Payday Loans in Metcalf, Illinois

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

Company nameAddressZip codePhone number
Union Federal Savings & Loan 357 Avenue of the Cities, East Moline, IL 61244 +1 (309) 755 - 1426
Fairway Independent Mortgage Corporation 3400 W Stonegate Blvd Suite 101, Suite 101, Arlington Heights, IL 60005 +1 (847) 845 - 6899
TitleMax Title Loans 933 E Sibley Blvd, Dolton, IL 60419 +1 (708) 841 - 5280
Vibrant Credit Union - SouthPark 4400 16th St, Moline, IL 61265 +1 (309) 796 - 7500
Payday Loans Naperville 925, S 248th St, Naperville, IL 60564
JMA Pawn Jewelry & Loan 115 N Webster St, Taylorville, IL 62568 +1 (217) 824 - 3322
Associated Bank 208 Oak Creek Plaza, Mundelein, IL 60060 +1 (847) 949 - 9000
Cyr Financial 220 E High St 102, Hennepin, IL 61327 +1 (815) 925 - 7501
Farmers State Bank of Hoffman 100 W 4th St, Hoffman, IL 62250 +1 (618) 495 - 2225
Security Finance 2222 Plainfield Rd UNIT A, Crest Hill, IL 60403 +1 (815) 773 - 9438

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Metcalf, IL, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Oswego, IL, 24-Hour Loan in Palatine, IL, 24-Hour Loan in Park Ridge, IL, Bad Credit Loans in Pekin, IL, Emergency Loan in Peoria, IL, Short-term Loans in Plainfield, IL, Payday Loans in Quincy, IL and No Credit Check Loans in Rock Island, 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 Metcalf, IL.

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

61940

Are Payday Loans Legal In Metcalf, 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

Metcalf, IL payday loan calculator

Payday Loans in Metcalf, Illinois: Everything You Need to Know

If you are living in Metcalf, Illinois, and are facing a financial emergency, you might be considering applying for a payday loan to tide you over until your next paycheck comes in. While payday loans can be a great option during times of financial distress, it is advisable to understand the ins and outs of these short-term loans before taking out one. In this article, we will tell you everything you need to know about payday loans in Metcalf, Illinois.

What are Payday Loans?

A payday loan is a short-term, high-interest loan that is designed to be repaid within a few weeks, or on the borrower’s next payday. These loans are often sought out by individuals who need quick cash to cover unexpected expenses or emergencies, such as medical bills or car repairs.

Are Payday Loans Legal in Metcalf, Illinois?

Yes, payday loans are legal in Metcalf, Illinois. In fact, Illinois has one of the most borrower-friendly payday loan laws in the United States. Under the Illinois Payday Loan Reform Act, borrowers can take out loans of up to $1000 or 25% of their gross monthly income, whichever is lower. The loan term must be between 13 and 120 days and cannot be extended or renewed. The maximum finance charge is $15.50 per $100 borrowed, and the APR cannot exceed 400%.

How Do Payday Loans Work?

The process of obtaining a payday loan in Metcalf, Illinois is relatively simple. All you need to do is provide the lender with a postdated check for the loan amount plus fees, or authorize them to electronically withdraw the funds from your bank account on the due date. In exchange, the lender will advance you the cash you need, with the expectation that you will repay the loan on time.

What Are the Costs Associated with Payday Loans?

Payday loans are associated with high costs, including fees and interest charges that can add up quickly. The finance charge on an Illinois payday loan is typically $15.50 per $100 borrowed. For example, if you borrow $300, you will have to repay $346.50 on the due date.

What Are the Risks of Payday Loans?

While payday loans can be a useful tool for managing short-term financial emergencies, there are also risks associated with these loans. High interest rates, fees, and late payment penalties can quickly add up, making it difficult to repay the loan on time. Defaulting on a payday loan can result in negative impacts on your credit score, as well as additional fees and collection calls.

Apply Now

If you are looking for a payday loan in Metcalf, Illinois, TheGuaranteedLoans is here to help. We are a connector service, not a direct lender, and we work with a network of trusted lenders to help you find the loan that meets your needs. Simply fill out our online application form, and we will match you with potential lenders in our network. Once connected with a lender, you can review the terms of the loan and decide whether to accept the loan.

Interesting Facts and Statistics about Payday Loans in Metcalf, Illinois

– According to the Illinois Department of Financial and Professional Regulation, there were 1,458,219 payday loans issued in Illinois in 2019, totaling $1.32 billion in loans.

– The average payday loan amount in Illinois is $365, with an average finance charge of $56.25.

– In Illinois, the average payday loan borrower takes out eight loans per year.

– Under the Illinois Payday Loan Reform Act, lenders are required to offer repayment plans to borrowers who have taken out three or more consecutive payday loans.

The Bottom Line

Payday loans can provide a quick and easy solution to your financial emergency, but it is important to understand the risks and costs associated with these loans. If you decide to take out a payday loan, be sure to borrow only what you need and have a plan in place to repay the loan on time. And remember, TheGuaranteedLoans is here to help you find the best loan option for your needs.

F.A.Q.

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

To qualify for a payday loan in Metcalf, 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 Metcalf, Illinois?

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