Payday Loans in Marathon, Ohio

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

Company nameAddressZip codePhone number
American Eagle Mortgage Huron, OH 366 Main St, Huron, OH 44839 +1 (419) 616 - 5300
Huntington Mortgage Group 501 W 3rd St, Defiance, OH 43512
CheckSmart 234 Pike St, Marietta, OH 45750 +1 (740) 374 - 6005
Capital Wealth Partners 429 2nd St, Portsmouth, OH 45662 +1 (740) 354 - 9900
Eagle Loan 771 Lost Creek Blvd b, Lima, OH 45804 +1 (419) 549 - 5859
First Federal Community Bank 119 S Sandusky Ave, Bucyrus, OH 44820 +1 (419) 562 - 7055
The Union Bank Co. 114 E 3rd St, Delphos, OH 45833 +1 (800) 837 - 8111
Eight Federal Credit Union 727 Lime City Rd 400, Rossford, OH 43460 +1 (419) 666 - 7334
store 950 N Main St, Findlay, OH 45840
First Bank of Ohio 34 N High St 500, Columbus, OH 43215 +1 (614) 621 - 7070

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Marathon, OH, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Delaware, OH, No Credit Check Loans in Dublin, OH, Payday Loans in Elyria, OH, 24-Hour Loan in Euclid, OH, Bad Credit Loans in Fairborn, OH, Bad Credit Loans in Fairfield, OH, Same Day Loans in Findlay, OH and 24-Hour Loan in Grove City, 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 Marathon, OH.

Beautiful sights of Marathon, OH

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

Marathon, OH payday loan calculator

Payday Loans in Marathon, Ohio

Payday loans, also known as cash advances, are small-dollar loans typically used to cover unexpected expenses or emergencies. In Ohio, payday loans are legal and regulated by the Ohio General Assembly’s House Bill 123, passed in 2018.

If you are considering a payday loan in Marathon, Ohio or the surrounding area, it is important to understand the regulations and requirements to make an informed decision.

The Cost of Payday Loans in Ohio

Under Ohio law, payday loan lenders are limited to charging a maximum interest rate of 28% on loans up to $1,000, and a 10% fee on loans between $1,001 and $2,500. Lenders are also limited to providing a maximum loan amount of $1,000.

It is important to note that while the interest rate and fees may seem lower than some other states, the short repayment terms on payday loans can lead to APRs (annual percentage rates) well over 400%, making them a costly option.

Requirements for Payday Loans in Marathon, Ohio

In order to qualify for a payday loan in Ohio, you must meet certain requirements, including:

  • Be at least 18 years old
  • Have a valid government-issued ID
  • Show proof of income
  • Provide your bank account information

It is important to note that payday lenders may also consider your credit score when determining loan eligibility and terms.

The Risks of Payday Loans

Payday loans can be a helpful resource in times of financial need, but they also carry significant risks. The short repayment terms and high interest rates can lead to a cycle of debt, where borrowers struggle to keep up with payments and fees.

According to a study by the Pew Charitable Trusts, 12 million Americans take out payday loans each year, with an average of eight loans of $375 each per year. The study also found that the average payday loan borrower spends five months per year in debt, and pays an average of $520 in fees for borrowing the same amount repeatedly.

It is important to carefully weigh the costs and risks before taking out a payday loan, and to consider exploring alternatives such as personal loans, credit counseling, or assistance from community organizations.

Interesting Facts and Statistics About Payday Loans in Marathon, Ohio

  • In Ohio, the average payday loan borrower takes out 10 loans per year, with an average loan size of $388 and an average APR of 591%.
  • In 2020, Ohio payday loan borrowers paid $185 million in fees alone, with an average fee of $15 per $100 borrowed.
  • A study by the Ohio Coalition for Responsible Lending found that payday lenders are disproportionately located in low-income and minority neighborhoods.
  • According to a 2018 survey by the Federal Reserve Bank of Cleveland, 1 in 10 Ohioans have taken out a payday loan in the past five years.

Apply Now

If you are in need of a payday loan in Marathon, Ohio, TheGuaranteedLoans is here to help. We are a connector service that works with a network of trusted lenders to help you find a loan that meets your needs and budget.

Our online application process is simple and secure, and you can receive your loan funds as soon as the next business day. It is important to note that while we are not a direct lender, we will work with you to find a lender that is a good fit for your needs.

Apply now to get the payday loan you need, and take the first step towards financial stability.

F.A.Q.

How do I repay a payday loan in Marathon, Ohio?

You can repay a payday loan in Marathon, Ohio by providing the lender with a post-dated check or authorizing them to withdraw the funds electronically from your bank account on the due date. You can also repay the loan in full or in part at any time before the due date without incurring any additional charges or fees.

What if I cannot repay a payday loan in Marathon, Ohio on time?

If you cannot repay a payday loan in Marathon, Ohio on time, you have the right to request an extended payment plan from the lender. Under this plan, the lender must allow you to make at least four payments over a 60-day period, with no additional fees or charges.