Payday Loans in Summitville, Indiana

All Credits Welcome!

If you have a bad credit score, then don’t worry – it’s not an issue for us!

TGL Loan Services

You can get your money fast after filling out the simple form on the "Get Started" page! Lenders cannot guarantee the approval, but they could approve your loans, even if you are unemployed, receiving government benefits.

Fast Money In Your Bank

You can get your money within hours after filling out the form! We work 24/7 for you!
  • This form is protected with secure 256-bit SSL encryption
  • By clicking “Get Started”, I consent and agree to the Privacy Policy and Terms of Use.

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

Company nameAddressZip codePhone number
Trading Post LLC 407 N Baldwin Ave, Marion, IN 46952 +1 (765) 573 - 5665
Home Bank 59 W Washington St, Martinsville, IN 46151 +1 (765) 342 - 6695
Check Into Cash 921 E Tipton St, Seymour, IN 47274 +1 (812) 522 - 6852
Citizens State Bank 1238 Broad St, New Castle, IN 47362 +1 (765) 529 - 5450
First Financial Bank 100 W Market St, Newport, IN 47966 +1 (765) 492 - 3321
Cashland 103 E McGalliard Rd, Muncie, IN 47303 +1 (765) 741 - 0890
First County Federal CU 1100 W 11th St, Muncie, IN 47302 +1 (765) 284 - 3471
Logansport Savings Bank 723 E Broadway, Logansport, IN 46947 +1 (574) 722 - 3855
Old National Bank 224 W Main St, Boonville, IN 47601 +1 (812) 897 - 6300
Denny Frecker - Mortgage Loan Originator 215 N Washington St 2444, Crawfordsville, IN 47933 +1 (317) 902 - 7442

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Summitville, IN, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Plainfield, IN, Short-term Loans in Portage, IN, Payday Loans in Richmond, IN, Payday Loan for South Bend, IN, Online Loans in Terre Haute, IN, Short-term Loans in Valparaiso, IN, Payday Loans in West Lafayette, IN and Payday Loans in Westfield, 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 Summitville, IN.

Beautiful sights of Summitville, IN

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

46070

Are Payday Loans Legal In Summitville, 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%

Summitville, IN payday loan calculator

Overview of Payday Loans in Summitville, Indiana

Payday loans are a type of short-term loan that is designed to help borrowers who are facing financial difficulties between paychecks. These loans, which can range from $100 to $1,000, are intended to help people meet a variety of financial needs, including emergency medical expenses, car repairs, or utility bills.

How Payday Loans Work in Summitville, Indiana

In Indiana, payday loans are legal and regulated by the state government. To qualify for a payday loan in Summitville, Indiana, a borrower must be at least 18 years old, have a valid government-issued ID, a steady income, and an active checking account.

The process of obtaining a payday loan typically involves filling out an application online or in person at a loan store. Once the application is approved, the lender will deposit the funds directly into the borrower’s checking account. Repayment of the loan is typically due on the borrower’s next payday.

Advantages of Payday Loans in Summitville, Indiana

  • Quick access to funds
  • No collateral required
  • Easy application process
  • May help improve credit score

One of the main advantages of payday loans is that they provide quick access to funds. Unlike traditional bank loans, which can take weeks or even months to process, payday loans are typically approved within a few hours.

Another advantage of payday loans is that they do not require collateral. This means that borrowers do not need to put up any valuable property or assets to secure the loan.

The application process for payday loans is also relatively easy. Borrowers can apply online or in person at a loan store, and typically receive a response within hours.

Finally, repaying a payday loan on time may help improve a borrower’s credit score. This is because timely payments are reported to credit bureaus and can demonstrate responsible borrowing behavior.

Disadvantages of Payday Loans in Summitville, Indiana

  • High interest rates and fees
  • May lead to a cycle of debt
  • May impact credit score negatively
  • No protection against risky borrowing

One of the main disadvantages of payday loans is their high interest rates and fees. According to the Indiana Department of Financial Institutions, the average interest rate for a payday loan in Indiana is around 382 percent.

This high interest rate can make it difficult for borrowers to pay back the loan in full, which can lead to a cycle of debt as they continue to borrow money to pay off previous loans.

Furthermore, payday loans may impact a borrower’s credit score negatively if they are unable to make timely payments. Late or missed payments can result in additional fees and charges, and can also be reported to credit bureaus.

Finally, payday loans do not provide protection against risky borrowing. Borrowers need to be fully aware of the terms and conditions of the loan before they sign the agreement, and should only take out a payday loan if they are confident that they will be able to repay it on time.

Interesting Facts and Statistics about Payday Loans in Summitville, Indiana

  • The average payday loan amount in Indiana is $350.
  • In 2020, Indiana payday lenders issued more than 1.6 million loans with an average interest rate of 382 percent.
  • Payday lenders in Indiana are required to prominently display a list of fees and charges associated with their loans.

Apply Now

At TheGuaranteedLoans, we offer a quick and easy application process for payday loans in Summitville, Indiana. As a connector service, we work with a network of trusted lenders who can provide immediate assistance for borrowers in need of quick cash. To apply, simply fill out our online application form or visit one of our partner loan stores today. Remember, we are not a direct lender, and we will facilitate your connection with potential lenders.

Conclusion

While payday loans can provide quick access to funds for people in financial distress, they can also be risky and expensive. As with any financial decision, it is important for borrowers to carefully consider their options and to only borrow what they are confident they can repay on time.

By understanding the advantages and disadvantages of payday loans, borrowers can make informed decisions about their financial future and can prevent the cycle of debt that often follows irresponsible borrowing.

F.A.Q.

How do I repay my payday loan in Summitville, Indiana?

in Summitville, Indiana, payday loans must be repaid in full on the due date, which is typically the borrower's next payday. The lender will automatically withdraw the loan amount and fees from the borrower's checking account on the due date.

Are there any protections for borrowers who take out payday loans in Summitville, Indiana?

Yes, in Summitville, Indiana, payday lenders are required to provide borrowers with a written disclosure statement outlining the terms of the loan, including the loan amount, fees, and repayment schedule.