Payday Loans in Stanford, Indiana

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

Company nameAddressZip codePhone number
First Farmers Bank & Trust 1004 Cass St, Wabash, IN 46992 +1 (260) 563 - 1196
Personal Finance Company 518 W Broadway St # 1, Princeton, IN 47670 +1 (812) 385 - 1141
Check n' Go 265 Morthland Dr., Unit B, Valparaiso, IN 46385 +1 (219) 465 - 6840
First State Bank 111 S Main St, Middlebury, IN 46540 +1 (574) 825 - 2166
First Financial Bank 309 National Ave, West Terre Haute, IN 47885
Check Into Cash 4000 E Market St, Logansport, IN 46947 +1 (574) 735 - 2200
Dupont State Bank 10525 NW Front St, Dupont, IN 47231 +1 (812) 273 - 2285
Community State Bank 506 E North St, Kendallville, IN 46755 +1 (260) 347 - 9000
Advance America 3271 W 3rd St, Bloomington, IN 47404 +1 (812) 334 - 2648
Weatherhead Federal Credit N Line St, Columbia City, IN 46725 +1 (260) 248 - 8309

Payday Loan Companies in Nearby Cities

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

Payday Loans Available in Stanford, IN By The Following ZIP Codes:

94301, 94304, 94305, 94309

Are Payday Loans Legal In Stanford, 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%

Stanford, IN payday loan calculator

Understanding Payday Loans in Standford, Indiana

If you are a resident of Stanford, Indiana, and are in dire need of cash, you may wish to consider applying for a payday loan. Payday loans are short-term loans that can help cover unexpected expenses or bridge the gap until your next paycheck. These loans are legal in Indiana and can be a temporary solution for those in need of quick cash.

How Do Payday Loans Work?

Payday loans enable borrowers to take out a short-term loan in exchange for a post-dated check or electronic access to their bank account. The loan amount usually does not exceed $1,000, but can vary depending on the lender. The loan term is typically 14 days, which is the time it takes until the borrower’s next paycheck. However, this can vary as well, depending on the lender’s terms and the borrower’s financial situation.

It is important to note that payday loans usually come with high interest rates and fees, making them an expensive option for borrowing money. As such, borrowers are encouraged to only take out a payday loan if it is absolutely necessary and to make sure they can repay the loan on time to avoid incurring additional fees.

The Application Process

To apply for a payday loan in Stanford, Indiana, borrowers must meet certain eligibility criteria. These vary depending on the lender but typically include being at least 18 years old, having a valid government-issued ID, and proof of income or employment.

The application process for payday loans is typically quick and easy, with many lenders offering online applications. Borrowers are required to provide personal information, such as their name, address, and social security number, as well as employment information.

Once the application is approved, the lender will disburse the loan either through a post-dated check or electronic transfer to the borrower’s bank account. Borrowers are then responsible for repaying the loan, with fees and interest, on the agreed-upon due date.

Interest Rates, Fees, and Repayment

Payday loans in Stanford, Indiana, usually come with high-interest rates and fees as they are considered high-risk loans. The interest rates can range from as low as 15% to as high as 391%, with the average interest rate being around 391%.

Borrowers should also be aware of additional fees that may be charged, such as origination fees, late fees, and prepayment penalties. These fees can quickly add up and make the loan even more expensive.

Most payday lenders in Indiana use a practice called rollover, where they extend the loan term and charge additional interest and fees. It is crucial for borrowers to avoid this practice as it can lead to a cycle of debt and financial hardship.

Failure to repay a payday loan on time can result in additional fees, legal action, and damage to the borrower’s credit score. To avoid these consequences, borrowers should only take out a payday loan if they are confident they can repay it on time.

Interesting Facts About Payday Loans in Stanford, Indiana

  • Indiana has some of the most relaxed payday loan regulations in the US, leading to a high concentration of payday lending storefronts in the state.
  • The average payday loan amount in Indiana is $326, with an average interest rate of 382%.
  • In 2020, Indiana payday loan volume reached $1.3 billion, with an estimated 400,000 unique borrowers.
  • Statistically, payday loans are most commonly used for everyday expenses like rent, groceries, and car payments.
  • Payday lending has been a heavily debated topic in Indiana, with many advocating for stricter regulations to protect vulnerable borrowers from predatory lending practices.

Apply Now

If you are in need of quick cash in Stanford, Indiana, TheGuaranteedLoans can help you connect with potential lenders who offer payday loans. As a connector service, we make the process of finding a lender easy and convenient. Simply fill out our online application to get started. Remember, payday loans should only be used as a last resort and should be repaid on time to avoid additional fees and financial hardship.

F.A.Q.

Are there any restrictions on how I can use the money from a payday loan in Stanford, Indiana?

The funds from a payday loan in Stanford, Indiana must be used for a short-term financial need and cannot be used for long-term expenses or investments.

What are the fees associated with a payday loan in Stanford, Indiana?

The fees for a payday loan in Stanford, Indiana are capped at 15% of the loan amount, plus a $1 database fee.