Payday Loans in Barnes City, Iowa

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

Company nameAddressZip codePhone number
Community Savings Bank 1211 12th Ave SE 103, Dyersville, IA 52040 +1 (563) 875 - 6296
Peoples Bank 804 Greenwood Hills Dr, Adel, IA 50003 +1 (515) 993 - 5680
Check Into Cash 905 4th Ave S, Denison, IA 51442 +1 (712) 263 - 8733
Clinton National Bank 329 Ferry Rd, Miles, IA 52064 +1 (563) 682 - 7777
Clinton National Bank 817 9th Ave, Camanche, IA 52730 +1 (563) 259 - 8371
Farmers State Bank 1306 5th St, Gilbertville, IA 50634 +1 (319) 287 - 3961
Community Insurance & Financial Services 122 W 5th St, Tipton, IA 52772 +1 (563) 886 - 6191
Inlanta Mortgage 1103 Buckeye Ave 103, Ames, IA 50010 +1 (515) 598 - 5626
First State Bank 414 Main St, Mapleton, IA 51034 +1 (712) 881 - 2161
Marine Credit Union Davenport 709 E 46th St, Davenport, IA 52807 +1 (563) 391 - 2850

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Barnes City, IA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Urbandale, IA, Payday Loan Without a Credit Check in Waterloo, IA, Payday Loans in West Des Moines, IA, No Credit Check Loans in Ames, IA, Payday Loans in Ankeny, IA, Same Day Loans in Bettendorf, IA, Payday Loan Without a Credit Check in Cedar Falls, IA and Payday Loans in Cedar Rapids, 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 Barnes City, IA.

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

50027

Are Payday Loans Legal In Barnes City, 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

Barnes City, IA payday loan calculator

Payday loans are a hot-button issue in Iowa, with many residents turning to these short-term loans to help make ends meet. In Barnes City, Iowa, payday loans are legal and can be a convenient option for those facing unexpected expenses or emergency situations. However, it is important to understand the risks and drawbacks of payday loans before deciding if they are right for you.

What are Payday Loans?

Payday loans are small-dollar loans that are typically due on the borrower’s next payday. They are designed to provide quick access to cash for those who may not have access to traditional forms of credit. In Barnes City, Iowa, payday loans are legal and governed by state law, which sets limits on the amount that can be borrowed and the fees that can be charged.

To qualify for a payday loan in Barnes City, Iowa, borrowers must meet certain requirements, including:

  • Being at least 18 years old
  • Having a valid government-issued ID
  • Having a regular source of income
  • Having an active checking account

Benefits of Payday Loans

One of the main benefits of payday loans is their convenience. They are quick and easy to obtain, often requiring just a few minutes to complete an application and receive funds. This can be especially helpful for those facing emergency expenses, such as car repairs or medical bills. Additionally, payday loans do not require a credit check, which can be appealing to those with poor or limited credit history.

Risks of Payday Loans

Despite their convenience, payday loans come with a number of risks and drawbacks. Perhaps the most significant risk is the high cost of borrowing. In Barnes City, Iowa, payday lenders are allowed to charge up to 15% of the amount borrowed as a finance charge, with a maximum loan term of 31 days. This can equate to an annual percentage rate (APR) of 391% or more, making payday loans one of the most expensive forms of borrowing available.

In addition to the high cost, payday loans can also lead to a cycle of debt. Because they are due on the borrower’s next payday, many borrowers find themselves unable to repay the loan in full and end up renewing or rolling over the loan, incurring additional fees in the process. This can lead to a cycle of debt that can be difficult to break.

Interesting Facts and Statistics

  • Payday loans are legal in Iowa, but the state has enacted certain regulations to protect consumers. These regulations include a limit on the amount that can be borrowed ($500 or 25% of the borrower’s gross monthly income) and a limit on the maximum finance charge (15% of the amount borrowed).
  • The average payday loan borrower in Iowa takes out 12 loans per year and spends an average of 199 days in debt per year.
  • The payday lending industry in Iowa is worth an estimated $50 million per year.
  • Iowa is one of 32 states that allow payday lending, but many other states have stricter regulations or have banned payday lending altogether.

Apply Now

If you are considering a payday loan in Barnes City, Iowa, it is important to understand the risks and benefits and to carefully consider your options. At TheGuaranteedLoans, we are committed to helping our clients find the best possible loan options for their needs. As a connector service, we work with a network of trusted lenders to match our clients with loans that meet their specific needs and circumstances.

To get started, simply fill out our online application form and we will take care of the rest. Our application process is fast, easy, and secure, and we are committed to providing our clients with the highest level of service and support.

F.A.Q.

Are there any alternatives to payday loans in Barnes City, Iowa?

Yes, there are alternatives to payday loans in Barnes City, Iowa, such as small personal loans from banks or credit unions, or assistance from social service agencies.

Is there any regulation of payday loans in Barnes City, Iowa?

Yes, payday lending is regulated by the Iowa Division of Banking, which sets maximum interest rates and fees, and requires lenders to disclose all terms and conditions of the loan to the borrower.