Payday Loans in Bowersville, Ohio

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

Company nameAddressZip codePhone number
Raymond James 1480 Hunting Hollow Dr, Hudson, OH 44236 +1 (330) 342 - 3800
Brookdale Trillium Crossing 3500 Trillium Crossing, Columbus, OH 43235 +1 (614) 734 - 1000
Huntington Mortgage Group 411 E N St, Columbus Grove, OH 45830 +1 (866) 917 - 4351
Park National Bank: Versailles Office 101 W Main St, Versailles, OH 45380 +1 (937) 526 - 3287
Northwest Bank 4455 Liberty Ave, Vermilion, OH 44089 +1 (440) 967 - 3124
Advance America 836 S Main St, Bowling Green, OH 43402 +1 (419) 353 - 9111
Park National Bank: Dresden Office 91 W Dave Longaberger Ave, Dresden, OH 43821 +1 (740) 754 - 2265
Coastal Finance Inc 790 S Erie Blvd, Hamilton, OH 45011 +1 (513) 868 - 0300
Raymond James Financial Services 225 N Main St, Celina, OH 45822 +1 (419) 584 - 2860
ACE Cash Express 2079 W 25th St, Cleveland, OH 44113 +1 (216) 781 - 9995

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Bowersville, OH, you can try to find different companies in big cities near by. Check out the following pages here: Emergency Loan in Hilliard, OH, 24-Hour Loan in Lakewood, OH, Same Day Loans in Lancaster, OH, Online Loans in Lima, OH, Same Day Loans in Lorain, OH, Payday Loan Without a Credit Check in Mansfield, OH, Payday Loans in Marion, OH and Quick Loan in Mason, 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 Bowersville, OH.

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

45307

Are Payday Loans Legal In Bowersville, 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 Bowersville, 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 Bowersville, Ohio. There's a default limit of $1,000 in Bowersville, 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

Bowersville, OH payday loan calculator

Advise to read before applying

Payday Loans in Bowersville, Ohio – What You Need to Know

Are you a resident of Bowersville, Ohio, and facing a financial emergency? Perhaps you need to pay an urgent bill, or you’ve encountered an unexpected expense that has left you in a fix? In situations like these, payday loans can be a helpful temporary solution.

Ohio state laws governing payday loans are reasonably liberal compared to other US states. This is good news for Bowersville residents looking to take out a payday loan. In this guide, we’ll take a closer look at payday loans in Bowersville to help you decide if this type of loan is the right fit for you.

What are Payday Loans?

Payday loans are best described as short-term loans that are due on your next payday. They are typically small loans, ranging from $50 to $1,000 in value, with a loan term of around two weeks. Payday loans differ from traditional loans in that they are usually unsecured and don’t require collateral. As a result, payday loans are speedy, convenient, and often more accessible to the wider population than traditional loans.

How do Payday Loans Work in Ohio?

Payday loans are perfectly legal in Ohio, subject to certain regulatory measures. The Ohio State government has placed control on the payday loan industry to protect consumers from predatory lenders. The Ohio Short-Term Loan Act regulates payday loans and limits the interest rate that lenders can charge, making payday loans more affordable for borrowers.

The maximum amount you can borrow via a payday loan in Ohio is $1,000. The maximum loan term is about 28 days for a $100 loan. While there is no cap on the interest rate for payday loans in Ohio, the Ohio Short-Term Loan Act mandates a maximum annual percentage rate of 28% on payday loans. Thus, the lender cannot charge you more than 28% of the loan principal as an interest rate.

The Advantages of Payday Loans in Bowersville, Ohio

One of the most significant benefits of taking out a payday loan in Bowersville is speedy access to funds. Payday loans are processed quickly, with many lenders promising same-day disbursements. If you need urgent cash to cater to an unexpected expense, a payday loan can keep you afloat until you can get back on your feet.

The fact that payday loans are relatively easy to access also makes them an attractive option for people with limited credit history. They don’t require a high credit score, making them accessible to people with bad credit scores or no credit score history at all.

Payday loans in Bowersville have reasonable interest rates, making them an affordable and convenient option for emergency cash needs.

