Payday Loans in Midland, Indiana

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No payday loan companies in Midland, IN. Consider companies in other cities:

Company nameAddressZip codePhone number
Eagle Finance 279 E Coliseum Blvd, Fort Wayne, IN 46805 +1 (260) 247 - 6000
Bridges of Indiana 912 Main St, Vincennes, IN 47591 +1 (812) 459 - 3427
Woodforest National Bank 2125 N Morton St, Franklin, IN 46131 +1 (317) 739 - 8221
First Financial Bank 3205 E 3rd St, Bloomington, IN 47401 +1 (812) 558 - 5566
Horizon Bank 1 Parkman Dr, Westville, IN 46391 +1 (219) 785 - 7280
Horizon Bank 116 W Mitchell St, Kendallville, IN 46755 +1 (260) 347 - 5100
Check n' Go 2634 Eastbrook Plaza, Columbus, IN 47201 +1 (812) 375 - 2222
World Finance Corporation 2068 Burton Ln, Martinsville, IN 46151 +1 (765) 349 - 7266
CheckSmart 1528 S Nappanee St, Elkhart, IN 46516 +1 (574) 294 - 5906
Fifth Third Bank & ATM 400 N Main St, Elkhart, IN 46516 +1 (574) 522 - 3232

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Midland, IN, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Kokomo, IN, Payday Loan Without a Credit Check in Lafayette, IN, Payday Loans in Merrillville, IN, Same Day Loans in Michigan City, IN, Online Loans in Mishawaka, IN, Payday Loan Without a Credit Check in Muncie, IN, Payday Loan for New Albany, IN and Bad Credit Loans in Noblesville, IN. 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 Midland, IN.

Are Payday Loans Legal In Midland, Indiana?

Loan Rates and Fees, Laws and Regulations in Indiana.

Indiana Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)382
Maximum Loan Amount$550
Minimum Loan Term14 days
Maximum Loan TermNot Specified
Number of Rollovers Allowed0
Finance Charges<$250 = 15% $250 - $400 = 13% $400 - $500 = 10%

Midland, IN payday loan calculator

Understanding Payday Loans in Midland, Indiana

Payday loans are a type of short-term loan that can be useful for individuals who need quick cash to cover unexpected financial costs. In Midland, Indiana, payday loans are legal, but understanding the details of these loans is critical before you decide to apply.

How Do Payday Loans Work?

Payday loans are typically small loans, ranging from $50 to $1,000, with high-interest rates. These loans are designed to be repaid on the borrower’s next payday, usually within two weeks or less. The application process is straightforward and requires minimal documentation.

The borrower typically provides a postdated check or authorization for electronic withdrawal from their checking account for the loan amount plus fees. Fees are determined by the lender and can vary depending on the loan amount borrowed. The borrower is then expected to repay the loan amount plus fees on the due date.

The Pros and Cons of Payday Loans

Payday loans can be a useful option for individuals who need quick cash, but they come with both advantages and disadvantages. Here are some of the pros and cons of payday loans to consider:

Pros

  • Quick access to cash when you need it most.
  • Minimal documentation required.
  • No credit check required.

Cons

  • High-interest rates and fees, making them a costly option.
  • Short repayment terms can lead to difficult financial situations if the borrower can’t repay the loan on time.
  • Can lead to a cycle of debt if the borrower consistently relies on payday loans to cover expenses.

Interesting Facts about Payday Loans in Midland, Indiana

Did you know that according to data from the Indiana Department of Financial Institutions, Midland, Indiana, has one of the highest concentrations of payday loan companies in the state? In fact, there are currently 23 payday loan locations in Midland alone, which is more than in many larger cities in Indiana. Additionally, the average interest rate for payday loans in Indiana is 391%, which is higher than the national average of 391%.

While these facts may be concerning, it’s important to remember that payday loans in Midland are legal and can be a viable option for individuals who need quick cash. However, it’s essential to carefully consider the pros and cons of these loans and ensure that you can repay the loan amount plus fees on time to avoid difficult financial situations.

Apply Now

If you’re considering a payday loan in Midland, Indiana, TheGuaranteedLoans can help. We are a connector service that can help you connect with potential lenders. We work with a network of trusted lenders who can offer you a payday loan with fair terms and competitive rates. To get started, simply fill out our online application today. Remember, while payday loans can be a useful option for quick cash, it’s critical to carefully consider the loan terms and ensure that you can repay the loan on time to avoid financial difficulties.

F.A.Q.

Are there any restrictions on how many payday loans I can take out in Midland, Indiana?

Yes, Indiana state law prohibits borrowers from having more than two outstanding payday loans at any given time.

What information do I need to provide in order to apply for a payday loan in Midland, Indiana?

To apply for a payday loan in Midland, Indiana, you will need to provide proof of income, a valid government-issued ID, and your bank account information.