Installment Loans in Shannon, Alabama

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No installment loan companies in Shannon, AL. Consider companies in other cities:

Company nameAddressZip codePhone number
TitleMax Title Loans 912 9th Ave N, Bessemer, AL 35020
Title Cash 1120 W Maple Ave, Geneva, AL 36340
Cash Mart Inc 1405 2nd Ave SW C, Cullman, AL 35055
Security Finance 806 N Main St e, Atmore, AL 36502
Small Loans Inc 1109 E Commerce St, Greenville, AL 36037 +1 (334) 382 - 2610
Dixie Dollar Payday Loans Inc 346 Elm St, Sulligent, AL 35586
Lending Bear 2207 Montgomery Hwy, Dothan, AL 36303 +1 (334) 702 - 1600
Checkmate Cash Advance Center 3006 McClellan Blvd, Anniston, AL 36201
1st Franklin Financial 1018 Industrial Pkwy, Saraland, AL 36571 +1 (251) 679 - 1403
Credit Central 3140 Ross Clark Cir, Dothan, AL 36303 +1 (334) 792 - 7864

Installment Loan Companies in Nearby Cities

If there are no installment loan companies in Shannon, AL, you can try to find different companies in big cities nearby. Check out the following pages here: Installment Loans in Mountain Brook, AL, Installment Loans in Northport, AL, Installment Loans in Opelika, AL, Installment Loans in Oxford, AL, Installment Loans in Pelham, AL, Installment Loans in Pell City, AL, Installment Loans in Phenix City, AL and Installment Loans in Prattville, AL. 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 Shannon, AL.

Understanding Installment Loans in Shannon, Alabama

When it comes to small-dollar loans in Alabama, installment loans can be a popular option for those who need extra cash. These loans are legal and regulated in Alabama, and can provide a quick and convenient solution for unexpected expenses or financial emergencies.

What are Installment Loans?

An installment loan is a type of loan where the borrower receives a lump sum of money and repays it over a set period of time in fixed, regular payments. These payments typically include both principal and interest, and are scheduled to occur at regular intervals over the term of the loan. Installment loans are often used for expenses that are too large to be paid off in one lump sum, like car repairs or medical bills.

Regulations in Alabama

Installment loans are legal in Alabama, with certain regulations and restrictions. The Alabama State Banking Department oversees such loans, and defines them as loans that have a principal amount of between $1,000 and $5,000, with repayment terms between six months and 24 months. Interest rates on installment loans are capped at 35%, with an additional 3% monthly fee on the outstanding balance.

Benefits of Installment Loans in Shannon, Alabama

One of the main benefits of installment loans is their flexibility. Borrowers can take out larger loans than they may be able to with other types of small-dollar loans, and have more time to repay them. Installment loans can also have lower interest rates than other types of small-dollar loans, making them a more cost-effective option in the long run.

Another benefit is the simple application process. Lenders offering installment loans in Shannon, Alabama usually have a straightforward online application process that can be completed from the comfort of a borrower’s home. Many lenders also offer same-day approval and funding, allowing borrowers to quickly receive the cash they need.

Apply Now

If you’re considering applying for an installment loan in Shannon, Alabama, TheGuaranteedLoans can help connect you with potential lenders. Our online application process is easy and secure, and can provide you with multiple loan options to choose from. Remember that we are not a direct lender, but rather a connector service that can help facilitate your connection with potential lenders.

Don’t let unexpected expenses or financial emergencies cause undue stress. Apply now and take advantage of the flexibility and convenience that installment loans in Shannon, Alabama can offer.

Interesting Facts and Statistics

  • According to a 2020 report by LendingTree, Alabama has the highest concentration of payday lenders in the country, with 12.6 locations per 100,000 residents.
  • In 2019, Alabama residents took out over 1.8 million payday loans, with an average loan amount of $350.
  • Installment loans accounted for 46.4% of all unsecured consumer debt in the United States in 2019, according to a report by the credit bureau Experian.

Installment Loans Available in Shannon, AL By The Following ZIP Codes:

35022, 35142

Shannon, AL installment loan calculator

F.A.Q. About Installment Loans

Can I get No Credit Check Loan in Shannon, AL?

Yes, you can get a no credit check loan in Shannon, AL when you apply online.

How to Get a Bad Credit Loans in Shannon, AL?

To apply for a bad credit loan in Shannon, AL, you need to find a direct loan lender online.