Payday Loans in McFarlan, North Carolina

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

Company nameAddressZip codePhone number
First Flight Federal Credit Union 3127 Dr. M.L.K. Jr Blvd, New Bern, NC 28562 +1 (252) 633 - 4766
Regional Acceptance Corporation 4501 Atlantic Ave STE 122, Raleigh, NC 27604 +1 (919) 876 - 7620
Home Credit Corporation 1703 US-401, Laurinburg, NC 28352 +1 (910) 266 - 9886
First Citizens Bank 302 E 2nd St, West Jefferson, NC 28694 +1 (336) 246 - 2571
Granville Financial, Inc. 110-C Applecross Rd, Pinehurst, NC 28374 +1 (910) 692 - 1052
Quick Cash Pawn Hickory 1308 U.S. Hwy 70 SW, Hickory, NC 28602 +1 (828) 855 - 1323
State Employees' Credit Union 1000 Wade Ave, Raleigh, NC 27605 +1 (919) 839 - 5472
Southern Bank 810 Main St, Scotland Neck, NC 27874 +1 (252) 826 - 3181
HCC Loans / Home Credit Corporation - Durham, NC 2005 N Pointe Dr 4, Durham, NC 27705 +1 (919) 471 - 2083
Green Cap Financial 2630 Ramada Rd, Burlington, NC 27215 +1 (336) 329 - 7190

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in McFarlan, NC, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Companies in Jacksonville, NC, Payday Loans in Kannapolis, NC, Payday Loans in Matthews, NC, Payday Loans in Monroe, NC, Payday Loans in Mooresville, NC, 24-Hour Loan in Raleigh, NC, Quick Loan in Rocky Mount, NC and Payday 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 McFarlan, NC.

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

28102

Are Payday Loans Legal In McFarlan, 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

McFarlan, NC payday loan calculator

McFarlan, North Carolina may be a small town, but like many other places in the United States, some residents may find themselves in a bind and in need of emergency cash. One option for financial relief may be payday loans. However, payday loans are prohibited in North Carolina, leaving residents in McFarlan without access to this type of short-term loan.

What are Payday Loans?

Payday loans are a type of short-term loan typically due on the borrower’s next payday. These loans are often advertised as a way for individuals to get quick cash in an emergency or if they are unable to secure a loan through traditional means.

The borrower typically writes a post-dated check to the lender, with the loan amount plus fees and interest. The lender then provides the borrower with cash, and the borrower’s check is held until their next payday. If the borrower is unable to pay back the loan on time, they may be required to pay additional fees and interest.

Payday Loans in McFarlan, North Carolina

While payday loans may seem like a quick and easy solution for those in need of emergency cash, they are prohibited in North Carolina. In fact, North Carolina was the first state to enact legislation to prevent abusive payday lending practices.

The North Carolina Commissioner of Banks notes that “North Carolina General Statutes (NCGS) 53-281 and the North Carolina Consumer Finance Act (NCGS 53-173) prohibits payday lending in North Carolina.”

These laws were put in place to protect consumers from the high fees and interest rates associated with payday loans. While it may be frustrating for individuals in McFarlan to not have access to payday loans, they do still have other options for emergency cash.

Alternative Options for Emergency Cash

One option for emergency cash in McFarlan may be a personal loan from a traditional lender, such as a bank or credit union. These loans typically have lower interest rates and longer repayment terms than payday loans, making them a more affordable option for borrowers.

Another option may be a credit card cash advance. While this may have higher interest rates than a traditional personal loan, it can still be a more affordable option than a payday loan. Additionally, borrowers can typically take out more money with a credit card cash advance than with a payday loan.

Interesting Facts and Statistics about Payday Loans in North Carolina

  • North Carolina was the first state in the nation to enact legislation to stop abusive payday lending practices.
  • In 2001, the North Carolina General Assembly repealed the payday lending exemption from the state’s usury laws, effectively shutting down payday lending in the state.
  • Before the ban on payday loans in North Carolina, the average annual percentage rate (APR) on payday loans was around 450%, according to the Center for Responsible Lending.

Apply Now for Emergency Cash

While payday loans may be prohibited in North Carolina, TheGuaranteedLoans is here to help connect individuals in McFarlan with potential lenders for other emergency cash options. Fill out an online application today and we will work with our network of trusted lenders to find a solution that works for you.

It’s important to remember that TheGuaranteedLoans is a connector service, not a direct lender. We do not make credit decisions and we cannot guarantee loan approval or loan amount. However, we will work to connect our clients with lenders who may be able to provide them with emergency cash when they need it most.

Conclusion

While payday loans may seem like a quick solution for those in need of emergency cash, they are prohibited in North Carolina. Residents of McFarlan should explore other options, such as personal loans from traditional lenders or credit card cash advances, to avoid the high fees and interest rates associated with payday loans. TheGuaranteedLoans is here to help connect individuals with potential lenders for emergency cash options, but it’s important to carefully consider all options before taking out a loan.

F.A.Q.

Are there any alternatives to payday loans in McFarlan, North Carolina?

Yes, there are several alternatives to payday loans in McFarlan, North Carolina, 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 McFarlan, North Carolina but the lender is based in another state?

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