Payday Loans in Beverly, Washington

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No payday loan companies in Beverly, WA. Consider companies in other cities:

Company nameAddressZip codePhone number
Evergreen Home Loans Ellensburg NMLS 1391360 2411 W Dolarway Rd Suite 2, Ellensburg, WA 98926 +1 (509) 925 - 5800
Banner Bank 5 Cheney Spokane Rd, Cheney, WA 99004 +1 (509) 892 - 4400
Opus Bank 815 State Ave, Marysville, WA 98270 +1 (360) 659 - 7614
Us Bancorp 404 N Burlington Blvd, Burlington, WA 98233 +1 (360) 755 - 0575
Evergreen Home Loans Belfair NMLS 1187887 23552 WA-3 Suite 1B, Belfair, WA 98528 +1 (360) 930 - 3375
Cash America Pawn 1905 Broadway, Everett, WA 98201 +1 (425) 259 - 6600
Rairdon's Chrysler Dodge Jeep Ram of Marysville 16610 Smokey Point Blvd, Arlington, WA 98223 +1 (360) 653 - 5664
Cash America Pawn 7016 Bothell Way NE, Kenmore, WA 98028 +1 (425) 205 - 2200
Walmart Money Center 1700 Se Meadowbrook Blvd, College Place, WA 99324 +1 (509) 525 - 3468
Checkmate 719 Sleater Kinney Rd SE #161, Lacey, WA 98503 +1 (360) 413 - 9819

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Beverly, WA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Vancouver, WA, Payday Loans in Walla Walla, WA, Online Loans in Wenatchee, WA, Bad Credit Loans in Yakima, WA, Payday Loans in Auburn, WA, Payday Loan for Bellevue, WA, No Credit Check Loans in Bellingham, WA and Payday Loans in Bothell, WA. 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 Beverly, WA.

Beautiful sights of Beverly, WA

Payday Loans Available in Beverly, WA By The Following ZIP Codes:

99321

Are Payday Loans Legal In Beverly, Washington?

Loan Rates and Fees, Laws and Regulations in Washington.

Washington Loan Regulations

Legal StatusLegal (Lender must have a small loan endorsement to their check casher license in order to make payday loans)
Interest Rate (APR, %)391
Maximum Loan Amount$700 (*or 30% of gross monthly income)
Minimum Loan TermNot Specified
Maximum Loan Term45 days
Number of Rollovers Allowed0
Finance Charges<$500 = 15%; >$500 = 10%

Beverly, WA payday loan calculator

When expenses pile up unexpectedly and money is tight, many people turn to payday loans as a last resort. In Beverly, Washington, payday loans are legal as long as the lender has a small loan license, and they can be a helpful option for those in need of fast cash. However, it is important to understand the risks associated with payday loans before diving in.

What is a Payday Loan?

A payday loan is a short-term loan that typically ranges from $50 to $1,000 and is intended to be repaid on your next payday. These loans are also known as cash advances, paycheck advances, or payday advances. The borrower writes a post-dated check to the lender, including the loan amount plus fees, and in return, the lender gives the borrower cash.

How Do Payday Loans Work?

The process of obtaining a payday loan is relatively simple. First, you must provide proof of income, such as a recent paycheck stub, and a valid form of identification. You also need to provide a post-dated check or an agreement to electronically withdraw funds from your bank account on your next payday.

Once you’re approved, the lender will give you the cash you need, typically within a few hours. Then, on your next payday, the lender will cash your post-dated check or withdraw the funds electronically from your bank account, including the loan amount and any fees.

What Are the Fees for a Payday Loan?

The fees for payday loans in Beverly, Washington, are regulated by state law. Lenders can charge no more than 15% of the loan amount for the first $500 borrowed, and 10% for any amount over $500. For example, if you borrow $400, your lender can charge a maximum fee of $60, and if you borrow $1,000, the maximum fee is $140.

It’s important to note that these fees are in addition to the loan amount, which must also be repaid. As a result, payday loans can be quite expensive, especially if you’re unable to repay the loan on time. If you cannot repay the loan on time, the lender may charge additional fees or interest, which can quickly spiral out of control.

The Risks of Payday Loans

While payday loans can be a helpful way to obtain fast cash in an emergency, they come with significant risks that should not be overlooked.

High Fees and Interest Rates

As mentioned earlier, payday loans can be quite expensive due to their high fees and interest rates. If you’re unable to repay the loan on time, the costs can quickly add up, making it even harder to get back on track financially.

Debt Cycle

Another risk associated with payday loans is the debt cycle they can create. If you’re unable to repay the loan on time, you may be forced to take out another loan to cover the costs, resulting in a cycle of debt that can be difficult to break.

Potential for Fraud and Scams

Finally, payday loans can be a target for fraud and scams. Some lenders may engage in deceptive or unlawful practices, such as charging excessive fees or interest rates, misrepresenting the loan terms, or using aggressive collection practices.

Interesting Facts and Statistics about Payday Loans in Beverly, Washington

  • In Washington, borrowers are limited to eight payday loans per year, and lenders are prohibited from making more than one loan to a borrower at a time.
  • The average payday loan in Washington is $358, with an average annual interest rate of 391%.
  • In Beverly, Washington, there are currently three licensed payday lenders operating in the area.

Apply Now and Connect with a Lender

If you’re in need of fast cash, TheGuaranteedLoans can help connect you with potential lenders in Beverly, Washington, and across the country. We are a connector service, not a direct lender, which means we work with a network of trusted lenders to help you find the right loan for your needs.

Our online application process is quick and easy, and you may be able to receive a loan decision in minutes. Simply fill out our online application and provide some basic information about your income and employment history. If you’re approved, you’ll be connected with a lender who can provide you with the cash you need.

Remember, payday loans can be a helpful way to obtain fast cash in an emergency, but they come with significant risks that should not be overlooked. Be sure to read the loan terms carefully, understand the fees and interest rates, and only take out a payday loan if you’re confident you can repay it on time.

F.A.Q.

Can a payday lender in Beverly, Washington garnish my wages if I don't repay my loan?

No, payday lenders are not allowed to garnish wages in Beverly, Washington. However, they may take legal action to collect on the loan.

Are there any alternatives to payday loans in Beverly, Washington?

Yes, there are several alternatives to payday loans in Beverly, Washington, such as credit union loans, community development financial institution loans, and small business loans.