Clemmons Personal Loan Terms and Rules in 2025

Common Capital is a Help Organization dedicated to providing the public with comprehensive, accurate, and accessible online information about payday loans in North Carolina.

Table of content
Jump to
North Carolina Clemmons

Clemmons Short-term Loans Terms

Legal Status Illegal
Interest Rate (APR) 36% small loan cap

Trusted Personal Loan Lenders in Clemmons, NC

Discover our carefully curated list of trusted personal loan lenders, committed to providing reliable, transparent, and affordable financial solutions tailored to your unique needs and circumstances.

Lender
User Ratings
Address
Phone
Category
Allegacy Federal Credit Union
User Raiting:
2.90
Address: 6320 Allegacy Way, Clemmons, NC 27012
Phone: +1 (336) 830-8600
Category: Credit union
Wells Fargo Bank
User Raiting:
2.50
Address: 2565 Lewisville Clemmons Rd, Clemmons, NC 27012
Phone: +1 (336) 761-3940
Category: Bank
First Horizon Bank
User Raiting:
1.40
Address: 6290 Towncenter Dr, Clemmons, NC 27012
Phone: +1 (336) 778-8987
Category: Bank

North Carolina Short-term Loan Regulations

In North Carolina, payday lending is essentially prohibited, as the state has stringent laws regarding small loans. The North Carolina Consumer Finance Act, which governs small loan businesses, caps interest rates on small loans. This cap makes traditional payday lending, with its high-interest rates and short-term loan structures, unprofitable within the state.

Specifically, the law caps the interest rate at 36% annually for consumer loans. This rate is significantly lower than the typical rates charged by payday lenders in other states. As a result, there are no payday loan storefronts in North Carolina. The state had experimented with allowing payday lending in the late 1990s and early 2000s but decided to let the authorizing law expire after concerns about predatory lending practices.

Additionally, payday lenders in North Carolina, as in all states, must comply with federal regulations, including the Truth in Lending Act, which requires lenders to disclose the cost of the loan in terms of the finance charge and the annual percentage rate (APR). The Fair Debt Collection Practices Act also applies, regulating how debts are collected and prohibiting abusive, deceptive, and unfair collection practices.

What Are the Alternatives for Short-term Loans in Clemmons?

Explore affordable, sustainable alternatives to payday loans that empower you financially, offering lower interest rates, flexible terms, and support to help break the cycle of debt.

Quick Installment Loans

Installment loans are loans repaid over time with a set number of scheduled payments. Quick approval makes them suitable for various financial needs.

Guaranteed Cash Loans

Cash loans provide an immediate sum of money to address urgent expenses. Guaranteed funds or amounts may vary based on credit evaluation.

Instant Title Loans

Title loans are secured loans using your vehicle title as collateral. Instant access to cash depends on your car's value and repayment capacity.

Emergency Loans Fast

Emergency loans offer swift financial aid for unexpected expenses, like medical bills. Fast processing ensures speedy access to needed funds.

Online Payday Loans

Payday loans online provide short-term funds for covering expenses until your next paycheck. Convenient online applications expedite receipt of funds.

No Credit Check P2P Loans

P2P loans, or peer-to-peer loans, allow individuals to borrow from others. Innovative platforms enable borrowing without extensive credit checks.

Debt Consolidation Loans Instant

Debt consolidation loans combine multiple debts into a single, simpler payment. Instant consolidation can help streamline your repayment process.

Online Bad Credit Loans

Bad credit loans cater to individuals with poor credit histories. Online lenders may offer options that account for financial challenges and credit mishaps.

Requirements for Instant Cash Advance

  • Proof of identity: A government-issued ID such as a passport or driver's license.
  • Proof of income: Recent pay stubs or a bank statement to verify your financial situation.
  • Contact information: Valid email address and phone number for communication purposes.
  • Bank account details: An active bank account to receive the funds.
  • Completed application form: Accurately filled out with all required personal and financial details.
  • Age requirement: Must be at least 18 years old to qualify.

How to Use Personal Loans - Useful Resources

Explore essential resources on utilizing personal loans wisely. Learn strategies, benefits, and potential pitfalls to make informed financial decisions with our comprehensive guide for responsible borrowing.

Industry
Address
Phone
Car Wash
Address: 6325 Stadium Drive, Clemmons, NC 27012
Phone: +1 (336) 766-1445
Club & Association
Address: 4909 Hampton Road, Clemmons, NC 27012
Phone: +1 (336) 766-9005
Dentist
Address: 2265 Lewisville Clemmons Road, Clemmons, NC 27012
Phone: +1 (336) 766-1366
Fitness Club & Center
Address: 6221 Ramada Drive, Clemmons, NC 27012
Phone: +1 (336) 766-9215
Government Office
Address: 3802 Clemmons Road, Clemmons, NC 27012
Phone: +1 (336) 766-1496
Hotel
Address: 6204 Ramada Drive, Clemmons, NC 27012
Phone: +1 (336) 778-0931
Museum
Address: 4152 Clemmons Road, Clemmons, NC 27012
Phone: +1 (336) 778-0060
Pharmacy
Address: 2770 Lewisville Clemmons Road, Clemmons, NC 27012
Phone: +1 (336) 766-0324
Restaurant
Address: 1483 River Ridge Drive, Clemmons, NC 27012
-
Specialist
Address: 3540 Clemmons Road, Clemmons, NC 27012
Phone: +1 (336) 778-0506
Veterinarian
Address: 8415 North North Carolina Highway 150, Clemmons, NC 27012
Phone: +1 (336) 764-3000

