Payday Loans in Frederick, Illinois

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

Company nameAddressZip codePhone number
Check Into Cash 3024 Belvidere Rd, Waukegan, IL 60085 +1 (847) 782 - 5719
Bright Way Loans 50 S Washington St Ste 204, Hinsdale, IL 60521 +1 (630) 410 - 1403
First Federal Savings & Loan 1116 Maine St, Windsor, IL 61957 +1 (217) 459 - 5626
Raymond James Financial Services 4415 Martin Luther King Blvd, Alton, IL 62002 +1 (618) 467 - 6700
Sun Loan Company 1000 Leigh Ave Ste E, Anna, IL 62906 +1 (618) 833 - 6900
Jefferies 155 N Upper Wacker Dr, Chicago, IL 60606 +1 (312) 750 - 4700
Marion County Savings Bank 301 W Main St, Salem, IL 62881 +1 (618) 548 - 3440
Check 'n Go 18226 Kedzie Ave, Hazel Crest, IL 60429 +1 (708) 922 - 0100
A-Z CREDIT LENDERS 96 N Eastwood Dr, Woodstock, IL 60098 +1 (815) 206 - 5668
Loan Machine 1567 Sibley Blvd, Calumet City, IL 60409 +1 (708) 730 - 1100

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Frederick, IL, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Chicago Heights, IL, Payday Loans in Crystal Lake, IL, Guaranteed Loans in Danville, IL, Guaranteed Loans in Decatur, IL, Payday Loan Without a Credit Check in Dekalb, IL, Online Loans in Des Plaines, IL, Short-term Loans in Downers Grove, IL and Payday Loans in Dundee, 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 Frederick, IL.

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

62639

Are Payday Loans Legal In Frederick, 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

Frederick, IL payday loan calculator

Payday Loans in Frederick, Illinois

Payday loans are a type of short-term loan that is designed to help people with unexpected financial emergencies. They are typically small loans with high-interest rates that must be repaid within a few weeks. While payday loans are legal in Illinois, some cities or counties may impose additional regulations or restrictions. In this article, we will explore the world of payday loans in Frederick, Illinois.

How Payday Loans Work in Frederick, Illinois?

In Frederick, Illinois, individuals interested in applying for payday loans must meet certain criteria. This includes being at least 18 years of age, having a valid government-issued ID, being a U.S. citizen or permanent resident, and having a regular source of income. The application process is simple and typically involves completing an online application or visiting a local lender in person.

Once approved, borrowers can receive loans ranging from $100 to $1,000. Loans are usually due on the borrower’s next payday, which may range from two to four weeks. The lenders may charge an annual percentage rate (APR) of up to 400% on these loans, so it is important that borrowers repay them on time to avoid any additional fees or penalties.

Benefits of Payday Loans in Frederick, Illinois

While payday loans may have high-interest rates, they can be helpful in certain situations. They offer quick access to cash, which can be helpful in emergencies, such as an unexpected medical expense or car repair. Payday loans can also be valuable to individuals who may not qualify for traditional loans because of their credit score or financial history.

Risks of Payday Loans in Frederick, Illinois

Payday loans can have some risks, particularly when they are not used responsibly. The high-interest rates associated with these loans can make them difficult for borrowers to repay, creating a cycle of debt. In addition, payday lenders may not always be transparent about the fees and terms of their loans, which can lead to additional financial hardships for borrowers.

It is important for borrowers to understand the risks and benefits of payday loans before applying for one. They should always read the terms and conditions of the loan carefully and ensure they can repay it on time.

Apply Now

If you are interested in applying for a payday loan in Frederick, Illinois, you can begin by completing an application on TheGuaranteedLoans website. We are a connector service and our mission is to help connect borrowers with potential lenders. By filling out our online application, you can get connected with a lender who may be able to provide you with the loan you need. Please note that we are not a direct lender and we do not make any credit decisions.

Interesting Facts and Statistics

  • In 2019, the average payday loan amount in Illinois was $365.63.
  • The average APR for payday loans in Illinois in 2019 was 297.69%.
  • According to the Illinois Department of Financial and Professional Regulation, there were 1,557,465 payday loans made to Illinois residents in 2019.
  • The number of payday lenders in Illinois decreased from 1,072 in 2006 to 563 in 2015.

Conclusion

Payday loans can be a helpful resource for people facing unexpected financial emergencies in Frederick, Illinois. However, it is important to understand the risks and benefits associated with these loans before applying for one. If you do choose to apply for a payday loan, be sure to read the terms and conditions carefully and ensure you can repay the loan on time.

F.A.Q.

How do payday loans work in Frederick, Illinois?

To obtain a payday loan in Frederick, Illinois, borrowers typically have to provide proof of income, a valid ID, and a checking account. The lender will then advance the borrower a small amount of money, typically up to $1,000, which must be repaid on the borrower's next payday. The loan will typically include fees and interest charges, which can make it expensive to repay.

Are payday loans legal in Frederick, Illinois?

Yes, payday loans are legal in Frederick, Illinois, but they are subject to certain regulations designed to protect borrowers from predatory lending practices. For example, Illinois law limits the amount of interest and fees that can be charged on payday loans, and it requires lenders to disclose the terms of the loan to the borrower before the loan is made.