Payday Loans in Montreal, Missouri

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

Company nameAddressZip codePhone number
BTC Bank 2302 Main St, Boonville, MO 65233 +1 (660) 882 - 3132
Advance America 1915 W Jesse James Rd, Excelsior Springs, MO 64024 +1 (816) 637 - 3270
Peoples Community Bank 1001 MO-34, Marble Hill, MO 63764 +1 (573) 238 - 0100
Peoples Bank of Altenburg 8492 Main St, Altenburg, MO 63732 +1 (573) 824 - 5221
Pay Less Rentals & Sales 1601 Clemon Dr Ste. B, Neosho, MO 64850 +1 (417) 451 - 9180
Simmons Bank 14 Public Square, Stockton, MO 65785 +1 (417) 875 - 6701
World Finance Corporation 706 W Mt Vernon St, Nixa, MO 65714 +1 (417) 725 - 3530
Sure Finance 1716 W 9th St 5, Sedalia, MO 65301 +1 (660) 829 - 1122
World Finance Corporation 331 S Springfield Ave, Bolivar, MO 65613 +1 (417) 777 - 3111
Cash Depot Payday Loans 2054 Walton Dr, Jackson, MO 63755 +1 (573) 204 - 0701

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Montreal, MO, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Joplin, MO, No Credit Check Loans in Kansas City, MO, Payday Loans in Lee's Summit, MO, Payday Loans in Liberty, MO, Short-term Loans in Saint Charles, MO, Payday Loans in Saint Joseph, MO, Payday Loans in Saint Louis, MO and Quick Loan in Saint Peters, 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 Montreal, MO.

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

65591

Are Payday Loans Legal In Montreal, 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

Montreal, MO payday loan calculator

Payday Loans in Montreal, Missouri: Your Ultimate Guide

Payday loans have become a popular option for people who need quick cash. These loans are typically small, short-term loans that are borrowed against the borrower’s next paycheck. In Missouri, payday loans are legal, but they are also heavily regulated to protect consumers.

In this article, we’re going to take a closer look at payday loans in Montreal, Missouri. We’ll cover everything from how payday loans work to the regulations that govern them. By the end of this article, you’ll have a better understanding of payday loans and whether they’re the right option for you.

How Do Payday Loans Work?

Payday loans are a type of short-term loan that is borrowed against the borrower’s next paycheck. These loans are typically small, ranging from $50 to $1,000. They are designed to be repaid within a few weeks, usually on the borrower’s next payday.

When a borrower applies for a payday loan, they will need to provide proof of income and a bank account. Once the lender approves the loan, the money will be deposited directly into the borrower’s bank account. The borrower will then need to repay the loan, plus any interest and fees, when their next paycheck arrives.

It’s important to note that payday loans can be expensive. In Missouri, lenders are allowed to charge up to 75% of the loan amount in interest and fees. This means that if you borrow $100, you may need to repay as much as $175.

Regulations Governing Payday Loans in Montreal, Missouri

As we mentioned earlier, payday loans in Missouri are legal, but they are heavily regulated to protect consumers. Here are a few of the key regulations that you should be aware of:

Loan Amounts and Repayment Terms

In Missouri, lenders are limited to lending no more than $500 in a single loan. Additionally, borrowers cannot have more than one loan at a time. Loans must be repaid within 14 to 31 days, depending on the length of the borrower’s pay cycle.

Interest and Fees

Lenders in Missouri can charge up to 75% of the loan amount in interest and fees. This means that if you borrow $100, you may need to repay as much as $175. Additionally, lenders are prohibited from charging more than $75 in interest and fees for every $100 borrowed.

Repayment Plans

If a borrower is unable to repay their loan on time, they can request a repayment plan from their lender. The repayment plan allows the borrower to repay the loan over a longer period of time, usually in four equal installments. However, lenders are only required to offer a repayment plan once per year per borrower.

Interesting Statistics About Payday Loans in Montreal, Missouri

  • According to the Missouri Division of Finance, there were 2,040 licensed payday lenders operating in the state as of October 2021.
  • The average payday loan borrower takes out eight loans per year.
  • In Missouri, the average payday loan is $307 and carries an average interest rate of 458%.

Is a Payday Loan Right for You?

Payday loans can be a good option for people who need quick cash and have no other options. However, they can also be expensive, and borrowers may find themselves in a cycle of debt if they’re unable to repay their loan on time.

If you’re considering a payday loan, it’s important to carefully weigh your options and consider the costs. You should also make sure that you’re borrowing from a reputable lender and that you understand the terms of your loan.

Apply Now

If you’re in need of a payday loan in Montreal, Missouri, TheGuaranteedLoans can help. We’re a connector service that can help you connect with potential lenders who may be able to offer you a loan. Simply fill out our online application and we’ll match you with a lender who may be able to help.

Remember, TheGuaranteedLoans is not a direct lender, and we do not make credit decisions. We simply facilitate your connection with potential lenders. If you’re approved for a loan, you’ll be working directly with the lender to finalize your loan terms and repayment plan.

Conclusion

Payday loans can be a helpful option for people who need quick cash, but they can also be expensive. If you’re considering a payday loan, it’s important to carefully weigh your options and consider the costs. You should also make sure that you’re borrowing from a reputable lender and that you understand the terms of your loan.

F.A.Q.

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

If you cannot repay your payday loan on time in Montreal, 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 Montreal, Missouri?

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