Payday Loans in Tafton, Pennsylvania

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

Company nameAddressZip codePhone number
Ephrata National Bank 361 W Main St, Leola, PA 17540 +1 (717) 656 - 4320
Walker Benefits, Inc. 2599 Wilmington Rd, New Castle, PA 16105 +1 (800) 401 - 2001
Pawn Plus 718 Lancaster Ave, Reading, PA 19607 +1 (610) 373 - 7600
Community State Bank 620 Main St, Saxton, PA 16678 +1 (814) 635 - 9272
PNC Bank 2 E Main St, Mechanicsburg, PA 17055 +1 (717) 691 - 4011
Valley First Credit Union 819 Schoonmaker Ave, Monessen, PA 15062 +1 (724) 929 - 6002
AgChoice Farm Credit 4504 Westbranch Hwy, Lewisburg, PA 17837 +1 (570) 524 - 2204
Loan Doctors 1800 Boulevard Ave, Scranton, PA 18509 +1 (570) 207 - 7670
S&T Bank 220 New Castle Rd, Butler, PA 16001 +1 (724) 283 - 2724
TruMark Financial Credit Union - Trevose 1000 Northbrook Dr, Feasterville-Trevose, PA 19053 +1 (877) 878 - 6275

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Tafton, PA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Pittsburgh, PA, Payday Loans in Reading, PA, Payday Loan Without a Credit Check in Scranton, PA, Online Loans in State College, PA, Payday Loan Companies in Upper Darby, PA, Payday Loans in Warminster, PA, Payday Loan Without a Credit Check in Wilkes-Barre, PA and Payday Loans in York, 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 Tafton, PA.

Are Payday Loans Legal In Tafton, 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

Tafton, PA payday loan calculator

Payday Loans in Tafton, Pennsylvania: Understanding the Prohibition

While payday loans have become a common financial tool for many people in need of cash, they are not legal in Pennsylvania. This includes Tafton, a small community in the northeastern portion of the state. If you need cash in Tafton, be aware that you will need to find another financial solution.

What are payday loans?

A payday loan is a short-term loan that is designed to be repaid with the borrower’s next paycheck. These loans are typically small, ranging from $100 to $1,000, and they may carry high interest rates and fees. Some payday lenders require borrowers to write postdated checks or offer access to their bank accounts as collateral.

Why are payday loans illegal in Pennsylvania?

The Pennsylvania Department of Banking and Securities has stated that payday loans are illegal in the state because they violate the state’s laws regarding small loans. These laws set a maximum interest rate of 6% per year plus a $9.50 per $100 annual fee for small loans, which makes payday loans unprofitable for lenders. Additionally, Pennsylvania law prohibits lenders from charging more than 24% annual interest on consumer loans.

What are some alternatives to payday loans in Tafton?

  • Personal Loans: A personal loan from a bank or credit union may offer a more affordable interest rate and more flexible repayment terms than a payday loan. However, these loans may require a credit check or collateral.
  • Credit Cards: If you have a credit card, you may be able to use it to make purchases or get cash advances. However, be aware that cash advances often come with high fees and interest rates.
  • Assistance Programs: If you are struggling to make ends meet, you may qualify for government assistance programs such as SNAP, LIHEAP, or TANF.
  • Alternative Lenders: There are some alternative lenders, such as peer-to-peer lenders or online lenders, that offer small loans with competitive interest rates and fees. However, be sure to do your research and compare lenders before borrowing.

Interesting Facts and Statistics about Payday Loans in Tafton, Pennsylvania

– According to a survey conducted by the Pew Charitable Trusts, 12 million Americans take out payday loans each year.

– The average payday loan borrower takes out eight loans per year, with an average loan amount of $375 each.

– Pennsylvania is one of 15 states that prohibits payday lending

In conclusion, if you’re in Tafton or anywhere in Pennsylvania and in need of quick cash, payday loans are not a viable option. Instead, consider the alternatives mentioned above. Remember, borrowing money should always be a last-ditch effort. If you do need to borrow, be sure to do your research and compare lenders to find the best option for your situation.

Apply Now

If you’re in need of a short-term loan, TheGuaranteedLoans can help connect you with potential lenders who may be able to assist you. Please note that we are a connector service and not a direct lender. Fill out our online application to get started today.

F.A.Q.

Can I take out a payday loan online in Tafton, Pennsylvania?

No, even if the lender is located outside of Pennsylvania, it is illegal to take out a payday loan online in this state.

Can I take out a payday loan from a lender in another state and use it in Tafton, Pennsylvania?

No, it is illegal to use a payday loan from another state in Tafton, Pennsylvania.