Payday Loans in Redford, Missouri

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

Company nameAddressZip codePhone number
Providence Bank 4001 State Hwy 47, Winfield, MO 63389 +1 (636) 668 - 6600
World Finance 450 Cumberland Way Ste H, Sullivan, MO 63080 +1 (573) 202 - 6460
Citizens Bank & Trust 816 Main St, Trenton, MO 64683 +1 (660) 359 - 2232
Putnam County State Bank 1522 Main St, Unionville, MO 63565 +1 (660) 947 - 2477
Mariner Finance 20130 E Jackson Dr, Independence, MO 64057 +1 (816) 299 - 4588
United Credit Union - Vandalia 210 W Washington St, Vandalia, MO 63382 +1 (573) 594 - 6103
Great Western Bank 2228 Main St, Unionville, MO 63565 +1 (660) 947 - 4000
Empire Finance of Sikeston 822 S Main St, Sikeston, MO 63801 +1 (573) 481 - 1154
Central Bank 1110 E Independence St, Republic, MO 65738 +1 (417) 732 - 8065
ACE Cash Express 679 Jeffco Blvd, Arnold, MO 63010 +1 (636) 296 - 3331

Payday Loan Companies in Nearby Cities

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

Are Payday Loans Legal In Redford, 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

Redford, MO payday loan calculator

Understanding Payday Loans in Redford, Missouri

In Missouri, payday loans are a popular form of short-term lending that can help individuals in times of financial need. These loans typically range in value from $50 up to $500 and are meant to be repaid within a few weeks. Payday loans are legal in Missouri, so long as lenders comply with specific state regulations.

For those who need quick access to cash and have no other options, a payday loan may seem like an attractive option. However, before making any decisions, it’s important to understand how these loans work and the potential risks involved.

How Do Payday Loans Work?

Payday loans are typically easy to obtain, with most lenders requiring only proof of income, a valid identification card, and a checking account. Applicants can apply online, in person, or over the phone. Once approved, the borrower receives the cash amount they requested, minus any fees or interest charges.

The loan is meant to be repaid in full on the borrower’s next payday, which is typically between two to four weeks. If the borrower is unable to repay the loan in full, they may request an extension but will incur additional fees and interest charges.

What Are the Risks of Payday Loans?

While payday loans can seem like an attractive option for those in need of quick cash, there are significant risks involved. One of the most significant risks is the high-interest rates and fees associated with these loans. In Missouri, lenders can charge up to $75 in fees and interest on a $100 loan, which can add up quickly.

In addition to the high-interest rates, there is also a risk of repeat borrowing. Many borrowers find themselves stuck in a cycle of taking out new loans to pay off their existing loans, resulting in a debt spiral that can be difficult to escape.

Interesting Facts and Statistics about Payday Loans in Redford, Missouri

  • In Missouri, the average payday loan is $300, with an interest rate of around 450% APR.
  • In Redford, Missouri, there are over 20 licensed payday lenders operating within city limits.
  • In 2020, over 255,000 payday loans were issued in Missouri, totaling over $93 million in value.

Apply Now

If you’re considering a payday loan in Redford, Missouri, TheGuaranteedLoans can help. We are not a direct lender, but a connector service that can connect you with potential lenders in our network. Simply fill out our online application, and we’ll work to find lenders that meet your needs. Remember, it’s important to understand the risks involved in payday loans before making any decisions.

F.A.Q.

Can I apply for a payday loan if I have bad credit?

Yes, payday loans in Redford, Missouri do not require a credit check, so having bad credit will not disqualify you from applying.

Can a payday loan help improve my credit score in Redford, Missouri?

No, payday loans do not typically report to credit bureaus and therefore will not have an impact on your credit score. It is recommended to explore other options for improving your credit.