Mr. Payroll
3638 Midland Boulevard
Fort Smith, AR
(479) 785-3202
cashamerica.com
Mr. Payroll is mostly considered an title loan and pawn business that connects visitors with quick cash in Arkansas. When you first visit the site, you’ll immediately see the huge application area where you can input how much you are looking to borrow and where you’re located. After you put in your state, in this case Arkansas, you’ll be taken to a new page that has state specific payday loan information.
Most people can get accepted through Mr. Payroll as long as they have verifiable income, a checking account and ID for short-term loans and their title loan program is similar but you need to sign over your car title.
What They Offer
Mr. Payroll does short-term loans as well as title loans of various amounts.. This can be determined by how much you make per month and where you’re located. You can get approved within just a few minutes and you may be contacted by phone by a representative from the company. After the application process, you will have funds in your account within 24 hours at the most online or right away in person.
This site contains a useful blog that features information on payday loan laws, budgeting, credit counseling and more. This gives you something to do while you wait for the application to finish processing and could give you valuable insight on future borrowing.
Where They Are Located
This company has pawn shops and payday loan stores across Arkansas but the official website is setup so you can access their services no matter where you are in the US. This can be useful if you use this service a few times a year because once you’re in their system, the entire process is extremely fast because they already have your information.
Rates/Terms
For the state of Arkansas, the most you can borrow is $400 from a single company for a payday loan. You’ll be expected to pay this full amount back plus all fees at the date you agree upon. This could be as little as 6 days or as many as 31 days but if you fail to pay it back on time, you may end up with a negative bank account and additional fees. To avoid this, simply contact the payday loan lender you are using and let them know, they will typically offer a repayment plan.
The maximum finance charges in Arkansas are 10% of the total borrowed amount plus $10. For a $100 loan payed back in 14 days this equates to 579% APR.
Additional Info
If you use a payday loan service like this often, if they offer a membership, it can save you time and money the next time you use them. Some may give you discounts on fees and other benefits. If you are only using the service once, it’s probably not worth your time but is worth considering. Ask the lender you’re matched with if they offer discounts or friend referral bonuses if you think it applies to your situation and you could benefit nicely.
