Payday Loans in Eola, Texas

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No payday loan companies in Eola, TX. Consider companies in other cities:

Company nameAddressZip codePhone number
City National Bank - Queen City 401 US-59, Queen City, TX 75572 +1 (903) 799 - 6700
Speedy Cash 521 S Conway Ave, Mission, TX 78572 +1 (956) 519 - 4528
CommunityBank of Texas 637 S Wheeler St, Jasper, TX 75951 +1 (409) 383 - 0999
US Trade Finance Corporation 700 N Pearl St 940, Dallas, TX 75201 +1 (469) 916 - 0174
First State Bank Central Texas 201 E Davilla St, Granger, TX 76530 +1 (512) 859 - 2293
Woodforest National Bank 1035 Hickory Creek Blvd, Lake Dallas, TX 75065 +1 (940) 497 - 0336
Western Finance 1335 E Milam St #D, Mexia, TX 76667
Texas Car Title & Payday Loan Services, Inc. 302 S Cedar St, Borger, TX 79007
Western Finance 2787 E Grant St Suite 3, Roma, TX 78584
ABC Loan Inc 109 N Oregon St 206, El Paso, TX 79901 +1 (915) 532 - 7137

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Eola, TX, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Mesquite, TX, Payday Loans in Midland, TX, 24-Hour Loan in Mission, TX, Payday Loans in Missouri City, TX, Same Day Loans in Nacogdoches, TX, Payday Loans in New Braunfels, TX, Payday Loans in North Richland Hills, TX and Payday Loans in Odessa, TX. 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 Eola, TX.

Are Payday Loans Legal In Eola, Texas?

Loan Rates and Fees, Laws and Regulations in Texas.

Texas Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)662
Maximum Loan AmountNot Specified
Minimum Loan Term7 days
Maximum Loan TermVaries
Number of Rollovers Allowed0
Finance Charges>$30 => $1 for each $5 [$30 – $100] => 1/10 of the loan amount + $3 /mo (<$35) [$35 – $70] => $3.50/mo + $4/mo (>$70) >$100 => $10 + $4/mo for each $100

Eola, TX payday loan calculator

Understanding Payday Loans in Eola, Texas

Life is unpredictable, and emergencies can happen to anyone. From a medical emergency or a car breakdown to an unexpected repair bill, financial stress can hit hard. Payday loans can offer a solution to your short-term financial troubles. But before you decide to take out a payday loan, it’s essential to understand what they are, how they work, and the regulations around them.

What is a Payday Loan?

A payday loan is a short-term loan designed to help people in need of quick cash. It is typically due on the borrower’s next payday, which is why it’s called a payday loan. The amount a borrower can get ranges from $100 to $1500, depending on the state. The interest rate is typically high, and the loan period is usually two weeks.

Getting a Payday Loan in Eola, Texas

Payday loans are legal in Texas, but the state has strict regulations to protect consumers. In Eola, Texas, the laws governing payday loans state that lenders cannot charge more than 10% annual interest on the loan. The loan term must be at least seven days, and the loan amount cannot exceed 20% of the borrower’s gross monthly income.

Benefits of a Payday Loan

Payday loans can provide quick cash when you need it most. They are easy to apply for, and you can get the money you need within minutes. If used responsibly, payday loans can be a valuable tool to help get through a financial emergency.

Risks of a Payday Loan

Payday loans are a high-cost form of credit, and they can trap borrowers in a cycle of debt. The interest rates are high, and the repayment period is short, which can make it difficult for borrowers to pay off the loan on time. If the borrower can’t pay off the loan on time, they may be forced to roll over the loan, which can lead to more debt.

Interesting Facts and Statistics About Payday Loans in Eola, Texas

  • The average payday loan in Texas is $470, and the average APR is 662%.
  • In Eola, Texas, there are six payday lenders for every 10,000 residents, making it one of the highest ratios in the state.
  • According to a report by the Texas Fair Lending Alliance, payday lenders in Texas collected $1.4 billion in fees and interest in 2019.

Apply Now

If you’re considering a payday loan in Eola, Texas, TheGuaranteedLoans can help connect you with potential lenders. We understand that life is unpredictable and emergencies can happen at any time. Our online application is quick and easy, and you can get a decision within minutes. Please note that we are a connector service and not a direct lender. We will facilitate your connection with potential lenders who may offer you the loan you need.

Conclusion

Payday loans can be a quick solution to unexpected expenses, but they come at a high cost. It’s essential to understand the terms and regulations surrounding payday loans in Eola, Texas, before you decide to take out a loan. If you do decide to take out a payday loan, make sure to borrow responsibly and pay off the loan on time to avoid getting trapped in a cycle of debt.

F.A.Q.

Are there any restrictions on how I can use the funds from a payday loan in Eola, Texas?

No, borrowers are free to use the funds from a payday loan in Eola, Texas for any purpose. However, it is important to remember that these loans should only be used for short-term financial emergencies and not for long-term financial planning.

What are the consequences of defaulting on a payday loan in Eola, Texas?

If a borrower defaults on a payday loan in Eola, Texas, the lender may pursue collection efforts, including contacting the borrower's employer, contacting third-party debt collectors, or taking the borrower to court. Defaulting on a payday loan can also have a negative impact on the borrower's credit score.