Payday Loans in College Springs, Iowa

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

Company nameAddressZip codePhone number
Ruhnke Brothers Full Service 319 E State St 2739, Algona, IA 50511 +1 (515) 295 - 3654
MEMBERS1st Community Credit Union 423 Main St, Ames, IA 50010 +1 (515) 232 - 0085
Advance America 550 36th Ave SW p, Altoona, IA 50009 +1 (515) 967 - 0330
U.S. Bank ATM - Humboldt Drive-Up in Parking Lot 701 Sumner Ave, Humboldt, IA 50548 +1 (800) 872 - 2657
Libertyville Savings Bank: Fairfield 2000 W Jefferson Ave, Fairfield, IA 52556 +1 (641) 472 - 9839
Iowa State Bank 1101 Main St, Hull, IA 51239 +1 (712) 439 - 1025
Jackson Hewitt Tax Service 3036 1st Ave S, Fort Dodge, IA 50501 +1 (515) 635 - 3438
The State Bank 1902 Hill Ave, Spirit Lake, IA 51360 +1 (712) 336 - 2455
Iowa State Bank 5 E Call St, Algona, IA 50511 +1 (515) 295 - 3595
GreenState Credit Union 705 6th Ave, Grinnell, IA 50112 +1 (800) 397 - 3790

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in College Springs, IA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Sioux City, IA, Payday Loan for Urbandale, IA, Payday Loan for Waterloo, IA, Guaranteed Loans in West Des Moines, IA, Payday Loan Companies in Ames, IA, Payday Loans in Ankeny, IA, Bad Credit Loans in Bettendorf, IA and Emergency Loan in Cedar Falls, 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 College Springs, IA.

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

51637

Are Payday Loans Legal In College Springs, 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

College Springs, IA payday loan calculator

Understanding Payday Loans in College Springs, Iowa: All You Need to Know

When faced with a financial emergency, many people in College Springs, Iowa, find themselves struggling to cover unexpected expenses. In these situations, payday loans can provide a quick solution to help bridge the gap until the next paycheck arrives.

However, before jumping into payday loans, it’s essential to understand how they work, the legal framework governing them, and the benefits and risks associated with them.

What Are Payday Loans?

A payday loan is a short-term, high-interest loan designed to cover unexpected expenses between paychecks. In College Springs, Iowa, payday loans are legal and regulated by the Iowa Division of Banking.

Payday loans typically come with a quick and straightforward application process, with funds often available within a few hours of approval. These loans often have a high-interest rate and a short repayment period, usually due on the borrower’s next payday.

Legal Framework for Payday Loans in College Springs, Iowa

Payday loans in College Springs, Iowa, are subject to Iowa’s Regulation on Delayed Deposit Services Licensing Act, which governs the lending and borrowing of these types of loans.

Under Iowa law, payday loan lenders must be licensed, and both lenders and borrowers must adhere to specific rules and regulations. For instance, the maximum loan amount in Iowa is $500, and borrowers must repay the loan in full on the due date to avoid additional fees or charges.

The Pros and Cons of Payday Loans in College Springs, Iowa

Like any financial product, payday loans have both advantages and disadvantages. Here are some of the pros and cons of payday loans in College Springs, Iowa.

Pros

  • Quick funding: In emergencies, payday loans offer a fast and convenient solution for accessing much-needed funds.
  • Easy application process: Payday loan applications are generally straightforward and easy to complete, minimizing the time spent applying for a loan.
  • No credit check: Unlike traditional loans, payday loan lenders do not require a credit check to approve a loan application, making them more accessible to borrowers with bad or no credit.

Cons

  • High-interest rates: Payday loans come with high-interest rates, which can make them an expensive option for borrowers.
  • Short repayment period: Payday loans are typically due on the borrower’s next paycheck, which means borrowers without enough income to repay the loan may find themselves trapped in a cycle of debt.
  • Potential for abuse: Because payday loans are often marketed towards low-income borrowers, they can be prone to exploitation and abuse by lenders.

Facts and Statistics About Payday Loans in College Springs, Iowa

  • There were over 751,000 payday loans issued in Iowa in 2020, with an average loan size of $341.75.
  • The average annual percentage rate (APR) for payday loans in Iowa is 309%.
  • In Iowa, borrowers can take out up to $500 in payday loans at one time, and lenders can charge a maximum of $15 in fees on the first $100 borrowed, plus an additional $10 on each subsequent $100.

Apply Now with TheGuaranteedLoans

If you’re considering a payday loan in College Springs, Iowa, TheGuaranteedLoans can help connect you with potential lenders who may be able to offer the funding you need. As a connector service, we partner with a network of trusted lenders to help you find the best loan options available.

Our application process is quick, easy, and secure, with most borrowers receiving a response within minutes of submitting their application. We provide a simple, user-friendly experience, making it easy to apply for the funding you need.

However, it’s important to note that TheGuaranteedLoans is not a direct lender and cannot guarantee loan approval or specific loan terms. Additionally, all payments are made directly to the lender and not TheGuaranteedLoans.

In Conclusion

Payday loans can be a useful tool for addressing short-term financial emergencies. However, they should only be used as a last resort and with a thorough understanding of their terms, fees, and potential risks. If you’re considering a payday loan in College Springs, Iowa, be sure to do your research, compare lenders, and choose a trustworthy and reputable service, like TheGuaranteedLoans.

F.A.Q.

Can I rollover or extend a payday loan in College Springs, Iowa?

Rolling over or extending a payday loan in College Springs, Iowa is not allowed. If you are unable to repay your loan on the agreed-upon date, you may be able to work out a payment plan with your lender.

Are there any restrictions on the use of payday loan funds in College Springs, Iowa?

Yes, in College Springs, Iowa, payday loan funds must be used for personal, family, or household purposes only. They cannot be used for business or investment purposes.