Payday Loans in Philadelphia, New York

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

Company nameAddressZip codePhone number
Community Bank, N.A. 29 Main St, Arkport, NY 14807 +1 (607) 295 - 7455
M&T Bank 74825 Main Rd, Greenport, NY 11944 +1 (631) 477 - 0234
Genesee Regional Bank 4180 W Ridge Rd, Rochester, NY 14626 +1 (585) 663 - 8930
KeyBank 11214 Maple Ridge Rd, Medina, NY 14103 +1 (585) 318 - 3000
Citizens Bank 5469 Camp Rd, Hamburg, NY 14075 +1 (716) 646 - 5515
Cornerstone CFCU 6485 S Transit Rd, Lockport, NY 14094 +1 (716) 434 - 2290
Tonawanda Community Cu 315 Delaware St, Tonawanda, NY 14150 +1 (716) 693 - 0946
ESL Federal Credit Union ATM 145 W Main St, Honeoye Falls, NY 14472 +1 (585) 336 - 1000
Jovia Financial Credit Union 648 Hempstead Turnpike, Franklin Square, NY 11010 +1 (516) 561 - 0030
Fulton Savings Bank 75 S 1st St, Fulton, NY 13069 +1 (315) 592 - 4201

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Philadelphia, NY, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Syracuse, NY, Payday Loans in Troy, NY, Payday Loans in Uniondale, NY, Payday Loans in Utica, NY, Payday Loan Companies in Valley Stream, NY, Guaranteed Loans in Warwick, NY, No Credit Check Loans in Webster, NY and Guaranteed Loans in West Babylon, 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 Philadelphia, NY.

Beautiful sights of Philadelphia, NY

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

13673

Are Payday Loans Legal In Philadelphia, 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

Philadelphia, NY payday loan calculator

Understanding Payday Loans: A Comprehensive Guide for Philadelphia and New York Residents

If you live in Philadelphia or New York, you may be considering a payday loan to help you get through a financial rough patch. Payday loans are a type of short-term loan that can provide funds quickly, but they can also come with high interest rates and fees.

It’s important to understand the ins and outs of payday loans before you consider applying for one. In this guide, we’ll explore the regulations surrounding payday loans in Philadelphia and New York, the pros and cons of payday loans, and alternatives to consider.

The Legality of Payday Loans in Philadelphia and New York

In Pennsylvania, payday lending is legal but heavily regulated. Lenders must be licensed and abide by strict rules and regulations. In Philadelphia, lenders are prohibited from charging more than 6% APR on loans under $50,000. The borrowing limit for payday loans in Pennsylvania is $1,000.

However, in New York, payday loans are illegal. The state has very strict usury laws that cap annual interest rates at 25%. This means that lenders cannot legally offer payday loans to residents of New York.

It is important to note that just because payday loans are prohibited in New York, that does not mean that unscrupulous lenders won’t try to take advantage of residents. Be wary of any lender that offers payday loans in New York, as they are operating illegally.

The Pros and Cons of Payday Loans

Payday loans can offer a quick fix for those in need of cash, but they also come with risks and drawbacks. Here are some of the pros and cons of payday loans:

Pros

  • Fast access to cash
  • No credit check required
  • Easy application process
  • Can be an option for those with bad credit

Cons

  • High interest rates and fees
  • Short repayment period
  • Risk of falling into a debt cycle
  • Potentially predatory lending practices

It’s important to weigh the pros and cons carefully before deciding to take out a payday loan. In some cases, the risks may outweigh the benefits, and there may be better alternatives available.

Alternatives to Payday Loans

If you’re considering a payday loan but are concerned about the risks, there are alternatives available. Some options to consider include:

  • Personal loans
  • Credit union loans
  • Credit card cash advances
  • Payment plans with creditors
  • Borrowing from family or friends

These alternatives may come with lower interest rates and fees, longer repayment periods, and less risk of falling into a debt cycle.

Interesting Facts and Statistics

  • Around 12 million Americans take out payday loans every year.
  • The average payday loan borrower takes out eight loans per year.
  • The average payday loan is $375.
  • The average interest rate on a payday loan is 391% APR.
  • Payday loans result in $9 billion in fees every year.

Apply Now

If you’re considering a payday loan, it’s important to do your research and find a reputable lender. TheGuaranteedLoans can connect you with potential lenders who can meet your needs. We are a connector service, not a direct lender, and we’ll work with you to find the best option for your financial situation.

To get started, visit our website and fill out our online application. We’ll take care of the rest.

Remember, payday loans can come with high interest rates and fees, and they may not be the best option for everyone. Make sure you understand the risks and benefits before deciding to take out a payday loan, and consider alternative options if possible.

F.A.Q.

Where can I get more information about payday loans in Philadelphia, New York?

More information about payday loans in Philadelphia, New York can be found on the New York State Department of Financial Services website. You can also contact the department directly with any questions or concerns.

Are payday loans available in Philadelphia, New York?

No, payday loans are prohibited in Philadelphia, New York.