Payday Loans in Silver City, Iowa

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

Company nameAddressZip codePhone number
Security State Bank 1 E State St, Algona, IA 50511 +1 (515) 295 - 9501
U.S. Bank ATM - Humboldt Drive-Up in Parking Lot 701 Sumner Ave, Humboldt, IA 50548 +1 (800) 872 - 2657
Advance America 2480 E Euclid Ave, Des Moines, IA 50317 +1 (515) 265 - 7100
Marine Credit Union West Des Moines 909 9th St, West Des Moines, IA 50265 +1 (515) 867 - 2200
Hometown Cash Advance 323 Franklin St, Waterloo, IA 50703 +1 (319) 833 - 7777
Great Western Bank 11 N 1st Ave, Marshalltown, IA 50158 +1 (641) 754 - 5505
Cherokee State Bank 212 W Willow St, Cherokee, IA 51012 +1 (712) 225 - 3000
DeWitt Bank & Trust Co. 815 6th Ave, DeWitt, IA 52742 +1 (563) 659 - 3211
Regions Bank 25 N. Frederick Street, Oelwein, IA 50662 +1 (319) 238 - 6600
Hometown Cash Advance 405 E Main St, Anamosa, IA 52205 +1 (319) 462 - 6118

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Silver City, IA, you can try to find different companies in big cities near by. Check out the following pages here: Same Day Loans in Waterloo, IA, Payday Loan Companies 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, No Credit Check Loans in Cedar Rapids, IA and Payday 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 Silver City, IA.

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

51571

Are Payday Loans Legal In Silver City, 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

Silver City, IA payday loan calculator

Advise to read before applying

Payday loans are short-term loans that typically come with high-interest rates and fees. They are an easy solution for those who need quick cash without having to go through the traditional loan application process. In Silver City, Iowa, payday loans are legal, but there are certain regulations that lenders must follow to ensure consumer protection.

How Payday Loans Work in Silver City, Iowa

In Silver City, Iowa, payday loans are governed by the Iowa Division of Banking. Lenders are required to have a valid license to offer payday loans in the state. The maximum loan amount a borrower can take out is $500, and the loan term cannot exceed 31 days. Lenders can charge up to $15 for every $100 borrowed, which translates to an annual percentage rate (APR) of 390%.

To apply for a payday loan in Silver City, Iowa, a borrower must provide proof of income, a checking account, and a government-issued ID. Once the loan is approved, the borrower will receive the funds either in cash or via direct deposit into their checking account.

The Risks of Payday Loans

While payday loans may seem like a quick and easy solution for those in need of cash, they come with high risks. The high-interest rates and fees associated with payday loans can make it difficult for borrowers to repay the loan on time, leading to a cycle of debt. In fact, according to a report by the Consumer Financial Protection Bureau, nearly 80% of payday loans are renewed or followed by another loan within 14 days.

Additionally, if a borrower cannot repay the loan on time, they risk damaging their credit score and facing legal action from the lender. It is important to only take out a payday loan if absolutely necessary and to carefully consider the risks involved.

Interesting Facts and Statistics About Payday Loans in Silver City, Iowa

  • In 2019, Iowans took out nearly 550,000 payday loans, totaling over $220 million in loans.
  • The average loan amount in Iowa was $383, and the average APR was 293%.
  • Iowa is one of 32 states that allow payday lending, but the state has some of the strictest regulations in place to protect consumers.

Apply Now

If you are in need of a payday loan in Silver City, Iowa, TheGuaranteedLoans can help connect you with potential lenders. Our online application process is simple and easy to use. Please keep in mind that we are a connector service and not a direct lender. We work with a network of trusted lenders who may be able to offer you a loan that meets your needs. Apply now to get started.

Note: Payday loans are not a long-term financial solution and should only be used in emergency situations. Borrowers should carefully consider the risks and costs associated with payday loans before applying.

F.A.Q.

Are there any restrictions on the number of payday loans a borrower can take out in Silver City, Iowa?

Yes, in Silver City, Iowa, a borrower is limited to taking out a maximum of two payday loans at any given time.

Can a lender require a borrower to provide collateral for a payday loan in Silver City, Iowa?

No, a lender cannot require a borrower to provide collateral for a payday loan in Silver City, Iowa. Payday loans are unsecured loans, which means they do not require collateral.

Look for Short-Term Loans in Other Cities:

Ames Ankeny Bettendorf Cedar Falls Cedar Rapids Council Bluffs Davenport Des Moines Dubuque Iowa City Marion Ottumwa Sioux City Urbandale Waterloo West Des Moines
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Customer Notice: Cash advance loans should be used for short-term personal requirements primarily, not as long-term budgetary remedies. Clients together with credit score issues ought to look for credit advice. Subject to state regulations, qualification, credit check, underwriting and approval. Rates, terms and conditions apply

Client Guidance: Payday loans are generally designed as a temporary financial bridge that allows individuals to borrow a modest amount of money until their next paycheck arrives. This type of loan is often used as an immediate financial remedy for unforeseen expenses, especially for those lacking a financial cushion or significant savings. If you find yourself struggling to manage your finances and considering a payday loan, it's crucial to consult with a qualified financial advisor. It's also important to familiarize yourself with the specific payday loan laws in your jurisdiction.

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