Payday Loans in Carmel, New York

All Credits Welcome!

If you have a bad credit score, then don’t worry – it’s not an issue for us!

TGL Loan Services

You can get your money fast after filling out the simple form on the "Get Started" page! Lenders cannot guarantee the approval, but they could approve your loans, even if you are unemployed, receiving government benefits.

Fast Money In Your Bank

You can get your money within hours after filling out the form! We work 24/7 for you!
  • This form is protected with secure 256-bit SSL encryption
  • By clicking “Get Started”, I consent and agree to the Privacy Policy and Terms of Use.

No payday loan companies in Carmel, NY. Consider companies in other cities:

Company nameAddressZip codePhone number
KeyBank 184 S Union St, Spencerport, NY 14559 +1 (585) 352 - 3417
Chemung Canal Trust Company 951 Pennsylvania Ave, Elmira, NY 14904 +1 (607) 734 - 2111
Bank of America with Drive-thru ATM 5834 Cir Dr E, Cicero, NY 13039 +1 (315) 458 - 6132
GPO Federal Credit Union 301 Bleecker St, Utica, NY 13501 +1 (315) 724 - 1654
Rockland Employees Federal Credit Union 170 E Central Ave, Spring Valley, NY 10977 +1 (845) 371 - 5804
TD Bank 3660 Lee Rd, Jefferson Valley, NY 10535 +1 (914) 245 - 1132
Northwest Bank 364 Connecticut St, Buffalo, NY 14213 +1 (716) 819 - 2790
Americu Credit Union 4228 NY-3, Star Lake, NY 13690
KeyBank 66 Main St, Geneseo, NY 14454 +1 (585) 243 - 1550
Teachers Federal Credit Union 301 Independence Plaza, Selden, NY 11784 +1 (631) 698 - 7000

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Carmel, NY, you can try to find different companies in big cities near by. Check out the following pages here: Bad Credit Loans in Centereach, NY, Payday Loans in Central Islip, NY, Payday Loans in Cicero, NY, Online Loans in Clarence, NY, Payday Loans in Clay, NY, Same Day Loans in Clifton Park, NY, Payday Loans in Commack, NY and Payday Loans in Coram, NY. 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 Carmel, NY.

Beautiful sights of Carmel, NY

Payday Loans Available in Carmel, NY By The Following ZIP Codes:

10512

Are Payday Loans Legal In Carmel, New York?

Payday Lending is Prohibited in New York

New York Loan Regulations

Legal StatusProhibited
Interest Rate (APR, %)Prohibited
Maximum Loan AmountProhibited
Minimum Loan TermProhibited
Maximum Loan TermProhibited
Number of Rollovers AllowedProhibited
Finance ChargesProhibited

Carmel, NY payday loan calculator

Overview of Payday Loans in Carmel, New York

Payday loans, also known as cash advances, are loans given to a borrower with the promise of repayment upon their next payday. While these loans can sometimes be helpful in times of financial need, it is important to understand the laws surrounding payday lending in your state before you consider taking one out.

Payday Loans are Prohibited in New York

Unfortunately, payday lending is illegal in the state of New York. The New York State Department of Financial Services explains that it is illegal for any lender to make payday loans, whether in-person, by telephone, or over the internet, in New York state.

The reason for this is that the state has implemented strict regulations to protect its citizens from predatory lending practices. According to the state’s usury laws, lenders cannot charge more than 16% APR on loans of $250,000 or less. This law also applies to any out-of-state lenders who may try to offer payday loans to New York residents, so make sure to be cautious when considering alternative options.

Why are Payday Loans Illegal in New York?

New York state regulators have taken a strong stance against payday lending for a few reasons. First and foremost, the interest rates charged by payday lenders can be exorbitant. In some cases, the APR on these loans can reach as high as 400%. These rates often trap borrowers in a cycle of debt, where they take out loan after loan just to keep up with the payments on the previous loans.

In addition to the high interest rates, many payday lenders use aggressive collection tactics and do not properly disclose the terms of the loan to their borrowers. This lack of transparency often leaves borrowers in the dark about the true cost of the loans they are taking out.

What Are My Alternatives to Payday Loans in Carmel, New York?

While payday loans are not an option in New York state, there are still a few alternatives available to residents of Carmel who may need quick access to cash.

  • Credit Unions: Many credit unions offer personal loans with relatively low interest rates and flexible repayment terms.
  • Bank Loans: Traditional bank loans may take longer to process than payday loans, but they often have lower interest rates and more favorable terms.
  • Credit Cards: If you have a credit card with an available balance, you may be able to use it to pay for an unexpected expense.
  • Borrow from Friends or Family: This option can be difficult for some, but it is often the most affordable and least risky way of borrowing money.

Interesting Facts and Statistics about Payday Loans in Carmel, New York

  • While payday lending is illegal in New York state, it is estimated that there are still thousands of New Yorkers who take out payday loans each year by turning to out-of-state lenders, tribal lenders, or online lenders.
  • A report from the Center for Responsible Lending found that payday lenders drain $1.5 billion from New York annually.
  • The average payday loan in the United States is $300, and borrowers typically pay $45 in fees for each $100 borrowed.

Apply Now

If you find yourself in a situation where you need quick access to cash, TheGuaranteedLoans can help you connect with potential lenders who may be able to provide you with alternative loan options. Please note that TheGuaranteedLoans is a connector service, not a direct lender. We will facilitate your connection with potential lenders and do our best to provide you with a loan option that meets your needs.

Thank you for considering TheGuaranteedLoans as your financial partner. Apply now to get started!

F.A.Q.

Why are payday loans illegal in Carmel, New York?

Payday loans are illegal in Carmel, New York because they often have high interest rates and fees that can trap borrowers in a cycle of debt. The state's regulations are designed to protect consumers from predatory lending practices.

What are some alternative options for getting quick access to cash in Carmel, New York?

in Carmel, New York, consumers can seek out alternative forms of financing, such as small personal loans, credit union loans, or even borrowing from friends or family.