Payday Loans in Linwood, New York

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

Company nameAddressZip codePhone number
Joseph L Ferri - Ameriprise Financial Services, LLC 184 Front St, Owego, NY 13827 +1 (607) 223 - 4603
Citizens Bank Supermarket Branch 710 S Meadow St, Ithaca, NY 14850 +1 (607) 277 - 8500
TCT Federal Credit Union 4 Hunter Brook Lane, Queensbury, NY 12804 +1 (518) 793 - 1958
Amityville Payroll Services 385 Nassau Rd, Roosevelt, NY 11575 +1 (516) 868 - 4121
Northwest Associates 122 Plum St, Syracuse, NY 13204 +1 (315) 471 - 7662
TEG Federal Credit Union - Beekman Branch 2540 State Rte 55, Poughquag, NY 12570 +1 (845) 452 - 7323
Mumoin Check Cashing 27 Orchard St 107, Monsey, NY 10952 +1 (845) 426 - 1414
Primos Pawn Shop 107-10 Rockaway Blvd, Ozone Park, NY 11417 +1 (718) 480 - 1092
Ridgewood Savings Bank 2080 Bellmore Ave, Bellmore, NY 11710 +1 (516) 785 - 0385
BankOnBuffalo a Division of CNB Bank 9865 Main St 2051, Clarence, NY 14031 +1 (716) 542 - 5401

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Linwood, NY, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Mount Vernon, NY, Online Loans in New City, NY, Online Loans in New Rochelle, NY, 24-Hour Loan in New York, NY, Payday Loans in Niagara Falls, NY, Payday Loans in North Tonawanda, NY, Payday Loan for Oceanside, NY and Online Loans in Ossining, 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 Linwood, NY.

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

14486

Are Payday Loans Legal In Linwood, 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

Linwood, NY payday loan calculator

Understanding Payday Loans in Linwood, New York: An Expert Guide

Are you considering taking out a payday loan in Linwood, New York? It’s important to know that payday loans are actually prohibited in the state of New York, including in the city of Linwood. But what exactly are payday loans, and why are they prohibited in New York? In this guide, we’ll help you understand everything you need to know about payday loans in Linwood.

What are payday loans?

Payday loans are high-interest, short-term loans that are typically due on the borrower’s next payday. These loans are often used by individuals who need quick access to cash to cover unexpected expenses, such as car repairs or medical bills.

Typically, borrowers can obtain a payday loan by providing the lender with a post-dated check or by authorizing an electronic withdrawal of funds from their bank account. In exchange for the loan, the borrower is typically charged a fee or interest rate that is much higher than traditional lending options, such as personal loans or credit cards.

Why are payday loans prohibited in New York?

New York state has enacted strict usury laws that cap the interest rates that lenders can charge for loans. These laws make it illegal for lenders to offer payday loans with interest rates higher than 25%. Because payday loan interest rates are typically much higher than this, payday lending is considered illegal in the state of New York, including in the city of Linwood.

What are the alternatives to payday loans in Linwood?

Although payday loans are prohibited in Linwood, there are a variety of alternative lending options available for individuals who need quick access to cash. These options may include:

  • Personal loans from banks or credit unions
  • Credit cards or cash advances
  • Overdraft protection or lines of credit
  • Community assistance programs or charities

It’s important to carefully consider your options and choose a lending option that is right for your individual needs and financial situation.

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

While payday loans are prohibited in Linwood, many New Yorkers still find themselves trapped in the cycle of debt that can come from payday lending. Here are some interesting facts and statistics about payday lending in New York:

  • Between 2010 and 2019, an estimated 3.5 million households in New York took out payday loans.
  • The average payday loan in New York has an interest rate of 391%.
  • In 2019, New York’s Department of Financial Services sued a payday lending company that was charging interest rates of up to 950%.

Apply Now

While payday loans are prohibited in Linwood and throughout New York, TheGuaranteedLoans can help connect you with potential lenders who may be able to provide alternative lending options. Fill out our online application today to see if you qualify.

Please keep in mind that TheGuaranteedLoans is a connector service, not a direct lender. We do not provide loans ourselves, but instead work with a network of lenders who may be able to offer you a loan that fits your needs.

In Conclusion

While payday loans may seem like an easy way to access quick cash, they come with high costs and risks. Fortunately, there are alternative lending options available to individuals in Linwood and throughout New York. If you’re in need of a loan, it’s important to carefully evaluate your options and choose a lender that is reputable and trustworthy.

By understanding the risks and limitations of payday lending, you can make informed financial decisions that will help you achieve your financial goals and improve your overall financial health.

F.A.Q.

Are there any alternatives to payday loans in Linwood, New York?

Yes, there are several alternatives to payday loans in Linwood, New York, including credit unions, community development financial institutions, and small-dollar loan programs offered by banks and credit unions.

Can I still take out a payday loan if I live in Linwood, New York but the lender is based in another state?

No, it is illegal for payday lenders to offer loans to residents of New York, regardless of where the lender is located.