Payday Loans in Merrimac, Wisconsin

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No payday loan companies in Merrimac, WI. Consider companies in other cities:

Company nameAddressZip codePhone number
Becky Stritt Fairway Mortgage 1823 E, Geneva St Suite J, Delavan, WI 53115 +1 (262) 949 - 5754
Security Finance 4688 Cottage Grove Rd, Madison, WI 53716 +1 (608) 221 - 4483
Johnson Financial Group 340 S Main St, Rice Lake, WI 54868 +1 (715) 736 - 4700
Peoples State Bank 1609 Elm St, Boscobel, WI 53805 +1 (608) 375 - 4484
EZ Money 2003 Marinette Ave A, Marinette, WI 54143 +1 (715) 732 - 9506
Tri-State Financial Services 1480 WI-16, West Salem, WI 54669 +1 (608) 786 - 5100
BMO Harris Bank 388 W Main St, Ellsworth, WI 54011 +1 (715) 273 - 3940
MoneyGram 2372 Jackson St, Stoughton, WI 53589 +1 (608) 877 - 0713
Royal Bank 201 E Bridge St, New Lisbon, WI 53950 +1 (608) 562 - 5131
Loanmax Title Loans 1306 Belknap St, Superior, WI 54880 +1 (715) 392 - 7771

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Merrimac, WI, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in New Berlin, WI, Payday Loans in Oak Creek, WI, Guaranteed Loans in Oshkosh, WI, Payday Loans in Racine, WI, Payday Loans in Sheboygan, WI, Same Day Loans in Sun Prairie, WI, Quick Loan in Waukesha, WI and Payday Loans in Wausau, WI. 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 Merrimac, WI.

Beautiful sights of Merrimac, WI

Payday Loans Available in Merrimac, WI By The Following ZIP Codes:

53561

Are Payday Loans Legal In Merrimac, Wisconsin?

Loan Rates and Fees, Laws and Regulations in Wisconsin.

Wisconsin Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)574
Maximum Loan Amount$1,500 (or 35% of the gross monthly income)
Minimum Loan TermNot Specified
Maximum Loan Term90 days
Number of Rollovers Allowed1
Finance Charges2.75%/mo

Merrimac, WI payday loan calculator

Payday Loans in Merrimac, Wisconsin

If you’re in need of fast cash in Merrimac, Wisconsin, you may be considering a payday loan. Payday loans are a type of short-term loan that are typically easier to qualify for than traditional bank loans. They can be a helpful financial resource if you need cash quickly, but they can also be risky if not used responsibly. In this guide, we’ll provide an overview of payday loans in Merrimac, Wisconsin, and help you determine if they’re the right option for your financial needs.

How Payday Loans Work in Merrimac, Wisconsin

Payday loans are legal in Wisconsin, and they work like this: you borrow a small amount of money, typically between $100 and $1,500, and pay it back with your next paycheck plus any interest and fees. Payday loans are often marketed as a way to cover unexpected expenses like car repairs or medical bills. In Merrimac, Wisconsin, payday lenders must comply with state regulations that dictate the maximum loan amount, term, and fees.

Payday Loan Regulations in Merrimac, Wisconsin

The Wisconsin Department of Financial Institutions regulates payday lenders in Merrimac, Wisconsin. The state imposes limits on the amount of money you can borrow, the length of the loan term, and the fees that lenders can charge. For example:

  • The maximum loan amount in Wisconsin is 35% of your monthly income, up to a maximum of $1,500
  • The maximum loan term is 90 days
  • Lenders can charge up to $20 in fees for every $100 borrowed

It’s important to understand that payday loans can be very expensive, with interest rates that can soar to 500% or more. Be sure to carefully review the fees and terms associated with any loan offer before accepting it.

Pros and Cons of Payday Loans in Merrimac, Wisconsin

As with any financial product, payday loans have their pros and cons. Some of the advantages of payday loans include:

  • Easy to qualify for – you typically only need a steady income and an active bank account to be approved for a payday loan in Merrimac, Wisconsin
  • Fast access to cash – you can often get the money you need within a day or two of applying
  • No collateral required – payday loans are unsecured loans, which means you don’t need to provide any collateral

However, there are also several disadvantages to payday loans:

  • High fees and interest rates – payday loans can be very expensive, with fees and interest rates that can push the total cost of borrowing into the hundreds or even thousands of dollars
  • Short repayment terms – payday loans are typically due on your next payday, which can make it difficult to pay back the loan in full and on time
  • Potential for debt trap – if you can’t pay back the loan on time, you may be tempted to roll it over into a new loan, which can lead to a cycle of debt

Interesting Facts about Payday Loans in Merrimac, Wisconsin

Did you know that in 2019, Wisconsin payday lenders made over 1.1 million loans, totaling more than $400 million? That’s a lot of money! However, payday loans are controversial, with some advocates arguing that they are a valuable financial resource for people with poor credit or limited options, while others contend that they exploit vulnerable consumers and lead to financial ruin.

Apply Now

If you’re considering a payday loan in Merrimac, Wisconsin, it’s important to carefully weigh the pros and cons and ensure that you have a plan for paying back the loan on time. At TheGuaranteedLoans, we can help connect you with potential lenders who may be able to offer you a loan. Our online application is quick and easy to fill out, and we only work with reputable lenders who comply with all state and federal regulations. Apply now and take the first step toward getting the cash you need to cover your expenses.

F.A.Q.

Can payday loan providers require me to undergo a credit check to apply for a loan in Merrimac, Wisconsin?

Yes, payday loan providers in Merrimac, Wisconsin may require you to undergo a credit check to apply for a loan. This is to assess your creditworthiness and determine whether you are eligible for a loan. However, payday loans are typically available to borrowers with poor or no credit, so a credit check is not always necessary.

Can payday loan providers require me to sign a contract or agreement to apply for a loan in Merrimac, Wisconsin?

Yes, payday loan providers in Merrimac, Wisconsin may require you to sign a contract or agreement to apply for a loan. This will outline the terms and conditions of the loan, including the interest rate, fees, and repayment terms. It is important to read and understand the contract before signing it, and to seek legal advice if you have any questions.