The Risks of Payday Loans

While payday loans have their fair share of benefits, they also come with inherent risks. One of the most significant risks is the high-interest rate charged on most payday loans. The Annual Percentage Rate (ARP) charged can sometimes go up to 28%, making the loan very expensive to repay, especially if you’re late on the payment. This high interest rate has the potential to lead borrowers into a cycle of debt, making them unable to repay the loan on time and forcing them to borrow again.

The other risk of payday loans has to do with the aggressive loan collection tactics employed by many payday lenders. This includes harassing phone calls and even threats, making many borrowers feel powerless and vulnerable. As a borrower, it’s essential to familiarize yourself with Ohio state laws covering payday loans to protect yourself from unscrupulous lenders.

Facts and Statistics about Payday Loans in Bowersville, Ohio

  • According to a report by the Ohio Department of Commerce, there are currently 1,173 licensed payday lenders in Ohio, with over 2 million loans approved annually.
  • Collections practices for overdue payday loans in Ohio are regulated by Chapter 1345 of the Ohio Consumer Sales Practices Act.
  • According to a study by the Pew Charitable Trusts, the average payday loan borrower in Ohio completes 10 loan transactions annually, borrowing a total of $2,400.

Apply Now for Your Payday Loan with TheGuaranteedLoans

Are you in need of a payday loan in Bowersville, Ohio? TheGuaranteedLoans can help connect you with a lender. As an accredited connector service, we work with a vast network of reputable lenders. We can help you get the best deal on a payday loan that suits your needs. Apply now, and we’ll help you get the emergency cash you need!

Note that TheGuaranteedLoans are not a direct lender. Our role is to connect you with the right lender based on your needs and circumstances. We do not provide loans, nor do we make decisions on behalf of lenders. When you apply through TheGuaranteedLoans, you can expect professional service and quick results.

Conclusion

Payday loans are a viable option for quick cash in Bowersville, Ohio, providing convenient and affordable solutions for those undergoing a financial emergency. However, it’s important to be cautious and take note of the possible risks involved. Ohio state law governing payday loans is well-regulated, and as a borrower, you need to make sure you’re well informed before taking out a payday loan. If you’re interested in taking out a payday loan, make sure you apply through an accredited connector service like TheGuaranteedLoans and work only with reputable lenders.

F.A.Q.

What should I do if I cannot repay my payday loan in Bowersville, Ohio?

If you are unable to repay your payday loan in Bowersville, Ohio, it is important to contact the lender immediately. They may be able to offer assistance with a repayment plan or refer you to an organization that can help. It is important to avoid defaulting on the loan, as this can result in additional fees and damage to your credit score.

What are the consequences of defaulting on a payday loan in Bowersville, Ohio?

If you default on a payday loan in Bowersville, Ohio, the lender may pursue legal action to recover the outstanding balance. This can result in additional fees, damage to your credit score, and potentially even wage garnishment. It is important to make every effort to repay the loan in a timely manner to avoid these consequences.

Look for Short-Term Loans in Other Cities:

Akron Bowling Green Brunswick Canton Chillicothe Cincinnati Cleveland Columbus Cuyahoga Falls Dayton Delaware Dublin Elyria Euclid Fairborn Fairfield Findlay Grove City Hamilton Hilliard Lakewood Lancaster Lima Lorain Mansfield Marion Mason Massillon Mentor Middletown Newark North Olmsted North Ridgeville North Royalton Reynoldsburg Springfield Stow Strongsville Toledo Warren West Chester Westerville Westlake Youngstown
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Customer Notice: Cash advance loans should be used for short-term personal requirements primarily, not as long-term budgetary remedies. Clients together with credit score issues ought to look for credit advice. Subject to state regulations, qualification, credit check, underwriting and approval. Rates, terms and conditions apply

Client Guidance: Payday loans are generally designed as a temporary financial bridge that allows individuals to borrow a modest amount of money until their next paycheck arrives. This type of loan is often used as an immediate financial remedy for unforeseen expenses, especially for those lacking a financial cushion or significant savings. If you find yourself struggling to manage your finances and considering a payday loan, it's crucial to consult with a qualified financial advisor. It's also important to familiarize yourself with the specific payday loan laws in your jurisdiction.

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