Payday Loans in Troy Mills, Iowa

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

Company nameAddressZip codePhone number
Hardin County Abstract & Title 1300 Edgington Ave, Eldora, IA 50627 +1 (641) 858 - 5555
Luana Savings Bank 16390 Holcomb Ct, Clive, IA 50325 +1 (515) 987 - 2116
First Heritage Bank 801 S Fremont St, Shenandoah, IA 51601 +1 (712) 246 - 5118
Great Western Bank 316 S Duff Ave, Ames, IA 50010 +1 (515) 232 - 4304
Menke & Company CPA 3915 Main St, Keokuk, IA 52632 +1 (319) 524 - 1040
Mister Money USA 1417 4th St SW, Mason City, IA 50401 +1 (641) 423 - 3525
Bank Iowa - Fredericksburg 165 N Woodward Ave, Fredericksburg, IA 50630 +1 (563) 237 - 5200
Ag Resource Management 831 S Oak St, Iowa Falls, IA 50126 +1 (641) 316 - 3022
DuTrac Community Credit Union 2900 S 25th St suite a, Clinton, IA 52732 +1 (563) 242 - 1080
Great Western Bank 404 W Lincoln Hwy, Nevada, IA 50201 +1 (515) 382 - 5408

Payday Loan Companies in Nearby Cities

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

Are Payday Loans Legal In Troy Mills, 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

Troy Mills, IA payday loan calculator

Understanding Payday Loans in Troy Mills, Iowa

Payday loans are a popular form of short-term lending that can help individuals with unexpected expenses or bills. These loans can be a valuable tool for individuals who need quick cash but may not have access to traditional forms of credit due to poor credit scores or other factors.

Legal Status of Payday Loans in Iowa

It is important to note that payday loans are legal in Iowa. However, the state has implemented regulations to protect borrowers from predatory lending practices. Iowa law requires that payday loan companies be licensed and comply with strict rules regarding interest rates, fees, and loan amounts.

How Payday Loans Work

Payday loans are typically small-dollar loans that are due in full on the borrower’s next payday. To qualify for a payday loan, borrowers typically must have a steady income and an active checking account. The lender will ask for the borrower’s personal information, such as their name, address, and Social Security number, as well as proof of income and employment.

  • The loan amount is typically based on the borrower’s income, and may be limited by state regulations.
  • The lender will typically charge a fee or interest rate on the loan, which can vary depending on the borrower’s creditworthiness and the lender’s policies.
  • The borrower must repay the loan in full on their next payday, which can be a challenge for some individuals who may be struggling with other expenses or bills.
  • If the borrower cannot repay the loan in full, the lender may offer a rollover or renewal option, which can extend the repayment date but may also lead to additional fees and interest charges.

The Pros and Cons of Payday Loans

Payday loans can be a helpful tool for individuals who need quick cash to cover unexpected expenses or bills. However, it is important to consider the potential risks and disadvantages of these loans before borrowing.

  • Pros: Payday loans are typically available to borrowers with poor credit or no credit, making them a viable option for individuals who may not be able to qualify for other forms of credit.
  • Cons: Payday loans come with high interest rates and fees, which can make them very expensive for borrowers. Additionally, the short repayment period can make it difficult for borrowers to repay the loan in full on their next payday, which can lead to more fees and interest charges.

Interesting Facts and Statistics

  • According to a report from the Iowa Division of Banking, as of 2021, there were 186 licensed payday loan companies operating in the state of Iowa.
  • The report also found that the average loan amount for Iowa payday loans was $341.79, and the average finance charge was $58.58.
  • Additionally, the report identified a total of 284,279 payday loan transactions in Iowa in 2020, with a total loan volume of $97,028,522.

Applying for a Payday Loan with TheGuaranteedLoans

TheGuaranteedLoans is a connector service that can help match borrowers with potential lenders who may be able to offer payday loans. Our online application process is simple and secure, and borrowers can get a loan decision in minutes. It is important to note that TheGuaranteedLoans is not a direct lender, and we do not make credit decisions. Instead, we work with a network of trusted lending partners to help connect borrowers with the loans they need.

In Conclusion

Payday loans can be a helpful tool for individuals who need quick cash to cover unexpected expenses or bills. However, it is important to consider the potential risks and costs associated with these loans, and to only borrow what you can afford to repay. If you are considering a payday loan in Troy Mills, Iowa, TheGuaranteedLoans may be able to help.

Apply now and see if you qualify for a payday loan today!

F.A.Q.

Can I have more than one payday loan at a time in Troy Mills, Iowa?

Yes, you can have more than one payday loan at a time in Troy Mills, Iowa. However, the total amount borrowed cannot exceed $500.

Can I be sued or have my wages garnished if I default on a payday loan in Troy Mills, Iowa?

Yes, if you default on a payday loan in Troy Mills, Iowa, the lender may take legal action against you, including suing you or garnishing your wages.