What is a Payday Loan?
A payday loan is a short-term loan that typically ranges between $100 and $1,000. These loans are designed to help provide financial assistance to those who need quick access to cash. Payday loans are usually due back on your next payday.
Are Payday Loans Legal in Athens, AL?
Yes, payday loans are legal in Athens, AL, as long as the loan amount is not more than $500 and the loan is not for more than 31 days. Payday loans are regulated by the state of Alabama and lenders must follow the regulations set by the state when offering payday loans to a borrower.
What is the Interest Rate for Payday Loans in Athens, AL?
The interest rate for payday loans in Athens, AL is generally fixed at 17.5%. This rate applies to the amount of the loan, any fees and the length of the loan term. The annual percentage rate, or APR, for payday loans in Athens, AL is typically 456% for a two-week loan.
How Do I Qualify for a Payday Loan in Athens, AL?
In order to qualify for a payday loan in Athens, AL, borrowers must meet the following criteria:
- Must be at least 18 years of age
- Have an active checking account
- Have a valid government-issued ID or driver’s license
- Provide proof of income
How Much Does a Payday Loan in Athens, AL Cost?
The cost of a payday loan in Athens, AL will vary depending on the amount of the loan, the length of the loan term, and any additional fees that may be charged by the lender. Generally, lenders charge a fee for each $100 borrowed, up to $500. The finance charge for a 14-day $100 loan is $17.65, for a 31-day $100 loan is $37.65 and for a 62-day $100 loan is $57.65.
What is TheGuaranteedLoans?
TheGuaranteedLoans is a website dedicated to helping people with their loan needs. We are not a direct lender, but rather a free service offering to connect people with lenders. We help you find the right lender for your financial needs, whatever they may be.
How Does TheGuaranteedLoans Work?
TheGuaranteedLoans makes it easy for people to get the funds they need quickly. We have a simple online application that only takes a few minutes to fill out. Once you submit your information, we will connect you with potential lenders who may be able to provide you with the loan you need. All you have to do is fill out the form and we will take care of the rest.
F.A.Q. About Payday Loans in Athens, AL
Q: What are the maximum loan amounts allowed in Athens, AL?
A: The maximum loan amount allowed in Athens, AL is $500.
Q: How long do I have to pay back my loan?
A: Generally, payday loans must be paid back within 31 days. The exact time frame will depend on the lender.
Q: What fees will I be charged for a payday loan?
A: Fees for payday loans vary depending on the lender and the amount of the loan. Generally, lenders will charge a fee for each $100 borrowed, up to $500. For example, the finance charge for a 14-day $100 loan is $17.65, for a 31-day $100 loan is $37.65 and for a 62-day $100 loan is $57.65.
Q: What happens if I can’t pay back my loan?
A: If you cannot pay back your loan on time, you should contact the lender immediately to discuss your situation. Many lenders will offer an extension if you are unable to make the payment, but they may also charge additional fees.
Apply Now
If you need a payday loan in Athens, AL, TheGuaranteedLoans can help you find the right lender for your financial needs. We will connect you with potential lenders who may be able to offer you the funds you need. All you have to do is fill out our simple online application and we will take care of the rest. So, don’t wait – get the money you need today with TheGuaranteedLoans!