Payday Loans in Spencer, Ohio

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

Company nameAddressZip codePhone number
First Federal Bank 230 E 2nd St, Delphos, OH 45833 +1 (419) 695 - 1055
General Electric Credit Union Eastgate 4450 Eastgate Blvd 255, Cincinnati, OH 45245 +1 (513) 243 - 4328
Larry Brown - Raymond James 3983 E Knoll Crest Dr, Port Clinton, OH 43452 +1 (419) 734 - 9557
Kroger Money Services 1230 Rombach Ave, Wilmington, OH 45177 +1 (937) 655 - 5700
PNC Mortgage 117 South St, Chardon, OH 44024
KeyBank 8 N State St, Painesville, OH 44077 +1 (440) 352 - 5258
National Cash Advance 3490 Hudson Dr #4, Stow, OH 44224 +1 (330) 686 - 0770
Southern Hills Community Bank 223 N Main St, Lynchburg, OH 45142 +1 (937) 364 - 2861
CashMax Ohio 2012 S Limestone St, Springfield, OH 45505 +1 (937) 717 - 4065
Westfield Bank Two Park Cir, Westfield Center, OH 44251 +1 (800) 368 - 8930

Payday Loan Companies in Nearby Cities

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

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

44275

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

Spencer, OH payday loan calculator

Advise to read before applying

Payday Loans in Spencer, Ohio: What You Need to Know

Are you in a tight financial spot and considering a payday loan? With proper research and understanding, payday loans can be a useful tool for temporary financial assistance. In this article, we’ll provide you with an overview of payday loans in Spencer, Ohio, including how they work, what the state regulations are, and where you can apply.

How Payday Loans Work in Spencer, Ohio

Payday loans are a type of short-term loan, designed to provide cash assistance to individuals who experience unexpected financial expenses between paychecks. These loans are typically small, ranging from $50 to $1,500 and are intended to be repaid in full on the borrower’s next payday.

In Spencer, Ohio, payday loans are legal and regulated by state law. This means that there are limits on the amount that can be borrowed and the fees that lenders can charge.

State Regulations on Payday Loans in Ohio

Ohio law allows payday lenders to charge a maximum annual percentage rate (APR) of 28%, plus a one-time origination fee of 2.5% of the loan amount. Additionally, lenders cannot charge more than $20 for a returned check or payment. The term of a payday loan in Ohio cannot exceed 31 days, and borrowers are limited to taking out one loan at a time, with a maximum of four loans per year.

The state of Ohio also provides consumer protections for payday loan borrowers. Lenders are required to provide a written contract that outlines the terms and conditions of the loan, including the APR, fees, and repayment schedule. Borrowers have the right to cancel the loan within 72 hours without penalty and can request an extended repayment plan if they are unable to repay the loan on time.

Where to Apply for Payday Loans in Spencer, Ohio

If you are interested in applying for a payday loan in Spencer, Ohio, there are several options available to you. Many lenders operate in the state, and you can either apply online or in person at a storefront location. Before you apply, it’s essential to research different lenders and compare their rates and terms.

At TheGuaranteedLoans, we offer a convenient online application process that connects borrowers with potential lenders. As a connector service, not a direct lender, we work with a network of licensed lenders who are willing to provide payday loans in Ohio. Our process is simple and secure, and our online application takes only a few minutes to complete. Once you submit your application, we will match you with a lender who meets your needs, and you can receive your funds as soon as the next business day.

Interesting Facts and Statistics about Payday Loans in Spencer, Ohio

  • The average payday loan in Ohio is $325.
  • According to the Ohio Department of Commerce, there were 1,231 licensed payday lenders in Ohio in 2020.
  • Ohio residents borrowed $1.8 billion in payday loans in 2020.
  • The state of Ohio has some of the most robust consumer protections for payday loan borrowers in the country.
  • According to a survey conducted by the Pew Charitable Trusts, the majority of payday loan borrowers in Ohio use the loans for recurring expenses, such as utility bills and rent.

Apply Now for a Payday Loan in Spencer, Ohio

If you’re looking for a payday loan in Spencer, Ohio, TheGuaranteedLoans can help. Visit our website to fill out our online application and begin the process of finding a lender who meets your needs. Remember, our service is quick, secure, and free.

It’s important to keep in mind that payday loans are not a long-term financial solution and should only be used for temporary assistance. Before you borrow, make sure you understand all of the terms and conditions associated with the loan and have a plan for repayment.

Thank you for taking the time to learn about payday loans in Spencer, Ohio. We hope this article has provided you with valuable information and resources to make an informed decision about your financial needs.

F.A.Q.

Can a payday lender require me to agree to arbitration or waive my legal rights in Spencer, Ohio?

No, a payday lender cannot require you to agree to arbitration or waive your legal rights in Spencer, Ohio. These types of provisions are prohibited by Ohio law, and if a lender is attempting to enforce them, you can contact the Ohio Attorney General's Consumer Protection Section to report the violation and request assistance.

Can a payday lender access my bank account or debit my account without my permission in Spencer, Ohio?

No, a payday lender cannot access your bank account or debit your account without your permission in Spencer, Ohio. If a lender is attempting to do so, you can contact your bank and request that they block the lender's access to your account. You can also contact the Ohio Attorney General's Consumer Protection Section to report the violation and request assistance.

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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