Payday Loans in Saint Marys City, Maryland

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No payday loan companies in Saint Marys City, MD. Consider companies in other cities:

Company nameAddressZip codePhone number
BB&T - Upper Cross Roads Branch 2401 Baldwin Mill Rd, Fallston, MD 21047 +1 (410) 692 - 2403
SunTrust Bank 1700 Rosemont Ave, Frederick, MD 21702 +1 (240) 772 - 3954
Enterprise Rent-A-Car 1242 Ocean Hwy, Pocomoke City, MD 21851 +1 (410) 957 - 4420
Bank of America Financial Center 9150 Baltimore National Pike, Ellicott City, MD 21042 +1 (410) 465 - 8712
Jefferson Security Bank 103 W Main St, Sharpsburg, MD 21782 +1 (301) 432 - 3900
Farmers & Merchants Bank 25 Westminster Pike, Reisterstown, MD 21136 +1 (410) 517 - 3060
Chris McCready, CPA 12865 H G Trueman Rd, Lusby, MD 20657 +1 (410) 326 - 6290
SunTrust 800 Muddy Branch Rd, Gaithersburg, MD 20878 +1 (301) 556 - 9965
1st Command Financial Planning 219 W Bel Air Ave # 7, Aberdeen, MD 21001 +1 (410) 272 - 0727
PNC Bank 104 Marlboro Ave, Easton, MD 21601 +1 (410) 820 - 6080

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Saint Marys City, MD, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Bethesda, MD, Payday Loans in Bowie, MD, Payday Loans in Catonsville, MD, Payday Loan for Clinton, MD, Payday Loans in College Park, MD, Short-term Loans in Columbia, MD, Payday Loan for Dundalk, MD and Payday Loans in Ellicott City, 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 Saint Marys City, MD.

Beautiful sights of Saint Marys City, MD

Are Payday Loans Legal In Saint Marys City, 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

Saint Marys City, MD payday loan calculator

Payday Loans in Saint Marys City, Maryland: An Overview

Payday loans provide a quick solution for those who need cash urgently. These loans are typically small, short-term loans that are paid back on the borrower’s next payday. However, payday loans have become a controversial topic in recent years due to their high interest rates and potential to trap borrowers in debt cycles.

Are Payday Loans Legal in Maryland?

In Maryland, payday loans are prohibited by law. This means that lenders cannot offer payday loans to residents of the state. However, some lenders try to bypass this law by offering loans online or from out-of-state lenders. Residents of Maryland should be cautious when considering taking out a payday loan.

Why are Payday Loans Prohibited in Maryland?

The state of Maryland has prohibited payday loans due to the high interest rates and fees associated with these loans. Payday loans can carry interest rates that exceed 300%. This means that if a borrower takes out a $500 loan, they may end up paying over $1,500 in interest and fees. This puts borrowers at risk of falling into a debt cycle that can be difficult to escape from.

What are the Alternatives to Payday Loans in Maryland?

If you are in need of cash quickly in Maryland, there are alternatives to payday loans. Some options include:

  • Personal loans from a credit union or bank
  • Credit cards with a lower interest rate than payday loans
  • Loans from family or friends
  • Assistance programs offered by the state of Maryland

It’s important to carefully consider all options before taking out a loan. Borrowers should ensure that they can repay the loan on time and avoid falling into a debt cycle.

Interesting Facts about Payday Loans in Saint Marys City, Maryland

  • Payday loans were first introduced in Maryland in the early 1990s.
  • The average payday loan in Maryland is $300.
  • In 2016, Maryland passed a law that capped interest rates on loans at 33%.
  • The Consumer Financial Protection Bureau found that 80% of payday loans are rolled over or renewed within two weeks, leading to additional fees and interest charges.

Apply Now

If you are in need of cash quickly, TheGuaranteedLoans can help connect you with potential lenders. Our online application is quick and easy to fill out. Please note that TheGuaranteedLoans is not a direct lender, but a connector service that facilitates connections with potential lenders. All loan terms and conditions are between you and the lender.

Apply now to see if you qualify for a loan.

F.A.Q.

Can a payday loan company garnish my wages in Saint Marys City, Maryland?

No, a payday loan company cannot garnish your wages in Saint Marys City, Maryland because these loans are illegal in the state.

Can a payday loan company repossess my property in Saint Marys City, Maryland?

No, a payday loan company cannot repossess your property in Saint Marys City, Maryland because these loans are illegal in the state.