Payday Loans in Peru, Iowa

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

Company nameAddressZip codePhone number
MoneyGram 110 N 25th St, Fort Dodge, IA 50501 +1 (515) 576 - 2155
Farmers State Bank 401 Main St, Lake View, IA 51450 +1 (712) 657 - 8525
Rolling Hills Bank & Trust 214 Main St, Rippey, IA 50235 +1 (515) 436 - 8231
American State Bank 16 20th St SE, Sioux Center, IA 51250 +1 (712) 722 - 4847
Bank Iowa - Humboldt Drive-up 1302 5th Ave N, Humboldt, IA 50548 +1 (515) 332 - 1808
Farm Credit Services of America 105 Theater Cir, Perry, IA 50220 +1 (515) 465 - 5318
U.S. Bank Branch 113 Broadway St, Carson, IA 51525 +1 (712) 484 - 2253
Principal Financial Group 152 W Gillet St, Preston, IA 52069
Check Into Cash 2325 Cumberland Square Drive, Bettendorf, IA 52722 +1 (563) 355 - 6930
United States Postal Service 100 E Main St, Luxemburg, IA 52056 +1 (800) 275 - 8777

Payday Loan Companies in Nearby Cities

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

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

50222

Are Payday Loans Legal In Peru, 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

Peru, IA payday loan calculator

Payday Loans in Peru, Iowa

Payday loans are a type of short-term loan that has become popular in many states across the United States. In the state of Iowa, payday loans are legal and regulated by legislation. If you’re in a tough financial spot in Peru, Iowa, a payday loan may be a possible solution. But before applying, it’s important to understand what payday loans are and how they work.

What Are Payday Loans?

Payday loans are short-term loans that are typically due on the borrower’s next payday. These loans come with high interest rates and fees, and are designed to help people who need cash quickly to cover their expenses until they receive their next paycheck.

In Iowa, the maximum amount of a payday loan is $500, and the term cannot exceed 31 days. Lenders may charge up to $15 for each $100 borrowed, which means that if you borrow $500, you’ll be required to pay back $575.

How Do Payday Loans Work?

Getting a payday loan is relatively simple. You can apply online or in-person at a payday loan store. To apply, you’ll need to provide proof of income, a bank account, and personal identification. The lender will review your application and determine if you’re eligible for a loan. If you’re approved, you’ll receive your money in the form of a check, prepaid debit card, or direct deposit into your bank account.

Keep in mind that payday loans are short-term loans and come with high-interest rates and fees, so it’s important to pay back the loan on time. If you’re unable to pay back the loan on time, you may be charged additional fees and interest, which can make it even harder to pay back the loan.

The Pros and Cons of Payday Loans

Like any financial product, payday loans have pros and cons. Here are some of the pros and cons of payday loans in Peru, Iowa:

Pros:

  • Quick access to cash
  • No credit check required
  • No collateral required

Cons:

  • High-interest rates and fees
  • Short repayment term
  • Risk of falling into a debt cycle

Interesting Facts and Statistics about Payday Loans in Peru, Iowa

According to a report by the Iowa Division of Banking, there were 64 licensed payday loan companies in Iowa in 2019. These lenders made over 400,000 loans, with a total loan value of over $220 million.

The report also found that the average payday loan in Iowa is $288, and the average APR is 273%. The average borrower takes out 10 loans per year, and the average loan term is 13 days.

These statistics highlight the popularity of payday loans in Iowa and the potential financial risk that comes with them. It’s important to carefully consider your options and only take out a payday loan if you’re confident that you can pay it back on time.

Apply Now for a Payday Loan in Peru, Iowa

If you’re in need of a payday loan in Peru, Iowa, TheGuaranteedLoans can help you find a lender. Our online application process is quick and easy, and we connect you with potential lenders who can meet your needs. Keep in mind that we are a connector service, not a direct lender, and we do not make credit decisions or lend money directly. Apply now to get started.

F.A.Q.

Are there any restrictions on the number of times a borrower can renew a payday loan in Peru, Iowa?

Yes, in Peru, Iowa, a borrower can only renew a payday loan twice. After the second renewal, the borrower must pay off the loan in full or enter into a payment plan with the lender.

Can a payday loan lender in Peru, Iowa provide a borrower with a grace period before repayment is due?

Yes, a payday loan lender in Peru, Iowa can provide a borrower with a grace period before repayment is due. However, the lender is not required to do so, and the length of the grace period is at the discretion of the lender.