Here’s the information you need to know if you want to get a short-term loan in Wichita, Kansas.
If you need a little extra money to get back on your feet, you’ll want to understand how short-term lending works. The guide below will help cut through the jargon and tell you what you need to know about borrowing in Wichita.
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
How do Kansas laws impact short-term loans in Wichita?
Kansas Revised Statutes 16a-2-404 and 16a-2-405 cover what is and isn’t legal when it comes to short-term loans. These laws apply to lenders all over Kansas and online, so if you’re a resident of Wichita, you’ll need to be sure your lender is abiding by them.
$500 is the maximum amount you can borrow in Wichita. Loan terms last 7 to 30 days, and you’ll have to pay a financing fee of 15%.
How much will a short-term loan cost?How much a loan costs depends on the terms your lender presents you and how much you want to borrow. For instance, if you choose to borrow $100, you may have to pay up to $15 on your due date.
If you borrow the maximum amount of $500, you’ll pay up to $75 on the due date. This doesn’t include any other fees your lender might charge, but it should give you a good idea of how much you’ll end up paying for a short-term loan.
Consider these lenders for a short-term loan in Wichita
Why a short-term loan in Wichita might work for you
- Apply with bad credit . Short-term lenders will accept low credit scores. They care more about your financial situation and ability to repay than past problems with credit.
- Easy applications. With application times of just 5 to 10 minutes, you can get a decision almost instantly when you apply online.
- Receive your loan quickly. When you apply in-store, you’ll likely be able to walk out with your loan. When you apply online, you’ll be able to have your loan deposited directly into your bank account as soon as the next business day.
Elliot needed money for house repairs
Elliott’s house was damaged in a storm. Although his home owner’s insurance would cover much of the cost, the house needed repairs before the check arrived. Both Elliot and his partner had low credit scores due to past mistakes. They didn’t have enough savings, and Elliot felt their best option would be to take out a short-term loan.
He applied in store for a loan of $500 at a local store and received the money on the same day. Elliott’s next paycheck was three weeks out, so that’s when his loan payment was due. At the time of signing, the lender made it clear that there would be a $75 fee for the advance.
They were able to afford the house repairs and, with proper budgeting, the payment for their loan after the insurance check arrived.
Need to apply for a short-term loan in Wichita?
Before you do, you’ll need to be at least 18 years old, a citizen or permanent resident of the US and have a steady source of income.
You’ll need to provide the lender with some basic personal information to your lender. This includes
- Your name, address, email and phone number
- Your date of birth, Social Security number and details from your state-issued ID
- Your Employer’s name, address and phone number
- Your gross monthly income
- Your bank account details if applying online
Where to get a short-term loan in Wichita
Short-term loan offices near you in Wichita
If you’d like to visit a physical store to apply for a short-term loan in Wichita, here are some of your options:
- Fast Payday Loans. 2560 S Seneca St, Wichita, KS 67217
- Money Shack Payday Loans. 5530 W Central Ave, Wichita, KS 67212
- Net Pay Advance, Inc. 455 N Maize Ct, Wichita, KS 67212
- Payday Money Store. 530 S West St #100, Wichita, KS 67213
- Quik Cash. 447 N Oliver Ave, Wichita, KS 67208