Payday Loans in Galt, Missouri

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

Company nameAddressZip codePhone number
First State Community Bank 114 Independence Ave, Kennett, MO 63857 +1 (573) 888 - 4571
Advance America - Closed 2015 Jefferson St 10, Perryville, MO 63775 +1 (573) 547 - 4801
LendNation 212A Market St, Fulton, MO 65251 +1 (573) 642 - 7641
Planet Cash 2660 N Hwy 67, Florissant, MO 63033 +1 (314) 831 - 8644
Pay Day Today LLC 531 Benham St, Bonne Terre, MO 63628 +1 (573) 358 - 1122
Missouri Loan Center 610 N Main St, Mountain Grove, MO 65711 +1 (417) 926 - 0806
Advance America 15521 Manchester Rd, Ballwin, MO 63011 +1 (636) 527 - 1837
Master Finance Company 1950 S Glenstone Ave Ste K, Springfield, MO 65804 +1 (417) 886 - 7007
Mike Joyner Fairway Independent Mortgage Corporation Branch Manager 101 N Maguire St Suite B, Warrensburg, MO 64093 +1 (660) 262 - 3170
Proacct Financial Services 910 N Bluff St, Fulton, MO 65251 +1 (573) 642 - 1800

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Galt, MO, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Ballwin, MO, Payday Loans in Blue Springs, MO, Same Day Loans in Cape Girardeau, MO, Payday Loan for Chesterfield, MO, Payday Loans in Columbia, MO, 24-Hour Loan in Florissant, MO, Payday Loans in Independence, MO and Payday Loan Companies in Jefferson 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 Galt, MO.

Beautiful sights of Galt, MO

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

64641

Are Payday Loans Legal In Galt, 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

Galt, MO payday loan calculator

Understanding Payday Loans in Galt, Missouri

Payday loans are a type of short-term loan taken out by individuals who need quick access to cash. These loans typically come with high-interest rates and fees, making them a controversial financial product. However, they remain popular among many Missourians who are struggling to make ends meet.

The Legal Status of Payday Loans in Missouri

Missouri is one of the few states in the US where payday loans are legal. This means that lenders can offer payday loans to residents of Missouri, and borrowers can legally take out these loans without fear of legal repercussions.

However, the state has introduced a number of regulations to help protect consumers from predatory lending practices. While these regulations have helped to make payday loans in Missouri safer, it is still important to understand the risks associated with these loans.

How Payday Loans Work in Galt, Missouri

Payday loans in Galt, Missouri work in much the same way as they do in other states. A borrower takes out a short-term loan and agrees to repay it on their next payday. The loan amount, including interest and fees, is automatically withdrawn from the borrower’s bank account on the due date.

The maximum loan amount in Missouri is $500, and borrowers can typically take out loans for up to 31 days. Lenders are allowed to charge up to 75% of the loan amount in interest and fees, which can make these loans very expensive.

The Risks of Payday Loans in Galt, Missouri

While payday loans can provide quick access to cash, they also come with significant risks. First and foremost, the high interest rates and fees can make it very difficult for borrowers to repay the loan on time. This can lead to a cycle of debt where the borrower must take out another loan to pay off the first one.

Additionally, payday lenders are often accused of predatory lending practices. These lenders may target low-income individuals or those with poor credit scores, knowing that they are more likely to need quick access to cash. Borrowers should always read the terms and conditions of a payday loan carefully and consider alternative options before taking out a loan.

Interesting Facts and Statistics

  • The average payday loan in Missouri is $309, and the average borrower takes out a loan for 17 days.
  • The maximum annual percentage rate (APR) for a payday loan in Missouri is 1,950%.
  • In 2019, Missouri payday lenders made more than 1.2 million loans, totaling $527 million in loan volume.
  • Approximately 230 payday loan stores operate in Missouri.

Apply Now

If you are considering a payday loan in Galt, Missouri, it is important to understand the risks and to consider alternative options. TheGuaranteedLoans can help connect you with reputable lenders who can provide safe and affordable loans.

As a connector service, TheGuaranteedLoans is not a direct lender and does not provide loans ourselves. Instead, we work with a network of lenders to connect borrowers with the best loan options for their needs. To apply for a loan, simply fill out our online application form and we will help match you with a lender.

F.A.Q.

Can I apply for a payday loan online in Galt, Missouri?

Yes, many payday lenders in Galt, Missouri offer online application and approval processes.

Are there any restrictions on how payday loan funds can be used?

No, payday loan funds can be used for any purpose, as determined by the borrower.