Best Payday Loan Lenders in Missouri

Ah, Missouri! The “Gateway to the West, also known for the famous people who were born there. The list includes the 33rd U.S. President Harry S. Truman and the father of American literature Mark Twain. A less known fact, though is that Missouri is a haven for payday lenders. In 2018, Missouri payday loans storefronts exceeded the combined number of McDonald’s, Starbucks, and Wal-Mart stores. That’s why we made sure to weed out all the rotten apples and present you with only the best of the best. Read on to learn which they are.

Best Payday Loans Providers in Missouri

Cash Central Logo

Cash Central

online lending made simple.

Looking for top online payday loans in the US? Cash Central could be an excellent place to start. This brand is state-licensed, which ensures the safety and credibility of its services. They operate solely as an online lender, meaning that in-store cash advances are unavailable.

Loan amount range: $100 to $200 (loan amount may increase based on personal qualifications)

Loan term: 14 to 30 days

APR: 486% on a 15-day loan

Min. credit score: N/A

Fees: $20 per $100 borrowed

Approval time: Almost instant

Funds available in: Same or next business day

Number of Mississippi stores: Online only

Online application: Yes

24/7 open: No

Advance America

Advance America

Money today, momentum tomorrow.

One of the industry pioneers, Advance America has been in business since 1997. With over 1,400 physical stores across the continent and millions of clients served, Advance America offers some of the top payday loans on the market. They run a full-disclosure, no-nonsense kind of business where the customer always comes first.

Available in: AL, CA, CO, DE, FL, ID, IL, IN, IA, KS, KY, LA, MI, MS, MO, NE, NV, OH, OK, RI, SC, TN, TX, UT, VA, WA, WI, WY

Loan amount: Up to $1,000 (some states have a lower cap)

Loan term: 2-4 weeks

APR: Depends on the loan term (231-495%)

Min. credit score: N/A

Approval time: Almost instant

Funds available in: Same or next business day

Online application: Yes

Check into Cash Logo

Check into Cash

Your One Stop Money Shop

A true trailblazer, Check into Cash is among the best payday loans providers out there. The company was established in 1993, and they operate over 800 stores across 20 states. It is a well-established brand with numerous storefronts, which is quite reassuring to many customers. On the downside, they do run credit checks on new customers.

Available in: AL, AK, CA, DE, FL, HI, ID, IN, KS, MS, MO, NV, OK, OR, TN, TX, UT, WA, WI, and WY

Loan amount: $50-$1,000 (some states might have a lower cap)

Loan term: 14-30 days

APR: Depends on the loan term (261-782%)

Min. credit score: 300

Approval time: Almost instant

Funds available in: Same or next business day

Online application: Yes

Check'n Go Logo

Check ‘n Go

Real solutions for real people

Check ’n go opened its doors to customers in 1994. Their first storefront was in Kentucky, and they’ve since expanded their business to over 20 states. This company offers quick payday loans, with interest rates that fall well within the industry average. With 26 years of experience and 1,000 stores across the US, you can’t go wrong with Check ‘n Go.

Available in: AL, CA, DE, FL, HI, ID, IL, IN, IA, KS, KY, ME, MI, MS, MO, NE, NV, ND, OH, OK, RI, SC, TN, TX, UT, WI, WY

Loan amount: $50-$1,500 (some states might have a lower cap)

Loan term: 10-35 days

APR: Depends on the loan term (214.68-661.80%)

Min. credit score: N/A

Approval time: Almost instant

Funds available in: Same or next business day

Online application: Yes

Laws Governing Missouri Payday Loans

Missouri’s payday lenders don’t face as restrictive rules as their peers elsewhere. That said, the maximum loan amount is lower than in a lot of states, even if the average APR can soar to triple digits.

State Law

Requirements for Payday Loans in Missouri

Bad Credit Payday Loans in Missouri

These loans are designed for people with a below-average credit score. Therefore, it shouldn’t be an obstacle in the application process.

Failing to Repay a Payday Loan in Missouri

Criminal charges are prohibited. Don’t fall for jail-time threats. With that out of the way, payday lenders can still charge you NSF (non-sufficient funds) fees and sell your debt to collection agencies. If push comes to shove, the best course of action is to contact debt-relief non-profits.

