Payday Loans in Friendship, Ohio

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

Company nameAddressZip codePhone number
Check Into Cash 906 N Memorial Dr, Lancaster, OH 43130 +1 (740) 681 - 1407
Farmers & Merchants State Bank 7001 Lighthouse Way, Perrysburg, OH 43551 +1 (419) 931 - 8892
Huntington Bank 205 West Ave, Tallmadge, OH 44278 +1 (330) 633 - 2863
First Service Federal Credit Union 255 E Main St, Columbus, OH 43215 +1 (614) 836 - 0100
Atomic Credit Union 107 N Jackson St, Oak Hill, OH 45656 +1 (740) 682 - 0836
Raymond James Financial Services, Dover Ohio 711 N Wooster Ave, Dover, OH 44622 +1 (330) 343 - 2212
Nicholas Financial Inc 911 Graham Rd 45, Cuyahoga Falls, OH 44221 +1 (330) 734 - 6767
Dollar Bank 7891 Mentor Ave, Mentor, OH 44060 +1 (440) 974 - 2785
Millstream Area Credit Union 1650 Fostoria Ave, Findlay, OH 45840 +1 (419) 422 - 5626
Payday Loans Dayton 3600-3998 Edgecliff Ave, Dayton, OH 45402

Payday Loan Companies in Nearby Cities

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

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

45630

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

Friendship, OH payday loan calculator

Understanding Payday Loans in Friendship, Ohio

Payday loans are a type of short-term loan that has become increasingly popular in recent years, especially in Friendship, Ohio. These loans have come under scrutiny due to their high-interest rates and the potential for borrowers to become trapped in a cycle of debt. In Ohio, however, payday loans are legal and regulated by state law. So, what exactly are payday loans and how do they work in Friendship, Ohio?

What are Payday Loans?

Payday loans are small loans typically ranging from $100 to $1,000 that are meant to be repaid on the borrower’s next payday. They are typically marketed to people who are struggling financially and need quick access to cash. The application process is relatively simple, and borrowers can usually receive their funds within 24 hours.

The repayment terms of payday loans are usually quite short, with the loan amount plus fees and interest due in full within two weeks to a month of borrowing the money. In Ohio, the state law limits the interest that lenders can charge to 28% APR on payday loans, significantly lower than in some other states.

How Do Payday Loans Work in Friendship, Ohio?

In Friendship, Ohio, borrowers can apply for payday loans online or in-store. Once the application is approved, borrowers will receive the funds directly into their bank account or in cash if they apply in-store. The repayment terms and interest rates will depend on the lender, but they cannot exceed 28% APR due to state law.

It’s worth noting that in Ohio, borrowers are limited to borrowing up to $1,000 or 25% of their gross monthly income, whichever is less. And, borrowers may only have one outstanding payday loan at a time. This regulation is aimed at protecting consumers from becoming trapped in a cycle of debt.

The Pros and Cons of Payday Loans

While payday loans can be a helpful source of short-term cash for some people in Friendship, Ohio, they also come with many risks and potential downsides. Here are some of the pros and cons of payday loans:

Pros

  • Quick access to funds: Borrowers can usually receive their funds within 24 hours of applying for a payday loan.
  • Easy application process: Payday loan applications are typically simple and straightforward, allowing borrowers to apply online or in-store with minimal paperwork.
  • No credit check required: Unlike traditional loans, payday lenders do not require a credit check, making them an option for people with poor credit scores or no credit history.

Cons

  • High-interest rates: Payday loans have high fees and interest rates, making them an expensive borrowing option.
  • Short repayment terms: The repayment terms for payday loans are typically quite short, often requiring the full loan amount to be paid back within two weeks to a month.
  • Potential for debt cycle: Some borrowers may be unable to repay their payday loans on time, leading to a cycle of debt and financial hardship.

Apply Now for a Payday Loan in Friendship, Ohio

Need quick access to cash in Friendship, Ohio? TheGuaranteedLoans can help connect you with potential lenders who offer payday loans at a low cost according to Ohio state regulations. As a loan connector service, we work with a network of reputable lenders who are dedicated to providing fair and transparent loan options. Fill out our online application today to get started!

Interesting Facts and Statistics about Payday Loans in Friendship, Ohio

  • The average amount borrowed through payday loans in Ohio is $332, with borrowers typically repaying $430 in fees and interest.
  • Payday loans account for approximately 30% of the financial industry’s revenue in Ohio.
  • Ohio is one of 29 states that allow payday lending, but it is one of the few states that regulates the industry to protect consumers.

In conclusion, payday loans can be a useful source of short-term cash for people in Friendship, Ohio, but they also come with many risks. It’s important to understand the terms and fees of a payday loan before agreeing to it and to only borrow what you can afford to repay. Contact TheGuaranteedLoans today to find a fair and low-cost payday loan option that works for you.

F.A.Q.

Are payday loans in Friendship, Ohio regulated by the state?

Yes, payday loans in Friendship, Ohio are regulated by the Ohio Department of Commerce, which sets the maximum interest rate and fees and ensures that lenders comply with state laws.

Can I get a payday loan in Friendship, Ohio if I am a military service member?

Yes, military service members are eligible for payday loans in Friendship, Ohio, but they are protected by the Military Lending Act, which limits the interest rate to 36% APR.