Payday Loans in Oark, Arkansas

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No payday loan companies in Oark, AR. Consider companies in other cities:

Company nameAddressZip codePhone number
ACE Cash Express 310 S Broadway St, Little Rock, AR 72201 +1 (501) 370 - 9488
Simmons Bank 10425 Stagecoach Rd, Little Rock, AR 72210 +1 (501) 320 - 2220
Farm Credit of Western Arkansas - Hope 1722 E 3rd St, Hope, AR 71801 +1 (870) 777 - 6704
Arvest Bank 709 W Fleeman St, Manila, AR 72442 +1 (870) 561 - 1121
Centennial Bank 1300 W Beebe Capps Expy, Searcy, AR 72143 +1 (501) 207 - 4400
First National Bank 912 Southwest Dr, Jonesboro, AR 72401 +1 (870) 974 - 9800
Liberty Bank Of Arkansas 1895 Harrison St, Batesville, AR 72501 +1 (870) 307 - 6900
Batesville Title Services 248 E Main St, Batesville, AR 72501 +1 (870) 793 - 5700
Grand Savings Bank 101 S Gentry Blvd, Gentry, AR 72734 +1 (479) 736 - 2686
Money Corner 621 Ohio St, Pine Bluff, AR 71601 +1 (870) 534 - 1621

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Oark, AR, you can try to find different companies in big cities near by. Check out the following pages here: Same Day Loans in Sherwood, AR, Payday Loans in Springdale, AR, Payday Loans in Texarkana, AR, Payday Loans in Benton, AR, Payday Loans in Bentonville, AR, Payday Loans in Conway, AR, Quick Loan in Fayetteville, AR and Payday Loans in Fort Smith, AR. 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 Oark, AR.

Useful Articles

Are Payday Loans Legal In Oark, Arkansas?

Payday Lending is Prohibited in Arkansas

Arkansas Loan Regulations

Legal StatusProhibited
Interest Rate (APR, %)Prohibited
Maximum Loan AmountProhibited
Minimum Loan TermProhibited
Maximum Loan TermProhibited
Number of Rollovers AllowedProhibited
Finance ChargesProhibited

Oark, AR payday loan calculator

Advise to read before applying

Understanding Payday Loans in Oark, Arkansas

Payday loans have become increasingly popular over the years throughout the United States, providing quick cash for borrowers who need it. However, it’s important to know that payday loans are prohibited in Arkansas, including in the city of Oark, which is located in the state’s northwestern region. In this article, we’ll discuss why these loans have been banned in Arkansas and what alternatives are available for borrowers in need.

Why are Payday Loans Prohibited in Oark, Arkansas?

Payday loans have been banned in Arkansas since 2008 due to their predatory nature and high interest rates. In fact, Arkansas has some of the toughest regulations when it comes to payday lending, with the state attorney general having shut down numerous lenders over the years for violating state laws. The maximum interest rate that can be charged on a loan in Arkansas is 17%, which is significantly lower than the triple-digit rates charged by payday lenders in other states.

Despite the ban, some lenders try to skirt the law by offering online payday loans to Arkansas residents. However, these lenders can still face legal action from the state attorney general’s office and can be fined thousands of dollars for each violation. It’s important for borrowers to be aware of these risks and to only work with reputable, licensed lenders.

Alternatives to Payday Loans

With payday loans off the table in Oark, borrowers may be wondering what other options are available to them. Here are a few alternatives:

  • Personal Loans: Personal loans can be a great option for borrowers who need more cash than what a payday loan can provide. These loans typically have longer repayment terms and lower interest rates, making them a more affordable option in the long run. However, borrowers will need to have good credit and a steady income to qualify for a personal loan.
  • Credit Union Loans: Credit unions are not-for-profit financial institutions that often offer small-dollar loans to their members. These loans can have lower interest rates and fees than traditional payday loans, making them a more affordable option for borrowers. However, borrowers will need to be a member of the credit union and may need to meet other eligibility requirements.
  • Credit Counseling: If borrowers are struggling with debt and can’t afford to make ends meet, they may want to consider working with a credit counseling agency. These agencies can provide financial education and resources, as well as debt management plans to help borrowers get back on track.

Interesting Facts about Payday Loans in Arkansas

  • Arkansas was one of the first states to ban payday loans, with the ban going into effect in 2008.
  • In 2017, the Arkansas Supreme Court ruled that online lenders charging high interest rates to Arkansas residents were in violation of state usury laws.
  • A 2018 report found that the average interest rate on a payday loan in Arkansas was 317%, one of the highest rates in the nation.

Apply Now

While payday loans are prohibited in Oark, borrowers can still apply for other types of loans through TheGuaranteedLoans. As a connector service, we work with a network of reputable lenders to help borrowers find the right loan for their needs. Our online application process is quick and easy, and borrowers can get the money they need in as little as one business day.

Please note that TheGuaranteedLoans is not a direct lender, and we do not make credit decisions or determine loan terms. We simply connect borrowers with potential lenders based on their needs and qualifications. Borrowers should carefully review all loan terms and conditions before accepting a loan offer.

Conclusion

Although payday loans are prohibited in Oark and throughout Arkansas, there are still plenty of alternatives available for borrowers in need. By working with reputable lenders and exploring other loan options, borrowers can get the cash they need without falling into a cycle of debt. If you need a loan, consider working with TheGuaranteedLoans to find the right loan for your needs.

F.A.Q.

Are there any other options for fast cash in Oark, Arkansas?

Consumers in Oark, Arkansas may be able to access funds through a credit union or bank loan, or by using a credit card or personal loan. It is also possible to sell assets or ask friends or family for financial assistance.

Are payday loans legal in Oark, Arkansas?

No, payday loans are prohibited in the state of Arkansas.

Look for Short-Term Loans in Other Cities:

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Customer Notice: Cash advance loans should be used for short-term personal requirements primarily, not as long-term budgetary remedies. Clients together with credit score issues ought to look for credit advice. Subject to state regulations, qualification, credit check, underwriting and approval. Rates, terms and conditions apply

Client Guidance: Payday loans are generally designed as a temporary financial bridge that allows individuals to borrow a modest amount of money until their next paycheck arrives. This type of loan is often used as an immediate financial remedy for unforeseen expenses, especially for those lacking a financial cushion or significant savings. If you find yourself struggling to manage your finances and considering a payday loan, it's crucial to consult with a qualified financial advisor. It's also important to familiarize yourself with the specific payday loan laws in your jurisdiction.

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