Payday Loans in Homerville, Ohio

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

Company nameAddressZip codePhone number
Check Into Cash 1204 Park Ave W, Mansfield, OH 44903 +1 (419) 528 - 3214
Hocking Valley Bank 2511 Cemetery St, Coolville, OH 45723 +1 (740) 667 - 6000
National Check Cashers 3967 Hoover Rd, Grove City, OH 43123 +1 (614) 539 - 9700
Walmart Money Center 6955 Miller Ln, Dayton, OH 45414 +1 (937) 454 - 6200
Twin Valley Bank 2 E Dayton St, West Alexandria, OH 45381 +1 (937) 839 - 4628
Peoples Bank 48 N South St, Wilmington, OH 45177 +1 (937) 382 - 1441
Peoples Bank 221 S 2nd St, Byesville, OH 43723 +1 (740) 685 - 1500
Huntington Mortgage Group 616 E 1st St, Minerva, OH 44657
Bank of America with Drive-thru ATM 9825 Sawmill Pkwy, Powell, OH 43065 +1 (614) 339 - 4828
U.S. Bank Branch 214 Factory St NE, Sugarcreek, OH 44681 +1 (330) 852 - 2446

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Homerville, OH, you can try to find different companies in big cities near by. Check out the following pages here: Quick Loan in Westlake, OH, Payday Loans in Youngstown, OH, Payday Loans in Akron, OH, Payday Loans in Bowling Green, OH, Guaranteed Loans in Brunswick, OH, Payday Loan Without a Credit Check in Canton, OH, Bad Credit Loans in Cincinnati, OH and Emergency Loan in Cleveland, 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 Homerville, OH.

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

Homerville, OH payday loan calculator

Advise to read before applying

Payday Loans in Homerville, Ohio: Everything You Need to Know

When it comes to handling unexpected financial emergencies, payday loans can be a lifesaver for people living in Ohio. Homerville, Ohio is no exception. As a legal option to borrow money, payday loans are a popular choice among those who need quick cash to cover bills, rent, or other unforeseen expenses.

In this article, we’ll dive deep into the world of payday loans in Homerville, Ohio. From understanding the laws and regulations to finding the right lender, by the end of this article, you’ll have a comprehensive understanding of everything you need to know before applying for a payday loan in Homerville, Ohio.

How Do Payday Loans Work?

Payday loans are short-term loans designed to help people cover unexpected expenses until their next paycheck. These loans typically have a repayment period of two weeks to a month, coinciding with the borrower’s next payday. Payday loans carry high-interest rates since they’re considered high-risk loans. As per Ohio state law, payday lenders in Homerville, Ohio can charge a maximum interest rate of 28% annually, plus a processing fee of 1.08% for a 14-day loan.

To apply for a payday loan in Homerville, Ohio, the borrower must fill out an application form, providing personal and financial information and proof of income. Once the application is approved, the lender will typically deposit the funds into the borrower’s checking account the same or next business day.

Ohio’s Payday Loan Regulations

Payday loans are legal in Ohio, and Homerville has numerous lenders offering this service. To receive a payday loan in Ohio, the borrower must be at least 18 years old and must provide proof of income and a valid ID. The maximum amount of payday loans in Ohio is $1,000, and the repayment period can be up to six months. Additionally, Ohio’s Short-term Loan Act requires that lenders must cap the interest rate at 28% annually and pay a small processing fee of 1.08% of the loan amount.

It is essential to note that while payday loans are legally allowed in Ohio, these loans can carry high-interest rates, which can make it challenging for borrowers to repay the loan in full on their next payday. Ohio’s Short-term Loan Act requires lenders to provide a written agreement that outlines all of the loan’s terms and conditions. It is crucial to read and understand these terms before accepting the loan.

Benefits and Drawbacks of Payday Loans

Like any other financial product, payday loans come with benefits and drawbacks. Here are a few things to consider before applying for a payday loan in Homerville, Ohio:

Benefits:

  • Rapid approval and funding process.
  • No collateral needed to secure the loan.
  • Relatively easy application process.
  • May offer a solution when other credit options are not available.

Drawbacks:

  • High-interest rates can make the loan costly.
  • Potential to fall into debt cycle with high-interest rates and fees.
  • Not a long-term solution for bigger financial problems.
  • The loan amount might not be sufficient to meet larger financial needs.

Interesting Facts and Statistics about Payday Loans in Homerville, Ohio

  • According to The Columbus Dispatch, Ohio payday lenders charged an average interest rate of 271% in 2019.
  • In 2020, Ohio payday lenders made over 1.5 million loans with a total loan balance of over $4 billion.
  • As of 2021, there are approximately 754 licensed payday and auto title lenders in Ohio.
  • According to a report by Pew Charitable Trusts, Ohio payday borrowers are more likely to get trapped in a cycle of debt, with four out of five borrowers having to re-borrow their payday loan within a month.

Apply Now for a Payday Loan in Homerville, Ohio

If you are considering applying for a payday loan in Homerville, Ohio, TheGuaranteedLoans can help connect you with the right lender. As a reliable connector service, we can help you find a payday loan lender that suits your needs while ensuring reliable and speedy services.

Our online application process is easy to use, and we work with reputable lenders who offer competitive rates and terms. Apply now for your payday loan in Homerville, Ohio, and get the financial assistance you need to cover unexpected expenses today.

F.A.Q.

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

To apply for a payday loan in Homerville, 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 Homerville, Ohio?

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

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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