Payday Loans in Forestdale, Rhode Island

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No payday loan companies in Forestdale, RI. Consider companies in other cities:

Company nameAddressZip codePhone number
Advance America 751 Mineral Spring Ave, Pawtucket, RI 02860 +1 (401) 725 - 2310
The Gold Loan Company Pawn Brokers 2376 Mendon Road, Cumberland, RI 02864 +1 (401) 765 - 2274
Check `n Go 112 Douglas Ave Ste 101, Providence, RI 02908 +1 (401) 274 - 0653
Bank of America Financial Center 1455 Newport Ave, Pawtucket, RI 02861 +1 (401) 722 - 6009
Bank of America with Drive-thru ATM 375 Broad St, Central Falls, RI 02863 +1 (401) 721 - 2206
People's Credit Union 858 W Main Rd, Middletown, RI 02842 +1 (800) 498 - 8930
Bank of America with Drive-thru ATM 9 Franklin St, Westerly, RI 02891 +1 (401) 348 - 2888
Professional Planning Group 9 Granite St, Westerly, RI 02891 +1 (401) 596 - 2800
Regional Financing Co 31 James P Murphy Ind Hwy, West Warwick, RI 02893 +1 (401) 615 - 7775
Ocean State Credit Union 1584 Nooseneck Hill Rd, Coventry, RI 02816 +1 (401) 397 - 1900

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Forestdale, RI, you can try to find different companies in big cities near by. Check out the following pages here: Guaranteed Loans in North Providence, RI, 24-Hour Loan in Pawtucket, RI, Payday Loans in Providence, RI, Payday Loan for Warwick, RI, Short-term Loans in Woonsocket, RI, Payday Loan for Coventry, RI, Payday Loans in Cranston, RI and Payday Loans in Cumberland, RI. 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 Forestdale, RI.

Are Payday Loans Legal In Forestdale, Rhode Island?

Loan Rates and Fees, Laws and Regulations in Rhode Island.

Rhode Island Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)261
Maximum Loan Amount$500
Minimum Loan Term13 days
Maximum Loan TermNot Specified
Number of Rollovers Allowed1
Finance Charges10% of the amount advanced

Forestdale, RI payday loan calculator

Understanding Payday Loans in Forestdale, Rhode Island

If you’re in a financial bind and need cash fast, getting a payday loan in Forestdale, Rhode Island, can seem like a quick and easy solution. Payday loans provide borrowers with immediate cash, and the application process is simple and straightforward. However, before applying for a payday loan, it’s important to understand how they work and the potential risks involved.

What is a Payday Loan?

A payday loan is a short-term loan that provides you with funds to cover unexpected expenses until your next paycheck. The amount you can borrow varies, but typically, payday loans in Forestdale range from $100 to $1,000. The loan must be paid back in full, along with any fees and interest, on your next payday.

Payday loans are legal in Rhode Island, and they are tightly regulated by the state’s Department of Business Regulation. Lenders must be licensed and follow strict guidelines for fees and interest rates.

How to Apply for a Payday Loan in Forestdale

Applying for a payday loan in Forestdale is simple. You can either visit a storefront lender or apply online. To apply, you need to provide the lender with your personal information, employment details, and bank account information, so they can deposit the funds and collect the repayment on your payday.

The lender will verify your information and determine how much you qualify for based on your income and expenses. If you’re approved, you’ll receive the funds in your bank account within 24 hours.

The Risks of Payday Loans

While payday loans can provide quick cash, they also come with some significant risks:

  • High interest rates: Payday loans in Forestdale come with high fees and interest rates. The interest rates can be as high as 260% APR, which means that if you borrow $500, you could end up paying back $650 or more.
  • Short repayment terms: Payday loans must be paid back in full on your next payday. If you can’t pay back the loan, you’ll be charged additional fees and interest, which can make it even more difficult to repay.
  • Debt cycle: Many borrowers find themselves stuck in a cycle of debt, where they continually take out payday loans to cover their expenses. This can lead to a dangerous cycle of debt that can be difficult to break.
  • Scams and fraud: Some payday lenders in Forestdale engage in fraudulent or unethical practices to extract money from borrowers. It’s important to work with a reputable lender and carefully read the terms and conditions before signing up for a loan.

Interesting Facts and Statistics

  • According to the Rhode Island Department of Business Regulation, the average payday loan in Forestdale is $350.
  • As of 2019, there were 29 licensed payday loan lenders in Rhode Island.
  • Since 2006, the maximum APR for payday loans in Rhode Island has been capped at 36%.

Apply Now

If you’re in need of quick cash, TheGuaranteedLoans can connect you with a variety of lenders in Forestdale, Rhode Island. Simply fill out our online application form, and we’ll match you with a lender who meets your needs. Remember, TheGuaranteedLoans is a connector service, not a direct lender, and we work with only reputable lenders who adhere to all state laws and regulations.

Apply now and get the cash you need!

F.A.Q.

Are there any restrictions on the number of payday loans I can have at once in Forestdale, Rhode Island?

Yes, in Forestdale, Rhode Island you are only allowed to have one outstanding payday loan at a time.

Is there a minimum loan term for payday loans in Forestdale, Rhode Island?

Yes, the minimum loan term for payday loans in Forestdale, Rhode Island is 13 days.