Payday Loans in Andover, Iowa

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No payday loan companies in Andover, IA. Consider companies in other cities:

Company nameAddressZip codePhone number
EZ Money Check Cashing 3301 Pennsylvania Ave 103, Dubuque, IA 52002 +1 (563) 582 - 3770
Pilot Grove Savings Bank 521 N Main St 9644, Donnellson, IA 52625 +1 (319) 835 - 5131
Farm Bureau Financial Services 110 N 18th St 200, Centerville, IA 52544 +1 (641) 437 - 4333
FreedomBank 106 S Main St, Monona, IA 52159 +1 (563) 539 - 2015
Clinton Check Cashers & Payday 1401 N 2nd St, Clinton, IA 52732 +1 (563) 244 - 8000
Community State Bank 801 W Main St, West Branch, IA 52358 +1 (319) 643 - 3155
Union State Bank 112 N Main St, Bridgewater, IA 50837 +1 (641) 369 - 2741
MoneyGram 2600 Dodge St C, Dubuque, IA 52003 +1 (563) 582 - 0625
Midwest Heritage 1025 Braden Ave, Chariton, IA 50049 +1 (641) 774 - 8581
Hometown Cash Advance 405 E Main St, Anamosa, IA 52205 +1 (319) 462 - 6118

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Andover, IA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Marion, IA, Quick Loan in Sioux City, IA, Payday Loans in Urbandale, IA, Emergency Loan in Waterloo, IA, Payday Loans in West Des Moines, IA, Payday Loans in Ames, IA, Same Day Loans in Ankeny, IA and Payday Loans in Bettendorf, IA. 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 Andover, IA.

Payday Loans Available in Andover, IA By The Following ZIP Codes:

52701

Are Payday Loans Legal In Andover, Iowa?

Loan Rates and Fees, Laws and Regulations in Iowa.

Iowa Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)337
Maximum Loan Amount$500
Minimum Loan TermNot Specified
Maximum Loan Term31 days
Number of Rollovers Allowed0
Finance Charges$15 on the first $100 + >$10 on subsequent $100

Andover, IA payday loan calculator

Payday Loans in Andover, Iowa – Everything You Need to Know

Are you facing a financial emergency and need additional cash to tide you over until your next payday? If you’re a resident of Andover, Iowa, you’re in luck as payday loans are legal in the state. However, before you take out a payday loan, you need to understand how they work and what your obligations are. In this article, we’ll provide an overview of payday loans in Andover, Iowa, to help you make an informed decision.

What are Payday Loans?

Payday loans are a form of short-term credit designed to help you access cash quickly. Typically, you can borrow a small amount of money, which you have to repay by your next payday. The loan amount usually ranges between $100 to $500, although some lenders may offer more substantial amounts. The loan’s duration is usually between two to four weeks, but it can vary depending on the lender and state laws.

How Do Payday Loans Work in Andover, Iowa?

Payday loans are legal in Iowa, and the state has specific rules on how lenders should operate. In Iowa, the finance charges for a payday loan cannot exceed $15 for the first $100 borrowed and $10 for each additional $100 borrowed. The APR for a 14-day $100 loan is 391%. The maximum loan amount is $500, and the loan term can’t exceed 31 days. Lenders are also required to provide borrowers with a written agreement outlining the loan’s terms and conditions, including the finance charges and the total amount due.

The Pros and Cons of Payday Loans

Like any financial product, payday loans come with both advantages and disadvantages. Here are some of the pros and cons of payday loans:

Pros

  • Quick access to cash
  • No credit check required
  • Straightforward application process

Cons

  • High interest rates and fees
  • Short repayment period
  • Can trap borrowers in debt cycles

Interesting Facts About Payday Loans in Andover, Iowa

Here are some interesting facts and statistics about payday loans in Andover, Iowa:

  • In 2019, more than 279,000 payday loans were issued in Iowa, with a total value of over $107 million.
  • The average payday loan amount in Iowa in 2019 was $383, and the average finance charge was $55.
  • Over 70% of payday borrowers in Iowa take out a new loan within two weeks of repaying their previous loan.
  • Iowa has one payday lender for every 4,000 residents, which is higher than the national average of one lender for every 13,000 residents.

Apply Now for a Payday Loan in Andover, Iowa

If you need cash fast and are considering a payday loan, TheGuaranteedLoans can help you find a reputable lender. We’re a connector service that matches borrowers with potential lenders. To apply, simply fill out our online application form, which takes only a few minutes to complete. We’ll then match you with a lender who meets your preferences and requirements. Remember, payday loans should only be used as a last resort and only for emergencies.

Conclusion

Payday loans can be a useful financial tool if used responsibly. However, they can also trap borrowers in debt cycles if not used correctly. If you live in Andover, Iowa, make sure to research lenders thoroughly before taking out a payday loan. Always read the loan agreement carefully and understand the terms and conditions before signing. By doing so, you can make an informed decision and avoid any potential financial pitfalls.

F.A.Q.

What is a payday loan in Andover, Iowa?

A payday loan is a short-term, high-interest loan that is intended to be repaid on the borrower's next payday.

How do I qualify for a payday loan in Andover, Iowa?

To qualify for a payday loan in Andover, Iowa, you must be at least 18 years old, have a regular source of income, and have an active checking account.