Payday Loans in Big Pool, Maryland

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No payday loan companies in Big Pool, MD. Consider companies in other cities:

Company nameAddressZip codePhone number
United Check Cashing 726 S Salisbury Blvd, Salisbury, MD 21801 +1 (410) 677 - 3100
Rosedale Federal Savings & Loan Association 6249 Kenwood Ave, Rosedale, MD 21237 +1 (410) 866 - 5621
Anchor Loan Company 3419 Belair Rd, Baltimore, MD 21213 +1 (410) 485 - 2274
Farm Credit of the Virginias 13195 Garrett Hwy, Oakland, MD 21550 +1 (301) 334 - 8542
Bank of America Financial Center 1070 W Patrick St, Frederick, MD 21703 +1 (301) 698 - 6080
Sandy Spring Bank Trust 17735 Georgia Ave, Olney, MD 20832 +1 (800) 399 - 5919
Farmers Bank of Willards 7484 Market St, Willards, MD 21874 +1 (410) 835 - 8906
Lendmark Financial Services LLC 8519 Liberty Rd, Randallstown, MD 21133 +1 (410) 922 - 9525
Sandy Spring Bank 26250 Ridge Rd, Damascus, MD 20872 +1 (301) 774 - 8408
Chesapeake Bank of Maryland 3820 Mountain Rd I, Pasadena, MD 21122 +1 (410) 360 - 1100

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Big Pool, MD, you can try to find different companies in big cities near by. Check out the following pages here: Same Day Loans in College Park, MD, Payday Loans in Columbia, MD, Payday Loan Without a Credit Check in Dundalk, MD, Same Day Loans in Ellicott City, MD, Payday Loans in Essex, MD, Payday Loan for Frederick, MD, Online Loans in Gaithersburg, MD and Short-term Loans in Germantown, MD. 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 Big Pool, MD.

Beautiful sights of Big Pool, MD

Payday Loans Available in Big Pool, MD By The Following ZIP Codes:

21711

Are Payday Loans Legal In Big Pool, Maryland?

Payday Lending is Prohibited in Maryland

Maryland Loan Regulations

Legal StatusProhibited
Interest Rate (APR, %)Prohibited
Maximum Loan AmountProhibited
Minimum Loan TermProhibited
Maximum Loan TermProhibited
Number of Rollovers AllowedProhibited
Finance ChargesProhibited

Big Pool, MD payday loan calculator

Payday loans in Big Pool, Maryland: What You Need to Know

Payday loans are small, short-term loans that are designed to help people with immediate financial needs. While they may seem convenient, it’s important to understand the laws and regulations surrounding payday loans in Big Pool, Maryland. Here’s what you need to know.

Payday loans are prohibited in Maryland

It’s essential to know that payday loans are prohibited in Maryland. The Maryland Department of Labor, Licensing, and Regulation has made it illegal for lenders to offer payday loans in the state. It’s important to understand that this law protects Maryland residents from the high fees and interest rates associated with payday loans. So, if you live in Big Pool, Maryland, you won’t be able to get a payday loan.

Why are payday loans prohibited in Maryland?

The reason is simple – payday loans are considered predatory lending. They often come with extremely high interest rates and fees that can trap borrowers in a cycle of debt. In Maryland, the maximum interest rate for loans is 24%, but payday lenders have been known to charge interest rates up to 600% or more. And while payday loans are marketed as a short-term solution, many borrowers end up rolling over their loans, which only increases the interest and fees they owe.

What are the alternatives to payday loans in Big Pool?

If you are facing a financial emergency, there are alternatives to payday loans that you can consider. One option is to talk to your creditors and negotiate a payment plan or a temporary extension on your bills. You can also reach out to community organizations that can offer financial assistance and support. Additionally, you can consider a personal loan from a credit union or online lender.

Interesting Facts and Statistics about Payday Loans in Maryland

  • In 2002, Maryland passed legislation that capped the interest rates on loans at 33%. In 2019, Maryland lawmakers passed additional legislation that prohibited payday loans altogether.
  • The average payday loan borrower in Maryland takes out 8 loans per year, with an average loan of $375.
  • In 2017, Maryland residents paid approximately $48 million in fees and interest on payday loans.

Apply Now with TheGuaranteedLoans

If you’re in need of a loan, TheGuaranteedLoans can help you find potential lenders willing to offer you a loan. We are a connector service and can help match you with lenders who can offer personal loans, installment loans, and other borrowing options that fit your needs. We make the process fast, easy, and convenient. Simply fill out our online application and get matched with potential lenders today.

Remember, TheGuaranteedLoans is not a direct lender, so you won’t be borrowing directly from us. Instead, we facilitate connections between potential borrowers and lenders to help you get the money you need when you need it most.

In Conclusion

If you live in Big Pool, Maryland, payday loans are not an option. However, there are other options available to help you manage your financial situation. Remember to always do your research, understand your rights and responsibilities as a borrower, and avoid high-interest loans that can trap you in a cycle of debt.

If you’re in need of a loan, TheGuaranteedLoans can help connect you with potential lenders who can offer you a loan that fits your needs. Apply now and get connected today!

F.A.Q.

What are the alternatives to payday loans in Big Pool, Maryland?

Consumers in Big Pool, Maryland can seek out small, short-term loans from credit unions or banks, or can consider using a credit card or personal loan for financial emergencies.

Why are payday loans prohibited in Big Pool, Maryland?

Payday loans are prohibited in Big Pool, Maryland due to their high interest rates and fees, which can trap consumers in a cycle of debt.