Payday Loans in Maple Hill, North Carolina

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No payday loan companies in Maple Hill, NC. Consider companies in other cities:

Company nameAddressZip codePhone number
Matthews & Associates 800 Umstead Ln, Garner, NC 27529 +1 (919) 251 - 6959
Southern Bank 8315 Red Oak Rd, Battleboro, NC 27809 +1 (252) 443 - 2138
Easy Finance 325 W Dixon Blvd, Shelby, NC 28152 +1 (704) 471 - 1353
Time Financing Service 2003 W 15th St, Washington, NC 27889 +1 (252) 975 - 1896
United States Postal Service 1001 W Ehringhaus St, Elizabeth City, NC 27909 +1 (800) 275 - 8777
First Horizon Bank 200 S State St, Yadkinville, NC 27055 +1 (336) 849 - 6001
Fidelity Bank 2561 Lewisville Clemmons Rd, Clemmons, NC 27012 +1 (336) 778 - 1601
First Bank - Black Mountain, NC 300 W State St, Black Mountain, NC 28711 +1 (828) 669 - 8432
Southern Loan 972 S Bennett St # A, Southern Pines, NC 28387 +1 (910) 692 - 7663
Woodforest National Bank 14215 US-64, Siler City, NC 27344 +1 (919) 663 - 2136

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Maple Hill, NC, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Jacksonville, NC, Payday Loans in Kannapolis, NC, Payday Loans in Matthews, NC, Emergency Loan in Monroe, NC, Payday Loans in Mooresville, NC, Payday Loans in Raleigh, NC, Payday Loans in Rocky Mount, NC and No Credit Check Loans in Salisbury, NC. 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 Maple Hill, NC.

Payday Loans Available in Maple Hill, NC By The Following ZIP Codes:

28454

Are Payday Loans Legal In Maple Hill, North Carolina?

Payday Lending is Prohibited in North Carolina

North Carolina Loan Regulations

Legal StatusProhibited
Interest Rate (APR, %)Prohibited
Maximum Loan AmountProhibited
Minimum Loan TermProhibited
Maximum Loan TermProhibited
Number of Rollovers AllowedProhibited
Finance ChargesProhibited

Maple Hill, NC payday loan calculator

Payday loans in Maple Hill, North Carolina

Payday loans are a type of short-term loan that typically needs to be repaid within two weeks or when the borrower receives their next paycheck. These loans have been under intense scrutiny in recent years due to their high-interest rates and potential to trap borrowers in a cycle of debt. In North Carolina, payday loans are prohibited by law. Let’s take a closer look at how this policy affects the residents of Maple Hill, North Carolina.

The Prohibition of Payday Loans in North Carolina

North Carolina was one of the first states to pass legislation to prohibit payday lending. In 2001, the North Carolina General Assembly passed the Payday Lending Act, which declared payday lending to be illegal in the state. This statute specifically targets payday loans with terms of less than 60 days and APRs greater than 36%. This legislation made North Carolina one of only 18 states in the U.S. that prohibits payday lending.

Since payday loans are illegal in North Carolina, lenders cannot operate brick-and-mortar establishments within state lines. However, this has not stopped some lenders from attempting to offer online payday loans to North Carolina residents. These lenders often claim that they are exempt from state law since they are based outside of North Carolina or are affiliated with a Native American tribe. However, the state Attorney General’s office has been successful in shutting down many of these illegal lenders operating in the state.

The Impact of Payday Loan Prohibition in Maple Hill

Although payday loans are not available in Maple Hill, that doesn’t mean that residents are immune to financial difficulties. Some may still choose to take out loans from other types of lending institutions or seek assistance from nonprofit organizations.

  • According to the U.S. Census Bureau, the median household income in Maple Hill is $40,058. This is slightly lower than the median household income for the state of North Carolina as a whole, which is $48,256.
  • As of 2021, the poverty rate in Maple Hill is 13.9%, which is higher than the national average of 10.5%.

These statistics suggest that many people in Maple Hill may struggle with financial instability. However, banning payday loans is a critical step in preventing predatory lending practices that can make financial situations worse. By discouraging payday lending, North Carolina has protected consumers from falling into this type of debt trap.

Interesting Facts about Payday Loans in Maple Hill, North Carolina

  • North Carolina became the first state to ban payday lending in 2001.
  • According to the Center for Responsible Lending, payday lending has cost North Carolina families more than $450 million in fees since 2005.
  • North Carolina lawmakers rejected a bill in 2019 that would have allowed payday lending in the state again.

Apply Now

At TheGuaranteedLoans, we understand that unexpected expenses can arise at any time. Although we don’t offer payday loans, we do provide a useful service to connect borrowers with potential lenders for a variety of loan types. Our online application process is quick and easy, and you can receive multiple loan offers in just minutes. By working with a reputable lender, you may be able to find a loan with competitive rates and favorable terms to meet your financial needs.

Please note that TheGuaranteedLoans is not a direct lender. Instead, we act as a connector service to match borrowers with potential lenders. We do not make credit decisions and do not endorse any specific lender. However, we strive to provide a safe and transparent platform for borrowers to explore their loan options.

Conclusion

The prohibition of payday loans in North Carolina is an essential consumer protection policy that helps keep vulnerable borrowers from falling into a debt cycle. Although payday loans may seem like an attractive option due to their fast funding, high-interest rates and short repayment terms can be financially devastating. If you need financial assistance, it’s a good idea to explore other loan options that you may be eligible for. TheGuaranteedLoans is here to help you find the best loan for your needs from our list of trusted and reliable lenders.

F.A.Q.

What are the alternatives to payday loans in Maple Hill, North Carolina?

Consumers in Maple Hill, North Carolina 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 Maple Hill, North Carolina?

Payday loans are prohibited in Maple Hill, North Carolina due to their high interest rates and fees, which can trap consumers in a cycle of debt.