Payday Loans in Gray, Iowa

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

Company nameAddressZip codePhone number
Dupaco ATM & Live Video Teller Outlet at MercyOne Waterloo Medical Center 3421 W 9th St, Waterloo, IA 50702 +1 (800) 373 - 7600
First Trust & Savings Bank 200 Long Ave, Lost Nation, IA 52254 +1 (563) 678 - 2660
Advance America 2600 Dodge St Suite C-1, Dubuque, IA 52003 +1 (563) 582 - 0625
Great Western Bank 205 W 2nd St, Cedar Falls, IA 50613 +1 (319) 349 - 4930
Community Bank of Oelwein 150 1st St SE, Oelwein, IA 50662 +1 (319) 283 - 4000
Krueger Brokerage Inc 406 Main St, Keokuk, IA 52632 +1 (319) 524 - 1240
U.S. Bank Branch 701 Sumner Ave, Humboldt, IA 50548 +1 (515) 332 - 1142
Union State Bank 160 E Garfield St, Truro, IA 50257 +1 (641) 765 - 4525
Advance America 1821 22nd St #104, West Des Moines, IA 50266 +1 (515) 440 - 3016
United Bank of Iowa 210 Front Ave, Pocahontas, IA 50574 +1 (712) 335 - 4277

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Gray, IA, you can try to find different companies in big cities near by. Check out the following pages here: Same Day Loans in Council Bluffs, IA, Quick Loan in Davenport, IA, Payday Loans in Des Moines, IA, Payday Loans in Dubuque, IA, Same Day Loans in Iowa City, IA, Short-term Loans in Marion, IA, Payday Loans in Sioux City, IA and Emergency Loan in Urbandale, 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 Gray, IA.

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

50110

Are Payday Loans Legal In Gray, 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

Gray, IA payday loan calculator

Understanding Payday Loans in Gray, Iowa

Payday loans are a popular way for individuals to access quick cash for unexpected expenses or emergencies. In Gray, Iowa, these types of loans are legal and regulated by the state laws. If you’re considering a payday loan, it’s important to understand how they work, their benefits and drawbacks, and what to look for in a lender to ensure a safe and fair borrowing experience.

How do Payday Loans Work?

A payday loan is a short-term loan that typically must be repaid within two to four weeks, depending on the lender’s terms. To apply for a payday loan in Gray, Iowa, you’ll need to visit a lender in person or apply online. You’ll need to provide basic personal and financial information, including your name, address, income, and bank account details. Your lender will then determine if you qualify for a loan and how much you can borrow.

If your application is approved, you’ll receive the funds in cash, via check, or through an electronic deposit into your bank account. When your loan is due, your lender will withdraw the amount you borrowed, plus any fees and interest, from your bank account. If you can’t repay the loan in full on the due date, you may be able to renew or rollover your loan, but this can result in added fees and interest.

The Benefits and Drawbacks of Payday Loans

Payday loans can be a useful tool for individuals who need quick cash, but they come with both benefits and drawbacks. Some of the benefits of payday loans include:

  • Quick access to cash: Payday loans can often be processed and funded within a day or two.
  • No credit check: Payday lenders typically don’t check your credit score or report your payment history to credit bureaus.
  • No collateral required: Unlike other types of loans, payday loans don’t require collateral, such as a car or home.

However, there are also drawbacks to payday loans, including:

  • High fees and interest rates: Payday loans often come with fees and interest rates that can be higher than those of other types of loans. In Gray, Iowa, lenders can charge up to $15 for every $100 borrowed and up to 433% APR.
  • Debt cycle: If you can’t repay your loan on time, you may be tempted to renew or rollover your loan, which can result in added fees and interest. This can lead to a cycle of debt that can be difficult to break.
  • Potential for fraud: Some unscrupulous lenders may charge hidden fees or engage in fraudulent practices. It’s important to research lenders carefully before taking out a payday loan.

What to Look for in a Payday Lender

If you’re considering a payday loan in Gray, Iowa, it’s important to choose a lender carefully. Here are some tips to help you find a safe and fair lender:

  • Research lenders online: Look for lenders that are licensed and registered with the state of Iowa, and check for reviews and complaints online.
  • Compare fees and interest rates: Be sure to compare fees and interest rates from several lenders to find the best deal.
  • Check for transparency: A reputable lender will be upfront about their fees, interest rates, and repayment terms.
  • Read the fine print: Be sure to read the loan agreement carefully before signing, and ask questions if anything is unclear.

Interesting Facts and Statistics about Payday Loans in Gray, Iowa

  • In 2019, Iowa payday lenders made more than 550,000 loans, with an average loan amount of $341 and an average fee of $55.
  • The majority of Iowa payday loan borrowers are white, female, and between the ages of 18 and 24.
  • Iowa law requires payday lenders to disclose the APR of their loans in writing and to provide a sample repayment schedule.
  • Some Iowa cities, including Des Moines and Waterloo, have imposed additional regulations on payday lenders, such as limiting the number of loans a borrower can take out in a year.

Apply Now

If you need a payday loan in Gray, Iowa, TheGuaranteedLoans.com can help. We are not a direct lender, but a connector service that can help match you with potential lenders. Our online application process is quick and easy, and we work with a network of trusted lenders who adhere to all of Iowa’s payday loan regulations. To get started, simply fill out our online application form, and we’ll connect you with a lender who can help.

F.A.Q.

Are there any restrictions on the number of payday loans a borrower can take out in Gray, Iowa?

Yes, in Gray, Iowa, a borrower is limited to taking out a maximum of two payday loans at any given time.

Can a lender require a borrower to provide collateral for a payday loan in Gray, Iowa?

No, a lender cannot require a borrower to provide collateral for a payday loan in Gray, Iowa. Payday loans are unsecured loans, which means they do not require collateral.