Payday Loans in Miami, Missouri

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

Company nameAddressZip codePhone number
ACA 11132 Blue Ridge Blvd, Kansas City, MO 64134 +1 (816) 763 - 8570
ABC Payday Loans 131 Main St, Troy, MO 63379 +1 (636) 462 - 8828
Regional Finance 113 N Westwood Blvd, Poplar Bluff, MO 63901 +1 (573) 300 - 4092
Empire Finance 121 S Broadview St #8, Cape Girardeau, MO 63703 +1 (573) 651 - 6576
United States Postal Service 110 W Opp St, Rock Port, MO 64482 +1 (800) 275 - 8777
Heights Finance Corporation 1315 US-24, Moberly, MO 65270 +1 (660) 263 - 9213
TitleMax Title Secured Loans 300 US-69, Kansas City, MO 64119 +1 (816) 595 - 0930
Security Finance 200 E 20th St a, Mountain Grove, MO 65711 +1 (417) 926 - 0728
TitleMax Title Loans 342 S 291 Hwy, Suite A, Liberty, MO 64068 +1 (816) 883 - 2654
Domain Corporation 15455 Conway Rd, Chesterfield, MO 63017 +1 (636) 532 - 9454

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Miami, 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 Loan Without a Credit Check in Blue Springs, MO, Payday Loans in Cape Girardeau, MO, 24-Hour Loan in Chesterfield, MO, Same Day Loans in Columbia, MO, Payday Loans in Florissant, MO, Payday Loans in Independence, MO and Payday Loan Without a Credit Check 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 Miami, MO.

Beautiful sights of Miami, MO

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

65344

Are Payday Loans Legal In Miami, 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

Miami, MO payday loan calculator

Payday Loans in Miami, Missouri – A Comprehensive Guide

When unexpected expenses pop up before your next paycheck, a payday loan can seem like a helpful solution. These loans provide borrowers with fast and easy access to cash, which they can use to cover their expenses. Payday loans are short-term loans with high-interest rates that are meant to be repaid on your next payday.

In Miami, Missouri, payday loans are legal, with the state implementing specific regulations to protect both the borrower and the lender. We’ll discuss the regulations and everything you need to know about payday loans in Miami, Missouri, in this comprehensive guide.

How do Payday Loans Work in Miami, Missouri?

Payday loans are typically short-term loans that require no collateral, unlike secured loans. This means that the lender is taking on more risk, and they compensate for it by charging high-interest rates.

In Miami, Missouri, lenders can provide borrowers with a loan of up to $500. The term of the loan must not exceed 31 days, and the lender cannot charge more than 75% of the loan’s principal amount in interest and fees.

To get a payday loan in Miami, Missouri, you must be at least 18 years old and have a steady source of income. You must show proof of income, a government-issued ID, and a checking account where the loan can be deposited.

The Pros and Cons of Payday Loans

Payday loans can be helpful for those in urgent need of cash. However, it’s important to weigh the pros and cons before deciding to take out a payday loan.

Pros:

  • Quick and easy access to money
  • No credit check required
  • May be a viable option for those with bad credit
  • Can help pay for unexpected expenses

Cons:

  • High-interest rates
  • Additional fees, such as origination and late payment fees
  • May lead to a cycle of debt
  • May result in damage to credit score

The high-interest rates are the main reason payday loans are criticized. In some cases, the interest rates can be as high as 400% APR, which can lead to a cycle of debt where borrowers take out additional loans to cover previous loans.

The Regulations for Payday Loans in Miami, Missouri

In Missouri, payday loans are regulated by the Missouri Division of Finance. Lenders must comply with the following regulations:

  • The maximum loan amount is $500
  • The loan term must not exceed 31 days
  • The lender cannot charge more than 75% of the loan’s principal amount in interest and fees

Borrowers can request an extended payment plan if they are unable to repay their loan on time. The plan must give borrowers a minimum of 90-days to repay the loan in installments, with no additional cost.

How to Apply for a Payday Loan with TheGuaranteedLoans

TheGuaranteedLoans offer borrowers a convenient way to connect with potential lenders, making the application process fast and straightforward. Simply fill out our online application form, and we’ll connect you with a suitable lender based on your needs and requirements.

It’s essential to note that TheGuaranteedLoans is not a direct lender. Our goal is to help you connect with potential lenders and facilitate the application process. Once you receive your loan, you’ll deal directly with the lender.

Interesting Facts and Statistics about Payday Loans in Miami, Missouri

  • Approximately 2,500 licensed payday lenders operate in Missouri.
  • Missouri has one of the highest payday loan rates in the United States, with an average interest rate of 445%.
  • In 2018, the Missouri Attorney General’s office received 2,430 complaints from consumers regarding payday loans.

The Bottom Line

Payday loans can be useful for those in urgent need of cash. However, it’s essential to weigh the pros and cons and understand the regulations before committing to a loan. Remember always to read the terms and conditions carefully and ensure you can repay the loan on time. Applying for a payday loan through TheGuaranteedLoans can be a convenient and straightforward process to help you connect with potential lenders.

Apply Now

Are you in need of a payday loan in Miami, Missouri? Apply now through TheGuaranteedLoans and let us help you connect with potential lenders.

F.A.Q.

What are payday loans and how do they work in Miami, Missouri?

Payday loans are short-term, high-interest loans that are designed to be paid back on the borrower's next payday. in Miami, Missouri, borrowers are allowed to borrow up to $500, with a maximum term of 31 days.

Are there any restrictions on payday loan interest rates in Miami, Missouri?

Yes, payday lenders are required to follow the state's usury laws, which limit the maximum interest rate to 75% per year. However, additional fees may be charged on top of the interest rate.