Payday Loans in Magnolia, Iowa

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

Company nameAddressZip codePhone number
MidWestOne Bank 3110 Kimball Ave, Waterloo, IA 50702 +1 (319) 232 - 5513
Shane Cooney - Raymond James 103 E State St, Mason City, IA 50401 +1 (641) 423 - 0801
Dubuque Bank and Trust 2196 Holliday Dr, Dubuque, IA 52002 +1 (563) 587 - 3900
TruBank 302 S Market St, Oskaloosa, IA 52577 +1 (641) 673 - 8405
Bank Midwest 1525 18th St 100, Spirit Lake, IA 51360 +1 (712) 336 - 0505
Peoples Bank Milo 201 Main St, Milo, IA 50166 +1 (641) 942 - 6221
Northeast Security Bank 134 W Main St, Fredericksburg, IA 50630 +1 (563) 237 - 5321
Northwest Bank 1008 18th St, Spirit Lake, IA 51360 +1 (712) 336 - 1034
Great Southern Bank 210 NE Delaware Ave, Ankeny, IA 50021 +1 (515) 964 - 5626
166 - Hometown Cash Advance 2840 7th Ave Unit 3, Marion, IA 52302 +1 (319) 377 - 7100

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Magnolia, IA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Urbandale, IA, Payday Loan Without a Credit Check in Waterloo, IA, Payday Loans in West Des Moines, IA, Payday Loans in Ames, IA, Payday Loans in Ankeny, IA, Payday Loans in Bettendorf, IA, Payday Loans in Cedar Falls, IA and Payday Loans in Cedar Rapids, 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 Magnolia, IA.

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

51550

Are Payday Loans Legal In Magnolia, 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

Magnolia, IA payday loan calculator

Are you thinking of taking out a payday loan in Magnolia, Iowa? Payday loans, also known as cash advance loans, are a type of short-term loan where borrowers can receive quick cash to cover immediate expenses. Payday loans are legal in Iowa, but it’s important to understand the terms and conditions of the loans, as well as the potential risks involved.

How Do Payday Loans Work?

Payday loans are typically small-dollar loans with short repayment terms. In Iowa, payday lenders can lend up to $500 per loan with a maximum term of 31 days. The borrower writes a post-dated check for the loan amount plus fees, which the lender will cash on the due date.

To qualify for a payday loan in Magnolia, Iowa, borrowers typically need to provide proof of income and a valid checking account. Borrowers do not need good credit to qualify for a payday loan, as lenders typically do not perform credit checks.

Potential Risks of Payday Loans

While payday loans can provide quick cash when needed, they come with high fees and interest rates. In Iowa, payday lenders can charge up to $15 per $100 borrowed, which equates to an APR of 391%. This means that the cost of borrowing $100 for two weeks could be as high as $30, or more if the loan is rolled over or extended.

Borrowers who are unable to repay their payday loans on time may face additional fees and interest charges, as well as collection actions such as wage garnishment or bank account levies. It’s important to read and understand the terms and conditions of the loan before signing a contract.

Benefits of Payday Loans

  • Quick access to cash
  • No credit check required
  • Available to borrowers with poor or no credit history
  • Can help cover unexpected expenses between paychecks

Apply Now

Are you considering a payday loan in Magnolia, Iowa? TheGuaranteedLoans is here to help. We are a connector service, not a direct lender, and we work with a network of reputable lenders to help you find the right loan for your needs. Our application process is fast and easy, and we can connect you with potential lenders in just minutes.

To apply for a payday loan or learn more about our services, visit TheGuaranteedLoans today.

Interesting Facts About Payday Loans in Magnolia, Iowa

  • The average payday loan amount in Iowa is $341
  • As of 2021, there were 232 licensed payday lending locations in Iowa
  • In 2020, the Iowa Legislature passed a bill imposing a 36% APR cap on payday loans, but it has not yet gone into effect

Remember, payday loans can provide quick cash when needed, but they come with high fees and interest rates. It’s important to read and understand the terms and conditions of the loan before signing a contract. If you need assistance finding a payday loan in Magnolia, Iowa, TheGuaranteedLoans is here to help.

F.A.Q.

Are there any alternatives to payday loans in Magnolia, Iowa?

Yes, there are alternatives to payday loans in Magnolia, Iowa, such as small personal loans from banks or credit unions, or assistance from social service agencies.

Is there any regulation of payday loans in Magnolia, Iowa?

Yes, payday lending is regulated by the Iowa Division of Banking, which sets maximum interest rates and fees, and requires lenders to disclose all terms and conditions of the loan to the borrower.