Payday Loans in Beloit, Ohio

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No payday loan companies in Beloit, OH. Consider companies in other cities:

Company nameAddressZip codePhone number
E Z Acceptance Corporation 2110 Copley Rd, Akron, OH 44320 +1 (330) 835 - 4520
loanDepot 1100 Tiffin Ave, Findlay, OH 45840 +1 (419) 504 - 7950
The Henry County Bank 122 E Washington St, Napoleon, OH 43545 +1 (419) 599 - 1065
Cashland 5495 Hall Rd 2, Columbus, OH 43228 +1 (614) 335 - 0015
Advance America 119-A Ridge Road, Newton Falls, OH 44444 +1 (330) 872 - 1392
Caliber Home Loans 8136 Beechmont Ave, Cincinnati, OH 45255 +1 (513) 813 - 4700
M & M Pawn & Loan LLC 315 North St, Lancaster, OH 43130 +1 (740) 653 - 4800
Belmont Savings Bank 298 OH-7, Powhatan Point, OH 43942 +1 (740) 795 - 4565
Advance America 1248 Columbus Ave #13, Lebanon, OH 45036 +1 (513) 228 - 0218
PNC Bank 2221 W Michigan St, Sidney, OH 45365 +1 (937) 498 - 4761

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Beloit, OH, you can try to find different companies in big cities near by. Check out the following pages here: Same Day Loans in Lancaster, OH, Payday Loans in Lima, OH, Short-term Loans in Lorain, OH, Payday Loans in Mansfield, OH, Payday Loans in Marion, OH, Same Day Loans in Mason, OH, Bad Credit Loans in Massillon, OH and Payday Loan Without a Credit Check in Mentor, OH. 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 Beloit, OH.

Beautiful sights of Beloit, OH

Payday Loans Available in Beloit, OH By The Following ZIP Codes:

44609

Are Payday Loans Legal In Beloit, Ohio?

Loan Rates and Fees, Laws and Regulations in Ohio.

One good thing with these loans is that they give borrowers time to get back on their feet: while the states allow taking out payday loans for longtime periods, the lenders try not to let their customers pay them more than once. That way, they can avoid losing their money. Usually, you should contact the lender with a new request after avoiding using a loan for 6-12 months. What are the advantages of taking out payday loans? If you're in need of urgent funds to pay for an important expense, these can come as a life-saver: you get money to solve your problems quickly and easily (taking into consideration your location).

What's payday lending in Beloit, Ohio? A payday lending institution offers private short-term unsecured loans. You are expected to repay the loan amount along with finance charges within no longer than 365. In other words, you have a job that guarantees you regular income at least monthly, or some stable investment income (if it's greater than interest rate for payday loans) and simple financial status (no overdrafts or unpaid bills). To make sure that you repay your loans on time and lack no essential expenditures, try cutting down non-necessary expenses and save up some money before taking out such financial contracts. Take into consideration your financial situation while choosing one: make sure that there's no other way to come by urgent money and avoid borrowing too much by taking out several payday loans.

Payday lending is legal in Beloit, Ohio. There's a default limit of $1,000 in Beloit, Ohio, so take out several payday loans if needed. The maximum finance charges are 28% per annum (APR).

Ohio Loan Regulations

Legal StatusLegal (at a low cost)
Interest Rate (APR, %)28
Maximum Loan Amount$1,000
Minimum Loan Term91 days
Maximum Loan Term1 year
Number of Rollovers Allowed0
Finance Charges0.28

Beloit, OH payday loan calculator

Understanding Payday Loans in Beloit, Ohio

Payday loans are a popular form of short-term borrowing among individuals who may not qualify for a traditional bank loan. These types of loans are especially prevalent in Ohio, where they are legal and widely accessible to residents.

If you’re considering taking out a payday loan in Beloit, Ohio, it’s essential to understand how they work, their benefits and drawbacks, and the laws and regulations that govern them.

How Do Payday Loans Work?

Unlike traditional bank loans, payday loans are typically easier to apply for and require minimal documentation or credit checks. They are usually for small amounts, ranging from $100 to $1,000, and must be repaid within two to four weeks.

Payday loans in Beloit, Ohio, are usually issued with the borrower’s paycheck or income in mind. To apply for a payday loan, a borrower must provide proof of employment or a steady source of income. The lender will typically deposit the loan amount into the borrower’s bank account, and the loan balance, including fees and interest, will be debited from their account on the repayment date.

Benefits of Payday Loans

One of the major benefits of payday loans is that they are accessible to individuals with poor credit or no credit. This accessibility makes them an option when traditional loans are unavailable or unaffordable.

Additionally, payday loans are quick and straightforward to apply for, with the application process taking only a few minutes. If approved, the loan amount is usually deposited into the borrower’s account within 24 hours.

Drawbacks of Payday Loans

Payday loans have several drawbacks that potential borrowers should be aware of. First, they often come with high-interest rates and fees, including finance charges and administrative fees.

The high-interest rates and fees often make it harder for borrowers to repay their loan, leading to a cycle of debt and dependency on payday loans.

Laws and Regulations Governing Payday Loans in Beloit, Ohio

Payday loans are legal in Ohio, but the state has put in place some restrictions to protect consumers. For instance, the maximum loan amount is capped at $1,000, and the interest rate cannot exceed 28% APR.

Additionally, payday loan lenders in Beloit, Ohio, cannot lend more than 25% of a borrower’s gross salary in a single loan. Borrowers can only take out one loan at a time, and the repayment term for payday loans is limited to 31 days or less.

Interesting Facts and Statistics about Payday Loans in Beloit, Ohio

  • Payday loans are widely accessible to Ohio residents, with more than 1,600 payday loan storefronts in the state.
  • In Ohio, the average payday loan borrower takes out nine loans per year and spends an average of 212 days in debt annually.
  • The Ohio House of Representatives passed a payday lending reform bill in 2018, but it was later scrapped by State Senators.

Apply Now for a Payday Loan in Beloit, Ohio

If you’re interested in taking out a payday loan in Beloit, Ohio, TheGuaranteedLoans can help connect you with potential lenders. Our online application process is simple and straightforward, and we work with a network of trustworthy lenders.

It’s essential to remember that we are not a direct lender and that the loan terms and conditions will be determined by the lender you are connected with. We offer a safe and secure way to submit your application and have helped many individuals access the cash they need quickly and efficiently.

Don’t hesitate and apply now to get connected with the best payday loan lenders in Beloit, Ohio!

F.A.Q.

How do I apply for a payday loan in Beloit, Ohio?

To apply for a payday loan in Beloit, Ohio, you must be at least 18 years old and have a valid ID, proof of income, and a bank account. You can apply online, by phone, or in person at a payday lending store.

How much can I borrow with a payday loan in Beloit, Ohio?

The maximum amount that you can borrow with a payday loan in Beloit, Ohio is $1,000. However, the actual amount that you can borrow will depend on your income and the lender's lending policies.