Payday Loans in Salem, Iowa

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

Company nameAddressZip codePhone number
U.S. Bank Branch 1030 10th St, Onawa, IA 51040 +1 (712) 423 - 2121
Easy Cash Solutions 2660 Wiley Blvd SW, Cedar Rapids, IA 52404 +1 (319) 390 - 6954
Rolling Hills Bank & Trust 701 Main St, Anita, IA 50020 +1 (712) 762 - 3214
Check `n Go 411 W Agency Rd #3, West Burlington, IA 52655 +1 (563) 275 - 3742
Lincoln Savings Bank 1025 Main St, Grinnell, IA 50112 +1 (641) 236 - 3121
First Trust & Savings Bank 104 1st Ave, Donahue, IA 52746 +1 (563) 282 - 9800
Denver Savings Bank 121 S State St, Denver, IA 50622 +1 (319) 984 - 5635
Community 1st Credit Union 1008 W Bell Ave 103 Suite 103, Knoxville, IA 50138 +1 (641) 828 - 6775
United Community Bank 1006 Okoboji View Ave, Okoboji, IA 51355 +1 (712) 332 - 7717
U.S. Bank Branch 323 E Reed St, Red Oak, IA 51566 +1 (712) 623 - 4828

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Salem, IA, you can try to find different companies in big cities near by. Check out the following pages here: No Credit Check Loans in Bettendorf, IA, Payday Loans in Cedar Falls, IA, Payday Loans in Cedar Rapids, IA, Payday Loans in Council Bluffs, IA, Payday Loans in Davenport, IA, Payday Loans in Des Moines, IA, Payday Loans in Dubuque, IA and Same Day Loans in Iowa City, 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 Salem, IA.

Beautiful sights of Salem, IA

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

52649

Are Payday Loans Legal In Salem, 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

Salem, IA payday loan calculator

Payday Loans in Salem, Iowa

Payday loans are a common option for those who need cash quickly. These short-term loans have become increasingly popular in Iowa, and Salem is no exception. If you’re considering a payday loan in Salem, there are some important things you need to know.

What are Payday Loans?

Payday loans are short-term loans designed to help you cover unexpected expenses until your next payday. They are typically small, ranging from a few hundred to a few thousand dollars. The loans are meant to be repaid in full, along with interest, on your next payday.

Are Payday Loans Legal in Iowa?

Yes, payday loans are legal in Iowa. However, there are some regulations in place to protect consumers. For example, lenders are required to have a state license and follow certain guidelines when it comes to interest rates and fees.

Interest Rates and Fees

The interest rates on payday loans in Iowa are capped at $15 for every $100 borrowed. This means that if you borrow $500, you’ll have to pay $75 in interest. There may also be additional fees, such as origination fees, that can increase the overall cost of the loan.

Benefits of Payday Loans

There are some benefits to getting a payday loan in Salem. For one, they are easy to obtain. You can apply online or in person and receive your funds quickly. Additionally, payday loans are unsecured, meaning you don’t have to put up any collateral, such as a car or house, to get the loan.

Drawbacks of Payday Loans

While there are benefits to payday loans, there are also drawbacks. The biggest drawback is the high interest rates and fees. If you don’t repay the loan in full on your next payday, the interest and fees can quickly add up, making it difficult to pay back the loan. Additionally, payday loans can lead to a cycle of debt, where borrowers take out more loans to cover previous ones.

Interesting Facts and Statistics about Payday Loans in Salem, Iowa

– In 2020, the maximum payday loan amount in Iowa was $500.
– The average payday loan term in Iowa is 14 days.
– According to the Iowa Division of Banking, there were 233 licensed payday lenders in the state as of 2019.

Apply Now

If you need a payday loan in Salem, Iowa, TheGuaranteedLoans can help you connect with potential lenders. The application process is quick and easy, and you could receive your funds as soon as the next business day. Remember, TheGuaranteedLoans is a connector service, not a direct lender, and we work with a network of lenders to help you find the best loan for your needs.

Conclusion

Payday loans can be a helpful tool for those who need cash quickly. However, it’s important to understand the risks and costs associated with these loans before you apply. By following the guidelines and regulations set forth by the state of Iowa, you can make an informed decision about whether a payday loan is right for you.

F.A.Q.

Can I get a payday loan if I am self-employed in Salem, Iowa?

Yes, you can get a payday loan if you are self-employed in Salem, Iowa. You will need to provide proof of income, such as bank statements or tax returns, to qualify for a loan.

Are there any protections for borrowers who take out payday loans in Salem, Iowa?

Yes, there are protections for borrowers who take out payday loans in Salem, Iowa. The state government regulates the fees and interest rates that lenders can charge, and requires lenders to provide written disclosure of the terms and conditions of the loan.