Payday Loans in Polkville, North Carolina

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

Company nameAddressZip codePhone number
Trent Williamson - Raymond James 119 Wall St, Clinton, NC 28328 +1 (910) 596 - 2003
SunTrust Bank - Closed 128 N Churton Street, Hillsborough, NC 27278 +1 (919) 732 - 2176
Shelby WEW Payday Loans, LLC Virtual Suite 28150, Shelby, NC 28150 +1 (866) 934 - 9750
Coastal Bank & Trust 8800 Richlands Hwy, Richlands, NC 28574
Maxiservices 750 E Chatham St a, Cary, NC 27511 +1 (919) 234 - 1962
First Federal Savings Bank 2763 NC-27, Lincolnton, NC 28092 +1 (704) 732 - 6446
BB&T 3226 Holden Beach Rd SW, Supply, NC 28462 +1 (910) 842 - 4701
BB&T 255 N Main St, Mooresville, NC 28115 +1 (704) 664 - 3434
Greensboro Lending 2712 Tavern Ct, Jamestown, NC 27282 +1 (336) 329 - 6020
Norris Commercial Capital 615 St George Square Ct, Winston-Salem, NC 27103 +1 (865) 585 - 0304

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Polkville, NC, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Without a Credit Check in Wake Forest, NC, Payday Loans in Wilmington, NC, Payday Loans in Wilson, NC, Payday Loan Without a Credit Check in Winston-Salem, NC, Short-term Loans in Apex, NC, Payday Loans in Asheville, NC, Quick Loan in Burlington, NC and Payday Loans in Cary, 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 Polkville, NC.

Beautiful sights of Polkville, NC

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

28136

Are Payday Loans Legal In Polkville, 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

Polkville, NC payday loan calculator

Understanding Payday Loans in Polkville, North Carolina

Payday loans are a tempting option for those who need quick cash to cover unexpected expenses. However, these loans come with high-interest rates and fees, making it difficult for borrowers to repay them on time. In North Carolina, payday loans are prohibited, including in Polkville. This means that if you are in need of short-term financing, you will have to explore other options.

What are Payday Loans?

Payday loans are small, short-term loans that are typically due on the borrower’s next payday. These loans are often used by individuals who need cash quickly and have no other source of financing available. In exchange for the loan, the borrower must provide a post-dated check or give the lender access to their bank account.

One of the major downsides to payday loans is that they come with high-interest rates and fees. In some cases, the interest rates can be as high as 400%. Additionally, if the borrower is unable to pay back the loan on time, they may be subject to additional fees and interest charges, making it even more difficult to repay the loan.

Why are Payday Loans Prohibited in North Carolina?

In North Carolina, payday loans are prohibited by the state’s usury laws. These laws regulate the amount of interest that lenders can charge on loans to protect consumers from predatory lending practices. The maximum interest rate that lenders can charge in North Carolina is 36%, making payday loans illegal.

While these laws are designed to protect consumers, some argue that they make it more difficult for people to access credit when they need it the most. However, there are other options available for those who need short-term financing.

Alternative Options for Short-Term Financing

If you are in need of short-term financing, there are several options available besides payday loans. These include:

  • Credit Cards: If you have a credit card, you can use it to cover unexpected expenses. While credit cards also come with high-interest rates, they tend to be lower than those associated with payday loans.
  • Personal Loans: Personal loans are another option for those who need to borrow money quickly. Unlike payday loans, personal loans typically come with lower interest rates and longer repayment terms.
  • Emergency Funds: If you have an emergency fund set up, you can use it to cover unexpected expenses. While this may not be an option for everyone, it is a good idea to have an emergency fund in place to help cover unexpected expenses.

Interesting Facts and Statistics about Payday Loans in Polkville, North Carolina

  • Payday loans are prohibited by North Carolina’s usury laws, which cap interest rates at 36%.
  • In 2019, the average payday loan interest rate in the United States was 391%.
  • In 2020, the Consumer Financial Protection Bureau (CFPB) proposed a new rule that would require payday lenders to verify borrowers’ ability to repay their loans before extending them.

Apply Now

If you are in need of short-term financing, TheGuaranteedLoans can help connect you with potential lenders. Our online application process is quick and easy, and we work with a network of trusted lenders who can provide you with the financing you need. Remember, TheGuaranteedLoans is a connector service, not a direct lender. We will facilitate your connection with potential lenders, but we are not responsible for the loan terms or approval decisions.

Don’t let unexpected expenses catch you off guard. Apply now for short-term financing through TheGuaranteedLoans and get the cash you need to cover your expenses.

F.A.Q.

Are payday loans legal in Polkville, North Carolina?

No, payday loans are not legal in Polkville, North Carolina. In fact, the state has some of the strictest laws in the country when it comes to payday lending, and it is one of only a few states that completely prohibits the practice.

What are the consequences of taking out a payday loan in Polkville, North Carolina?

Taking out a payday loan in Polkville, North Carolina is illegal, and violators can face significant penalties, including fines, jail time, and the revocation of their business license.