Payday Loans in Loyalhanna, Pennsylvania

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

Company nameAddressZip codePhone number
Thrivent Financial - Lutherans 3579 Lincoln Hwy E, Kinzers, PA 17535 +1 (717) 977 - 4267
First National Bank 9133 West Ridge Road, Girard, PA 16417 +1 (814) 871 - 1753
Beaver Valley Federal Credit Union 601 37th St, Beaver Falls, PA 15010 +1 (724) 847 - 3600
Salabsky Financial Services 3258 Easton Ave, Bethlehem, PA 18020 +1 (610) 866 - 2342
C&N 4534 Williamson Trail, Liberty, PA 16930 +1 (570) 324 - 2331
Huntington Bank 101 S Main St, Chicora, PA 16025 +1 (724) 445 - 3400
Holiday Financial Services Corporation 715 W 38th St, Erie, PA 16508 +1 (814) 864 - 2468
Friendly Pocono Mountain Auto Repair 5243 Milford Rd, East Stroudsburg, PA 18302 +1 (570) 588 - 9399
Northwest Consumer Discount Company 176 W Chestnut St, Washington, PA 15301 +1 (724) 225 - 9600
APEX Mortgage Corp 1 Walnut Grove Dr 300, Horsham, PA 19044 +1 (877) 604 - 5304

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Loyalhanna, PA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Abington, PA, Payday Loans in Allentown, PA, Same Day Loans in Altoona, PA, Payday Loan Without a Credit Check in Bensalem, PA, Short-term Loans in Bethel Park, PA, Payday Loans in Bethlehem, PA, Payday Loan Companies in Bristol, PA and Payday Loans in Cheltenham, 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 Loyalhanna, PA.

Beautiful sights of Loyalhanna, PA

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

15661

Are Payday Loans Legal In Loyalhanna, 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

Loyalhanna, PA payday loan calculator

While payday loans may be a common way to get quick cash, it is important to note that they are currently illegal in the state of Pennsylvania, including in the town of Loyalhanna. Payday loans are defined as short-term, high-interest loans that require borrowers to pay back the loan plus fees by their next payday. In Pennsylvania, the state legislature has decided to protect consumers by prohibiting predatory payday lending.

What is the law in Pennsylvania regarding payday loans?

In October of 2018, Pennsylvania’s Payday Lending Prohibition Act came into effect. This law prohibits payday loan providers from operating in the state. Previously, payday lenders had been able to operate through loopholes in state law by registering as check cashers or by partnering with out-of-state banks. The Payday Lending Prohibition Act closed these gaps and set the maximum loan amount at $0, effectively making payday loans illegal in Pennsylvania.

Why are payday loans illegal in Pennsylvania?

The state legislature and consumer advocates have argued that payday loans trap vulnerable consumers in cycles of debt. The structure of a payday loan, which requires repayment within two weeks, can make it difficult for borrowers to come up with the necessary funds in time without rolling over the loan. Rolling over a loan means extending the loan for a fee, which can keep borrowers in debt for months or even years. Additionally, the high interest rates and fees on payday loans can cause borrowers to end up paying back significantly more than they borrowed in the first place.

What alternatives are available to borrowers in Loyalhanna?

Fortunately, there are alternatives to payday loans for borrowers in Loyalhanna who need quick cash. First, borrowers should explore traditional bank loans or credit union loans, which typically offer lower interest rates and longer repayment terms. Additionally, borrowers may be able to receive a cash advance from their employer or use a credit card to cover the expense. For those who are in immediate need of funds, there are also local programs that can provide assistance with food, housing, and utility bills.

Interesting facts about payday loans in Pennsylvania

  • Pennsylvania’s Payday Lending Prohibition Act went into effect in 2018
  • Before the law went into effect, payday lenders were able to operate in Pennsylvania
  • Payday loans trap borrowers in cycles of debt due to high fees and short repayment terms
  • Pennsylvania consumers saved an estimated $234 million per year after payday lending was prohibited in 2018

Apply now for a loan with TheGuaranteedLoans

While payday loans are prohibited in Loyalhanna and throughout Pennsylvania, there may be other options available. TheGuaranteedLoans is a connector service that can help match borrowers with potential lenders who offer a variety of loan types, including personal loans and installment loans. We work with a network of trusted lenders who operate in compliance with state and federal laws to ensure safe and fair lending practices. Contact us today to explore your options for fast cash.

F.A.Q.

What are the penalties for offering or taking out a payday loan in Loyalhanna, Pennsylvania?

Offering or taking out a payday loan in Loyalhanna, Pennsylvania is considered a criminal offense and can result in fines and imprisonment.

Are there any exceptions to the payday loan prohibition in Loyalhanna, Pennsylvania?

No, there are no exceptions to the payday loan prohibition in Loyalhanna, Pennsylvania.