Payday Loans in Damon, Texas

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No payday loan companies in Damon, TX. Consider companies in other cities:

Company nameAddressZip codePhone number
Texas First Bank 2385 State Hwy 87, Port Bolivar, TX 77650 +1 (409) 684 - 3523
IIC Finance 108 W 8th St, Plainview, TX 79072 +1 (806) 293 - 2591
Western Finance 1612 W Oaklawn Rd # B, Pleasanton, TX 78064
Cash America Pawn 2321 E 7th St, Austin, TX 78702 +1 (512) 476 - 0377
Texas Home Health 1313 N Hobart St, Pampa, TX 79065 +1 (806) 665 - 9700
Enterprise Rent-A-Car 2603 Olton Rd, Plainview, TX 79072 +1 (806) 296 - 0177
Cash Store 895 N Hwy 77, Waxahachie, TX 75165 +1 (972) 937 - 3522
Mineola Community Bank SSB 500 S Main St, Winnsboro, TX 75494 +1 (903) 342 - 5611
Loan Express 120 W San Antonio St, San Marcos, TX 78666 +1 (512) 392 - 6637
No Wait Loans 13132 Veterans Memorial Dr, Houston, TX 77014 +1 (281) 895 - 9696

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Damon, TX, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in DeSoto, TX, Payday Loan for Duncanville, TX, Payday Loans in Edinburg, TX, Payday Loan Companies in El Paso, TX, Payday Loan Without a Credit Check in Euless, TX, Guaranteed Loans in Farmers Branch, TX, Quick Loan in Flower Mound, TX and Payday Loans in Fort Worth, TX. 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 Damon, TX.

Payday Loans Available in Damon, TX By The Following ZIP Codes:

77430

Are Payday Loans Legal In Damon, Texas?

Loan Rates and Fees, Laws and Regulations in Texas.

Texas Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)662
Maximum Loan AmountNot Specified
Minimum Loan Term7 days
Maximum Loan TermVaries
Number of Rollovers Allowed0
Finance Charges>$30 => $1 for each $5 [$30 – $100] => 1/10 of the loan amount + $3 /mo (<$35) [$35 – $70] => $3.50/mo + $4/mo (>$70) >$100 => $10 + $4/mo for each $100

Damon, TX payday loan calculator

Payday Loans in Damon, Texas: All You Need to Know

Payday loans, also known as cash advances, are designed to provide quick and easy access to funds for those who need money urgently. They are short-term loans that usually come with high-interest rates and require repayment in a single lump sum payment on the borrower’s next payday. In Texas, payday loans are legal, but there are certain regulations in place to protect consumers.

How Do Payday Loans Work in Damon, Texas?

To obtain a payday loan in Damon, Texas, a borrower typically needs to provide proof of employment and income, as well as a post-dated check or authorization for electronic repayment from their bank account. The loan amount is typically based on the borrower’s income and must be repaid within a certain timeframe, usually within two weeks.

It’s important to note that Texas laws limit the amount a borrower can receive from a payday loan to 20% of their gross income, with a maximum loan amount of $1,800. Additionally, the amount of interest and fees charged cannot exceed 10% of the loan amount.

What Are the Benefits of Payday Loans in Damon, Texas?

  • Quick and easy access to funds when needed
  • No credit check required
  • Simple application process

What Are the Risks of Payday Loans in Damon, Texas?

While payday loans can be a convenient way to obtain quick cash, there are several risks associated with these types of loans:

  • High-interest rates and fees
  • Risk of falling into a cycle of debt
  • Potential to damage credit score

Therefore, borrowers should carefully consider their options and make sure to only take out a payday loan if they are confident they can repay it on time without falling into a cycle of debt.

Interesting Facts and Statistics about Payday Loans in Damon, Texas

  • In Texas, the average annual percentage rate (APR) for a payday loan is 410%. This is significantly higher than the national average of 391%.
  • According to the Consumer Financial Protection Bureau (CFPB), over 80% of payday loans are rolled over or renewed within two weeks.
  • Texans borrow more payday loans than any other state in the country.

Apply Now for a Payday Loan in Damon, Texas

If you find yourself in need of quick cash, TheGuaranteedLoans can help. Our online application process is simple and straightforward, and we’ll connect you with potential lenders who can provide the funds you need. It’s important to note that TheGuaranteedLoans is a connector service, not a direct lender, and we do not make credit decisions or provide loans directly.

However, we understand that time is of the essence when it comes to financial emergencies, and we strive to provide a quick and easy solution. Apply now and get the funds you need to cover unexpected expenses.

Conclusion

Payday loans can be a helpful solution in times of financial need, but they come with risks that should be carefully considered beforehand. In Damon, Texas, payday loans are legal, but the state has put regulations in place to protect consumers from predatory lending practices. As with any financial decision, borrowers should do their research, ensure they understand the terms and risks associated with a payday loan, and only borrow what they can afford to repay on time.

F.A.Q.

Are there any restrictions on how I can use the funds from a payday loan in Damon, Texas?

You are free to use the funds from a payday loan in Damon, Texas for any purpose, as long as it is legal. However, most payday loans are used to cover unexpected expenses or to bridge a financial gap until the borrower's next payday.

Are there any fees or charges associated with payday loans in Damon, Texas?

Yes, there are fees and charges associated with payday loans in Damon, Texas. These may include application fees, origination fees, interest charges, and late payment fees. It is important to carefully review the terms and conditions of your payday loan to understand all of the fees and charges you may be responsible for.