Best Payday Loans in Missouri - Apply Online Now to Borrow Money Online with Money Zap!

A typical payday loan is a short-term loan that can cover financial gaps or pay for unexpected expenses. These loans are often called cash advances, salary advances, or check loans, and they're typically repaid within two to four weeks. Payday advances of this type have become popular among consumers due to the flexibility of accessing money without proving creditworthiness.

Missouri statutes do not prohibit payday loans, so residents of Missouri may take out deferred deposit loans for any financial needs. Payday advances are designed to provide consumers with short-term financial solutions, not long-term debt or credit repair. Moreover, they cannot exceed $500, making them suitable for minor cash emergencies only.

Customer eligibility varies from one lender to another. Still, the most common qualifications require borrowers to be at least 18 years old and provide a bank account where lenders can deposit the funds after you've been approved. In addition, lenders may ask for documents, such as pay stubs and tax returns, so make sure these are ready before applying for a loan online. Lastly, another requirement is to provide an address in Missouri, as this is how lenders verify where you live and what laws apply to you.

Missouri residents can borrow the maximum loan amount of $500 for payday loans. A minimum amount is not specified in the state's laws, but most lending parties give out $50 or $100 loans.

Missouri short-term loans don't have a set interest rate by state law. Nonetheless, direct lenders are prohibited from charging a fee of more than 75% of the initial loan amount. So, for example, if you take out a payday advance for $100 with the highest interest rate of 75%, it will incur a total cost of $75. In this case, you’ll borrow $100 and pay back $175. These are considered high interest loans because, on average, the APR (annual percentage rate) on online payday loans in Missouri is about 540%.

Small-term advances have a repayment loan term between 14 and 31 days in Missouri, depending on consumers’ actual loan amounts and the terms agreed upon. The interest rates for this type of cash advance will vary from one lender to another, but most charge between 440% and 540%.

Only one loan transaction is allowed per borrower at a time. This means you cannot have three pending loans from three different payday lenders.

Yes, Missouri allows renewals (rollovers) for payday advances to its residents. When a consumer renews the initial loan, it has to be for 5% less of the initial principal balance. No more than six renewals are allowed for Missouri payday advances.

Most lenders today do not check the consumer's credit score or history. In the state of Missouri, the average FICO score tends to be 707 as of 2020; however, if you have a low FICO score, it might be harder for you to find a lender that approves payday loans with no credit check. Fortunately, MoneyZap works with all types of lenders, including services offered to consumers with low credit scores.

Yes, many lending companies in our network allow customers to apply for a personal loan with no credit check. Usually, they run a soft credit check to verify the consumer's debt standing, which has no impact on your FICO score nor does it show on your credit report. Note that consumers with no credit check should have proof of steady income to be considered for a cash advance.

It's possible to apply for a cash advance with bad credit, but you must show proof of income to qualify. This can include pay stubs, self-employed tax returns, or any other document showing steady income. Many payday loan companies in MoneyZap’s network work with consumers with credit difficulties.

No, MoneyZap’s services are 100% free. We do not charge consumers any fees to apply for Missouri deferral deposit loans through our platform. MoneyZap simply connects you to a loan company that best matches your financial situation.

Yes, it's possible to sign up for a cash advance in Missouri if you have had one before. Most of our lenders do not look at how many cash advances you have applied for in the past—all that matters is whether or not you can get approved for another loan from your lender or not.

We can't guarantee that you will receive a payday loan approval as we are not direct lenders. Instead, we do our best to find loan providers who are most likely to approve your application based on the information you provided us with and your financial situation. All of our lenders provide fast and efficient financial solutions with the best rates and reasonable repayment terms.

We understand that everyone's needs are different, so we work with companies that understand this and offer a variety of options. As such, we make your application process as swift and easy as possible, helping applicants obtain their cash advance faster than ever before!