Reviews of the Best Payday Loans in Missouri

Cash Central

Cash Central is a superb, state-licensed lender that offers online payday loans in the Show-Me State. They have extensive experience and offer first-class customer service. The Missouri Division of Finance has renewed its license until June 2021.

Pros

Cons

Lending Offer Overview

Cash Central is an excellent place to get a Missouri payday loan online. The duration of their Missouri online payday loans ranges from 14 to 31 days, and the APR depends on the loan’s term (294% to 651%). The singular drawback of the loans is the high fees that borrowers have to pay. They charge $25 per $100 advanced. Cash Central provides loans of between $100 and $500, which is the upper limit in Missouri. Lenders are allowed to renew a loan up to 6 times, but it comes with a caveat. Customers need to repay at least 5% of the principal amount before rolling a loan over. While Missourians have a couple of repayment options at their disposal, the majority of borrowers prefer the convenience of automatic withdrawal from their debit cards or checking accounts.

Other Features

Cash Central provides easy-to-access Missouri payday loans online. Borrowers can complete the whole process on the company’s website within a matter of minutes. Once approved, you can expect the funds to be deposited within 24 business hours (during the workweek). If you happen to apply during the weekend, expect to wait up to 72 business hours. Be aware that you’ll be subject to an NSF fee if your check bounces once the loan reaches maturity.

Advance America

With 61 storefronts, Advance America is the most accessible lender in the state. What’s more, they have some of the best online payday loans in Missouri. Advance America is licensed by the State of Missouri Division of Finance.

Pros

Cons

Lending Offer Overview

If you’re looking for a well-established lender with decades of experience, then you’ve come to the right place. They’ve been in the game since 1997 and have the required know-how to meet their customers’ needs. The company’s offer is arguably the best in the state, and this is what you can expect — the loan term usually goes from 14 to 31 days, with possible rollovers. Their clients can borrow between $100 and $500. Advance America’s Missouri payday loans are the most affordable, with the APR ranging from 231% to 495%. The interest rate translates into a fee of $19 per $100 borrowed. Missourians can repay their loans in a bi-weekly or a monthly cycle. Missouri laws on payday loans dictate that lenders can renew a loan up to 6 times, provided that debtors repay at least 5% of the principal amount.

Other Features

Advance America is known for catering to its customers’ needs. The company’s payday loans in Missouri are available online, over the phone, or in person. In any event, the application process shouldn’t take you more than 10 minutes. Their first-class customer care further adds to the already excellent client experience. Advance America likes to give back to the community, and that’s what truly makes them stand out. They donate to local charities and national non-profit organizations.

LendUp

LendUp is one of the most responsible and well-reviewed online lenders. Convenient and easily accessible online payday loans in Missouri are available via this website. On the other hand, the lack of storefronts could be a fly in the ointment for some borrowers. The State of Missouri Division of Finance renewed LendUp’s license in 2020.

Pros

Cons

Lending Offer Overview

LendUp brings a breath of fresh air into the lending scene. Their offer includes the best-rated online payday loans Missouri has to offer. Unfortunately, they don’t have any storefronts in the state. Another possible downside is the maximum loan amount ($300), which is way below the state limit. Return borrowers are eligible for loans of between $100 and $400. The APR they offer is relatively high, and it goes from 304% to 651%, depending on the loan’s length. Customers need to pay a substantial finance charge — $25 per $100 loaned. Missouri payday loan laws allow lenders to renew a loan up to six times. However, certain conditions apply. The debtor needs to repay 5% of the principal amount at the very least before rollover is granted.

Other Features

LendUp is an exceptional, modernistic firm that seeks to refine the payday lending industry. As some of the top online payday loans Missouri has to offer, their products are optimized for smartphone access. Additionally, customers can apply on their well-designed and secure website. Repeat borrowers who promptly reimburse their loans can collect points that allow for better rates and higher loan amounts. LendUp’s clients can manage their accounts and funds on the go with the help of this company’s smartphone app. Lastly, they provide financial education and courses to their customers free of charge.

