Payday Loans in Locust Dale, Virginia

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

Company nameAddressZip codePhone number
Carter Bank & Trust 9440 Franklin St, Ferrum, VA 24088 +1 (540) 365 - 2020
BB&T 100 Hillsboro Dr, North Tazewell, VA 24630 +1 (276) 988 - 7511
Bank of Botetourt 65 E Midland Trail, Lexington, VA 24450 +1 (540) 463 - 7224
Bank of America Financial Center 2936 Chain Bridge Rd, Oakton, VA 22124 +1 (703) 319 - 2680
Presidential Bank 1675-N, Reston Pkwy, Reston, VA 20194 +1 (703) 435 - 0505
Fast Auto Loans, Inc. 2650 Valley Ave, Winchester, VA 22601 +1 (540) 542 - 0580
Atlantic Union Bank 2600 Stuarts Draft Hwy, Stuarts Draft, VA 24477 +1 (540) 337 - 1563
BB&T 621 Wood Ave E, Big Stone Gap, VA 24219 +1 (276) 523 - 2311
Advance America 705 E Atlantic St, South Hill, VA 23970 +1 (434) 447 - 4532
Bank of Clarke County 203 E Hirst Rd, Purcellville, VA 20132 +1 (800) 650 - 8723

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Locust Dale, VA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Springfield, VA, Payday Loans in Sterling, VA, Payday Loan for Suffolk, VA, Payday Loan Without a Credit Check in Virginia Beach, VA, Payday Loans in Alexandria, VA, Payday Loans in Annandale, VA, No Credit Check Loans in Arlington, VA and Payday Loan Without a Credit Check in Ashburn, 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 Locust Dale, VA.

Beautiful sights of Locust Dale, VA

Are Payday Loans Legal In Locust Dale, 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

Locust Dale, VA payday loan calculator

Payday Loans in Locust Dale, Virginia

When faced with financial emergencies, people can find themselves in situations where they need urgent cash. Payday loans are the go-to financial solution for many. They are short-term loans that are usually due on the borrower’s next payday.

Payday loans are legal in Virginia, and Locust Dale residents can access them whenever they need urgent financial assistance. This article provides a guide on how payday loans work and what residents of Locust Dale, Virginia, need to know before applying for one.

How Payday Loans Work

Payday loans are a type of borrowing that involves borrowing a small amount of money at a high-interest rate. They are usually due in full on the borrower’s next payday or within 14 days.

In Virginia, payday lenders can lend up to $500 to borrowers. However, lenders can charge finance fees up to 36% of the loan amount, plus a verification fee of $5.

To apply for a payday loan, a borrower must provide proof of income, a valid ID, and a checking account. Once the loan application is approved, the borrower receives the funds, and the loan is due on the next payday.

Pros and Cons of Payday Loans

Payday loans have their advantages and disadvantages. Here are some of the pros:

Instant cash: Payday loans offer quick access to cash, making them convenient for emergency situations.

Easy to qualify: Payday loan lenders have minimal requirements, and borrowers can have bad credit and still qualify.

No collateral: Payday loans are unsecured, meaning they do not require the borrower to use collateral to secure the loan.

Despite these benefits, there are also some disadvantages. Here are some cons of payday loans:

High-interest rates: Payday loans have high-interest rates, making them expensive compared to other types of loans.

Short repayment period: Payday loans have a short repayment period, usually two weeks or less. This short period can make it difficult for borrowers to repay the loan on time, leading to more fees and interest charges.

Debt cycle: When borrowers cannot repay the loan on time, they may roll over the loan by paying a fee, leading to a cycle of debt that can be difficult to break.

Before taking out a payday loan, residents of Locust Dale, Virginia should weigh the pros and cons and ensure they can afford to repay the loan on time.

Facts and Statistics

Did you know that in Virginia, payday lenders can charge up to 36% interest on loans? As of 2021, about 2.5 million Americans use payday loans every year, with $9 billion in interest and fees. In Virginia, the average payday loan is $392, with an average APR of 251%.

Apply Now

If you need a payday loan in Locust Dale, Virginia, TheGuaranteedLoans can help connect you with lenders who can offer you the funds you need. We are a connector service, not a direct lender, and our aim is to make borrowing easy and accessible for everyone.

To apply for a payday loan, simply fill out our online application form, and we will connect you to loan providers who can meet your needs. Our process is easy and fast, and you do not have to leave your home or office to apply.

Conclusion

Payday loans are a quick and easy way to access cash when you need it most. If you are a resident of Locust Dale, Virginia, and need urgent financial assistance, payday loans can be an option worth considering.

However, before applying for a payday loan, be sure to understand the terms and conditions, including the high-interest rates and short repayment period. It’s vital to read the fine print and make sure you can repay the loan on time to avoid additional fees and charges.

Remember, TheGuaranteedLoans can connect you with payday loan lenders in Locust Dale, Virginia, who can meet your needs. Apply now on our website and get the financial assistance you need.

F.A.Q.

What information do I need to provide to get a payday loan in Locust Dale, Virginia?

To get a payday loan in Locust Dale, Virginia, you will need to provide proof of your income, proof of your identity and address, and a blank check or pre-authorized debit form for the lender to withdraw repayment from your bank account. You may also be required to provide additional information or documents depending on the lender's policies.

Is there a cooling-off period between payday loans in Locust Dale, Virginia?

Yes, Virginia law requires a minimum cooling-off period of 24 hours between payday loans. This means that if you have repaid a payday loan, you must wait at least 24 hours before taking out another loan with the same lender.