Payday Loans in Gomer, Ohio

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

Company nameAddressZip codePhone number
First National Bank 497 E Aurora Rd, Macedonia, OH 44056 +1 (330) 468 - 0055
Park National Bank: Lancaster East Office 1001 E Main St, Lancaster, OH 43130 +1 (740) 653 - 5598
West End Loan 1113 Vine St, Cincinnati, OH 45202 +1 (513) 241 - 3803
Advance America 4662 Cemetery Rd, Hilliard, OH 43026 +1 (614) 876 - 0581
Larry's Super Pawn, Inc. 2875 W Market St, Warren, OH 44485 +1 (330) 898 - 4197
Farmers National Bank 617 Bradshaw Ave, East Liverpool, OH 43920 +1 (330) 386 - 7462
TopMark Federal Credit Union 2301 Allentown Rd, Lima, OH 45805 +1 (419) 228 - 4321
Auto Loan Inc 1250 W Main St B, Kent, OH 44240 +1 (330) 677 - 2888
Ohio Auto Loan Services, Inc. 3070 Manchester Rd, Akron, OH 44319 +1 (330) 644 - 4023
First American Loans 450 Lancaster Pike, Circleville, OH 43113 +1 (740) 420 - 9138

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Gomer, OH, you can try to find different companies in big cities near by. Check out the following pages here: Short-term Loans in Massillon, OH, Payday Loan Without a Credit Check in Mentor, OH, Payday Loans in Middletown, OH, Payday Loans in Newark, OH, Payday Loans in North Olmsted, OH, Payday Loans in North Ridgeville, OH, Emergency Loan in North Royalton, OH and Payday Loans in Reynoldsburg, 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 Gomer, OH.

Useful Articles

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

Gomer, OH payday loan calculator

Advise to read before applying

Payday loans have become an increasingly popular way for many Americans to get fast, short-term money when they need it. While these loans can help borrowers in a financial bind, they can also be a double-edged sword. That is why it is crucial to understand the ins and outs of payday loans in Gomer, Ohio.

What are payday loans?

Payday loans are loans that provide borrowers with fast cash quickly without the need for a credit check. These loans are meant to be short-term, usually for a period of two weeks to a month. Borrowers usually use payday loans to cover unexpected expenses, such as a broken-down car or medical bills. Payday loans are popular with borrowers in Gomer, Ohio, as the state laws allow consumers to receive payday loans at an affordable price.

How do payday loans work in Gomer, Ohio?

In Ohio, payday loans are legal but are regulated by the Ohio Short-Term Loan Act. Lenders must be licensed and cannot charge more than 28% interest on a payday loan. Additionally, the loan amount cannot exceed $1,000 or 25% of the borrower’s gross monthly income. Borrowers have a maximum of six months to pay back the loan and a minimum of 91 days. The law prohibits lenders from charging prepayment penalties. Some people can obtain payday loans through TheGuaranteedLoans website instantly once they have filled out an application.

The benefits of payday loans in Gomer, Ohio

Payday loans can provide benefits to people who need fast cash. They can help with unexpected bills, medical emergencies, and other expenses that might otherwise cause financial difficulties. Ohio state law allows borrowers to get payday loans at an affordable cost. For borrowers who need the additional cash, payday loans can be an excellent option.

Risks of payday loans in Gomer, Ohio

While payday loans can provide quick access to cash, they also come with some risks. The fees and interest rates on payday loans can be very high, which means that borrowing money through them can become expensive quickly. Borrowers must fully understand what they are getting into. Predatory lenders may also take advantage of borrowers who are already struggling financially, making it difficult to pay back the loan on time.

How to borrow wisely

Before taking out a payday loan, it is essential to understand exactly how much it’s going to cost you. Borrowers can estimate the overall cost of the loan by looking at the interest rate and the loan’s length. You should also make sure that you can afford to pay back the loan before applying for it. Payday loans should only be used as a last resort, and whenever possible, other options such as credit union loans or credit cards should be explored.

Interesting facts and statistics about payday loans in Gomer, Ohio

  • From 2016 to 2020, the number of payday loans in Ohio decreased from 4.9 million to 1.3 million.
  • The average payday loan borrower in Ohio earns around $32,000 per year.
  • 40% of payday loan borrowers in Ohio use payday loans more than 8 times per year.
  • 75% of payday loan borrowers in Ohio take out a new loan within two weeks of repaying their previous loan.
  • The average interest rate for a payday loan in Ohio is 591%.

Apply Now

If you need fast cash and meet Ohio’s payday loan requirements, consider filling out an application through TheGuaranteedLoans website. Please note that TheGuaranteedLoans is a connector service and not a lender. Your application will be forwarded to a network of potential lenders who may offer you a loan. You should always read the loan terms carefully and understand the full fees involved before entering into any loan agreement.

F.A.Q.

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

Yes, payday loans in Gomer, 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 Gomer, Ohio if I am a military service member?

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

Look for Short-Term Loans in Other Cities:

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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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