Payday lending is legal in Iowa, and over $220 million was disbursed to borrowers like you in 2015 in around 630,000 loans, according to the Iowa Banking Division. Expect to borrow as much as $500 at a time. Also, rest assured that you have the freewill to buy or pay for any type of item or situation you need—provided it is a legal item or activity in the U.S.
Almost everyone one can obtain a paycheck loan in Iowa from over 150 cash advance and payday loan lenders.
Installment & Personal Loans in Iowa
If you need a sizable amount of cash but you can’t access it through a bank loan or credit union advance, look forward to obtaining as much as $10,000 through our network of credible lenders.
You are free to pay monthly payments for up to the time indicated in your loan agreement to cover more hefty expenses while going about your normal business. This way, you can payoff your short-term loan and avoid a whirlpool of debt by borrowing from multiple lenders to payoff other personal loans in IA.
How it Works
While we do not directly provide the cash or make the final loan approval decision, we leverage our vast network of licensed, credible and comparably affordable lenders’ network to help you find a matching loan option.
You can tap into this powerful resource to compare multiple payday loans and installment loan options in Iowa. There is a lender to be found near your location and those that also match your money needs—even when you have a weak credit score and need a bad credit loan in Iowa.
However, be sure to provide the following:
- Be 18 years and above—provide a valid form of ID
- Have a permanent job or offer proof or repayment ability if, say, you are self-employed or receive Social Security Checks
- Have an active checking account
It’ll only take minutes to receive an approval decision, and just hours to receive your funds in the checking account you provide—simple and straightforward.
Lending Laws in Iowa
The Iowa lending industry got a major boost just months back after a number of regulations were passed; to both help the borrower access easy, quick and affordable cash advances, and protect them from unscrupulous lenders.
Lenders should not charge more than $15 for a $100 loan but can add $10 for every $100 loaned above the first $100. Also, at no one time should a borrower be allowed to take up a loan exceeding $500. No extensions and rollovers are allowed, and the maximum payment period for a payday arrangement is 31 days.
For biweekly online personal loans, the APR for a $100 is capped at 433%. And multiple loans are not encouraged by the state lending law so as to discourage repetitive borrowing and delinquencies, which ruin a person’s credit rating.
Average Credit Score in Iowa (IA)
The state has a FICO credit rating of 686 with an average debt amount of $27,000. Only about 10% of residents have a declining credit score. The city of Cedar Rapids is rated at 10th best nationally with a good credit rating of 699.
Iowa Population and Demographics
Some 3.315 million people call the Fields of Opportunities home. Of these, 474,075 live in Polk County and the capital, Des Montes is the most populous. The Hawkeye State is the 30th most populous in the US, and over 61% of the population is young and urban-based.
About 91.3% of the population is made up of Whites (35% of German lineage), 5% Hispanic and 2.9% African American. And the ratio of men to women is roughly 1:1.
The Economic Indicators in Iowa
Iowa enjoys a diversified economy. It deals in manufacturing, agriculture, information technology solutions, energy production, finance and insurance services. The state ranks 16th in the U.S with a median household income of $60,855 and per capita income of $28,628. And unemployment rate declined to 3.1% as of April 2017.