Payday Loans in Decatur, Iowa

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

Company nameAddressZip codePhone number
Farmers State Bank 501 E State St, Algona, IA 50511 +1 (515) 295 - 7221
BankFirst 902 10th St, Onawa, IA 51040 +1 (402) 371 - 8005
Bank Iowa - Humboldt 506 Sumner Ave, Humboldt, IA 50548 +1 (515) 332 - 1451
Iowa Prairie Bank 225 Floyd Ave N, Hinton, IA 51024 +1 (712) 947 - 4323
Check Into Cash 600C W Taylor St, Creston, IA 50801 +1 (641) 782 - 2247
South Story Bank & Trust 501 Linn St, Slater, IA 50244 +1 (515) 228 - 3566
Heartland Bank 1201 Market St, Gowrie, IA 50543 +1 (515) 352 - 3181
Sindlinger Mark W 100 1st St N, Newton, IA 50208 +1 (641) 792 - 5550
Walmart Money Center 2014 Kittyhawk Ave, Carroll, IA 51401 +1 (712) 792 - 2280
Cooperative Credit Company 128 3rd St NW, Sioux Center, IA 51250 +1 (712) 722 - 1717

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Decatur, IA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Waterloo, IA, Payday Loans in West Des Moines, IA, Payday Loans in Ames, IA, Payday Loans in Ankeny, IA, Guaranteed Loans in Bettendorf, IA, Payday Loan for Cedar Falls, IA, Payday Loans in Cedar Rapids, IA and Payday Loans in Council Bluffs, 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 Decatur, IA.

Beautiful sights of Decatur, IA

Are Payday Loans Legal In Decatur, 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

Decatur, IA payday loan calculator

Understanding Payday Loans in Decatur, Iowa – A Comprehensive Guide

Payday loans have become a popular financial solution for those who find themselves in a tight spot. These short-term loans provide quick access to cash to help cover unexpected expenses. In Decatur, Iowa, payday loans are legal and regulated by the state.

However, before you consider taking out a payday loan, it’s important to understand how they work and the potential risks they pose. This article will provide a comprehensive guide to payday loans in Decatur, Iowa, to help you make an informed decision.

What is a Payday Loan?

A payday loan is a short-term loan that is designed to provide emergency cash to cover unexpected expenses. These loans are typically used for things like car repairs, medical bills, or other unforeseen expenses. They are called ‘payday loans’ because they are usually due on the borrower’s next payday.

Most payday lenders allow borrowers to take out a loan between $100 and $500, which is usually due within two weeks. Some lenders may offer larger loans, but they come with higher fees and interest rates.

How Do Payday Loans Work in Decatur, Iowa?

In Decatur, Iowa, payday loans are legal, and lenders must comply with the rules and regulations set forth by the state. To be eligible for a payday loan, you must be at least 18 years old, have a regular source of income, and have a valid checking account.

When you apply for a payday loan in Decatur, Iowa, the lender will ask you to provide proof of income and a post-dated check for the amount of the loan plus interest and fees. The lender will then provide you with the cash, and the post-dated check will be held as collateral.

On the due date, the lender will cash the post-dated check. If you are unable to pay back the loan on time, the lender may allow you to roll over the loan, but this will result in additional fees and interest.

The Pros and Cons of Payday Loans

Payday loans have both advantages and disadvantages, and it’s important to understand both before taking out a loan.

The Pros:

  • Quick and easy access to cash
  • No credit check required
  • Loans are available to those with poor credit or no credit history

The Cons:

  • High interest rates and fees
  • Short repayment terms
  • May lead to a cycle of debt

Interesting Facts and Statistics About Payday Loans in Decatur, Iowa

  • According to a report by the Iowa Division of Banking, there were 473 payday lending locations in the state in 2020.
  • The total dollar amount of payday loans originated in Iowa was $274,236,417 in 2020.
  • The average interest rate for a payday loan in Iowa is 290%.

Apply Now for a Payday Loan in Decatur, Iowa

If you find yourself in need of emergency cash in Decatur, Iowa, TheGuaranteedLoans is here to help. As a connector service, we will facilitate your connection with potential lenders who offer payday loans in Decatur, Iowa.

Our online application process is quick, easy, and secure. Simply fill out our online application form, and we’ll connect you with potential lenders who can help.

Remember, payday loans are a short-term solution, and they come with high fees and interest rates. Only take out a payday loan if you are confident that you can repay it on time and in full. If you have any questions or concerns, don’t hesitate to contact us.

F.A.Q.

Can a payday loan lender in Decatur, Iowa charge a penalty for early repayment of the loan?

No, a payday loan lender in Decatur, Iowa cannot charge a penalty for early repayment of the loan. In fact, borrowers are encouraged to pay off their loans as soon as possible to avoid high interest charges.

Is there a minimum loan term for payday loans in Decatur, Iowa?

Yes, the minimum loan term for payday loans in Decatur, Iowa is 14 days. However, lenders can offer longer loan terms if they choose to do so.