Payday Loans in Tecumseh, Missouri

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

Company nameAddressZip codePhone number
First State Community Bank 1419 S Jefferson Ave, Lebanon, MO 65536 +1 (417) 532 - 2151
U.S. Bank Branch 809 S Springfield Ave, Bolivar, MO 65613 +1 (417) 777 - 6070
Commerce Bank 1102 Bradley St, Festus, MO 63028 +1 (314) 746 - 3002
Easy Money 723 MO-53, Poplar Bluff, MO 63901 +1 (573) 785 - 3279
Flexi Cash 141 Moscow Springs Plaza, Moscow Mills, MO 63362 +1 (636) 462 - 6166
TitleMax Title Secured Loans 1202 S. Rangeline Rd Suites 3 & 4, Joplin, MO 64801 +1 (417) 624 - 5561
Mid-American Title Loans 3671 S Noland Rd, Independence, MO 64055 +1 (816) 252 - 5005
Peoples Community Bank 33710 State Hwy 112, Seligman, MO 65745 +1 (417) 662 - 3291
Security Finance 1901 E 32nd St 6, Joplin, MO 64804 +1 (417) 624 - 6933
Kennett Trust Bank 805 1st St, Kennett, MO 63857 +1 (573) 888 - 9051

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Tecumseh, MO, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan for Cape Girardeau, MO, 24-Hour Loan in Chesterfield, MO, Payday Loans in Columbia, MO, Payday Loan for Florissant, MO, 24-Hour Loan in Independence, MO, Payday Loans in Jefferson City, MO, Guaranteed Loans in Joplin, MO and Payday Loan Without a Credit Check in Kansas City, 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 Tecumseh, MO.

Are Payday Loans Legal In Tecumseh, 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

Tecumseh, MO payday loan calculator

In Tecumseh, Missouri, residents can turn to payday loans to help them cover unexpected expenses, bills, or emergencies. With payday loans, borrowers can obtain small, short-term loans quickly and relatively easily. But before you apply for a payday loan in Tecumseh, Missouri, it’s important to understand how they work, the requirements to obtain one, and the potential risks involved.

How do payday loans work in Tecumseh, Missouri?

Payday loans are short-term loans designed to help borrowers in need of quick cash until their next paycheck. The application process typically involves filling out a form, providing proof of income, and providing a post-dated check or access to your bank account. If approved, the loan amount (plus fees and interest) is deposited into your bank account within a few business days.

In Tecumseh, Missouri, payday loans are legal. State regulations require that fees and interest rates not exceed 75% of the loan amount. While payday loans can provide cash quickly, they can also carry high fees and interest rates, so it’s important to consider other options, such as personal loans or credit cards, before turning to a payday loan.

What are the requirements for obtaining a payday loan in Tecumseh, Missouri?

The requirements for obtaining a payday loan in Tecumseh, Missouri are fairly simple. First, borrowers must be at least 18 years old and have a steady source of income. They must also provide a valid form of identification, such as a driver’s license or passport, and a post-dated check or access to their bank account.

While payday lenders in Tecumseh, Missouri do not typically require a credit check, borrowers should be aware that the loan will be reported to credit agencies if they are unable to repay it, which can negatively affect their credit score.

What are the risks associated with payday loans?

The main risk associated with payday loans is the high cost of borrowing. Lenders typically charge a fee for each $100 borrowed, which can range from $15 to $30. If the loan is not repaid on time, additional fees and interest can quickly accumulate, making it difficult for borrowers to repay the loan. In fact, many borrowers end up taking out additional loans to cover the original loan, creating a cycle of debt that can be difficult to break.

Another risk associated with payday loans is the potential for fraud. Some lenders may use aggressive tactics to collect unpaid debts, such as threatening to arrest borrowers or garnish their wages. It’s important to work with reputable lenders and to read and understand all terms and conditions before signing a loan agreement.

Interesting Facts and Statistics about Payday Loans in Tecumseh, Missouri

  • In Missouri, payday lenders are required to obtain a license from the Missouri Division of Finance before offering loans to residents.
  • The average payday loan amount in Missouri is $301, and the average loan term is 14 days.
  • According to a 2020 report from the Pew Charitable Trusts, 3 out of 10 Missouri residents have taken out a payday loan in the past 5 years.
  • The report also found that payday loans in Missouri carry an average annual percentage rate (APR) of 455%, one of the highest rates in the country.

Apply Now

Looking for a payday loan in Tecumseh, Missouri? TheGuaranteedLoans can help connect you with potential lenders. Simply fill out our online application with your information, and we’ll work to find a lender that meets your needs. Remember, TheGuaranteedLoans is a connector service, not a direct lender, and we do not make credit decisions.

When applying for a payday loan, it’s important to consider all of your options and to be aware of the potential risks involved. Payday loans can provide quick cash, but they can also be expensive and carry a high risk of debt. If you decide to apply for a payday loan, make sure you read and understand all terms and conditions before signing any agreement.

F.A.Q.

Can I be charged with criminal penalties for defaulting on a payday loan in Tecumseh, Missouri?

No, in Tecumseh, Missouri, borrowers cannot be charged with criminal penalties for defaulting on a payday loan. However, lenders may pursue civil action to collect on unpaid loans.

Is a credit check required for payday loans in Tecumseh, Missouri?

No, payday lenders in Tecumseh, Missouri do not typically perform credit checks during the loan application process.