Payday Loans in Newark, Missouri

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

Company nameAddressZip codePhone number
Ardmore Finance Corp. 1758 N New Florissant Rd, Florissant, MO 63033 +1 (314) 838 - 6464
TitleMax Title Secured Loans 300 US-69, Kansas City, MO 64119 +1 (816) 595 - 0930
Farm Credit Southeast Missouri 791 MO-105, Charleston, MO 63834 +1 (573) 649 - 4110
Security Finance 772 E US-54 6, Camdenton, MO 65020 +1 (573) 346 - 6688
Eldon Missouri Money Store 218 S Mill St # B, Eldon, MO 65026 +1 (573) 392 - 6999
Community Bank & Trust 1102 Cherokee Ave, Seneca, MO 64865 +1 (417) 776 - 2221
World Finance Corporation 1610 Denmark Rd, Union, MO 63084 +1 (636) 583 - 9922
Regional Missouri Bank 601 1st St, Glasgow, MO 65254 +1 (660) 338 - 2236
The Bank of Missouri 233 W Jackson Blvd, Jackson, MO 63755 +1 (573) 243 - 9300
Blue Frog Loans 1855 Bowles Ave, Fenton, MO 63026 +1 (855) 258 - 3374

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Newark, MO, you can try to find different companies in big cities near by. Check out the following pages here: Short-term Loans in Saint Charles, MO, Payday Loans in Saint Joseph, MO, Quick Loan in Saint Louis, MO, Quick Loan in Saint Peters, MO, Quick Loan in Springfield, MO, 24-Hour Loan in Wentzville, MO, Payday Loans in Ballwin, MO and Payday Loan Without a Credit Check 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 Newark, MO.

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

63458

Are Payday Loans Legal In Newark, 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

Newark, MO payday loan calculator

Payday Loans in Newark, Missouri: Everything You Need to Know

Life is full of surprises, and sometimes these surprises come with a hefty price tag. Emergencies can happen at any time, and if you don’t have enough savings, it can be challenging to pay for them. This is where payday loans come in. In Missouri, payday loans are legal and can help you meet unexpected expenses.

What Are Payday Loans?

Payday loans are short-term loans that are usually due on your next payday. They are meant to help you meet emergency expenses, such as medical bills, car repairs, or rent. To take out a payday loan, you need to show proof of income and provide a post-dated check or authorization for the lender to withdraw the loan amount plus fees from your bank account on your next payday.

Payday loans don’t require a credit check, which makes them an attractive option for people with poor credit who can’t get a bank loan. However, payday loans come with high fees and interest rates, which can trap you in a cycle of debt if you can’t pay them back on time.

Payday Loans in Newark, Missouri

In Missouri, payday loans are legal, and there are many lenders to choose from, including online lenders and storefront lenders. The maximum loan amount allowed by the state is $500, and the maximum loan term is 31 days. Lenders can charge up to 75% in fees and interest, which can quickly add up if you don’t pay the loan back on time.

It’s essential to note that Missouri has laws in place to protect consumers from predatory lenders. These laws include:

  • A cap on the maximum loan amount and fees
  • A limit on the number of loans you can take out at once
  • A database to track payday loans to prevent borrowers from taking out multiple loans at once
  • A requirement for lenders to disclose the loan terms and fees in writing

Who Should Consider Payday Loans?

If you have an emergency expense and don’t have enough savings or credit to cover it, a payday loan can be a reasonable option. However, it’s essential to only take out a payday loan if you can afford to pay it back on time and in full. If you can’t, you risk falling into a cycle of debt and accruing more fees and interest.

It’s also important to consider other options before taking out a payday loan. These options include:

  • Borrowing from family or friends
  • Using a credit card if you have one with a lower interest rate
  • Applying for a personal loan from a bank or credit union
  • Asking for an advance on your paycheck from your employer

Apply Now

If you’ve decided that a payday loan is the best option for you, TheGuaranteedLoans can help. We are a connector service that can match you with potential lenders. Our application process is quick and easy, and you can apply from the comfort of your own home.

Remember, while payday loans can help you in a time of need, they come with high fees and interest rates. Make sure you can pay back the loan on time and in full to avoid falling into a cycle of debt.

Interesting Facts and Statistics About Payday Loans in Newark, Missouri

  • The average payday loan in Missouri is $308.
  • In Missouri, the average fee for a payday loan is 422%, which is one of the highest in the nation.
  • 75% of payday loan customers in Missouri take out multiple loans a year.
  • Around 2.34 million payday loans were taken out in Missouri in 2019, totaling $984 million.

These facts and statistics show how prevalent payday loans are in Missouri and how important it is to understand the risks involved before taking out a loan.

Conclusion

Payday loans can help you meet unexpected expenses in a time of need, but they come with high fees and interest rates. Make sure you can afford to pay back the loan in full and on time before taking out a payday loan.

Remember, TheGuaranteedLoans can help you connect with potential lenders and make the application process quick and easy. Apply today and get the help you need.

F.A.Q.

Can I have multiple payday loans at the same time in Newark, Missouri?

No, Missouri law prohibits borrowers from having more than one payday loan at a time. Borrowers must pay off their current payday loan before taking out another one.

Are there any restrictions on how many payday loans a borrower can take out in Newark, Missouri?

Yes, borrowers in Newark, Missouri are limited to a maximum of four payday loans per year.