Payday Loans in Farragut, Iowa

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

Company nameAddressZip codePhone number
Farmers Win Coop 110 N Jefferson Ave, Fredericksburg, IA 50630 +1 (563) 237 - 5324
Great Western Bank 511 1st Ave E, Newton, IA 50208 +1 (641) 792 - 9832
Midstates Bank 300 Front St, Neola, IA 51559 +1 (712) 485 - 2245
Citizens Bank 500 W Main St, Sac City, IA 50583 +1 (712) 662 - 4755
Sloan State Bank 302 4th St, Sloan, IA 51055 +1 (712) 428 - 3344
Community 1st Credit Union 303 S 2nd Ave, Washington, IA 52353 +1 (319) 653 - 6323
Mass Mutual Financial Group 505 5th St 405, Sioux City, IA 51101 +1 (712) 258 - 5521
Dan's Pawn And Gun 602 Main St, Keokuk, IA 52632 +1 (319) 524 - 3897
Globe Acceptance, Inc. 3410 Merle Hay Rd, Des Moines, IA 50310 +1 (515) 277 - 1836
Central Bank 4848 86th St, Urbandale, IA 50322 +1 (515) 309 - 5102

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Farragut, IA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Davenport, IA, Quick Loan in Des Moines, IA, Quick Loan in Dubuque, IA, Online Loans in Iowa City, IA, Online Loans in Marion, IA, Payday Loan Companies in Sioux City, IA, Payday Loans in Urbandale, IA and Payday Loans in Waterloo, 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 Farragut, IA.

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

51639

Are Payday Loans Legal In Farragut, 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

Farragut, IA payday loan calculator

Payday Loans in Farragut, Iowa: A Comprehensive Guide

Are you in need of quick cash to cover unexpected expenses in Farragut, Iowa? If so, you might have considered taking out a payday loan. Payday loans can be an effective solution to temporary financial struggles, but it’s important to understand the regulations that govern payday loans in Iowa to make an informed decision.

What is a Payday Loan?

Before diving into the specifics of payday loans in Farragut, it’s important to first understand what a payday loan is. A payday loan, also known as a cash advance loan, is a small short-term loan that is typically due on the borrower’s next payday.

These loans are generally designed to help people cover unexpected expenses, such as car repairs, medical bills, or household emergencies. Payday loans are also an option for those who have poor credit or no credit history, as payday lenders typically do not perform extensive credit checks.

Payday Loan Regulations in Iowa

Iowa is among the 32 states in the United States that allow payday loans. However, the state has implemented strict regulations to protect borrowers from predatory practices. Under the Iowa Code, the maximum amount of a payday loan is $500, and the maximum term is 31 days.

Additionally, Iowa law requires that the fees and interest charged on a payday loan cannot exceed an annual percentage rate (APR) of 433%. This means that if you borrow $100 for two weeks, you can expect to pay around $15 in fees. The APR varies based on the loan amount and the length of the loan.

It’s important to note that payday lenders in Iowa are required to be licensed by the state and are also required to provide borrowers with a written agreement that outlines the terms and conditions of the loan. Furthermore, borrowers are allowed to rescind the loan by the end of the next business day without paying any additional fees or interest.

Benefits of Payday Loans

Despite the high fees and interest rates associated with payday loans, there are some benefits to these types of loans. For one, payday loans can be a quick and convenient way to get funds in an emergency when you have no other options.

Secondly, payday lenders do not usually require collateral or good credit, making them accessible to those who might not qualify for other types of loans.

Drawbacks of Payday Loans

While payday loans have benefits, it’s important to also consider the potential downsides before taking out a loan. For one, the high fees and interest rates associated with payday loans can quickly add up, making them much more expensive than other types of loans.

Additionally, payday loans can become a cycle of debt for those who are unable to pay the loan off in full at the end of the term. Borrowers may end up rolling over the loan, taking out a new loan to pay off the old one, and becoming trapped in a cycle of debt that can be difficult to break free from.

Apply Now

At TheGuaranteedLoans, we understand that financial emergencies can happen to anyone. That’s why we offer our payday loan connecting services to people in Farragut, Iowa. Our online application process is quick and easy, and we connect borrowers with potential lenders who can provide the funds they need.

Please note that we are not a direct lender, but instead, we partner with a network of trusted lenders who can offer competitive rates and terms. By working with TheGuaranteedLoans, you can get the money you need to cover unexpected expenses while still adhering to the regulations set forth by the state of Iowa.

Interesting Facts and Statistics about Payday Loans in Farragut, Iowa

  • The average payday loan in Iowa is $323.
  • In 2020, Iowa payday lenders issued over 345,000 loans, resulting in over $123.5 million in fees and interest charges.
  • The number of payday lenders in Iowa has been decreasing in recent years, from over 250 in 2006 to less than 100 in 2021.

Conclusion

While payday loans can be a useful way to get funds quickly in an emergency, it’s important to understand the regulations and potential drawbacks of these loans before taking one out. By following Iowa’s regulations and working with a trusted connecting service like TheGuaranteedLoans, you can get the funds you need without falling into a cycle of debt.

Apply now to get the funds you need to cover unexpected expenses in Farragut, Iowa.

F.A.Q.

Are there any restrictions on the number of times a borrower can renew a payday loan in Farragut, Iowa?

Yes, in Farragut, Iowa, a borrower can only renew a payday loan twice. After the second renewal, the borrower must pay off the loan in full or enter into a payment plan with the lender.

Can a payday loan lender in Farragut, Iowa provide a borrower with a grace period before repayment is due?

Yes, a payday loan lender in Farragut, Iowa can provide a borrower with a grace period before repayment is due. However, the lender is not required to do so, and the length of the grace period is at the discretion of the lender.