Payday Loans in McDonald, Kansas

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No payday loan companies in McDonald, KS. Consider companies in other cities:

Company nameAddressZip codePhone number
Bank of Burlingame 115 S Topeka Ave, Burlingame, KS 66413 +1 (785) 654 - 2421
Central National Bank ATM 231 E Main St, Marion, KS 66861 +1 (888) 262 - 5456
US Check Cashing 3212 State Ave, Kansas City, KS 66102 +1 (913) 621 - 6050
ATM - Bank Midwest 1506 S Main St, Ottawa, KS 66067 +1 (800) 867 - 2265
Waconda Boats and Motors - Kansas 408 N Center St, Glen Elder, KS 67446 +1 (785) 545 - 3545
Barri Agent 146 N 8th St, Garden City, KS 67846
U.S. Bank ATM - at Crosby Place 719 S Kansas Ave, Topeka, KS 66603 +1 (800) 872 - 2657
Waddell & Reed, Inc. - Financial Advisors 1701 Landon St, Hutchinson, KS 67502 +1 (620) 860 - 1701
Helping Hand Quick Cash 1414 Industrial Rd, Emporia, KS 66801 +1 (620) 342 - 8999
Advance America 4100 E Harry St Unit 10, Wichita, KS 67218 +1 (316) 687 - 0909

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in McDonald, KS, you can try to find different companies in big cities near by. Check out the following pages here: Quick Loan in Leawood, KS, Guaranteed Loans in Lenexa, KS, Payday Loan Companies in Manhattan, KS, Payday Loans in Olathe, KS, Payday Loan Without a Credit Check in Overland Park, KS, Online Loans in Salina, KS, Payday Loans in Shawnee, KS and Bad Credit Loans in Topeka, KS. 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 McDonald, KS.

Payday Loans Available in McDonald, KS By The Following ZIP Codes:

67745

Are Payday Loans Legal In McDonald, Kansas?

Loan Rates and Fees, Laws and Regulations in Kansas.

Payday loans made to McDonald, Kansas residents may only be for $500 for the first loan and $300 for each additional loan. The lender must give a monthly statement in which the borrower will see how much money was borrowed, how much was repaid, and how much the total cost of the loan is. The Kansas Finance Charge on payday loans is a standard $15 per $100 borrowed. The APR for payday loans in McDonald, Kansas is 391%.

Multiple payday advances are not allowed and banks cannot make loans to the same borrower for more than $500 on the borrower’s written agreement. There must be at least 7 days between successive loans and the lender must return a payment made before deducting finance charges if the lender could not reasonably have expected the advance to be paid.

Kansas Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)391
Maximum Loan Amount$500
Minimum Loan Term7 days
Maximum Loan Term30 days
Number of Rollovers AllowedNot specified
Finance Charges15% of the amount advanced

McDonald, KS payday loan calculator

Payday Loans in McDonald, Kansas: What You Need to Know

Payday loans are short-term loans designed to help individuals meet financial emergencies. In McDonald, Kansas, payday loans are legal and regulated by the state. If you’re looking for a quick and easy way to borrow money, then a payday loan might be the right option for you. But before you take the plunge, it’s essential to understand the basics of payday loans.

How Payday Loans Work

Payday loans are typically due in full on your next payday. To apply for a payday loan, you’ll need to provide your lender with proof of income, your checking account information and a post-dated check or authorization for withdrawal. Once you apply, the lender will give you the money you need, and you’ll be required to repay it on your next payday, along with any fees and interest.

The amount you can borrow depends on factors such as your income, the lender’s policies and state laws. In McDonald, Kansas, payday loan amounts are capped at $500, and lenders are required to give you a written agreement that states the fees, interest rates and repayment terms of your loan.

Benefits of Payday Loans

One of the biggest advantages of payday loans is their quick processing time. Unlike other types of loans, payday loans are designed to be processed within a day or two, making them ideal for emergency situations. Additionally, payday loans do not require collateral like other loans, making them accessible to individuals who may not have assets to put up.

Another benefit of payday loans is that they do not require a perfect credit score. Even if you have a bad credit score, you can still qualify for a payday loan. Your lender will typically only require proof of income and a checking account. This makes payday loans an option for individuals who may not qualify for other types of loans.

Risks of Payday Loans

While payday loans can be an excellent option for short-term financial needs, they also come with risks. One of the most significant risks is the high-interest rates and fees associated with these loans. In some cases, the annual interest rates on payday loans can reach as high as 400%. Additionally, if you are not able to repay your loan on time, you may be subject to penalty fees and increased interest rates.

Another risk associated with payday loans is the potential for a debt cycle. Because payday loans are typically due on your next payday, it can be challenging to break the cycle of borrowing. This may lead to further financial difficulties down the line.

Interesting Facts about Payday Loans in McDonald, Kansas

  • The average payday loan amount in Kansas is $307.
  • In 2019, payday loan borrowers in Kansas paid an average annual percentage rate of 391%.
  • Between 2015 and 2019, payday loan borrowers in Kansas paid over $309 million in fees and interest.

Apply Now

If you’re in need of a payday loan in McDonald, Kansas, TheGuaranteedLoans can help. We are a connector service, not a direct lender, and we can help you find potential lenders who can provide you with the funds you need. To get started, simply fill out our online application, and we will match you with a lender who can meet your needs.

Remember to borrow responsibly and only take out what you can afford to repay. While payday loans can be a helpful financial tool, they should be used sparingly and only in emergency situations.

F.A.Q.

Can I be charged with a crime for taking out a payday loan in McDonald, Kansas?

No, taking out a payday loan in McDonald, Kansas is not a crime. However, if you intentionally provide false information on your loan application, you may be subject to criminal charges.

Can a payday lender take legal action against me in McDonald, Kansas if I default on my loan?

Yes, if you default on your payday loan in McDonald, Kansas, the lender may take legal action to recover the funds. This could include wage garnishment, a judgment against you, or other legal action. It is important to communicate with the lender and try to come up with a repayment plan if you are unable to make your payments on time.