Here’s what you should know before applying for a payday loan in Helena.
When you’re strapped for cash and need a little bit extra to get you to your next payday, a short-term loan could get you the cash you need. If you’re a resident of Helena, there are plenty of options available to you. Read up on Montana law to make sure you’re getting the best deal for your time.
What should I know before I apply for a short-term loan in Helena, Montana?
Payday loans in Helena are legal under Montana Code Annotated 31-1-701 et seq. and are restricted to keep consumers protected. The annual percentage rate (APR) is capped at 36% for all loans issued, and you can borrow up to $300 or 25% of your gross monthly income for terms of 31 days or less.
All lenders are required to be licensed before issuing loans, whether they operate in the state or online.
A selection of online short-term loans you can apply for
Check the websites of any providers you’re interested in to confirm they operate in Montana.
Why borrow a payday loan in Helena?
- Get cash quickly. If you apply online, you can have your loan deposited into your bank account as soon as the next business day. If you decide to visit a storefront, you may be able to get your loan before you leave.
- Low maximum amount. You can borrow anywhere from $50 to $300 in Montana. Although this may not seem like a lot, the small amount can help you avoid high fees and other charges for potential late payments.
- Easy application process. Most applications only take a few minutes if you have all the personal information and documents ready to go.
Abe needed money for a large dentist bill
Abe needed immediate dental treatment, but it wasn’t covered by his insurance. With very little to spare in his savings and a bad credit history, Abe wasn’t able to pay for his bill through traditional methods. A coworker suggested he look into a payday loan since Montana law keeps the interest rate low.
He visited a short-term loan store near his work and applied for a loan of $300. The loan contract specified he would have to repay this money within 31 days and would be charged the maximum APR of 36%. This meant Abe would have to pay $9 in interest on his loan.
Abe left a check for $309 with his lender, which was cashed on the due date. He was able to pay for his surgery without going deep into debt or depleting his savings.
How do I get a payday loan in Helena?
Before applying, make sure that you meet these eligibility criteria:
- You’re at least 18 years old
- You’re a US citizen or permanent resident
- You have a steady source of income
You’ll also need to give the lender some personal information in order to confirm your identity and have the loan issued if you’re approved. This includes your name, Social Security number, gross monthly income and employment information. If you’re aplying online, the lender will likely require you to give access to your bank account.
Payday loans in Helena
Payday lending stores in Helena
- Big Sky Financial of Helena, Inc. 1111 North Rodney #2, Helena, MT 59601
- Express Loans of America. Caboose Way, Helena, MT 59601
- Montana Community Finance Corporation. 825 Great Northern Blvd Suite 301, Helena, MT 59601
- Montana Livestock AG Credit. 420 N California St # 2, Helena, MT 59601
- Payday Loans Helena. 996 N Ewing St, Helena, MT 59601
- Quik Check. 1101 E Lyndale Ave, Helena, MT 59601