Payday Loans in Freehold, New York

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

Company nameAddressZip codePhone number
CV Starr & Co 233 Federal Hill Rd, Brewster, NY 10509 +1 (845) 279 - 1801
KeyBank 121 W Manlius St, East Syracuse, NY 13057 +1 (315) 437 - 7872
Jefferies 520 Madison Ave 10th floor, New York, NY 10022 +1 (212) 284 - 2300
Bank of America Financial Center 5901 Myrtle Ave, Ridgewood, NY 11385 +1 (718) 497 - 5511
Ballston Spa National Bank 256 Ushers Rd, Clifton Park, NY 12065 +1 (518) 877 - 6667
NBT Bank 117 NY-320, Norwich, NY 13815 +1 (607) 337 - 6800
Community Bank, N.A. 201 Bath and Hammondsport Railroad, Bath, NY 14810 +1 (607) 664 - 3200
Bethpage Federal Credit Union 170 Fulton Avenue In the Hub Shopping Center across from Home Depot and next to Chuck E. Cheese, Hempstead, NY 11550 +1 (800) 628 - 7070
Allen B Powers CPA 65 Bay St, Glens Falls, NY 12801 +1 (518) 761 - 6054
KeyBank 4707 Lake Rd S, Brockport, NY 14420 +1 (585) 637 - 5247

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Freehold, NY, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Franklin Square, NY, Payday Loans in Freeport, NY, Guaranteed Loans in Guilderland, NY, Payday Loans in Hamburg, NY, Quick Loan in Haverstraw, NY, Payday Loan Without a Credit Check in Hempstead, NY, Payday Loans in Henrietta, NY and Payday Loan Companies in Hicksville, 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 Freehold, NY.

Beautiful sights of Freehold, NY

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

12431

Are Payday Loans Legal In Freehold, 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

Freehold, NY payday loan calculator

Payday Loans in Freehold, New York: What You Need to Know

If you’re looking for quick access to cash in Freehold, New York, a payday loan may seem like a convenient option. However, it’s important to understand that payday loans are prohibited in the state of New York.

What are Payday Loans?

Payday loans are short-term loans typically due on the borrower’s next payday. They are typically for small amounts, ranging from a few hundred to a few thousand dollars, with high interest rates and fees.

While some states allow payday lending, New York is one of several states that has banned payday loans altogether. This is because payday lending can trap borrowers in a cycle of debt with high interest rates and fees.

What Are the Alternatives to Payday Loans in Freehold, New York?

While payday loans may be off the table for borrowers in Freehold, New York, there are several alternatives available:

  • Personal loans: Personal loans are unsecured loans typically offered by banks and credit unions. They have lower interest rates and longer repayment periods than payday loans. However, they may require a higher credit score and longer application process.
  • Credit card cash advance: A credit card cash advance may be an option, but it typically comes with a high fee and high interest rates. It’s important to read the terms and conditions carefully before using this option.
  • Alternative financial institutions: Some alternative financial institutions, such as community development financial institutions (CDFIs), offer small loans to borrowers who may not qualify for traditional bank loans. These institutions typically have lower interest rates than payday lenders.

Why are Payday Loans Prohibited in Freehold, New York?

Payday loans are prohibited in New York because they have been found to trap borrowers in a cycle of debt. In 2018, the New York State Department of Financial Services found that payday loans were causing harm to New Yorkers by trapping them in debt cycles with interest rates ranging from 174% to 761%.

Since payday loans are due in full on the borrower’s next payday, they can be difficult to repay. Borrowers who cannot repay the loan often end up taking out another payday loan to make ends meet, leading to a cycle of debt that can be difficult to escape.

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

  • In 2019, New York State saved approximately $790 million in fees and interest by prohibiting payday loans. (The New York State Department of Financial Services)
  • Payday loans were found to trap 70% of borrowers in a cycle of debt. (Consumer Financial Protection Bureau)
  • The average annual percentage rate (APR) for a payday loan in New York is 448%. (The Center for Responsible Lending)

Apply Now with TheGuaranteedLoans

While payday loans are prohibited in Freehold, New York, TheGuaranteedLoans is still here to help connect you with potential lenders for other types of loans. As a connector service, we do not provide direct lending, but we can facilitate your application with trusted lenders in our network.

Fill out our online application to see if you qualify for a personal loan or explore other options with our network of lenders.

Important: Remember to read the terms and conditions carefully before agreeing to a loan. Make sure you understand the interest rates, fees, and repayment terms before committing to a loan.

F.A.Q.

What are the alternatives to payday loans in Freehold, New York?

Consumers in Freehold, New York can seek out small, short-term loans from credit unions or banks, or can consider using a credit card or personal loan for financial emergencies.

Why are payday loans prohibited in Freehold, New York?

Payday loans are prohibited in Freehold, New York due to their high interest rates and fees, which can trap consumers in a cycle of debt.