Find Payday Loans in Arizona
Arizona law requires all cash advance lenders to be licensed with the state. Each written agreement between a creditor and a payday loan borrower must list the phone number and address that the customer can write to for purposes of filing a complaint. Payday cash advance lenders are not allowed to enter into more than one service contract with a borrower at a time. Furthermore, a consumer cannot have more than one outstanding payday loan at one time.
Arizona law permits payday cash loan stores to issue loans for an amount not exceeding $500.
Under Arizona law, the minimum loan term is 5 days.
Borrowers are allowed three extensions or rollovers.
The maximum finance rate that a cash advance store can charge for an initial loan transaction or rollover is 15% of the face amount of the check.
The annual percentage rate for a 14-day loan in the amount of $100 is 459%.