Payday Loans in Lakota, Iowa

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

Company nameAddressZip codePhone number
VisionBank 925 SE Gateway Dr, Grimes, IA 50111 +1 (515) 986 - 5746
Security National Bank 315 Cedar St, Lawton, IA 51030 +1 (712) 944 - 5171
Secu Credit Union 3200 Main St, Keokuk, IA 52632 +1 (319) 524 - 4560
VisionBank 217 W Mulberry St, Ogden, IA 50212 +1 (515) 275 - 2420
Hometown Cash Advance 219 Edgewood Rd NW, Cedar Rapids, IA 52405 +1 (319) 390 - 5300
Farmers Savings Bank & Trust 401 B Ave, Vinton, IA 52349 +1 (319) 472 - 2373
First Security 809 Clark St, Charles City, IA 50616 +1 (641) 228 - 2343
Check `n Go 3424 Merle Hay Rd, Des Moines, IA 50310 +1 (515) 334 - 0044
Ascentra Credit Union 2419 Park Ave, Muscatine, IA 52761 +1 (563) 263 - 1470
Heartland Bank 615 6th Ave, Somers, IA 50586 +1 (515) 467 - 5561

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Lakota, IA, you can try to find different companies in big cities near by. Check out the following pages here: Guaranteed Loans in Des Moines, IA, Payday Loans in Dubuque, IA, Payday Loans in Iowa City, IA, Guaranteed Loans in Marion, IA, Payday Loans in Sioux City, IA, Payday Loans in Urbandale, IA, 24-Hour Loan in Waterloo, IA and Payday Loans in West Des Moines, 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 Lakota, IA.

Beautiful sights of Lakota, IA

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

50451

Are Payday Loans Legal In Lakota, 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

Lakota, IA payday loan calculator

Payday loans are a common and popular option for people in need of quick cash. One such option is available in Lakota, Iowa, where the state has legalized payday loans. Many people in Lakota turn to payday loans as a way to bridge financial gaps when they have unexpected and urgent expenses. In this article, we will discuss what payday loans are, how they work, the benefits and drawbacks of using them, and how to apply for one through TheGuaranteedLoans.

What Are Payday Loans?

Payday loans are short-term loans that are typically used to cover expenses until the borrower’s next payday. These loans are typically for small amounts, generally ranging from $100 to $1000. The amount a borrower can borrow depends on their income and credit rating. These loans are usually unsecured, which means the borrower does not have to provide collateral to obtain the loan.

How Do Payday Loans Work?

The payday loan process typically starts when a borrower visits a payday lender or applies online through TheGuaranteedLoans website. The borrower will need to provide some basic information, such as their name, address, phone number, income, and bank account information. Once the application is complete, the lender will verify the information and determine whether to approve the loan.

If the loan is approved, the lender will typically deposit the funds into the borrower’s bank account within one business day. The loan will then need to be repaid on the borrower’s next payday, plus interest and any additional fees the lender may charge.

The Pros and Cons of Payday Loans

The Benefits of Payday Loans

  • Quick access to cash: Payday loans can be a good option for those who need cash quickly for emergency expenses, such as medical bills or car repairs.
  • No credit check: Many payday lenders do not require a credit check, which can be helpful for those with poor credit or no credit history.
  • No collateral needed: Payday loans are typically unsecured, which means the borrower doesn’t need to put up any assets as collateral.

The Drawbacks of Payday Loans

  • High fees and interest rates: Payday loans can come with high interest rates and fees, making them an expensive option for borrowing money.
  • Short repayment terms: Payday loans are typically due on the borrower’s next payday, which may not give them enough time to repay the loan and cover their other expenses.
  • Risk of debt cycle: Payday loans can lead to a cycle of debt if the borrower is unable to pay back the loan on time, leading to additional fees and interest charges.

Facts and Statistics About Payday Loans in Lakota, Iowa

  • The maximum amount a borrower can borrow in Iowa through a payday loan is $500.
  • Iowa law requires payday lenders to be licensed and regulated.
  • The average payday loan in Iowa has an interest rate of 337%.
  • In 2019, Iowa payday lenders issued more than 560,000 loans, totaling over $194 million.
  • Borrowers in Iowa are limited to two loans at a time, with a 31-day repayment term.

Apply Now Through TheGuaranteedLoans

If you need a payday loan in Lakota, Iowa, TheGuaranteedLoans can help you connect with potential lenders. Simply fill out our online application form, providing basic information about yourself and your financial needs. Once your application is received, it will be reviewed by potential lenders. If a lender is interested in working with you, they will contact you directly to discuss the terms of the loan.

It is important to note that TheGuaranteedLoans is a connector service, not a direct lender. We simply facilitate your connection with potential lenders, so you can get the cash you need. However, we do not make lending decisions, and we do not have control over the terms and rates of any loans offered to you. It is crucial that you carefully review the terms and conditions of any loan before accepting it.

Final Thoughts

Payday loans can be a helpful option for those in need of quick cash, but they also come with high fees and interest rates. If you are considering a payday loan in Lakota, Iowa, be sure to carefully review the terms and rates of any loan you are offered before accepting it. And always remember to borrow responsibly, only taking out loans you can realistically afford to repay on time.

F.A.Q.

Are there any restrictions on the types of fees that a payday loan lender in Lakota, Iowa can charge?

Yes, there are restrictions on the types of fees that a payday loan lender in Lakota, Iowa can charge. The lender cannot charge fees that are considered excessive or unfair, such as fees for credit insurance or other types of add-on products.

Can a payday loan lender in Lakota, Iowa report a borrower's delinquent loan to a credit bureau?

Yes, a payday loan lender in Lakota, Iowa can report a borrower's delinquent loan to a credit bureau. This can negatively impact the borrower's credit score and make it more difficult to obtain credit in the future. It is important for borrowers to make timely payments on their payday loans to avoid this outcome.