Payday Loans & Installment Loans in Missouri, Apply Online with Bad Credit

Missouri payday loans from LendUp are here to get you out of a bind with loan amounts up to $500 and terms 14-31 days. Application is quick, easy and online, even with bad credit, and funding often possible at the same or next business day. Missouri regulations cap fees and interest and LendUp is transparent and user friendly with responsible lending practices so you can count on us for short term needs from a licensed lender.

When unexpected expenses pop up, having cash fast can make all the difference. Designed to get you cash fast in a financial emergency, Missouri payday loans through LendUp offer:

• Loan amounts up to $500

• Terms 14-31 days

• Simple and quick application process

• For Missouri residents who need cash now.

LendUp is a socially responsible loan matching service that helps customers meet their short term needs. By providing access to online payday and installment loans, LendUp eliminates the hassle and stress of traditional lending so Missouri residents can get financial help easy.

What are Missouri Payday Loans?

Payday loans in Missouri are short-term, high-interest loans made to provide quick cash to borrowers who need immediate financial help. Missouri loans, including payday loans and online installment loans, offer quick access to short-term financial support tailored for residents of Missouri. Unlike installment loans, which are paid back over a series of payments, payday loans are typically due in one lump sum on the borrower’s next payday.

Missouri payday loans are regulated to protect borrowers from excessive fees and high-interest rates, making them a safer option compared to unlicensed lenders.

These loans are a popular choice for Missouri residents facing unexpected expenses or financial emergencies.

How to Apply for Missouri Payday Loans

The process is quick and easy to apply for a payday loan in Missouri.

To qualify you must:

• Be 18 years or older

• Have an active bank account

• Be a Missouri resident

• Have a valid government-issued photo ID

• Have proof of income

• Not be in bankruptcy.

Application involves submitting copies of these documents through LendUp’s online form.

Once all info is submitted the application is reviewed and if approved funds can be deposited into the applicant’s bank account. For those with an urgent need for cash this quick application process means you can get funds fast, often on the same business day.

Why Use Direct Lenders for Payday Loans in MO

Using payday loans from direct lenders has many benefits. Some of those benefits are:

• More personalized customer service than indirect lenders

• Borrowers get advice and support throughout the borrowing process

• Borrowers know their loan terms and repayment obligations

Another benefit is the reduced risk of hidden fees and additional charges. As a direct lender they are more transparent with their fees so borrowers can save money and avoid surprise charges. Direct lenders also offer more flexibility in loan amounts and terms so borrowers can find a solution that fits their financial situation.

Missouri Payday Loan Rates and Fees

Knowing the rates and fees for Missouri payday loans is important to make informed borrowing decisions. The APR for payday loans in Missouri can range from 176% to 652%.

For example borrowing $100 at 652% APR would be $25.08 in fees for a 2 week term.

Missouri law limits the total interest and fees to 75% of the original loan amount so borrowers can’t be overwhelmed with too many charges. This regulation protects borrowers from predatory lending and creates a fairer borrowing environment. No extra charges beyond what’s in the statute are allowed, including fees for cashing the loan proceeds.

Late fees, early payment fees and finance charges can also add to the total amount of money owed. Late fees can add up to over $20 to the total amount. Borrowers should be aware of these extra costs and plan their payments accordingly to avoid financial stress.

Same Day Loan Deposit

Same day loan deposit is a big plus for Missouri payday loans. This is especially helpful for those who need cash now. To qualify for same day funding you must have a valid debit card on file. This allows for instant transfer of approved funds into your bank account.

If you don’t have a valid debit card the process is still fast, funds will be deposited the next business day. So even if same day funding isn’t possible you can still get the cash you need fast. The whole same day loan application process is designed to be quick and easy and takes most applicants only a few minutes to complete.

Are Payday Loans Guaranteed in Missouri?

Contrary to what you may have heard, Missouri lenders don’t offer guaranteed payday loans. But many online lenders offer loans with no credit checks or income verification so payday loans are available to a wider range of borrowers. This means those with bad credit can still get the cash they need.

While instant guaranteed loan approval isn’t possible at LendUp, pre-approved applications can get approved based on income not credit scores. So as long as you can show you can repay the loan you have a good chance of being approved. This way payday loans remain available to those who need them most.

Missouri Payday Loan with Bad Credit

With many online lenders the possibility of getting a payday loan in Missouri with bad credit is very real. These lenders don’t require traditional credit checks or income verification so payday loans are available to a wider range of borrowers. This is especially helpful for those who have had financial difficulties in the past and have bad credit.

By focusing on the borrower’s income and ability to repay rather than their credit history lenders can offer loans to those who would otherwise be excluded from traditional lending. This means everyone has the chance to get the financial help they need in an emergency.

Payday Loans vs Installment Loans

A comparison of payday loans and installment loans shows big differences in repayment terms, APRs and overall cost of borrowing. Payday loans are due in one lump sum on your next payday often resulting in a balloon payment. This can be tough to repay especially if you’re already struggling financially.

Installment loans are repaid in multiple payments over a set period of time making them more manageable. They have lower APRs than payday loans which can be over 400%. For example a 4 month installment loan of $100 at 652% APR would cost up to $263.84.

The longer loan term and lower interest rates make installment loans a better option for many borrowers.

Missouri State Laws

Missouri state laws help protect borrowers from predatory lending. Payday lending is legal in Missouri with the following laws:

• Loan amounts are capped at $500

• Loan terms are 14 to 31 days

• Total interest and fees on a payday loan can’t exceed 75% of the initial loan amount including renewals.

These laws help prevent excessive fees and ensure payday loans are used responsibly.

Missouri law also allows up to 6 rollovers on payday loans so borrowers have more time to repay. Criminal actions against borrowers are also prohibited so individuals can’t be penalized for financial difficulties. These laws create a safer borrowing environment for Missouri residents.

Why Use LendUp to Borrow a Loan in Missouri

Using LendUp’s loan-matching service for Missouri payday loans has many benefits. LendUp's lenders follows Missouri laws so borrowers don’t pay more than 75% of the initial loan amount in fees. LendUp’s transparency and fairness makes it a good choice for payday loans.

LendUp’s online application is easy to use and can be completed in as little as 5 minutes. Instant approval, easy application process and same day funding possibility means borrowers can get the money they need fast. This is especially helpful for those in urgent need of funds.

Also some of LendUp's licensed direct lenders have flexible repayment options and no traditional credit checks so loans are available to a wider range of borrowers. By practicing socially responsible lending LendUp helps customers manage their short term financial needs ethically and efficiently.

Frequently Asked Questions