Payday Loans in Centrahoma, Oklahoma

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No payday loan companies in Centrahoma, OK. Consider companies in other cities:

Company nameAddressZip codePhone number
First National Bank & Trust Co 1025 Pennsylvania Ave, Hartshorne, OK 74547 +1 (918) 297 - 2511
Sun Loan Company 517 Frisco Ave, Clinton, OK 73601 +1 (580) 323 - 0527
Action Loan 236 Muskogee Ave, Tahlequah, OK 74464 +1 (918) 456 - 1598
Security Finance 1300 W Doolin Ave, Blackwell, OK 74631 +1 (580) 363 - 1020
LendNation 15020 S Memorial Dr Ste G, Bixby, OK 74008 +1 (918) 366 - 9801
O K Financial Services 202 W Broadway St, Okemah, OK 74859 +1 (918) 623 - 2554
Master Finance Co 1919 NW Cache Rd A1, Lawton, OK 73507 +1 (580) 354 - 0843
Diamond Finance Loans Idabel 1102 SE Washington St, Idabel, OK 74745 +1 (580) 286 - 3307
First National Bank 20941 SE 29th St, Harrah, OK 73045 +1 (405) 391 - 5855
Stockmans Bank 1400 N Louis Tittle Ave, Mangum, OK 73554 +1 (580) 782 - 2222

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Centrahoma, OK, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Bartlesville, OK, Quick Loan in Broken Arrow, OK, Guaranteed Loans in Edmond, OK, Payday Loans in Enid, OK, Payday Loans in Lawton, OK, Payday Loan for Muskogee, OK, Payday Loans in Norman, OK and Quick Loan in Oklahoma City, OK. 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 Centrahoma, OK.

Beautiful sights of Centrahoma, OK

Payday Loans Available in Centrahoma, OK By The Following ZIP Codes:

74534

Are Payday Loans Legal In Centrahoma, Oklahoma?

Loan Rates and Fees, Laws and Regulations in Oklahoma.

Oklahoma Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)395
Maximum Loan Amount$500
Minimum Loan Term12 days
Maximum Loan Term45 days
Number of Rollovers AllowedNot specified
Finance Charges<$300 = $15 >$300 = $10 for every additional $100

Centrahoma, OK payday loan calculator

Understanding Payday Loans in Centrahoma, Oklahoma

Payday loans are a type of short-term financial solution that has become increasingly popular in recent years. These loans allow individuals to borrow small amounts of money, typically ranging from $100 to $1,000, with the promise of making a repayment on their next payday.

In the state of Oklahoma, payday loans are legal, however, they are regulated by strict rules and regulations to protect consumers from predatory lending practices. Centrahoma is a small town located in Coal County, Oklahoma. If you are a resident of Centrahoma who is considering a payday loan, it is important to understand how these loans work, the regulations that govern them, and the potential risks and benefits that they offer.

How Payday Loans Work in Centrahoma, Oklahoma

The process of applying for and receiving a payday loan in Centrahoma, Oklahoma is relatively straightforward. Typically, the borrower will visit a payday loan store or submit an online application. The application will require the borrower to provide personal information, including their name, address, and income information. The borrower must also provide proof of employment and a valid bank account to receive the funds.

The lender will then evaluate the borrower’s information and determine whether to approve the loan. If approved, the borrower will receive the funds within 24 hours. The borrower is required to repay the loan in full on their next payday. The repayment amount usually includes the original loan amount plus interest and fees.

Regulations on Payday Loans in Centrahoma, Oklahoma

Payday loans are heavily regulated in Centrahoma, Oklahoma, and the rest of the state. The regulations aim to protect consumers from predatory lending practices and ensure that lenders operate transparently and honestly. Here are a few of the regulations in place:

  • The maximum loan amount is $500
  • Lenders may charge up to $15 in interest for every $100 borrowed
  • The loan term must be between 12 to 45 days
  • Borrowers may only have two outstanding loans at a time and cannot renew or refinance the loan more than twice

It’s important to note that lenders who operate outside of these regulations are breaking the law and should be avoided at all costs

The Pros and Cons of Payday Loans

Payday loans can be a useful tool for individuals facing unexpected expenses or temporary cash flow issues. However, they should be used with caution and understanding of the risks and benefits they offer. Here are some of the pros and cons of payday loans:

Pros:

  • Fast application process and quick access to funds
  • Bad credit or no credit history is not an obstacle
  • Borrowers can use the money for any purpose they like

Cons:

  • High interest rates and fees make them an expensive form of borrowing
  • Can quickly lead to a cycle of debt if not managed responsibly
  • Lenders operating outside the regulations can be predatory and cause further financial strain

Interesting Facts and Statistics on Payday Loans in Centrahoma, Oklahoma

  • In 2019, there were over 1,100 payday loan storefronts in Oklahoma
  • The average interest rate for payday loans in Oklahoma is 395%
  • The typical payday loan borrower in Oklahoma takes out 10 loans per year
  • In 2017, Oklahoma payday loan borrowers paid over $52 million in fees and interest

Apply Now

If you are considering a payday loan in Centrahoma, Oklahoma, it is important to use a trusted and reputable lender. TheGuaranteedLoans is a connector service that can help connect you with lenders who operate within the state regulations. Fill out our online application to get started and we will help facilitate your connection with potential lenders. Remember that payday loans are a serious financial responsibility and should be used with caution and understanding of the risks and benefits involved.

F.A.Q.

How do I apply for a payday loan in Centrahoma, Oklahoma?

To apply for a payday loan in Centrahoma, Oklahoma, you will need to provide proof of income, a valid ID, and a checking account. You can apply online or in person at a payday loan store.

What is the maximum amount I can borrow with a payday loan in Centrahoma, Oklahoma?

The maximum amount you can borrow with a payday loan in Centrahoma, Oklahoma is $500.