Arkansas Pay Day Loans
Arkansas is one of the stricter states in the US when it comes to payday loans. The maximum amount you can borrow is just $400 and you will have between 6 and 31 days to repay the loan plus any additional charges. The maximum finance rate you’ll pay is 10% of the total amount plus $10. The finance charge for $100 loan over 14 days ends up being $22.22 and the APR on that comes to 579%.
Due to Arkansas regulations, the only type of payday loans you can get are “check holding” loans where you post-date a check that will deposited on the date you specify.
Arkansas Pay Day Loan Laws
Maximum Loan Amount: $400
Maximum Finance Rate: 10% of the total check amount plus $10
Annual Percentage Rate For 14 Day $100 Loan: 579%
Minimum Payoff Time: 6-31 days
Extensions Allowed: 0
Top 5 Arkansas Payday Loan Companies
Ace Cash Express
310 South Broadway Street
Little Rock, AR
Ace Cash Express operates in over a dozen states across the US with four physical locations in Arkansas. You can get your typical payday loans from Ace, get prepaid debit cards and cash all types of checks from their physical offices. In addition to these services, you can get your taxes prepared and even sell old gold coins and jewelry.
Fast Cash Loans Little Rock
1560 Broadway St. #101
Little Rock, AR
Fast Cash Loans Little Rock is a locally owned and operated company based in Little Rock Arkansas. This company can help you get cash between paydays that you can for any number reason. In these tough economic times it can be beneficial to have an additional resources on hand to take care of emergency medical bills, car repairs, utility bills or any other situation that requires a little extra money. As of October 2011 this company doesn’t have a functional website so you will have to call them or visit their office in person.
3638 Midland Boulevard
Fort Smith, AR
Mr. Payroll is part of the Cash America network of pawn shops and payday loans stores located throughout the United States. This company offers loans on merchandise, cash advances and auto equity loans which are commonly called title loans. A cash advance is the most common type of loan and is highly regulated by the state of Arkansas.Title loans may offer you more cash at a single time while you leave your car title up or collateral.
Cash Advance Planet
Cash Advance Planet isn’t so much a payday loan lender as a source to connect you with payday loan companies in your area. This website provides some statistical data about payday loan lenders and laws in the state of Arkansas and helps you find convenient lenders in your area or online. Companies like this often offer debt consolidation information and tips for how to budget paychecks in addition to listing payday loan companies.
Arkansas Cash Advance
Arkansas Cash Advance is part of the state-wide “Cash Advance” website network that has a different website for each state. This makes it easier to view the individual laws and regulations for each state. You can apply online and receive the money you need within 24 hours after you are matched with a local lender in your area. This company is very prolific on the internet and has good third party reviews.