Payday Loans in Lyman, Washington

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

Company nameAddressZip codePhone number
Cash America Pawn 4006 Guide Meridian, Bellingham, WA 98226 +1 (360) 647 - 2171
BECU credit union 303 91st Ave NE C-301, Lake Stevens, WA 98258 +1 (800) 233 - 2328
Omni Military Loans 11013 Bridgeport Way SW, Lakewood, WA 98499 +1 (253) 588 - 6664
Micro Loans NW 2006 Fairview Ave N, Seattle, WA 98101 +1 (206) 903 - 1300
Cornerstone Home Mortgage 4520 Intelco Loop SE 1A, Lacey, WA 98503 +1 (360) 570 - 0106
Juniper Loan Servicing Corporation 165 NE Juniper St, Issaquah, WA 98027 +1 (425) 677 - 8361
Moneytree 1400 Madison St, Seattle, WA 98104 +1 (206) 861 - 1010
United States Postal Service 101 N 4th St, Coulee City, WA 99115 +1 (800) 275 - 8777
Sound Credit Union 3633 Pacific Ave, Tacoma, WA 98418 +1 (800) 562 - 8130
Granco Federal Credit Union 217 Alder St SW, Ephrata, WA 98823 +1 (509) 754 - 5233

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Lyman, WA, you can try to find different companies in big cities near by. Check out the following pages here: Guaranteed Loans in Auburn, WA, Quick Loan in Bellevue, WA, Quick Loan in Bellingham, WA, Guaranteed Loans in Bothell, WA, Same Day Loans in Bremerton, WA, Payday Loans in Edmonds, WA, Same Day Loans in Everett, WA and Bad Credit Loans in Federal Way, 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 Lyman, WA.

Beautiful sights of Lyman, WA

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

98263

Are Payday Loans Legal In Lyman, 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%

Lyman, WA payday loan calculator

Payday Loans in Lyman, Washington: What You Need to Know

When you need quick cash to cover unexpected expenses, payday loans can seem like an attractive option. However, it’s essential to understand the risks associated with these high-interest loans before applying, especially in Lyman, Washington.

How Payday Loans Work?

Payday loans are short-term, high-cost loans that typically must be repaid on your next payday. These loans are designed for individuals who need cash fast but cannot get credit through traditional means.

The application process typically involves providing proof of income, a government-issued ID, and a post-dated check or authorization for the lender to withdraw the loan amount plus fees from your bank account on the loan due date.

Payday Loans Regulations in Lyman, Washington

Payday loans are legal in Lyman, Washington, with some restrictions to protect consumers from predatory lending practices. Lenders must have a small loan license from the state Department of Financial Institutions and adhere to specific fee and interest rate limits.

The maximum amount you can borrow through a payday loan in Lyman is $700 or 30% of your gross monthly income, whichever is less. The maximum interest rate allowed is 15% on the first $500 and 10% on the amount above $500.

Risks of Payday Loans

Although payday loans provide quick cash for emergencies, they come with high fees and interest rates that can trap borrowers in a cycle of debt. If you cannot repay the loan on the due date, you may be charged additional fees or roll over the loan, resulting in even more interest charges.

According to a report by the Consumer Financial Protection Bureau, the average payday loan borrower takes out eight loans per year, with each loan lasting 18 days and paying $520 in interest and fees.

Alternatives to Payday Loans

If you need money fast but cannot get a traditional loan or credit card, there are options for emergency funds. Consider the following alternatives:

  • Personal loans from a bank or credit union
  • Installment loans
  • Credit counseling services
  • Advances from your employer
  • Borrowing from family or friends.

Interesting Facts about Payday Loans in Lyman, Washington

  • Lyman, Washington is a small town with a population of around 500 people and is located in Skagit County.
  • According to the Washington State Department of Financial Institutions, there were 1,214 payday loan lenders licensed in Washington in 2020.
  • The State of Washington passed a law in 2009 capping interest rates on payday loans at 36%, which has reduced the number of payday lenders operating in the state.

Apply Now

If you need a payday loan in Lyman, Washington, TheGuaranteedLoans can help you connect with potential lenders quickly and easily. Fill out our online application to get started. Remember, we are not a direct lender, but a connector service that can help you find the best lender for your needs.

Thanks for reading, and we hope this information helps you make an informed decision about payday loans in Lyman, Washington. Remember to consider all options and only borrow what you can afford to repay.

F.A.Q.

Are there any restrictions on the fees that payday lenders can charge in Lyman, Washington?

Yes, payday lenders in Lyman, Washington are not allowed to charge more than $15 for every $100 borrowed. Additionally, they are not allowed to charge fees for issuing or cashing a check.

Can I apply for a payday loan in Lyman, Washington if I am currently in bankruptcy?

No, individuals who are currently in bankruptcy are not eligible for payday loans in Lyman, Washington. This is because payday loans are considered high-risk loans and are not suitable for individuals with severe financial difficulties.