Payday Loans in Shellman, Georgia

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No payday loan companies in Shellman, GA. Consider companies in other cities:

Company nameAddressZip codePhone number
TitleMax Title Pawns 4773 Covington Highway, Decatur, GA 30035 +1 (404) 289 - 1860
ACE Cash Express 4420 Altama Ave Ste 36, Brunswick, GA 31520 +1 (912) 554 - 0947
Lendmark Financial Services 911 Market Pl Blvd Suite 12, Cumming, GA 30041 +1 (678) 456 - 5492
Complete Cash 406 E Main St, Dahlonega, GA 30533 +1 (706) 867 - 0078
Personal Finance Co 502 Central Ave S, Tifton, GA 31794 +1 (229) 382 - 2753
Mr Payroll 2221 Shorter Ave, Rome, GA 30165 +1 (706) 295 - 1011
Ameris Bank 162 E Crawford St, Colquitt, GA 39837 +1 (229) 758 - 3461
TitleMax 159 W May St, Winder, GA 30680 +1 (770) 867 - 8629
Cash Finance Co 300 Pine St, Vidalia, GA 30474 +1 (912) 538 - 8575
Check Station 3204 Tucker Norcross Rd, Tucker, GA 30084 +1 (770) 934 - 3230

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Shellman, GA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Redan, GA, Emergency Loan in Rome, GA, 24-Hour Loan in Roswell, GA, Payday Loans in Savannah, GA, Payday Loans in Smyrna, GA, Payday Loans in Statesboro, GA, Payday Loans in Tucker, GA and Emergency Loan in Valdosta, GA. 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 Shellman, GA.

Payday Loans Available in Shellman, GA By The Following ZIP Codes:

31786

Are Payday Loans Legal In Shellman, Georgia?

Payday Lending is Prohibited in Georgia

Georgia Loan Regulations

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

Shellman, GA payday loan calculator

Understanding Payday Loans in Shellman, Georgia

When facing an emergency expense or a financial hardship, many people turn to payday loans as a solution. However, these short-term, high-interest loans are illegal in the state of Georgia, including in Shellman. Despite this, it is important to know what payday loans are, why they are not allowed in Georgia, and what alternatives may be available.

What Are Payday Loans?

Payday loans are a type of short-term loan that are usually due on the borrower’s next payday, hence the name. These loans are typically designed for borrowers who need quick access to cash and have limited options for traditional loans due to bad credit or insufficient income.

To get a payday loan, a borrower must provide proof of income, a valid identification card, and access to their bank account. The loan amount is usually a small amount, ranging from a couple hundred dollars to a few thousand dollars. However, these loans come with high fees and interest rates that can quickly add up over time, making the loan very expensive.

Why Are Payday Loans Prohibited in Georgia?

Payday loans are illegal in Georgia, including Shellman, due to the state’s usury laws and consumer protection regulations. In Georgia, the state law prohibits lenders from charging an annual percentage rate (APR) greater than 60%, making it difficult for payday loan companies to operate legally in the state.

Additionally, the state of Georgia has strict rules on payday lending practices, such as restrictions on loan rollovers and limits on loan amounts and terms. These laws were put in place to help prevent borrowers from getting trapped in cycles of debt caused by payday loans.

Alternatives to Payday Loans

Even though payday loans are illegal in Georgia, there may be alternative options available to borrowers in need of quick cash. These options include:

  • Credit unions or community banks that offer small-dollar loans with reasonable terms and interest rates
  • Personal loans from online lenders or peer-to-peer lending platforms
  • Credit counseling or financial education programs that can help borrowers manage their finances and find other solutions to their financial issues

While these alternatives may not offer the same quick and easy access to cash as payday loans, they can provide borrowers with more sustainable and affordable solutions to their financial problems.

Interesting Facts and Statistics on Payday Loans in Georgia

  • In 2019, the Georgia Supreme Court ruled that out-of-state lenders who lend money to Georgia borrowers over the internet are subject to Georgia’s usury laws and consumer protection regulations, even if the lender does not have a physical presence in Georgia.
  • A 2016 study by the Pew Charitable Trusts found that the average payday loan borrower in Georgia takes out eight loans per year and spends 242 days in debt, paying over $500 in fees for a $300 loan.
  • According to a 2017 report by the Center for Responsible Lending, payday lenders in Georgia charge an average APR of 340% on their loans, with some lenders charging rates as high as 600% or more.

Apply Now

At TheGuaranteedLoans, we understand that financial emergencies can arise at any time, which is why we offer a platform where borrowers can connect with a network of lenders who may be able to provide them with loans with reasonable terms and interest rates. Fill out our secure online application today and get connected with potential lenders who may be able to help you with your financial needs. Please keep in mind that TheGuaranteedLoans is a connector service and not a direct lender.

Don’t let a financial crisis leave you in a difficult situation. Explore your options and make an informed decision.

F.A.Q.

Where can I get more information about payday loans in Shellman, Georgia?

More information about payday loans in Shellman, Georgia can be found on the Georgia State Department of Financial Services website. You can also contact the department directly with any questions or concerns.

Are payday loans available in Shellman, Georgia?

No, payday loans are prohibited in Shellman, Georgia.