Check Into Cash

Check into Cash is an easily recognized brand in the lending business. They extend online and in-store Missouri payday loans. You can get a payday loan in Missouri at any of their 42 locations across the state. Check into Cash had their license renewed by the State of Missouri Division of Finance until December 2021.

Pros

Cons

Lending Offer Overview

One of the industry’s undisputed veterans, Check into Cash is behind some of the best online and in-store payday loans Missouri has to offer. There are some differences between the two loan types. Let’s take a look. The first one is the fee customers are required to pay. Online loans are more expensive with a finance charge of $25 per $100 borrowed, while their in-store counterparts will set you back $17 for each $100. The other relatively negligible difference is in the loan amount. It ranges from $75 to $500 in storefronts and $100 to $500 online. The APR starts at 304%, reaching its peak at 651%, depending on the loan term (14-31 days). Their clients are eligible for 6 rollovers under the condition that they repay at least 5% of the principal sum.

Other Features

Check into Cash offers fast and easily accessible cash advances. Their Missouri online payday loans are available alongside in-store cash advances. Acquiring a loan is a walk in the park. Fill out a straightforward application form, and you’ll be well on your way to getting approved. The entire process shouldn’t take more than 10 minutes. This brand’s mobile app allows borrowers to manage their accounts and funds while out and about. Their expert customer support is only a phone call away, so don’t hesitate to get in touch.

Check ‘n Go

Check ‘n Go is an exceptional company that offers both online and in-store cash advances. Missouri payday loans are available at 20 locations statewide. As a member of the Online Lenders Alliance, Check ‘n Go promises to promote the best lending practices, which places it among the top payday loan providers. The vendor is licensed by the State of Missouri Division of Finance until December 31st, 2021.

Pros

Cons

Lending Offer Overview

Unquestionably, among top-rated payday loans Missouri has to offer, Check ‘n Go makes both storefront and online cash advances available. Their in-store rates are only available at personal request and might differ based on the circumstances. Online rates and terms are one-size-fits-all. The APR depends on the duration of a loan, and it varies between 316% and 664%. Speaking of the loan term, it goes from 14 to 31 days. Since the loan amount is standardized, it should come as no surprise that this company offers cash advances of up to $500. Their Missouri payday loans come with a somewhat high fee of $25 for each $100 borrowed. Check ‘n Go allows their clients to roll over a loan three times, provided that they pay down the principal amount by at least $25.

Other Features

If you need a short-term cash advance, then Check ‘n Go is the place to be. You will be able to access your funds in no time since the application process is simple and straightforward. Filling out the form is simple, and it doesn’t take a hot minute. Clients that require instant access to funds will very likely opt for in-store loans. Online payday loans, on the other hand, are more convenient to get, but you’ll need to wait up to 48 hours for a deposit.

Payday Loans Missouri Statistics

There seems to be an inverse relationship between the number of active lenders, the APR, and the average loan amount. As the number of lenders decreases, the other two variables are going up. This can be clearly seen in the table below.

Year Active Lenders Number of Loans Average Loan Amount Average Number of Renewals Average APR
2011 1,275 2.83 million $290.29 1.7 430.68%
2013 1,040 2.43 million $307.56 1.6 444.61%
2015 934 2.34 million $306.12 1.5 454.62%
2017 898 1.87 million $309.64 1.6 451.91%
2019 617 998,776 $306.49 1.6 526.74%

 

– Stats Provided by Missouri Division of Finance

FAQ

Are payday loans legal in Missouri?

Yes, payday loans have been permitted in Missouri since the 1980s.

What is the maximum interest rate allowed by law in Missouri?

The interest rate and fees mustn’t exceed 75% of the initial loan amount.

Conclusion

Missouri is home to a myriad of payday lenders, and many of them charge exorbitant fees. The highest APR recorded was 1950%, which is downright ridiculous. Always do your research to avoid falling into such traps. On the other hand, you could save time and take our advice. The companies on this list genuinely offer the best Missouri payday loans available.

Remember to always borrow responsibly and never take out more cash than you can reasonably pay back.

Your BalancingEverything Team

References:

CashCentral

Advance America

LendUp

CheckIntoCash

Check ‘n Go

MissouriLaws

MissouriStateFacts

OnlyInYourState

OppLoansMissouri

Stlamerican