Payday Loans in Cleveland, Virginia

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No payday loan companies in Cleveland, VA. Consider companies in other cities:

Company nameAddressZip codePhone number
Professional Financial Services 4445 Corporation Ln 110, Virginia Beach, VA 23462 +1 (757) 490 - 1005
Atlantic Union Bank 125 W Main St, Bedford, VA 24523 +1 (540) 586 - 2590
MoneyGram 555 Old Franklin Turnpike, Rocky Mount, VA 24151 +1 (540) 482 - 0215
Farm Credit of the Virginias 13284 James Madison Hwy, Orange, VA 22960 +1 (540) 672 - 3644
Fast Auto Loans, Inc. 605 Old Piney Forest Rd #A, Danville, VA 24540 +1 (434) 797 - 3782
Bank of America Financial Center 45985 Regal Plaza, Sterling, VA 20165 +1 (703) 421 - 7533
ZOOMCASH - CONSUMER LOANS 1131 Rio Rd E, Charlottesville, VA 22901 +1 (434) 270 - 8915
Farm Credit of the Virginias 4646 S Valley Pike, Harrisonburg, VA 22801 +1 (540) 434 - 5385
TitleMax Title Loans 8409 Centreville Rd, Manassas, VA 20111 +1 (703) 334 - 2014
TitleMax Title Loans 3314 Jefferson Davis Hwy, Alexandria, VA 22305 +1 (703) 548 - 1245

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Cleveland, VA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Suffolk, VA, Payday Loans in Virginia Beach, VA, Same Day Loans in Alexandria, VA, Payday Loans in Annandale, VA, Bad Credit Loans in Arlington, VA, Payday Loan Without a Credit Check in Ashburn, VA, Payday Loan Companies in Blacksburg, VA and Payday Loan Without a Credit Check in Burke, VA. 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 Cleveland, VA.

Beautiful sights of Cleveland, VA

Payday Loans Available in Cleveland, VA By The Following ZIP Codes:

24225

Are Payday Loans Legal In Cleveland, Virginia?

Loan Rates and Fees, Laws and Regulations in Virginia.

Virginia Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)36% APR (in reality can reach 601%*)
Maximum Loan Amount$500
Minimum Loan TermNot Specified
Maximum Loan Term30 days
Number of Rollovers Allowed0
Finance Charges36% APR

Cleveland, VA payday loan calculator

Understanding Payday Loans in Cleveland, Virginia

Payday loans have become a popular option for many people who need quick cash to cover unexpected expenses or make ends meet. In Cleveland, Virginia, payday loans are legal, which means you can easily find lenders willing to grant you cash loans on short notice.

What are Payday Loans?

Payday loans are short-term loans that come with high-interest rates. They are designed to be repaid on your next payday, which is usually within two to four weeks. These loans are typically small, ranging from a few hundred dollars to a couple of thousand dollars. They are relatively easy to obtain and do not require collateral or a credit check.

How Do Payday Loans Work?

The process of getting a payday loan is quite simple. You submit an application to a lender, providing proof of income, a valid ID, and your bank account information. The lender will review your application and decide whether to approve it or not.

Once your application is approved, you will receive the funds in your bank account, usually within a day or two. You are required to repay the loan on your next payday, which may require the lender to withdraw the amount from your bank account, along with the interest and fees.

Pros of Using Payday Loans

  • Quick access to cash when you need it most.
  • No credit checks, which means people with poor credit scores can also qualify.
  • No collateral required.
  • They can help you avoid late fees, overdraft fees, or bounced check fees.

Cons of Using Payday Loans

  • High interest rates, which can make the loan more expensive than alternative options.
  • Short-term repayment period, which can make it difficult to pay the full amount on time without affecting your financial standing.
  • Risk of getting trapped in a cycle of debt.
  • Lenders can be predatory, charging exorbitant fees and interest rates.

Interesting Facts and Statistics about Payday Loans in Cleveland, Virginia

  • In Virginia, the interest rates on payday loans can be as high as 600% APR, making them one of the most expensive forms of credit available to consumers.
  • According to a report by the State Corporation Commission, 86,963 borrowers took out a payday loan in Virginia in 2019, with the average loan amount being $370.22.
  • The same report showed that 73.2% of payday borrowers took out more than one loan in a year, with an average of 8.3 loans per borrower.
  • In Virginia, payday lenders are required to be licensed by the State Corporation Commission and must follow certain rules and regulations to protect consumers.

‘Apply Now’ Section

Do you need a payday loan in Cleveland, Virginia? Look no further than TheGuaranteedLoans!

At TheGuaranteedLoans, we offer a hassle-free, online application process that connects you with trusted lenders. Our service is free, and you can complete the application form in just a few minutes. All you need is a steady income, a valid ID, and a bank account.

Remember, we are not a direct lender. We are a connector service that helps you find lenders who can meet your specific needs. Apply for your payday loan now with TheGuaranteedLoans!

Conclusion

Payday loans in Cleveland, Virginia can seem like a quick solution to your financial problems. However, it is essential to understand the risks and weigh your options before taking out a loan. If you decide to go for a payday loan, make sure you borrow from reputable lenders and only borrow what you can afford to repay.

F.A.Q.

Are payday loans legal in Cleveland, Virginia?

Yes, payday loans are legal in Cleveland, Virginia under the Virginia Consumer Finance Act.

What are the maximum loan amounts and fees allowed for payday loans in Cleveland, Virginia?

The maximum loan amount for a payday loan in Cleveland, Virginia is $500, and the maximum fee is 20% of the loan amount.