Payday Loans in Saranac, 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 Saranac, NY. Consider companies in other cities:

Company nameAddressZip codePhone number
Sterling National Bank 38 New Main St, Haverstraw, NY 10927 +1 (845) 942 - 3880
Cattaraugus County Bank 870 Fairmount Ave, Jamestown, NY 14701 +1 (716) 664 - 6644
Stefans Associates 137 Woodbury Rd, Woodbury, NY 11797 +1 (516) 692 - 2744
TIAA Financial Services 411 Lafayette St Fl 6, New York, NY 10003 +1 (800) 842 - 2733
Cash In Advance - Pawn Shop, Pawn Dealer, Pawnbroker, Jewelry Pawn Shop, Jewelry Pawning Albany NY 71 Central Ave, Albany, NY 12206 +1 (518) 330 - 7519
Chase Mortgage 2102 Middle Country Rd, Centereach, NY 11720 +1 (631) 588 - 3044
Niagara Falls Air Force FCU 2420 Olmstead St, Niagara Falls, NY 14304 +1 (716) 297 - 4034
HSBC 160 Walt Whitman Rd 1083, Huntington Station, NY 11746 +1 (631) 423 - 7201
Wink Check Cashing Corp. 5 499-A S Broadway, Yonkers, NY 10705 +1 (914) 965 - 5459
M&T Bank 22 Mechanic St, Springville, NY 14141 +1 (716) 592 - 2822

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Saranac, NY, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in White Plains, NY, Payday Loans in Yonkers, NY, Payday Loans in Albany, NY, Same Day Loans in Babylon, NY, No Credit Check Loans in Bay Shore, NY, Payday Loans in Binghamton, NY, Payday Loans in Brentwood, NY and Payday Loans in Brookhaven, 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 Saranac, NY.

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

12981

Are Payday Loans Legal In Saranac, 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

Saranac, NY payday loan calculator

In Saranac, New York, payday loans are prohibited. This means that individuals in need of short-term financing have to look for alternative options. While payday loans are illegal in New York State, it’s essential to understand the reasons behind the prohibition, what alternatives are available, and how to make informed financial decisions.

Why are payday loans illegal in New York State?

Payday loans are not accessible in New York State because of their high-interest rates and predatory lending practices that often trap individuals in a cycle of debt. In 2006, the New York State Department of Financial Services (NYDFS) implemented regulations that prevented payday lenders from operating in the state.

Payday loans are short-term loans that typically range from $50 to $1,000. These loans are designed to help individuals cover unexpected expenses between paychecks. However, the high-interest rates, fees, and short repayment periods often lead borrowers to become trapped in a cycle of debt. Borrowers are unable to pay back the loans on time and often end up taking out additional loans to cover the initial borrowing costs.

The NYDFS aims to protect consumers from predatory lending practices by prohibiting payday loans and other high-cost lending products that benefit lenders more than borrowers. Although the regulations make it difficult for payday lenders to operate in New York State, it’s crucial to have a basic understanding of alternative financing options.

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

In New York State, there are several alternative financing options that individuals can consider.

1. Personal Loans

Personal loans are a type of unsecured loan that can help individuals finance a variety of expenses. Depending on the lender, personal loans offer more favorable interest rates than payday loans. Personal loans also typically have long repayment periods, which can give borrowers enough time to repay the loan without the risk of getting trapped in a cycle of debt.

2. Credit Unions

Credit unions are non-profit organizations that provide lending and banking services to their members. They offer members a wide range of affordable financial products and services, including personal loans. Credit unions have lower interest rates and fees than traditional banks, which makes them a great alternative to payday loans.

3. Credit Card Cash Advances

While cash advances are not the best alternative to payday loans, they are still a better option than taking out a payday loan due to lower interest rates. Credit card companies typically charge a cash advance fee, which is a percentage of the amount borrowed. Borrowers need to be aware that credit card cash advances come with higher interest rates than regular credit card purchases, and there is no grace period for interest charges.

4. Government Assistance Programs

The government offers several assistance programs that can help individuals in need of financial assistance. These programs include the Supplemental Nutrition Assistance Program (SNAP), Temporary Assistance for Needy Families (TANF), and Low Income Home Energy Assistance Program (LIHEAP). These programs can provide essential financial assistance and help individuals avoid payday loans.

Interesting Facts and Statistics About Payday Loans in Saranac, New York

  • In 2016, the average APR (annual percentage rate) for payday loans was 391% in New York State.
  • In 2018, the New York State Department of Financial Services settled with 12 payday loan companies that were illegally offering payday loans in the state.
  • In 2019, the Consumer Financial Protection Bureau (CFPB) repealed regulations that would have required payday lenders to assess a borrower’s ability to repay before offering a loan.

Conclusion

While payday loans are prohibited in Saranac, New York, it’s essential to understand the reasons behind the prohibition and what alternatives are available. Personal loans, credit unions, credit card cash advances, and government assistance programs are all viable options for individuals in need of short-term financing. TheGuaranteedLoans can help connect borrowers with potential lenders that offer affordable lending products, not just payday loans. Apply now through our website to find out what financing options are available to you!

F.A.Q.

How do I know if a lender is offering illegal payday loans in Saranac, New York?

Lenders offering illegal payday loans in Saranac, New York may not be licensed by the state and may have high interest rates and fees that are not allowed under state law.

What can I do if I have taken out an illegal payday loan in Saranac, New York?

If you have taken out an illegal payday loan in Saranac, New York, you can contact the New York State Department of Financial Services to report the lender and seek assistance in resolving the issue.