Payday Loans in New Melle, Missouri

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

Company nameAddressZip codePhone number
Jerry's Payday Loans 1700 S Campbell Ave, Springfield, MO 65807 +1 (417) 862 - 4723
First State Community Bank 406 N Perryville Blvd, Perryville, MO 63775 +1 (573) 547 - 5500
A & A Loans of Gainesville Gainesville, MO 65655 +1 (417) 679 - 0004
Anytime Cash Advance 11863 MO-13 #22, Kimberling City, MO 65686 +1 (417) 739 - 0330
Bank of America with Drive-thru ATM 800 E Cherry St, Columbia, MO 65201 +1 (573) 876 - 6260
Rags To Riches Pawn Shop 219 Center St, Hannibal, MO 63401 +1 (573) 248 - 8272
Direct Payday Loans 1883 N Bluff St, Fulton, MO 65251 +1 (877) 244 - 8254
World Finance Corporation 809 Thompson Blvd, Sedalia, MO 65301 +1 (660) 826 - 3135
Heights Finance Corporation 531 S Jefferson Ave, Lebanon, MO 65536 +1 (417) 533 - 7681
Missouri Loan Center 610 N Main St, Mountain Grove, MO 65711 +1 (417) 926 - 0806

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in New Melle, MO, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan for Columbia, MO, Quick Loan in Florissant, MO, Short-term Loans in Independence, MO, Payday Loans in Jefferson City, MO, Online Loans in Joplin, MO, Payday Loans in Kansas City, MO, Payday Loans in Lee's Summit, MO and Online Loans in Liberty, 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 New Melle, MO.

Beautiful sights of New Melle, MO

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

63365

Are Payday Loans Legal In New Melle, 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

New Melle, MO payday loan calculator

Payday Loans in New Melle, Missouri – The Basics

If you’re facing a financial emergency, such as a medical expense or car repair, and need cash fast, a payday loan may be a solution worth considering. However, it is important to make sure you understand the terms of a payday loan before signing up for one. In this article, we’ll explore payday loans in New Melle, Missouri, and what you need to know.

What are Payday Loans?

Payday loans are short-term loans that are typically due on your next payday. They are usually for amounts up to $500 and are intended to help individuals who need quick cash to cover unexpected expenses.

It is important to note that payday loans typically come with high interest rates and fees, making them a more expensive option than traditional loans. Additionally, payday loan terms may vary by state, so it is important to check the laws in your area before pursuing a payday loan.

Are Payday Loans Legal in Missouri?

Yes, payday loans are legal in Missouri. In fact, Missouri has some of the nation’s more lenient payday lending laws. Missouri law allows payday loans up to $500 and a maximum APR (Annual Percentage Rate) of 1,950 percent for a 14-day loan period.

However, the law requires payday lenders to follow certain regulations regarding interest rates, fees, and loan amounts. Additionally, Missouri law also limits the number of loans a borrower can take out in a certain period.

The Pros and Cons of Payday Loans

Before deciding if a payday loan is the right choice for you, it’s important to understand the advantages and disadvantages.

Pros:

  • Payday loans are typically easy to obtain with minimal paperwork
  • Money can often be received within 24 hours
  • Borrowers with poor credit may still be eligible for a payday loan

Cons:

  • The fees and interest rates attached to payday loans can often be much higher than traditional loans, making them a more expensive option.
  • Payday loans can lead to a cycle of debt if borrowers are not able to pay them back on time, which can result in more fees and interest charges.
  • Some payday lenders have been known to use aggressive collection tactics, which can create additional stress for borrowers.

The Payday Loan Process

The payday loan process is typically simple and straightforward. To obtain a payday loan, you must typically:

  1. Provide proof of income and a valid ID
  2. Write a post-dated, personal check for the loan amount plus fees
  3. Receive cash from the lender, typically on the same day the loan is approved
  4. Repay the loan and fees on the due date, typically within two weeks to a month

Interesting Facts and Statistics About Payday Loans in New Melle, Missouri

  • Missouri has more payday lenders than McDonald’s restaurants; the state has over 1,000 payday loan storefronts compared to just over 600 McDonald’s locations.
  • In Missouri, payday lenders are not required to consider a borrower’s ability to repay the loan before approving it.
  • According to the Missouri Department of Finance, the average payday loan in Missouri is $307.

Apply Now

If you have weighed the pros and cons and decide that a payday loan is right for you, TheGuaranteedLoans can help connect you with potential lenders. As a connector service, we work with a network of trusted lenders to find a loan that best fits your needs. To get started, simply fill out an online application on our website and we will work to find a lender who may be able to help you.

Remember, payday loans should be used only in emergency situations and should be paid back as soon as possible to avoid additional fees and interest charges. If you have any questions or concerns about payday loans, be sure to consult with a financial advisor or credit counselor.

F.A.Q.

Are there any alternatives to payday loans in New Melle, Missouri?

Yes, there are other options for short-term financial assistance, such as personal loans or credit cards. It is recommended to research and compare options before making a decision.

Are there any protections in place for borrowers in New Melle, Missouri?

Yes, the Missouri Division of Finance regulates the payday lending industry and provides consumer protections, such as limits on loan amounts and fees.