Payday Loans in Madrid, Iowa

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

Company nameAddressZip codePhone number
N W Iowa Credit Union 1411 Industrial Rd SW, Le Mars, IA 51031 +1 (712) 546 - 7676
Mark Schmidt - Raymond James 37 1st Ave NW, Le Mars, IA 51031 +1 (712) 548 - 4673
Great Western Bank 13150 Hickman Rd, Clive, IA 50325 +1 (515) 440 - 6300
MEMBERS1st Community Credit Union 1724 S Center St, Marshalltown, IA 50158 +1 (641) 844 - 1016
Central State Bank 345 US-151, Walford, IA 52351 +1 (319) 846 - 2650
EZPAWN 920 La Porte Rd, Waterloo, IA 50702 +1 (319) 287 - 5959
Farmers & Merchants Bank 311 Mack Ln, Mediapolis, IA 52637 +1 (319) 752 - 3661
Preferred Auto Sales 2198 Varnishtree Ave, Lockridge, IA 52635 +1 (319) 696 - 3366
MidWestOne Bank 4510 Prairie Pkwy, Cedar Falls, IA 50613 +1 (319) 277 - 2500
Advance America 3067 Floyd Blvd, Sioux City, IA 51108 +1 (712) 239 - 2800

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Madrid, IA, you can try to find different companies in big cities near by. Check out the following pages here: 24-Hour Loan in Cedar Rapids, IA, 24-Hour Loan in Council Bluffs, IA, Same Day Loans in Davenport, IA, Payday Loans in Des Moines, IA, Payday Loans in Dubuque, IA, Payday Loans in Iowa City, IA, Payday Loans in Marion, IA and Payday Loan for Sioux City, 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 Madrid, IA.

Beautiful sights of Madrid, IA

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

50156

Are Payday Loans Legal In Madrid, 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

Madrid, IA payday loan calculator

Everything You Need to Know About Payday Loans in Madrid, Iowa

When unexpected expenses come up, many people turn to payday loans to help bridge the gap until their next paycheck arrives. These short-term loans can be a lifesaver in times of financial need, but it is important to understand the terms and conditions before taking out a payday loan in Madrid, Iowa.

Legal Status of Payday Loans in Iowa

In Iowa, payday loans are legal, but there are strict regulations in place to protect consumers. These regulations include limits on the amount borrowers can borrow, restrictions on fees and interest rates, and requirements for lenders to provide clear and concise loan terms.

The maximum amount a borrower can receive from a payday loan in Iowa is $500, and the maximum loan term is 31 days. Lenders are also prohibited from charging more than 15% on the first $100 borrowed, 10% on any amount between $101 and $200, and 7.5% on any amount between $201 and $500.

While payday loans can be a helpful financial tool, it is important to only borrow what you can afford to repay, and to carefully review the terms and conditions of any loan before signing on the dotted line.

The Application Process

If you are interested in taking out a payday loan in Madrid, Iowa, the application process is relatively simple. All you need to do is provide some basic information, including your name, address, income, and employment status. You will also need to provide your bank account information, as this is typically how lenders will deposit the loan funds and withdraw repayment.

Once you have completed the application and been approved, you can typically receive the loan funds within one business day. However, it is important to note that not all payday lenders are created equal, and you should do your due diligence to find a reputable lender with fair terms and conditions.

The Risks and Benefits of Payday Loans

Like any financial product, payday loans come with both risks and benefits. On the one hand, they can provide immediate access to cash in times of need, and can be a helpful tool for those with limited credit options.

On the other hand, payday loans often come with high interest rates and fees, which can quickly add up and make it difficult to repay the loan in a timely manner. Additionally, taking out payday loans on a regular basis can lead to a cycle of debt, where borrowers are repeatedly taking out new loans to pay off old ones.

For these reasons, it is important to carefully consider your financial situation and alternatives before taking out a payday loan. If possible, it may be better to explore other options, such as borrowing from family or friends, negotiating with creditors, or applying for a personal loan from a bank or credit union.

Interesting Facts and Statistics About Payday Loans in Madrid, Iowa

  • According to the Iowa Division of Banking, more than 300,000 payday loans were issued in the state in 2019.
  • The average payday loan amount in Iowa is $341
  • Iowa has some of the strictest payday lending regulations in the country, including limits on fees and interest rates, and a requirement that lenders provide clear and concise loan terms.

Apply Now with TheGuaranteedLoans

Looking for a payday loan in Madrid, Iowa? TheGuaranteedLoans can help connect you with potential lenders who can provide the cash you need, quickly and easily. Our online application process is simple and straightforward, and we work with a network of reputable lenders with transparent terms and fair rates.

Remember, TheGuaranteedLoans is a connector service, not a direct lender. This means that we don’t provide the loans ourselves, but rather facilitate your connection with potential lenders who may meet your needs. To get started, simply fill out our online application form today!

F.A.Q.

Can I have more than one payday loan at a time in Madrid, Iowa?

Yes, you can have more than one payday loan at a time in Madrid, Iowa. However, the total amount borrowed cannot exceed $500.

Can I be sued or have my wages garnished if I default on a payday loan in Madrid, Iowa?

Yes, if you default on a payday loan in Madrid, Iowa, the lender may take legal action against you, including suing you or garnishing your wages.