Payday Loans in Covington, Pennsylvania

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

Company nameAddressZip codePhone number
HomeBridge Financial Services 550 Cleveland Ave Suite 103, Chambersburg, PA 17201 +1 (717) 552 - 2402
Peoples Security Bank & Trust Company ATM 83 E Tioga St, Tunkhannock, PA 18657 +1 (888) 868 - 3858
Cash Mart 413 York St, Gettysburg, PA 17325 +1 (717) 334 - 4246
Paramount Capital Group 300 Conshohocken State # 240, Conshohocken, PA 19428 +1 (610) 771 - 0990
J & R Pawn Shop & Check Cashing 6902 New Falls Rd, Levittown, PA 19057 +1 (215) 547 - 2220
Global Cash Access 15 Fleetwood Rd, Carbondale, PA 18407 +1 (570) 281 - 2579
Mortgage Lending Solutions 900 Pennsylvania Ave, Monaca, PA 15061 +1 (724) 774 - 9464
Penn State University Old Main, State College, PA 16801 +1 (814) 865 - 4700
Members 1st Federal Credit Union 105 Chambersburg St, Gettysburg, PA 17325 +1 (800) 237 - 7288
Jersey Shore State Bank 300 Market St, Williamsport, PA 17701 +1 (570) 322 - 1111

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Covington, PA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Chester, PA, No Credit Check Loans in Erie, PA, Payday Loans in Harrisburg, PA, Online Loans in Haverford, PA, Quick Loan in Lancaster, PA, Same Day Loans in Levittown, PA, Payday Loans in Norristown, PA and No Credit Check Loans 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 Covington, PA.

Beautiful sights of Covington, PA

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

16901, 16912, 16917, 16933

Are Payday Loans Legal In Covington, 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

Covington, PA payday loan calculator

Payday Loans in Covington, Pennsylvania

If you’re living in Covington, Pennsylvania, and you’re looking for some quick cash, you might be tempted to consider a payday loan.

What is a Payday Loan?

A payday loan is a short-term, high-interest loan that is designed to help borrowers get through their next paycheck. These loans are typically due on the borrower’s next payday, which is where they get their name. Generally, the loan amount is less than $500, and the term of the loan is no more than a few weeks.

The interest rates on payday loans are incredibly steep. In Pennsylvania, the law prohibits payday lenders from charging more than 28% APR, which is significantly lower than the rates charged in other states. However, it’s still a hefty interest rate when you consider the fact that most payday loans are due in full on your next payday.

Why are Payday Loans Prohibited in Pennsylvania?

In 2010, Pennsylvania passed a law that prohibited payday lending in the state. Legislators argued that payday loans were designed to trap vulnerable borrowers in cycles of debt that they couldn’t escape. One of the biggest issues with payday loans is that they often charge exorbitant interest rates that make it virtually impossible for borrowers to pay the loan back without taking out another loan.

By prohibiting payday lending, Pennsylvania lawmakers hoped to protect residents from predatory lending practices that could leave them in a worse financial position than they were in before they took out a payday loan.

What are the Alternatives to Payday Loans in Covington, Pennsylvania?

While payday loans are illegal in Pennsylvania, there are still a few options available to borrowers who need quick cash. Here are a few alternatives to payday loans you should consider:

Credit Union Loans

If you’re a member of a credit union, you may be able to take out a short-term loan at a much lower interest rate than a payday loan. Since credit unions are non-profit organizations, they often have more flexible lending guidelines than traditional banks.

Credit Card Cash Advances

If you have a credit card, you can take out a cash advance. While the interest rate on a cash advance is typically higher than the rate on a normal credit card purchase, it’s still likely to be lower than the interest rate on a payday loan.

Personal Loans

You can apply for a personal loan at a bank or online lender. Personal loans often have lower interest rates than payday loans, and you can often pay them back over a longer period.

Local Assistance Programs

If you’re struggling to pay your bills, there may be local assistance programs available in Covington, Pennsylvania. You can contact your local government or community organizations to find out what programs are available in your area.

Interesting Facts about Payday Loans in Covington, Pennsylvania

  • Payday lending is illegal in Pennsylvania, but some lenders still try to operate online.
  • Pennsylvania has some of the strictest payday loan laws in the United States.
  • Predatory lending practices have been shown to disproportionately harm low-income, minority, and elderly people.
  • The average payday loan borrower takes out eight loans per year, and spends $520 in fees alone.
  • Payday lenders often target people who are in poor financial situations, such as those with low credit scores, no credit history, or a recent bankruptcy.

Apply Now with TheGuaranteedLoans

If you’re in need of quick cash and are considering a payday loan, consider the alternatives listed above. If you decide that a loan is the best option for you, TheGuaranteedLoans can help. We’re a connector service that can connect you with reputable lenders who will provide you with a loan that meets your needs. Remember, we’re not a direct lender, and we won’t charge you any fees for our service.

Simply visit our website and fill out our online application to get started. We’ll review your information and match you with lenders who are willing to work with you. Applying for a loan has never been easier. Don’t let financial stress overwhelm you – apply with TheGuaranteedLoans today.

F.A.Q.

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

Consumers in Covington, 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 Covington, Pennsylvania?

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