Payday Loans in Powersite, Missouri

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

Company nameAddressZip codePhone number
F & C Bank 541 E Young Ave, Warrensburg, MO 64093 +1 (660) 747 - 5559
Great Southern Bank 1 Viburnum Center, Viburnum, MO 65566 +1 (573) 244 - 5453
The Loan Spot 3861 W Outer Rd, Arnold, MO 63010 +1 (636) 282 - 5626
Ozark Federal Credit Union Business, 1117 US-60, Dexter, MO 63841 +1 (573) 624 - 8864
Tower Loan 310 N Main St, De Soto, MO 63020 +1 (636) 586 - 6813
Cash-N-Go Westgate Shopping Center, 100 S Bishop, Butler, MO 64730 +1 (660) 200 - 2274
Cash Biz 509 Huck Finn Shopping Ctr, Hannibal, MO 63401 +1 (573) 248 - 2156
Exchange Bank of Missouri 101 S Church St, Fayette, MO 65248 +1 (660) 248 - 3388
Barnhart Finance Services Inc 1463 S Sam Houston Blvd, Houston, MO 65483 +1 (417) 967 - 4700
American Payday Loans 3609 S Noland Rd, Independence, MO 64055 +1 (816) 833 - 1644

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Powersite, 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, Payday Loans in Saint Joseph, MO, Payday Loans in Saint Louis, MO, Payday Loans in Saint Peters, MO, Payday Loan Companies in Springfield, MO, Payday Loans in Wentzville, MO, Payday Loans in Ballwin, MO and Emergency Loan 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 Powersite, MO.

Are Payday Loans Legal In Powersite, 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

Powersite, MO payday loan calculator

Exploring Payday Loans in Powersite, Missouri

If you live in the state of Missouri, you may be considering taking out a payday loan. But before you do so, it’s important to understand the advantages and disadvantages of this short-term, high-interest loan. While payday loans can provide a quick solution for temporary financial issues, they can also lead to a cycle of debt that can be difficult to escape.

What is a Payday Loan?

A payday loan is a small, short-term, high-interest loan that is typically due on your next payday. The amount you can borrow is usually limited to a few hundred dollars, and the repayment period is typically two weeks or less.

The loans are often used for emergency expenses, such as car repairs or medical bills, or to cover living expenses between paychecks. However, the interest rates on payday loans can be significantly higher than other types of loans, making them expensive if not paid off on time.

Payday Loans in Powersite, Missouri

In Missouri, payday loans are legal and regulated by the state. This means that lenders must be licensed and adhere to certain rules and regulations. For example, the maximum amount you can borrow is $500, and the term of the loan cannot exceed 31 days.

Interest rates are also regulated, with lenders allowed to charge up to 75% of the loan amount in interest and fees. This means that if you borrow $100, you could end up paying up to $175 in total.

The Pros and Cons of Payday Loans

Before taking out a payday loan, it’s important to consider both the advantages and disadvantages.

Advantages:

  • Quick access to cash: Payday loans are often available within 24 hours.
  • No credit check: Payday lenders typically don’t check your credit score, so you can still get a loan even if you have poor credit.
  • No collateral: You don’t need to put up any collateral to secure a payday loan.

Disadvantages:

  • High-interest rates: Payday loans can have interest rates as high as 75% of the loan amount.
  • Short repayment period: You have to repay the loan in full within a few weeks, which can be difficult if you’re already struggling with finances.
  • Cycle of debt: If you can’t repay the loan on time, you may be tempted to take out another loan to cover it, leading to a cycle of debt that can be difficult to escape.

Interesting Facts and Statistics About Payday Loans in Powersite, Missouri

  • Payday loans are legal in 32 states, with Missouri being one of them.
  • In Missouri, the average payday loan amount is $315.
  • According to a study by Pew Charitable Trusts, the average payday borrower takes out eight loans per year and spends $520 on interest alone.
  • Missouri has more payday loan storefronts than McDonald’s, with over 1,000 locations throughout the state.

Apply Now

Do you need a payday loan in Powersite, Missouri? TheGuaranteedLoans can help connect you with potential lenders. Simply fill out our online application, and we’ll match you with lenders who may be able to offer you the cash you need. Remember, TheGuaranteedLoans is a connector service, not a direct lender, so you’ll need to work with the lender directly to complete the loan process.

When applying for a payday loan, it’s important to read the terms and conditions carefully and make sure you can afford to repay the loan on time. With careful consideration and responsible borrowing, a payday loan can be a helpful solution for temporary financial issues.

F.A.Q.

Can I take out a payday loan if I am receiving unemployment benefits?

Yes, as long as you have a steady source of income, you may be eligible for a payday loan.

Are there any alternatives to payday loans in Powersite, Missouri?

Yes, there are other options for short-term financial assistance, such as personal loans from banks or credit unions, or borrowing from friends or family.