Payday Loans in State Road, North Carolina

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

Company nameAddressZip codePhone number
Raymond James 700 N 2nd Ave 105, Siler City, NC 27344 +1 (919) 742 - 9282
Check 'n Go 1977 Cotton Grove Rd, Lexington, NC 27292 +1 (336) 357 - 5505
Financial Strategies of Lake Norman, Inc 347 N Main St Suite 205, Mooresville, NC 28115 +1 (704) 664 - 7995
First National Bank 870 Spring Ln, Sanford, NC 27330 +1 (919) 708 - 7055
Wells Fargo Bank 6460 Shallowford Rd, Lewisville, NC 27023 +1 (336) 761 - 3950
First National Bank 298 Lowes Blvd, Lexington, NC 27292 +1 (336) 357 - 2821
Alan's Jewelry & Pawn 736 Tunnel Rd, Asheville, NC 28805 +1 (828) 299 - 4440
Amity Finance-Kings Mountain 219 S Battleground Ave, Kings Mountain, NC 28086 +1 (704) 739 - 1311
Sharonview Federal Credit Union 2844 Freedom Pkwy Dr 2, Fayetteville, NC 28314 +1 (800) 462 - 4421
BB&T 1625 Seaside Rd SW, Sunset Beach, NC 28468 +1 (910) 579 - 8160

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in State Road, NC, you can try to find different companies in big cities near by. Check out the following pages here: Guaranteed Loans in Concord, NC, Payday Loans in Durham, NC, Same Day Loans in Fayetteville, NC, Payday Loans in Gastonia, NC, Payday Loans in Goldsboro, NC, Short-term Loans in Greensboro, NC, Guaranteed Loans in Greenville, NC and 24-Hour Loan in Hickory, 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 State Road, NC.

Are Payday Loans Legal In State Road, 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

State Road, NC payday loan calculator

In State Road, North Carolina, payday loans are prohibited by law. However, that doesn’t stop some lenders from offering them, which can put borrowers in a precarious financial situation.

What Are Payday Loans?

Payday loans are short-term loans that typically have high interest rates and fees. They are often marketed to people who need cash quickly and have limited options for borrowing money. Typically, borrowers write post-dated checks or authorize an electronic withdrawal from their bank account for the amount borrowed plus the fees. If they can’t repay the loan on time, they may incur additional fees and interest charges.

In North Carolina, payday lending is prohibited under the North Carolina General Statutes § 53-281 and the North Carolina Consumer Finance Act. While payday lenders cannot operate in the state, consumers may be tempted to turn to online payday lenders who claim to be based in another state or country that allow payday lending. However, these lenders are often not licensed to do business in North Carolina, which means they are not bound by the same laws that protect consumers.

What Are the Risks of Payday Loans in North Carolina?

Payday loans can be a risky financial decision for borrowers. The high interest rates and fees can quickly trap borrowers in a cycle of debt, where they borrow more money to pay off the original loan. In North Carolina, payday loans are especially risky because they are often offered by unlicensed lenders who operate outside the state’s consumer protection laws. This means that borrowers may not have legal recourse if they are treated unfairly or charged exorbitant fees or interest rates.

As with any financial decision, it’s important to carefully consider all of your options before taking out a loan. In North Carolina, there are several alternative options for borrowing money, including:

  • Personal loans from banks or credit unions
  • Credit card cash advances
  • Installment loans
  • Community assistance programs

These options may have lower interest rates and fees than payday loans, and they are subject to North Carolina’s consumer protection laws.

Interesting Facts about Payday Loans in North Carolina

  • In 2001, North Carolina became the first state to put an end to payday lending by making it illegal.
  • The average payday loan borrower in North Carolina takes out 10 loans per year.
  • The average payday loan in North Carolina is for $300 and carries an Annual Percentage Rate (APR) of 391%.
  • Between 2001 and 2010, North Carolina saved its citizens an estimated $457 million in fees and interest charges by banning payday lending.

Apply Now

While payday loans are prohibited in North Carolina, consumers may still find themselves in need of cash quickly. If you need to borrow money, consider alternative options like personal loans, credit card cash advances, or installment loans.

If you decide that one of these options is right for you, TheGuaranteedLoans can help connect you with potential lenders. We are a connector service, not a direct lender, which means we work with a network of lenders to help you find the right loan for your needs. Our online application is quick, easy, and secure.

Apply now to get started on your loan search. Remember, it’s important to carefully consider all of your options before borrowing money and to only take out a loan that you can afford to repay.

F.A.Q.

Can I be arrested for taking out a payday loan in State Road, North Carolina?

It is unlikely that a borrower would be arrested for taking out a payday loan in State Road, North Carolina, as the focus of enforcement efforts is typically on the lenders, rather than the borrowers. However, borrowers who knowingly engage in illegal activities, such as providing false information to a lender or participating in a loan scheme, may face criminal charges.

Are there any other resources available to help me avoid predatory lending in State Road, North Carolina?

Yes, there are several resources available to help consumers avoid predatory lending in State Road, North Carolina, including the state's Consumer Financial Protection Bureau, the North Carolina State Banking Department, and the North Carolina City Department of Consumer Affairs.