Compare your loan options in Missouri

Payday loans can help you quickly get money to cover an emergency expense or late bill. If you live in Missouri and are considering borrowing a payday loan, this guide will help you learn the ins and outs of the laws lenders must abide by.

Our top pick: Zaplo Installment Loan

• Min. Loan Amount: $500
• Max. Loan Amount: $1,200
• Turnaround Time: As soon as the next business day
• Loan Term: Up to 1 year
• Requirements: Regular source of income received biweekly or semi-monthly, Missouri or Utah resident, checking account with automatic deposits, not a military service member

• Transparent pricing
• Option to qualify for more funds
• Applying doesn’t affect your credit

Our top pick: Zaplo Installment Loan

Borrow up to $1,200 — but only if you live in Missouri or Utah.

• Min. Loan Amount: $500
• Max. Loan Amount: $1,200
• Turnaround Time: As soon as the next business day
• Loan Term: Up to 1 year
• Requirements: Regular source of income received biweekly or semi-monthly, Missouri or Utah resident, checking account with automatic deposits, not a military service member

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How to payday loans in Missouri work?

Payday loans are governed by Missouri Revised Statutes §§ 408.500.1 et seq. All lenders must be licensed by the Missouri Division of Finance, and the law requires Missouri payday loan providers to provide borrowers with all the relevant information prior to disbursing the loan.

• Maximum loan amount: $500
• Maximum loan term: 31 days
• Minimum loan term: 14 days
• APR: The APR on a 14-day $100 is 1950%

You have the right to cancel your loan before the end of the following business day.

Compare a selection of short-term loans in Missouri

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Name	Product	Filter Values	Max. Loan Amount	Turnaround time	Requirements
OppLoans Installment Loans			$5,000	1 business day	Direct deposit, meet minimum income requirements	Comes with the option to change your due date so you won’t fall behind on repayments.	Go to site More Info		loading Fetching your data...
Check Into Cash Installment Loans			$3,000	1 to 2 business days	Bank account, email address, phone number, US citizen or permanent resident, ages 21+, $3,500 minimum income in California	Borrow money with lower payments and more time to pay than a traditional payday loan.	Go to site More Info		loading Fetching your data...
Fast5kLoans Short-term Loans Connection Service			$35,000	As soon as the next business day	Regular source of income, verifiable bank account, US citizen, ages 18+	Get connected with multiple lenders you might qualify with — even if you have bad credit.	Go to site More Info		loading Fetching your data...
CashNetUSA Loan			Varies by state	As fast as same business day	Regular source of income, bank account, US citizen or permanent resident, age of majority in your state	Sign up for its discount program to get access to coupons and deals on everything from dining out to tax services.	Go to site More Info		loading Fetching your data...
CashUSA Installment Loans			$10,000	As fast as same business day	Regular source of income, bank account, US citizen or permanent resident, age of majority in your state	Explore its online education center to get tips on budgeting, how to prioritize your bills and more.	Go to site More Info		loading Fetching your data...
Zaplo Installment Loan			$1,200	As soon as the next business day	Regular source of income received biweekly or semi-monthly, Missouri or Utah resident, checking account with automatic deposits, not a military service member	Borrow up to $1,200 — but only if you live in Missouri or Utah.	Go to site More Info		loading Fetching your data...
Jora Installment Loans			$2,600	1 to 2 business days	Active checking account, regular source of income, email address	Get access to tools to help you plan a career move, make some extra cash or search for a better-paying job.	Go to site More Info		loading Fetching your data...
HonestLoans Installment Loans			$50,000	Same business day to 1 business days	Must be employed and receive regular income, earn at least $800 a month, have a checking account and be an 18+ years old legal US citizen.	Get a flexible installment loan with fast funding through one easy online application form.	Go to site More Info		loading Fetching your data...
LendYou Short-term Loans			$15,000	Same business day to 1 business days	$1,000+ monthly income, direct deposit, US citizen or permanent resident, ages 18+	Get offers from potential lenders in minutes by filling out just one online form.	Go to site More Info		loading Fetching your data...
Possible Finance Mobile Installment Loans			$500	As fast as 1 business day	Checking account with 3+ months of banking history, $750+ monthly income, live in eligible state, ages 18+	Borrow up to $500 with just a few swipes — but only for residents of 5 states.	Go to site More Info		loading Fetching your data...

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How much will a payday loan in Missouri cost?

Missouri payday loans are high-cost forms of credit. Here are the possible fees a lender may charge when you borrow.

• Financing fees: 75% of the initial loan amount–this includes all interest and other fees
• Collection fees: Lenders may charge a reasonable non-sufficient funds (NSF) fee if you fail to repay
• Default charges: Court costs and reasonable attorney fees

Want to apply for a payday loan in Missouri?

Whether you apply online or in-store, you should be at least 18 years old, be an American citizen or permanent resident and have a regular source of income.

Lenders usually require you to supply some personal information in order to confirm your identity and disburse your loan. This includes your Social Security number and details from a valid form of ID. You’ll also have to discuss your monthly income and some details about your employment, and if you’re applying online, lenders will request access to your personal checking account.

What should I consider before getting a payday loan?

If you’re having trouble paying bills, you might want to consider applying for federal or state food stamp programs and the Low Income Home Energy Assistance Program (LIHEAP) if you have trouble heating your home during the fall and winter.

Other options you might want to consider are

• Consolidate your debt. If you have multiple loans taken out and are struggling to pay them down because of high interest payments, taking out a larger personal loan to cover it can help you budget and lower your interest.
• Consider a credit card cash advance. If you have a credit card, you can cash out the remaining balance on your line of credit. These have high interest but longer terms than a payday loan so you have more time to pay back what you borrow.
• Ask your family and friends. Your loved ones may be willing to help you with an emergency bill if you ask. Remember that this is still a loan and you should pay it back as quickly as you can to avoid hurt feelings.

There are some other options before you borrow

Bottom line

If you need money, a payday loan might seem like a good option. They can cover an emergency or a large bill, but the laws in Missouri are quite lax. You’ll want to read the entire loan contract before you accept a loan to avoid having to pay extra fees should you miss a payment.

Frequently asked questions

• Can I take out more than one loan at the same time?

  You can borrow $500 from any one lender at a time.

• What is the maximum number of rollovers I can get?

  You can roll over your loan six times provided you reduce the principal amount by at least 5% upon each renewal.

• Is there a cooling off period before I can apply for another payday loan?

  Missouri law doesn’t require you to take out a payday loan, but it’s a good idea to take a break between payday loans to avoid taking on extra debt.

• What happens if I cannot repay my loan on time?

  There are no repayment or installment plan options available in Missouri. While the lender cannot pursue criminal action against you, if you default on your loan repayment, you will be responsible for paying back the full amount of the loan, all interest and fees, plus collection fees, including reasonable attorney’s fees and court costs.

• How can I make a complaint?

  If you have a complaint about a payday lender or want to report an irregularity, get in touch with the Missouri Division of Finance.