Payday Loans in Mazon, Illinois

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

Company nameAddressZip codePhone number
First Bank - Drive Thru Open. Lobby Access by Appt. Only. 117 S State St, Jerseyville, IL 62052 +1 (618) 498 - 2151
Bennie Adams - COUNTRY Financial representative 809 N 1st St, Vienna, IL 62995 +1 (618) 658 - 2881
Brookdale Orland Park 16051 South La Grange Road, Orland Park, IL 60467 +1 (708) 403 - 2001
United States Postal Service 306 Main St, South Pekin, IL 61564 +1 (800) 275 - 8777
National Credit Lenders 157 W 159th St, Harvey, IL 60426 +1 (708) 339 - 7372
1st MidAmerica Credit Union 100 McDonald Dr, Troy, IL 62294 +1 (618) 258 - 3168
Quick Loans America 444 W Lake St STE 1700, Chicago, IL 60606 +1 (855) 649 - 5085
Commerce Bank 1015 W Windsor Rd, Champaign, IL 61821 +1 (217) 359 - 9790
Byline Bank 55 Shuman Blvd 100, Naperville, IL 60563 +1 (630) 348 - 2300
First National Bank in Carlyle 18001 St Rose Rd, Breese, IL 62230 +1 (618) 526 - 2230

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Mazon, IL, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Park Ridge, IL, Payday Loans in Pekin, IL, 24-Hour Loan in Peoria, IL, Payday Loans in Plainfield, IL, Payday Loans in Quincy, IL, Payday Loans in Rock Island, IL, Payday Loan Companies in Rockford, IL and Payday Loans in Romeoville, 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 Mazon, IL.

Beautiful sights of Mazon, IL

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

60444

Are Payday Loans Legal In Mazon, 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

Mazon, IL payday loan calculator

Payday loans have become a popular option for those who need quick cash to cover an unexpected expense. In Mazon, Illinois, payday loans are legal and available to residents who meet the eligibility requirements. This article will explore payday loans in Mazon, Illinois, provide information on the laws and regulations surrounding them, and offer guidance on how to apply for and use them effectively.

How do payday loans work?

Payday loans are a type of short-term loan that is designed to bridge the gap between paychecks. They are usually due within two to four weeks, or on the borrower’s next payday. To obtain a payday loan, the borrower writes a postdated check for the loan amount plus fees, or gives the lender access to their bank account to withdraw the repayment amount on the due date.

Payday loans typically have high-interest rates and fees. According to the Illinois Department of Financial and Professional Regulation, payday loans in Illinois can have an Annual Percentage Rate (APR) of up to 400%. This high APR makes it critical for borrowers to use payday loans only for emergencies and to repay the loan on time in order to avoid additional fees and interest.

Eligibility requirements

In order to qualify for a payday loan in Mazon, Illinois, borrowers must meet the following criteria:

  • Be at least 18 years old
  • Have a regular source of income
  • Have an open and active checking account
  • Provide a valid government-issued ID

It’s important to note that additional eligibility requirements may apply depending on the lender. Borrowers should always review the lender’s requirements before applying for a loan.

Applying for a payday loan

The application process for a payday loan in Mazon, Illinois is relatively simple and straightforward. Borrowers can apply online or in person at a payday loan store. The lender will ask for personal information, income information, and banking information to assess the borrower’s eligibility. If approved, the borrower will receive the loan proceeds in their bank account or on a prepaid debit card.

It’s important for borrowers to carefully review the terms and conditions of the loan before accepting it. This includes the loan amount, repayment period, fees, and APR. Borrowers should also ensure that they have the means to repay the loan on time to avoid additional fees and interest.

Regulations and consumer protection

In Illinois, payday loans are regulated by the Illinois Department of Financial and Professional Regulation. Lenders are required to be licensed and must comply with state laws and regulations. The maximum loan amount in Illinois is $1,000 or 25% of the borrower’s gross monthly income, whichever is less.

Borrowers also have consumer protections under Illinois law. These include the right to rescind the loan within 24 hours, the right to repay the loan early without penalty, and the right to a payment plan to repay the loan in installments if the borrower cannot afford to repay it in full.

TheGuaranteedLoans – your reliable connector service

If you are considering a payday loan in Mazon, Illinois, TheGuaranteedLoans can help. We are a connector service, not a direct lender. We work with a network of reliable lenders to connect borrowers with the best loan option for their needs.

The application process for a payday loan through TheGuaranteedLoans is quick and easy. Simply fill out our online application form, and we will match you with potential lenders who meet your needs. You can review the loan terms and choose the best option for you. Once approved, the loan proceeds will be deposited directly into your bank account.

Interesting facts and statistics

According to a 2019 report from the Illinois Department of Financial and Professional Regulation, payday loans are a popular form of credit for Illinois residents. In 2018, there were 1.51 million payday loans made to Illinois borrowers, totaling $533.3 million in loan volume. The average loan amount was $354, and the average APR was 403%.

Despite the high interest rates and fees associated with payday loans, they can be a useful tool for those who need quick cash to cover an emergency expense. However, it’s important to use them responsibly and to repay them on time to avoid additional fees and interest.

Apply now for a payday loan in Mazon, Illinois

If you need a payday loan in Mazon, Illinois, TheGuaranteedLoans can help. Apply now through our website and connect with our network of reliable lenders. Remember to use payday loans responsibly, and to repay them on time to avoid additional fees and interest.

F.A.Q.

Are there any alternatives to payday loans in Mazon, Illinois?

Yes, there are several alternatives to payday loans in Mazon, Illinois, including traditional bank loans, credit union loans, and community development financial institutions (CDFIs). These alternatives may offer more favorable terms, such as lower interest rates and longer repayment periods, than payday loans.

Can I get a payday loan if I have bad credit in Mazon, Illinois?

Yes, you can typically get a payday loan even if you have bad credit in Mazon, Illinois. Payday lenders do not typically check the borrower's credit history, so a poor credit score will not necessarily prevent you from getting a loan. However, it's important to carefully consider whether a payday loan is the right option for you, as the high fees and interest rates can make it difficult to repay the loan if you are already struggling with credit issues.