Missouri Payday Loans
Payday loans can help you quickly get money to cover an emergency expense or late bill. If you live in Missouri and are considering borrowing a payday loan, we will help you learn the ins and outs of the laws lenders must abide by.
Payday Loans in Missouri (MO)
The popularity of payday loans is at its peak today. Despite all the positive and negative opinions, payday loans are still a convenient solution for budget management.
Payday loans are governed by Missouri Revised Statutes §§ 408.500.1 et seq. All lenders must be licensed by the Missouri Division of Finance, and the law requires Missouri payday loan providers to provide borrowers with all the relevant information prior to disbursing the loan.
How much can I borrow?
Payday loans are legal in Missouri. Per state laws 408.500 to 408.506, lenders can loan up to $500 for a minimum of 14 days and a maximum of 31 days. No borrower shall be required to pay a total amount of interest and fees in excess of 75% of the initial loan amount on any single loan.
- Maximum loan amount: $500
- Maximum loan term: 31 days
- Minimum loan term: 14 days
- APR: The APR on a 14-day $100 is 1950%
You have the right to cancel your loan before the end of the following business day.
Why you might need a Payday Loan
There is an endless number of reasons why you may need extra cash. But if you found yourself in one of these situations, LoanPigUSA is at your service.
- You struggle to cover your utilities, rent, bills, and groceries. In fact, this is probably the main reason why you may need a quick loan.
- You don’t want to borrow from your relatives and friends. You might not want to ask your family for financial aid.
- In need of quick cash. This is a common reason if you are experiencing any unexpected bills that you need to repay.
Applying for Missouri Payday Loans
With LoanPigUSA, it’s simple to apply for a quick loan in Missouri, but you need to be aware of certain conditions required for this procedure.
- You must be at least 18 years old or over.
- You need to be a legal resident of Missouri.
- Need a stable source of income and be in employment.
All we need from you is a couple of personal details, such as your social security number, your name, and your address, while you need to indicate how much you wish to borrow. After you provide us with the required details, we will contact you once we approve the information to confirm all the terms and conditions of the contract.