Learn the regulations in your city — and how much a loan could cost you.
When you’re looking to borrow from a lender in Laurel, it pays to know what you can be charged. Mississippi outlines a few regulations to help keep costs down, but you’ll still want to be sure you find the right lender — and type of short-term loan — before you commit.
Check into Cash Loans
Check into Cash allows you to directly apply for a payday loan and have your cash when you need it.
- Min. Loan Amount: $50
- Loan Term: Varies by state
- Turnaround Time: 1–2 business days
- Total Costs: Varies depending on the amount and your state of residency.
- Must be 18+
- No security needed
- Confidential and secure
Can I get a payday loan in Laurel, Mississippi?
Yes, payday loans — also known as cash advances — are available in Laurel through Mississippi Statutory Citation 75-67-501 et seq. These laws apply to lenders in Laurel that have physical storefronts and lenders outside of Laurel that operate online.
You can borrow up to $500. For loans less than $250, there is a financing fee of $20 per $100 borrowed. For loans between $250 and $500, there is a financing fee of $21.95 per $100. No matter how much you borrow, there is a term of 30 days.
In addition to payday loans, you can also find lenders that offer installment loans and auto title loans, though title loans are governed under the Title Pledge Act and fall under slightly different rules. But as with payday loans, these can both be costly options, so it pays to compare lenders carefully before you borrow.
Compare short-term loans in Laurel, MS
What do I need to apply?
In general, all lenders require you to meet the same basic requirements. You must have a regular source of income, be a citizen or permanent resident of the US and be at least 18 years old.
When you fill out the application, be prepared to submit some personal information like your Social Security number and gross monthly income. Lenders will also need to confirm your identity before they approve your loan, so follow the steps in the application and fill everything out as accurately as possible. If you pick one of the lenders in the table above, you can visit our review to see exactly what you’ll need to apply.
Where to find short-term loan locations in Laurel
Short-term loan locations near me in Laurel, MI
- Laurel Loans, Inc. 744 W 5th St, Laurel, MS 39440
- Money Market. 606 N Magnolia St, Laurel, MS 39440
- Payday Loan Store of Ms Laurel. S 16th Avenue
- PLS Loan Store. 127 S 16th Ave, Laurel, MS 39440
- Speedy Cash. 214 N 16th Ave, Laurel, MS 39440
Must read: Be cautious of high costs
Mississippi may set a cap on the total financing fees a lender can charge you, but borrowing a payday loan in Laurel still won’t be cheap. A loan of $500 will end up costing you $609.75 — and you’ll only have a maximum of 30 days to get that money together. This can make repaying a payday loan quite difficult and lead to default.
Before you commit to a lender, consider your payday loan alternatives to see all of your options.
What are my other short-term loan options in Laurel?
You aren’t just limited to payday loans. As stated above, there are lenders in Laurel that also offer installment loans and auto title loans.
- Installment loans. Installment loans allow you to borrow up to $4,000 — though the specific amount you qualify for depends on the lender and your finances. Lenders can charge an APR up to 59%, but unlike traditional personal loans, installment loans generally don’t require you to meet strict credit requirements.
- Auto title loans. In Mississippi, you can borrow up to $2,500 through an auto title loan. Lenders can’t charge more than 25% per month for your loan. This is the same as a 300% APR, which can be difficult to repay. And since you’re using your title as collateral, you risk having your car repossessed if you default.
Payday loans are often advertised as a quick way to come up with the money you need, especially if you’re facing a big bill or expense before you get paid, but Mississippi law doesn’t restrict lenders as fully as some states. While convenient, payday loans can still be costly. Because of this, it pays to compare your options before you borrow.