: Short-term Loans in Cape Girardeau, MO, Short-term Loans in Chesterfield, MO, Payday Loan Without a Credit Check in Columbia, MO, Emergency Loan in Florissant, MO, Payday Loans in Independence, MO, Payday Loans in Jefferson City, MO, Same Day 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 Galena, MO.

Beautiful sights of Galena, MO

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

65656

Are Payday Loans Legal In Galena, 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

Galena, MO payday loan calculator

Payday Loans in Galena: A Guide to Understanding Missouri’s Loan Regulations

Payday loans, also known as cash advances, are a popular way for people in need of quick cash to get the money they need to cover unexpected expenses. These types of loans typically have shorter terms and are meant to be repaid within weeks or months. However, Missouri residents need to be aware of state regulations surrounding payday loans before deciding to take one out. In this guide, we’ll explore the regulations in Galena, Missouri, and what you need to know before applying for a payday loan in the state.

What is a Payday Loan?

A payday loan is a type of short-term loan that is intended to help people pay for unexpected expenses such as car repairs or medical bills. These loans are typically meant to be repaid within a few weeks or months and can be obtained quickly and easily without requiring collateral. The borrower is expected to repay the loan in full, plus interest, on the due date. However, in many cases, borrowers are unable to repay the full amount and may need to renew or roll over the loan, resulting in additional fees and interest.

How Do Payday Loans Work in Galena, Missouri?

Payday loans are legal in Missouri, but there are several regulations in place to protect borrowers. Missouri law allows lenders to charge up to 75% of the original loan amount in fees and interest. For example, if you borrow $500, the lender can charge up to $375 in fees and interest. The loan term cannot be less than 14 days or more than 31 days. Additionally, borrowers are only allowed to take out one loan at a time, and lenders are required to provide a written agreement outlining the terms and conditions of the loan.

Benefits of Payday Loans in Galena, Missouri

Despite the strict regulations surrounding payday loans in Missouri, there are still some benefits to taking out one of these loans. For example, payday loans can provide quick cash when you need it most, allowing you to cover unexpected expenses without having to wait for your next paycheck. Additionally, payday loans can be an alternative to other types of loans that require collateral, such as a car or home equity loan.

Drawbacks of Payday Loans in Galena, Missouri

While payday loans can provide quick cash when you need it, there are also some drawbacks to consider. The high interest rates and fees associated with these loans can result in significant debt if you’re unable to repay the loan in full on the due date. Additionally, many payday lenders target low-income individuals and those with poor credit, which can lead to a cycle of debt and financial instability.

Interesting Facts and Statistics about Payday Loans in Galena, Missouri

  • In 2015, Missouri borrowers took out an estimated 1.62 million payday loans
  • Missouri payday lenders can legally charge up to 1,950% APR
  • Missouri ranks 7th in the United States for highest payday loan usage
  • Payday loan borrowers in Missouri typically take out an average of eight loans per year

Apply Now

If you’re in need of quick cash to cover unexpected expenses, TheGuaranteedLoans can help connect you with lenders offering payday loans in Galena, Missouri. Our online application process is quick and easy, and we work with a large network of lenders to increase your chances of getting approved. Please note that TheGuaranteedLoans is a connector service and not a direct lender. We will facilitate your connection with potential lenders and help you find the best option for your needs.

Conclusion

Payday loans in Galena, Missouri, can provide quick cash when you need it most, but it’s important to understand the regulations and risks associated with these loans before deciding to take one out. Remember to only borrow what you can afford to repay, and consider other options, such as a personal loan or asking for help from family and friends, before turning to a payday loan. If you do decide to take out a payday loan, be sure to work with a reputable lender and read the terms and conditions carefully.

F.A.Q.

Are there any limits on the amount that can be borrowed?

Yes, in Galena, Missouri the maximum amount that can be borrowed is $500.

How long do I have to repay the loan?

Payday loans in Galena, Missouri must be repaid within 14-31 days.