Payday Loans in Morehouse, Missouri

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

Company nameAddressZip codePhone number
Check Into Cash 2917 W Broadway Blvd, Sedalia, MO 65301 +1 (660) 829 - 2633
World Finance 126 Corum Rd, Excelsior Springs, MO 64024 +1 (816) 637 - 2324
Advance America 11205 E US Highway 24, Independence, MO 64054 +1 (816) 252 - 1410
Check Into Cash 555 S Jefferson Ave, Lebanon, MO 65536 +1 (417) 532 - 9379
First Home Savings Bank 7164 State Hwy 14, Sparta, MO 65753 +1 (417) 634 - 6000
Payday Money Store 900 East 23rd St S, Independence, MO 64055 +1 (816) 461 - 3121
Academy Bank 908 Walton Way, Richmond, MO 64085 +1 (816) 470 - 3080
First Community Bank 125 Financial Dr, Hollister, MO 65672 +1 (417) 332 - 2265
Quick Cash of Missouri 3799 Ridgedale Rd, Ridgedale, MO 65739 +1 (417) 334 - 9083
Simmons Bank 519 W Hubble Dr, Marshfield, MO 65706 +1 (417) 885 - 0402

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Morehouse, MO, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Saint Charles, MO, Same Day Loans in Saint Joseph, MO, Short-term Loans in Saint Louis, MO, Payday Loans in Saint Peters, MO, Payday Loans in Springfield, MO, Payday Loans in Wentzville, MO, 24-Hour Loan in Ballwin, MO and Guaranteed Loans in Blue Springs, 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 Morehouse, MO.

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

63868

Are Payday Loans Legal In Morehouse, 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

Morehouse, MO payday loan calculator

Understanding Payday Loans in Morehouse, Missouri

Payday loans are a common form of short-term borrowing that can give borrowers quick access to cash when they need it most. These loans are often used to cover unexpected expenses or to bridge the gap between paychecks. In Morehouse, Missouri, payday loans are legal, but it is important to understand the benefits and risks of this type of borrowing before taking out a loan.

How Do Payday Loans Work?

A payday loan is typically a small-dollar loan, usually between $100 and $500, with a short repayment period of usually 2-4 weeks. The loan is repaid in full, including interest and fees, on the borrower’s next payday. The borrower provides the lender with a post-dated check or electronic access to their bank account for repayment.

When the loan is due, the lender deposits the borrower’s check or withdraws the payment from their bank account. If the borrower is unable to repay the loan, they may be able to roll over the loan by paying additional fees to extend the repayment period.

Benefits of Payday Loans

  • Quick access to cash when it is needed most.
  • No collateral is required.
  • Borrowers with bad credit or no credit history can still qualify.
  • The application process is simple and quick, with most lenders offering online applications.

Risks of Payday Loans

  • High interest rates and fees. Payday loans are often more expensive than other forms of borrowing, with interest rates that can range from 300% to 500% APR.
  • Short repayment periods can make it difficult to repay the loan on time, leading to additional fees and charges.
  • Rolling over the loan can lead to a cycle of debt, with additional fees and charges adding up over time.
  • Debt collectors may contact borrowers who are unable to repay the loan, leading to additional stress and financial hardship.

Interesting Facts and Statistics about Payday Loans in Morehouse, Missouri

  • Morehouse, Missouri has a population of approximately 930 people.
  • According to a study from the St. Louis Federal Reserve, Missouri has one of the highest payday loan usage rates in the country.
  • The average payday loan in Missouri is $307, with an average finance charge of $53 and an average APR of 462%.

Apply Now

TheGuaranteedLoans is a connector service that can help you find potential lenders for payday loans in Morehouse, Missouri. Our online application process is simple and quick, and we work with a network of reputable lenders to help you find the loan that best fits your needs.

Remember, payday loans are a form of short-term borrowing and should only be used for emergency expenses. Be sure to read the terms and conditions carefully and borrow only what you can afford to repay.

F.A.Q.

Are there any protections for borrowers in Morehouse, Missouri when it comes to payday loans?

Yes, the state of Missouri has several laws in place to protect borrowers from predatory lending practices. These laws include limits on interest rates, fees, and loan terms, as well as requirements for lenders to provide borrowers with clear information about the terms of their loans.

What are the eligibility requirements for payday loans in Morehouse, Missouri?

To be eligible for a payday loan in Morehouse, Missouri, you must be 18 years or older and have a regular source of income.