Payday Loans in Martelle, Iowa

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

Company nameAddressZip codePhone number
Financial Advisors U.S. Bancorp Investments 100 E Jackson St, Centerville, IA 52544 +1 (641) 437 - 4078
Federation Bank 107 Richland St, Richland, IA 52585 +1 (319) 456 - 2265
Telco Triad Community Credit Union 24 W 4th St, Spencer, IA 51301 +1 (712) 262 - 4194
Principal Financial Group 1006 E 14th St S, Newton, IA 50208 +1 (641) 243 - 3379
Community 1st Credit Union 1940 Venture Dr, Ottumwa, IA 52501 +1 (641) 684 - 2127
Farm Credit Services of America 4056 4th St SW, Mason City, IA 50401 +1 (641) 423 - 2862
Lincoln Savings Bank 141 Eldora Rd, Hudson, IA 50643 +1 (319) 988 - 3630
Collins Community Credit Union 1655 Jordan St, North Liberty, IA 52317 +1 (800) 475 - 1150
First National Bank of Muscatine 3107 US-61, Muscatine, IA 52761 +1 (563) 262 - 4218
Payday Express Is Now EZ Money 1404 Hamilton Blvd, Sioux City, IA 51103 +1 (712) 252 - 1652

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Martelle, IA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Waterloo, IA, Same Day 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, Payday Loan Without a Credit Check in Cedar Rapids, IA and Guaranteed Loans in Council Bluffs, 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 Martelle, IA.

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

52305

Are Payday Loans Legal In Martelle, 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

Martelle, IA payday loan calculator

Introduction

Payday loans are a popular financial tool for people who need to borrow small sums of money to cover unexpected expenses. In Iowa, payday loans are legal, which means that they can be accessible to people who need them in Martelle and other cities throughout the state. However, it’s crucial to understand the risks and costs associated with payday loans before you apply. This article will explore everything you need to know about payday loans in Martelle, Iowa, including how they work, the regulations surrounding them, and the potential risks and benefits.

What are payday loans?

Payday loans are short-term loans that are typically due on your next payday. They’re designed to help you cover unexpected expenses, such as medical bills, car repairs, or utility bills. You can typically borrow anywhere from $100 to $500, depending on your income and credit score. The loan must be repaid in full, along with any interest and fees, when you receive your next paycheck.

How do payday loans work in Martelle, Iowa?

In Martelle and other cities in Iowa, payday lenders are regulated by the Iowa Division of Banking. To apply for a payday loan, you’ll need to provide proof of income and a valid ID. The lender will review your application and determine whether to approve it. If approved, you’ll receive the loan funds, usually within a few hours or the next business day.

When your next payday arrives, the lender will automatically deduct the loan amount, interest, and fees from your bank account. If you don’t have enough money in your account to cover the payment, you could be subject to additional fees or even legal action.

The risks and benefits of payday loans

  • Benefits:
    • Quick access to funds when you need them
    • No credit check required
    • Fewer requirements compared to traditional loans
  • Risks:
    • High-interest rates that can lead to a cycle of debt
    • Possible legal action if you can’t make your payments
    • Additional fees and charges for late payments

Regulations surrounding payday loans in Martelle, Iowa

In Iowa, payday lenders must be licensed and follow specific regulations enforced by the Iowa Division of Banking. Lenders must provide borrowers with a written loan agreement that outlines the terms and conditions of the loan, including the annual percentage rate (APR), the fees, and the repayment schedule. The maximum loan amount is $500, and lenders cannot charge more than 15% interest on the loan amount.

Interesting facts and statistics about payday loans in Martelle, Iowa

  • In 2019, there were 161 licensed payday lenders in Iowa.
  • The average APR for a payday loan in Iowa is 273%.
  • The average payday loan borrower in Iowa takes out eight loans per year.
  • Between 2015 and 2018, there were over 190,000 payday loans made in Iowa.

Apply Now

If you need to borrow money in Martelle, Iowa, TheGuaranteedLoans can help connect you with potential lenders. Simply fill out an online application on our website, and we’ll work to find a lender who meets your needs. Remember, TheGuaranteedLoans is not a direct lender, but rather a connector service that can help you find a loan that works for you.

Conclusion

Payday loans can be a useful financial tool when used responsibly and with caution. While they can provide quick access to funds when you need them, they can also come with high-interest rates and fees that can lead to a cycle of debt. If you’re considering a payday loan in Martelle, Iowa, be sure to do your research, understand the regulations, and only borrow what you can afford to repay. And if you do decide to apply for a loan, TheGuaranteedLoans can help connect you with potential lenders to give you the best chance of finding a loan that meets your needs.

F.A.Q.

Can a payday loan lender in Martelle, Iowa charge a penalty for early repayment of the loan?

No, a payday loan lender in Martelle, Iowa cannot charge a penalty for early repayment of the loan. In fact, borrowers are encouraged to pay off their loans as soon as possible to avoid high interest charges.

Is there a minimum loan term for payday loans in Martelle, Iowa?

Yes, the minimum loan term for payday loans in Martelle, Iowa is 14 days. However, lenders can offer longer loan terms if they choose to do so.