Payday Loans in Meriden, Iowa

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

Company nameAddressZip codePhone number
Lincoln Savings Bank 932 Parriott St, Aplington, IA 50604 +1 (319) 347 - 2305
Great Southern Bank 2727 Hamilton Blvd, Sioux City, IA 51104 +1 (712) 277 - 0207
Peoples State Bank 415 W Chestnut St, Harpers Ferry, IA 52146 +1 (563) 586 - 8036
Check Into Cash 1709 N Jefferson Way Suite 300, Indianola, IA 50125 +1 (515) 639 - 3016
LPL Financial 105 Valley St, Burlington, IA 52601 +1 (319) 754 - 1137
Community Bank & Trust 229 Main St, Columbus Junction, IA 52738 +1 (319) 728 - 2226
North Star Community CU 1030 S 2nd St, Cherokee, IA 51012 +1 (712) 225 - 5731
Jackson Hewitt Tax Service 2203 A Ave W, Oskaloosa, IA 52577 +1 (641) 672 - 7528
Farmers Savings Bank & Trust 401 B Ave, Vinton, IA 52349 +1 (319) 472 - 2373
Advance America 2324 Spruce Hills Dr, Bettendorf, IA 52722 +1 (563) 359 - 7474

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Meriden, IA, you can try to find different companies in big cities near by. Check out the following pages here: No Credit Check Loans in Des Moines, IA, Payday Loans in Dubuque, IA, Payday Loan Companies in Iowa City, IA, Short-term Loans in Marion, IA, Quick Loan in Sioux City, IA, Payday Loans in Urbandale, IA, Payday Loans 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 Meriden, IA.

Beautiful sights of Meriden, IA

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

51037

Are Payday Loans Legal In Meriden, 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

Meriden, IA payday loan calculator

Payday Loans in Meriden, Iowa: Everything You Need to Know

If you reside in Meriden, Iowa, and are considering a payday loan, you’re in luck – payday loans are legal in Iowa. While payday loans provide a quick way to bridge the gap between paychecks, they’re not without controversy. Before applying for one, it’s important to understand what you’re agreeing to and weigh the pros and cons.

Payday Loans: What Are They?

A payday loan is a short-term, high-interest loan effective for bridging the gap between paychecks. To receive one, an individual must provide identification, proof of income, and a checking account number. The loan is given in exchange for a signed check or a postdated electronic access to the borrower’s checking account. On their next payday, the borrower is required to pay back the loan along with accumulated interest and fees.

Payday Loans in Meriden, Iowa: Are They Legal?

Payday loans are legal in Iowa. However, the state sets some limits on the loan amount, interest rates, and fees. Payday loan lenders in Iowa can lend up to $500 with an interest rate no greater than 15%. Additionally, they cannot charge more than $15 for the first $100 borrowed and $10 for every additional $100 borrowed over that amount. Iowa also requires a minimum loan term of 31 days.

Pros of Payday Loans

While payday loans come with high-interest rates and fees, they can also be beneficial in certain situations. Some of the pros of payday loans include:

  • Quick approval process: Since payday lenders aren’t as selective as traditional lenders, the approval process is faster, and funds can be received within 24 hours in most cases.
  • No credit check: Payday lenders do not require a credit check, which makes it a viable option for individuals with poor credit scores.
  • Flexibility: There are few restrictions on how payday loan funds can be used. Borrowers can use the funds to pay for unexpected expenses, such as car repairs or medical bills, or just to make ends meet until the next paycheck arrives.

Cons of Payday Loans

Payday loans come with high-interest rates and fees, which can make them less attractive than other lending options. Additionally, they carry a risk of falling into a cycle of debt that can be difficult to escape. Some of the cons of payday loans include:

  • High-interest rates and fees: The interest rate on payday loans can be as high as 400%, and fees can quickly add up, making it difficult to pay off the loan in full.
  • Cycle of debt: Since payday loans must be repaid in full on the next payday, borrowers may struggle to pay the full amount and continue to fall further into debt.
  • Potential for fraud: Some payday lenders may engage in fraudulent practices, such as charging hidden fees or changing loan terms. Borrowers should only use reputable payday lenders.

Interesting Facts or Statistics about Payday Loans in Meriden, Iowa

  • In 2019, there were over 200 payday loan stores in Iowa, with over $38 million in annual payday loan fees.
  • The average payday loan borrower in Iowa takes out eight loans annually, with an average loan amount of $341.
  • 57% of Iowans who have taken out a payday loan report struggling to pay their bills after taking out a payday loan.

Apply Now

If you’re considering a payday loan in Meriden, Iowa, TheGuaranteedLoans.com can help. We are proud to connect borrowers with potential lenders and simplify the loan application process.

It’s important to note that TheGuaranteedLoans is not a direct lender but a lender matching service. By filling out our online application, you can connect with lenders who match your unique financial needs. If you’re approved, you’ll receive the funds directly from your lender. To get started, fill out our online application today. It’s easy, fast, and secure!

Conclusion

While payday loans can be a helpful option in certain situations, it’s essential to understand the risks before committing to one. Borrowers in Meriden, Iowa, should research their options carefully and only use reputable lenders. By following these steps, you can make an informed decision and gain the financial flexibility you need.

F.A.Q.

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

Yes, there are restrictions on the types of fees that a payday loan lender in Meriden, 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 Meriden, Iowa report a borrower's delinquent loan to a credit bureau?

Yes, a payday loan lender in Meriden, 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.