Payday Loans Service
In Billings, MT
Personal Loans Vs. Payday Loans in
Billings, MT and the whole state of Montana
Why Payday Loans Might Not Be The Best Option For You Or Your Family?
Payday loans as an industry went out of business in Montana when the interest rates were regulated to a maximum APR of 36%. Montana residents have found that online payday loans are still accessible, however. These companies’ applications are done online or over the phone. If you qualify, the payday loan money is deposited into a bank account. Every two weeks to 1 time a month, a set amount is taken automatically from a bank account to pay this loan back. The repay back on these payday loans is VERY expensive. 1 of our customers brought us their loan information. They borrowed $1,000 at 839%. The payments per month were around $700. If this payday loan was kept out for 1 year the interest would be over $7,000. It is easy to see why needing quick cash at that rate just isn’t worth it. Call Bighorn Financial today for more information on payday loans in Billings, MT and the whole state of Montana.
Bighorn Financial Has A Better Alternative To Payday Loans
Our rates were always in line with the new state regulation. We did not have to make any adjustments. Our payments on a $1,000 at 36% would be $100.46. The total interest charged over 1 year is $205.52. We can take your applications over the phone or in person. We are unable to deposit your loan money in a bank account but we do give you a check same day. You can cash it at our bank whether you have a bank account or not. Depending on the stability of the applicant, collateral may be required. While you physically have to come in and meet us and sign your loan documents, this is a small price to pay to not have to pay over 800% per year in interest. If you currently have an online payday loan and are struggling to keep up the payments or you are thinking about payday loans and want more information, give Bighorn Financial a call today!
Learn More About Our Title Loan Services
After Montana capped interest rates at 36% APR, numerous payday and title loan businesses shut their doors. However, Bighorn Financial continues to provide loans using your paid-off vehicle as collateral, which allows you to secure a loan against the title.
Unlike pawn services, our title-secured loans allow you to keep possession of your car. Our loan amounts vary from $500 to $20,000, depending on:
- Your job stability
- Your vehicle's value
- Your residential address
Schedule a consultation with us today to learn more about our title loan services. We offer same-day services and can conveniently process your application over the phone.
