Payday Loans in Dowell, Illinois

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No payday loan companies in Dowell, IL. Consider companies in other cities:

Company nameAddressZip codePhone number
World Finance 2365 N Bloomington St, Streator, IL 61364 +1 (815) 673 - 7530
Midland States Bank - CLOSED 660 S Broadway St, Coal City, IL 60416 +1 (815) 634 - 2131
Marine Bank & Trust 410 Buchanan St, Carthage, IL 62321 +1 (217) 357 - 3151
Casey State Bank 305 N Central Ave, Casey, IL 62420 +1 (217) 932 - 2136
Chase Bank 118 Cass St, Woodstock, IL 60098 +1 (815) 338 - 2900
Cash Express of Olney 224 S West St, Olney, IL 62450 +1 (618) 392 - 4900
Check Into Cash 603 Freeport Rd c, Sterling, IL 61081 +1 (815) 626 - 9207
Cash Store 2371 N Bloomington St e, Streator, IL 61364 +1 (815) 672 - 9898
Banterra Bank 124 W Main St, Du Quoin, IL 62832 +1 (618) 542 - 2142
World Finance 912 N Convent St, Bourbonnais, IL 60914 +1 (815) 935 - 5369

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Dowell, IL, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Arlington Heights, IL, Online Loans in Aurora, IL, Online Loans in Bartlett, IL, Payday Loan Without a Credit Check in Belleville, IL, Bad Credit Loans in Berwyn, IL, Short-term Loans in Bloomington, IL, Payday Loans in Bolingbrook, IL and Payday Loans in Buffalo Grove, IL. 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 Dowell, IL.

Payday Loans Available in Dowell, IL By The Following ZIP Codes:

62927

Are Payday Loans Legal In Dowell, Illinois?

Loan Rates and Fees, Laws and Regulations in Illinois.

Illinois Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)404
Maximum Loan Amount$1,000 (or 25% of the gross monthly income)
Minimum Loan Term13 days
Maximum Loan Term120 days
Number of Rollovers Allowed0
Finance Charges15.5% per $100

Dowell, IL payday loan calculator

Understanding Payday Loans in Dowell, Illinois

Life can throw unexpected expenses our way sometimes, and often, we struggle to cover them with our existing paycheck. That’s where payday loans come in to help us tide over until our next payday. In Dowell, Illinois, payday loans are legal and can be a valuable resource for those in need of quick funds.

What are Payday Loans?

Payday loans are short-term loans that are typically due on your next payday. They are meant to help you cover unexpected expenses that you may not have anticipated in your budget. These loans are usually smaller in amount and have higher interest rates than traditional loans because they are designed to be repaid quickly.

Are Payday Loans Legal in Dowell, Illinois?

Yes, payday loans are legal in Dowell, Illinois. The state has set rules and regulations that lenders must follow, including a maximum loan amount of $1,000 or 25% of the borrower’s gross monthly income, whichever is less. The term of the loan cannot exceed 120 days, and lenders are required to provide the borrower with a written agreement outlining the terms and conditions of the loan.

The Application Process for Payday Loans in Dowell, Illinois

Applying for a payday loan in Dowell, Illinois is a straightforward process. Potential borrowers need to be at least 18 years old, have a valid ID and a regular source of income. To apply, borrowers will need to provide personal information, employment information, and bank account details. Once the application is approved, funds are typically deposited into the borrower’s account within 24 hours.

The Benefits of Payday Loans in Dowell, Illinois

  • Quick Access to Funds: Payday loans offer quick access to cash when you need it most. The application process is straightforward, and funds are typically deposited into your account within 24 hours.
  • Flexible Requirements: Payday loans are designed to help people with less than perfect credit scores. The requirements are flexible, and loans can be approved as long as you have a regular source of income.
  • No Restrictions on Use: Unlike traditional loans, payday loans do not come with restrictions on how you can use the funds. This allows you to use the money for the expenses you deem most critical.

Things to Consider Before Applying for a Payday Loan in Dowell, Illinois

While payday loans can be a valuable resource for those in need of quick funds, there are a few things to keep in mind before applying:

  • High-Interest Rates: Payday loans typically carry high-interest rates, which can make them expensive if not repaid on time.
  • Short Loan Terms: Payday loans have shorter repayment terms than traditional loans. Borrowers need to ensure they can repay the loan on time to avoid late penalties and additional interest charges.
  • Debt Cycle: Borrowers need to be careful not to fall into a debt cycle and take out multiple loans to meet their expenses.

Interesting Facts and Statistics About Payday Loans in Dowell, Illinois

According to recent studies, here are some interesting facts and statistics about payday loans in Dowell, Illinois:

  • According to a study, 6.5% of Dowell, Illinois residents have taken out a payday loan in the last 12 months.
  • As of 2021, there are 54 licensed payday loan companies operating in Illinois.
  • The average payday loan amount in Illinois is $354, and the average loan term is 15 days.

Apply Now

If you are in need of quick funds and meet the eligibility criteria mentioned above, you can apply for a payday loan on our website. TheGuaranteedLoans is a connector service that facilitates your connection with potential lenders. Remember, payday loans should only be used for short-term financial needs, and borrowers should ensure they can repay the loan on time to avoid unnecessary fees and charges.

F.A.Q.

How do I qualify for a payday loan in Dowell, Illinois?

To qualify for a payday loan in Dowell, Illinois, borrowers must be at least 18 years old, have a valid ID, and have a steady source of income.

How much can I borrow with a payday loan in Dowell, Illinois?

in Dowell, Illinois, payday loans are typically limited to $1,000 or 25% of the borrower's gross monthly income, whichever is less.