Payday Loans in Pilot Mound, Iowa

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

Company nameAddressZip codePhone number
Check n Go 1702 W Broadway Ste 5, Council Bluffs, IA 51501 +1 (515) 608 - 8213
Payday Express 1404 Hamilton Blvd, Sioux City, IA 51103 +1 (712) 252 - 1652
Jackson Hewitt Tax Service 415 Industrial Ave, Grinnell, IA 50112 +1 (641) 638 - 3201
Iowa State Bank 301 Plymouth St, Le Mars, IA 51031 +1 (712) 541 - 6575
Midstates Bank 300 Front St, Neola, IA 51559 +1 (712) 485 - 2245
Federation Bank 107 Richland St, Richland, IA 52585 +1 (319) 456 - 2265
Check Into Cash 4013 Shopper's Blvd, Waterloo, IA 50701 +1 (877) 262 - 2274
Fast Cash of America 1701 3rd Ave E # 2, Oskaloosa, IA 52577 +1 (641) 672 - 2753
Jan M Spielman - Ameriprise Financial Services, LLC 722 Lake Ave N, Storm Lake, IA 50588 +1 (712) 732 - 2375
Walmart Money Center 101 115th St, Anamosa, IA 52205 +1 (319) 462 - 4311

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Pilot Mound, IA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Dubuque, IA, Payday Loan for Iowa City, IA, Payday Loans in Marion, IA, Payday Loans in Sioux City, IA, Payday Loans in Urbandale, IA, Payday Loan Companies in Waterloo, IA, 24-Hour Loan in West Des Moines, IA and Payday Loans in Ames, 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 Pilot Mound, IA.

Beautiful sights of Pilot Mound, IA

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

50223

Are Payday Loans Legal In Pilot Mound, 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

Pilot Mound, IA payday loan calculator

Payday Loans in Pilot Mound, Iowa – A Comprehensive Guide

When facing a financial emergency, many people in Pilot Mound, Iowa, turn to payday loans as a quick solution. Payday loans are a type of short-term loan that allows borrowers to get cash quickly, usually within a day. In Iowa, payday loans are legal, subject to certain regulations and consumer protections designed to prevent abuse and predatory lending practices.

How Payday Loans Work

Payday loans are typically small, ranging from $100 to $1,000, and have a short repayment period, usually between two and four weeks. Borrowers must provide proof of income and a valid ID, but no credit check is necessary. The loan amount and fees are deducted directly from the borrower’s bank account on the due date.

Payday loans are often used to cover unexpected expenses, such as car repairs, medical bills, or utility bills, or to make ends meet until the next paycheck arrives. However, they can also be used for nonessential expenses, such as vacations or luxury items, which can result in a cycle of debt.

Payday Loan Regulations in Iowa

In Iowa, payday lending is regulated by the Iowa Division of Banking, which enforces the Iowa Deferred Deposit Transaction Act. This law requires lenders to be licensed, caps the maximum loan amount at $500 and the maximum fee at $15 for every $100 borrowed, and limits borrowers to two loans at a time. Payday lenders are also required to provide borrowers with a written contract detailing the terms and conditions of the loan, including the APR.

Additionally, Iowa law requires lenders to offer an extended payment plan at no additional cost to borrowers who are unable to repay the loan on time. The plan must be offered before the loan is due and allows borrowers to repay the loan in four equal installments over four weeks, with no additional fees or interest.

Risks of Payday Loans

While payday loans can be a lifesaver in an emergency, they come with significant risks. The high fees and short repayment periods can make it difficult for borrowers to repay the loan on time, leading to a cycle of debt. According to a report by the Consumer Financial Protection Bureau, more than 80% of payday loans are rolled over or followed by another loan within 14 days, with borrowers paying more in fees than the amount borrowed.

Another risk of payday loans is their impact on credit scores. Since payday lenders do not report to credit bureaus, timely repayment of a payday loan will not improve a borrower’s credit score. However, late or missed payments can negatively impact credit scores and lead to collection efforts and legal action.

Interesting Facts and Statistics

  • There were 597 licensed payday lenders in Iowa in 2020.
  • The average payday loan amount in Iowa is $307.
  • Iowa payday lenders charged an average of 268% APR on loans in 2019.
  • Iowa borrowers took out over 500,000 payday loans in 2019, totaling $158 million in loans.

Apply Now

If you’re considering a payday loan in Pilot Mound, Iowa, TheGuaranteedLoans can help you find a lender. As a connector service, we work with a network of trusted lenders who specialize in short-term lending and can offer competitive rates and flexible repayment terms. To apply, simply fill out our online application, and we’ll match you with a lender who meets your needs. Remember, payday loans should be used responsibly and as a last resort to avoid falling into a cycle of debt and financial difficulties.

F.A.Q.

Can I get a payday loan if I have bad credit in Pilot Mound, Iowa?

Yes, you can get a payday loan if you have bad credit in Pilot Mound, Iowa. Payday lenders typically do not conduct a traditional credit check and base their decision on your income and ability to repay the loan.

How do I apply for a payday loan in Pilot Mound, Iowa?

To apply for a payday loan in Pilot Mound, Iowa, you can visit a storefront lender or apply online. You will need to provide proof of income, a valid government-issued ID, and a checking account in good standing.