The payday loan laws in the state of Iowa are fairly standard when compared to some other states. The maximum amount you can borrow is $500 and you will typically have up to one month to pay it back in full plus any fees that you have accumulated. Loan amounts of $100 or less, will be subject to a $15 finance charge. Each additional $100 borrowed will incur an extra $10 fee so if you were to borrow the full amount allowed in the state of Iowa which is $500, you’ll have to pay back $555 total.
Many payday loan companies in Iowa operates in a variety of different capacities. You’ll have your standard options for payday loans, title loans and even pawn loans if you don’t qualify for payday loans were simply are looking for something a little smaller. To qualify for payday loans in the state of Iowa, you’ll need to be 18 years old, have a valid identification, proof of residency such as a power bill, checking account standing and have a stable, verifiable monthly income.
Iowa Pay Day Loan Laws
Maximum Loan Amount: $500
Maximum Finance Rate: $15 on loans $0-$100; $10 per $100 after that.
Annual Percentage Rate For 14 Day $100 Loan: 433%
Minimum Payoff Time: 1-31 Days
Extensions Allowed: None
Top 5 Iowa Payday Loan Companies
1238 E. 14th St.
Des Moines, Iowa
515-262-2552
getezmoney.com
At any of the EZ Money company locations which are spread across six states, you can usually borrow between $100 and $500 to help bridge the gap between paydays. What you have to do is fill out an application either online or at a physical office and it will determine whether or not you’re qualified in just a few minutes. The website make sure to state that these payday advances aren’t intended to be a long-term financial solution but instead are for emergency situations when you need cash fast.
1701 3rd Ave. E., #2
Oskaloosa, Iowa
641 672-2753
fcetp.com
Fast Cash of America offers you $.25 money orders, payday loans, check cashing services and a place to purchase prepaid debit cards.in Iowa, there are almost a dozen physical locations in cities such as Burlington, Centerville, Davenport, and Iowa city. By having multiple locations scattered around the state, it’s easy to find a physical office relatively quickly. This company specializes in the traditional type of short-term loan where you get some money put into your bank account today, then pay it back in full plus any fees incurred at a later date.
600 Blairs Ferry Rd NE #D
Cedar Rapids, Iowa
319-378-0500
chec-king.com
Chec King doesn’t offer any online applications and instead likes to deal with its customers face to face in their physical offices. This relatively small company based in Iowa offers traditional payday loans to people who meet their simple requirements. These requirements are a current bank statement, the current page check stub or proof of income, a driver’s license or other state ID, and your checkbook. This company works as a normal check holding type of payday loan service where you post dated check for a specified date and receive the money today. When that day comes, the company simply caches your check so you need to make sure you have enough money in your account.
2801 Mount Vernon Rd. SE #1
Cedar Rapids, IA
319-363-7200
moneystationiowa.com
Money station offers Iowa residents short term payday loans of up to $455.To qualify for a payday loan with this company, you need to have a full-time job, valid checking account, state ID, and a valid phone number. To qualify for the maximum amount available, you’ll have to make over $1000 per month. This company is very customer oriented and doesn’t want people to borrow more than they can successfully pay back. They understand that it can be easy to get into a financial bind in these economic times. As of October 2011, the website was under construction so not every page is working as intended.
200 Army Post Rd.
Des Moines, Iowa
515-287-9980
checkintocash.com
Check Into Cash is a widely recognizable personal finance company that has offices scattered all across the United States. These stores offer cash advances, online payday loans, title loans, check cashing services, Western Union, electronic bill paying, and reloadable dead in phone cards in a single stop. You can visit one of the many locations in Iowa, or choose to fill out a simple online application that only takes a few minutes to complete.