Payday Loans have become an essential part of financial survival for many residents of the state of Utah. According to a Utah governmental audit, each year approximately 60,000 to 120,000 adult Utah residents use a payday loan each year. There are many payday loans companies in Utah which can provide these short-term loan options for those with urgent financial needs.
What is a Payday Loan?
A Payday loan refers to a short-term loan (also known as a deferred deposit loan) from a lender for immediate or emergency expenses such as car repairs, rent or utility bills. With a payday loan, the lender holds a personal check for the amount borrowed plus interest as collateral. The check is then deposited into the borrower’s checking account in full payment of the loan on the borrower’s next payday.
What is Required for a Payday Loan in Utah?
To qualify for a Payday Loan from payday loans companies Utah, a potential Payday Loan borrower must have been employed for at least one month. Another requirement is that a Payday Loan applicant has an active and open checking account. Also required by most payday loans companies Utah is an active phone number and proof of income. A valid utility bill with your name and address, a valid form of identification and 3 or 4 personal references are also normally required.
How Much Can I Borrow and How Much Does a Loan Cost From Payday Loans Companies in Utah?
Payday loans from payday loans companies in Utah can usually range anywhere from $100 to $500. The annual interest rate for a Payday Loan in Utah is 521.43% or an interest rate of $20 every 2 weeks to borrow $100.
How Do I Apply for a Payday Loan?
A Payday Loan in Utah can be applied for using a simple and convenient online form. Applications can also be completed at local offices of payday loans companies in Utah.
Call Today to Apply for a Payday Loan in Utah
Money4You Payday Loans has served the short-term financial needs of Utah for over 20 years. Our quick application process is 100% safe and secure, and your first loan is interest-free! Call us today at 855-MY-MrMoney to apply for a Payday Loan.
About the Author:
Mike is the owner of Money 4 You Payday Loans in Utah. He has been serving the community for over 20 years and has kept that small-town, friendly business feels from the start. Money 4 You Payday Loans has 21 locations across Utah to serve you.
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