Payday Loans in Centerville, Pennsylvania

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No payday loan companies in Centerville, PA. Consider companies in other cities:

Company nameAddressZip codePhone number
Walmart Money Center 20 Industrial Dr, DuBois, PA 15801 +1 (814) 375 - 5000
Juniata Valley Bank 20 Prince St, Reedsville, PA 17084 +1 (717) 667 - 2411
Thrivent Financial - Al Todd 1736 Ferguson Rd, Allison Park, PA 15101 +1 (412) 492 - 1788
MCS Bank Allensville Office 108 E Main St, Allensville, PA 17002 +1 (717) 483 - 0115
Mariner Finance C-, 1187 Freedom Rd #104, Cranberry Twp, PA 16066 +1 (724) 591 - 5055
Fast Cash Inc 1508 Point Breeze Ave, Philadelphia, PA 19146 +1 (215) 463 - 2637
Northwest Bank 410 Wilcox Rd, Johnsonburg, PA 15845 +1 (814) 965 - 2561
Firstrust Bank 1 Walnut Grove Dr, Horsham, PA 19044 +1 (215) 259 - 5121
Patriot Federal Credit Union 10933 Buchanan Trail E, Waynesboro, PA 17268 +1 (717) 263 - 4444
Jersey Shore State Bank 550 N Derr Dr, Lewisburg, PA 17837 +1 (570) 523 - 8989

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Centerville, PA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Chester, PA, Payday Loans in Erie, PA, Payday Loans in Harrisburg, PA, Payday Loans in Haverford, PA, Payday Loans in Lancaster, PA, Payday Loans in Levittown, PA, Payday Loan Companies in Norristown, PA and 24-Hour Loan in Philadelphia, PA. 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 Centerville, PA.

Payday Loans Available in Centerville, PA By The Following ZIP Codes:

16404

Are Payday Loans Legal In Centerville, Pennsylvania?

Payday Lending is Prohibited in Pennsylvania

Pennsylvania Loan Regulations

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

Centerville, PA payday loan calculator

Understanding Payday Loans and Their Prohibition in Centerville, Pennsylvania

Payday loans are a type of short-term loan that typically provides borrowers with a small amount of funds to be paid back on their next payday. This type of loan comes with high-interest rates and can lead to a cycle of debt for borrowers.

However, Payday loans are illegal in Pennsylvania, including Centerville. In 2018, the state’s Attorney General issued an announcement reminding consumers that these types of loans are prohibited in the state under the Check Cashing Licensing Act. This law caps the annual percentage rate (APR) on small loans at 6%, making it impossible for payday lenders to operate in the state.

Why are Payday Loans Prohibited in Pennsylvania?

The prohibition of payday loans in Pennsylvania is largely due to their predatory nature. Borrowers who are unable to repay their loan on time can get stuck in a never-ending cycle of debt as they take out more loans to pay off the original amount.

Additionally, payday lenders often target vulnerable communities, such as low-income families and individuals with poor credit histories, which can exacerbate their financial struggles.

Alternatives to Payday Loans in Pennsylvania

Despite the prohibition of payday loans in Pennsylvania, there are still other options available to consumers who are in need of quick cash.

  • Personal Loans: Borrowers can apply for personal loans from traditional banks or online lenders. These loans typically have lower interest rates than payday loans, making them a better long-term option for borrowers.
  • Credit Cards: Credit cards can be a good option for borrowers who need to make a small purchase and can repay the amount in full by the end of the month.
  • Cash Advances: Some credit card companies offer cash advances, which allow consumers to withdraw cash against their credit limit. However, cash advances come with high-interest rates and fees, so borrowers should use them sparingly.
  • Local Assistance Programs: Low-income families and individuals can seek assistance from local non-profit organizations, such as food banks or housing assistance programs. Some programs also provide emergency loans with low-interest rates or no-interest rates.

Interesting Facts and Statistics About Payday Loans in Centerville, Pennsylvania

  • The annual percentage rate cap on small loans in Pennsylvania is 6%, one of the lowest in the country.
  • Pennsylvania’s prohibition of payday loans dates back to 1998.
  • In 2016, the Consumer Financial Protection Bureau found that over 80% of payday loans are rolled over or renewed within two weeks of the original loan, leading to additional fees and interest for borrowers.
  • As of 2021, there are no known storefront payday lenders operating in Centerville, Pennsylvania.

Apply Now

Although payday loans are prohibited in Pennsylvania, there are still other options available to consumers who need quick cash. TheGuaranteedLoans offers connections to lenders that can provide personal loans to borrowers in Centerville and throughout the state. Our easy application process can be completed online, and we work with a wide range of lenders to help find the best rates and terms for your needs.

Apply now and receive your cash in as little as one business day. Remember, TheGuaranteedLoans is a connector service, not a direct lender. We work with potential lenders to facilitate connections between borrowers and lenders, but we do not make lending decisions or control the terms of the loans.

F.A.Q.

What are the alternatives to payday loans in Centerville, Pennsylvania?

Consumers in Centerville, Pennsylvania 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 Centerville, Pennsylvania?

Payday loans are prohibited in Centerville, Pennsylvania due to their high interest rates and fees, which can trap consumers in a cycle of debt.