Payday Loans in South Lima, New York

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

Company nameAddressZip codePhone number
Fiserv Eft 70 S Main St, Fairport, NY 14450 +1 (585) 223 - 1608
Inner City Check Cashing 622 Main St, New Rochelle, NY 10801 +1 (914) 632 - 8800
Atrium Funding Corporation 290 Broadhollow Rd # 301, Melville, NY 11747 +1 (631) 427 - 7801
KeyBank 1125 Mohawk St, Utica, NY 13501 +1 (315) 792 - 9572
Elmira Savings Bank 404 S Hamilton St, Painted Post, NY 14870 +1 (607) 734 - 3374
Citizens Bank Supermarket Branch 96 Wolf Rd, Albany, NY 12205 +1 (518) 438 - 5910
People's United Bank 290 Broadhollow Rd, Melville, NY 11747 +1 (631) 208 - 2250
ESL Federal Credit Union 4214 Veterans Memorial Dr, Batavia, NY 14020 +1 (585) 336 - 1000
CAP COM Financial Services 4 Winners Cir, Albany, NY 12205 +1 (518) 782 - 0209
KeyBank 493 Center St, Lewiston, NY 14092 +1 (716) 405 - 5089

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in South Lima, NY, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Clifton Park, NY, Same Day Loans in Commack, NY, Payday Loans in Coram, NY, Payday Loans in East Meadow, NY, Payday Loans in Eastchester, NY, Payday Loans in Elmont, NY, 24-Hour Loan in Franklin Square, NY and Payday Loan Without a Credit Check in Freeport, 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 South Lima, NY.

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

14558

Are Payday Loans Legal In South Lima, 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

South Lima, NY payday loan calculator

Payday loans are a type of short-term, high-interest loan that a borrower typically repays on their next payday. While they can provide a source of quick cash in a pinch, payday loans also carry significant risks for borrowers.

The Prohibition of Payday Loans in South Lima, New York

In New York, payday loans are prohibited by state law. This means that lenders are not allowed to offer payday loans to consumers in the state.

However, despite the prohibition, some lenders still attempt to offer payday loans to New York consumers. These lenders often operate online or from out-of-state, where payday lending is legal, and target borrowers in New York with high-interest loans.

The Risks of Payday Loans

While payday loans may seem like a quick and easy solution to a financial problem, they can quickly spiral out of control. The high-interest rates and short repayment terms can make it difficult for borrowers to pay back the loan, leading to a cycle of debt that can be hard to break free from.

Research shows that the majority of payday loan borrowers end up renewing their loans multiple times, often paying more in fees than they originally borrowed. This can lead to a cycle of debt that can be hard to escape from, and can have serious negative consequences for a borrower’s financial health.

Alternatives to Payday Loans

If you’re in need of quick cash, it’s important to explore all of your options before turning to a payday loan. Here are some alternatives to consider:

  • Personal loans: Personal loans may be available through banks, credit unions, or online lenders. While they may have higher credit requirements and longer repayment terms than payday loans, they often have lower interest rates and can be a more affordable option for borrowers.
  • Credit cards: If you have a credit card, you may be able to use it to cover unexpected expenses. Just be sure to make your payments on time, as credit card debt can quickly spiral out of control if left unpaid.
  • Local assistance programs: Many community and non-profit organizations offer emergency assistance programs for those in need of financial help. These programs may provide assistance with rent, utilities, or other essential expenses.

Interesting Facts and Statistics about Payday Loans in South Lima, New York

  • According to a report from the Center for Responsible Lending, the average APR for payday loans in New York is 400 percent.
  • Between 2011 and 2013, the New York State Department of Financial Services took action against multiple online payday lenders for attempting to offer loans to New York consumers.

Apply Now

If you’re in need of quick cash and are considering a payday loan, it’s important to explore all of your options before making a decision. At TheGuaranteedLoans, we’re here to help connect you with potential lenders who may be able to offer you the funds you need.

It’s important to remember that TheGuaranteedLoans is not a direct lender, but rather a connector service that can help you find lenders who may be able to offer you a loan. To get started, simply fill out our online application form, and we’ll connect you with potential lenders who may be a good fit for your needs.

Conclusion

While payday loans may seem like an easy solution to a financial problem, they can quickly lead to a cycle of debt that’s hard to escape from. If you’re in need of quick cash, it’s important to explore all of your options and consider the risks before making a decision.

At TheGuaranteedLoans, we’re here to help connect you with potential lenders who may be able to offer you a loan. To get started, simply fill out our online application form, and we’ll connect you with lenders who may be a great option for your needs.

F.A.Q.

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

Lenders offering illegal payday loans in South Lima, 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 South Lima, New York?

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