Payday Loans in Melvin, Texas

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

Company nameAddressZip codePhone number
Security Finance 311 E Main St, Rio Grande City, TX 78582 +1 (956) 487 - 3925
Sun Loan Company 1206 W Monte Cristo Rd Ste B, Edinburg, TX 78541 +1 (956) 720 - 4324
World Finance 911 1/2 N Hewitt Dr, Hewitt, TX 76643 +1 (254) 666 - 2725
Raymond James Financial Services 801 Ave F, Levelland, TX 79336 +1 (806) 894 - 5358
Fast A Loans 1343 W San Antonio St, New Braunfels, TX 78130 +1 (830) 643 - 0295
Federal Finance Corporation of Texas 303 W Grand Ave, Marshall, TX 75670 +1 (903) 938 - 5161
Security Finance 4501 N State Line Ave Suite 108, Texarkana, TX 75503 +1 (903) 793 - 5543
South Texas Federal Credit Union 2121 W Dove Ave, McAllen, TX 78504 +1 (956) 618 - 7500
World Finance 1900 SE 34th Ave Unit 1600, Amarillo, TX 79118 +1 (806) 371 - 8900
Woodforest National Bank 18535 Farm to Market Rd 1488 #110, Magnolia, TX 77355

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Melvin, TX, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Without a Credit Check in Abilene, TX, Short-term Loans in Allen, TX, Payday Loans in Amarillo, TX, Payday Loans in Arlington, TX, Quick Loan in Austin, TX, Emergency Loan in Baytown, TX, 24-Hour Loan in Beaumont, TX and Payday Loans in Bedford, 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 Melvin, TX.

Payday Loans Available in Melvin, TX By The Following ZIP Codes:

76858

Are Payday Loans Legal In Melvin, 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

Melvin, TX payday loan calculator

Payday Loans in Melvin, Texas: A Comprehensive Guide

Payday loans are one of the most popular loan options in the United States. They are small, short-term loans that help individuals get through financial emergencies until their next paycheck. In Melvin, Texas, payday loans are legal, and many lenders offer this service to residents.

What are Payday Loans?

Payday loans are unsecured loans that are typically offered to people who need cash quickly. They are designed to be repaid in full on the borrower’s next payday. The loan amount is usually between $100 and $1,000, although it can be higher or lower depending on the lender.

The process of applying for a payday loan is straightforward and typically doesn’t involve a credit check. To qualify for a payday loan, a borrower generally needs to have a job, a checking account and be over 18 years old. Once approved, the funds are deposited into the borrower’s checking account, and the borrower is expected to repay the loan, plus interest and fees, on their next payday.

How do Payday Loans Work in Melvin, Texas?

In Melvin, Texas, payday loans are legal and regulated by the Texas Office of Consumer Credit Commissioner (OCCC). The OCCC has established rules that lenders must follow, including limits on the loan amount, interest rates, and fees.

The maximum loan amount in Texas is $1,800, and the maximum term is 180 days for most lenders. The interest rate is capped at 10% of the loan amount and can be no higher than 48% APR. There are also additional fees that lenders can charge, such as a loan origination fee, late payment fee, or prepayment penalty.

Before taking out a payday loan in Melvin, Texas, it’s important to understand the terms and conditions of the loan, including the interest rate and fees. Borrowers should also make sure they can repay the loan on time to avoid additional fees or damage to their credit score.

The Pros and Cons of Payday Loans

Payday loans offer several benefits, such as:

  • Easy qualification process
  • Fast approval time
  • No credit check required

However, payday loans also have some disadvantages, such as:

  • High-interest rates and fees
  • Short repayment term
  • Potential for debt cycle

Interesting Facts about Payday Loans in Melvin, Texas

  • According to the Texas Fair Lending Alliance, the average APR for a payday loan in Texas is 574%.
  • In Melvin, Texas, there are multiple payday loan storefronts, offering a variety of loan options.
  • Payday loans can be a source of financial stress for individuals who cannot repay the loan on time.

Apply Now

If you need a payday loan in Melvin, Texas, TheGuaranteedLoans can help. We are a connector service, not a direct lender. We will facilitate your connection with potential lenders who can offer you a payday loan that meets your needs. Our application process is fast and easy. Simply fill out our online application to get started.

Remember, before taking out a payday loan, be sure to understand the terms and conditions of the loan and make sure you can repay it on time. Payday loans should only be used for emergencies and not as a long-term financial solution.

F.A.Q.

Do I need to have a checking account to take out a payday loan in Melvin, Texas?

Yes, most payday lenders in Melvin, Texas require borrowers to have a checking account in order to apply for a loan. This is because the loan amount and fees will be automatically deducted from the borrower's account on the due date.

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

No, borrowers are free to use the funds from a payday loan in Melvin, 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.