How to Get to Clemmons

Complaints about Short-term loan, Title Loan, or Personal Loan in North Carolina

Issue Type
Amount of Complaints
Charged fees or interest you didn't expect
284
Problem when making payments
166
Struggling to pay your loan
136
Problem with the payoff process at the end of the loan
112
Getting the loan
98
Incorrect information on your report
88
Problem with additional add-on products or services
67
Charged fees or interest I didn't expect
67
Getting a line of credit
62
Improper use of your report
32
The data is taken from consumer complaint database created by Consumer Financial Protection Bureau

Submit a Complaint for a Short-term lender in Clemmons

If you need to submit a complaint against a payday lender in North Carolina, the primary regulatory body is the North Carolina Commissioner of Banks. They ensure compliance with state laws governing payday loans. You can reach them at:

  • North Carolina Office of the Commissioner of Banks, 316 W. Edenton Street, Raleigh, NC 27603
  • (919) 733-3016
Submit a Complaint

Frequently Asked Questions about Short-term Loans

Are Payday Loans Legal in North Carolina?

No, payday loans are not legal in North Carolina. The state has stringent laws and regulations in place that effectively ban payday lending to protect consumers from predatory practices and high interest rates. These regulations are designed to safeguard the financial well-being of North Carolina residents.

Why are Payday Loans Prohibited?

Payday loans are prohibited in North Carolina due to concerns about the harm they can cause to borrowers. The high-cost structure of payday loans can lead individuals into cycles of debt, making it challenging to achieve financial stability. The state government has implemented these laws to prevent payday lenders from exploiting vulnerable consumers.

What Alternatives Are Available for Short-Term Financial Needs?

North Carolina offers various alternatives for individuals facing short-term financial needs. These alternatives prioritize responsible lending practices and borrower protection. Residents can explore traditional bank loans, credit unions, personal installment loans, and assistance programs provided by nonprofit organizations and government agencies.

Can Out-of-State Lenders Offer Payday Loans?

No, out-of-state payday lenders are not allowed to offer payday loans to residents in North Carolina. The state's regulations extend beyond its borders to ensure that borrowers are protected from predatory lending practices, regardless of the lender's location.

What Should I Do If I Have an Existing Payday Loan in North Carolina?

If you have an existing payday loan, it's important to know that it is not legally enforceable in North Carolina. The state's laws render such loans void. If you're facing challenges related to an existing payday loan, you can seek guidance from the North Carolina Attorney General's Office. They can provide assistance and resources to help resolve any issues associated with the loan.

Where Can I Report Unlawful Payday Lending Practices?

If you encounter any unlawful payday lending practices or believe you have been targeted by predatory lenders, it's essential to report these issues. You can report them to the North Carolina Attorney General's Office. Your report can contribute to investigations and efforts to curb predatory lending practices in the state, protecting other consumers from similar experiences. Your actions can make a difference in promoting fair and responsible lending practices in North Carolina.

North Carolina Personal Loans Near Me

Aberdeen Advance Ahoskie Albemarle Andrews Angier Apex Archdale Arden Asheboro Asheville Askewville Atlantic Beach Aurora Avon Ayden Bailey Bakersville Balsam Grove Banner Elk Barco Bayboro Beach Beaufort Belhaven Belmont Belville Bennett Benson Bermuda Run Bessemer City Beulaville Biscoe Black Mountain Bladenboro Blowing Rock Bolivia Boone Bostic Bragg Brevard Broadway Browns Summit Brunswick Bryson City Buies Creek Bunn Burgaw Burlington Burnsville Butner Calabash Camden Cameron Camp Lejeune Candler Candor Canton Carolina Beach Carrboro Carthage Cary Cashiers Castle Hayne Catawba Cedar Island Cedar Point Chadbourn Chapel Hill Charlotte Cherokee Cherryville China Grove Chocowinity City Claremont Clarkton Clayton Clemmons Clinton Clyde Coinjock Colfax Columbia Columbus Concord Connelly Springs Conover Cornelius Corolla Cove City Cramerton Creedmoor Cullowhee Dallas Danbury Davidson Deep Run Denton Denver Dobson Duck Dunn Durham East Bend Eastover Eden Edenton Elizabeth City Elizabethtown Elk Elkin Ellerbe Elm City Elon Emerald Isle Enfield Engelhard Erwin Etowah Evergreen Fair Bluff Fairmont Faith Falls Farmville Fayetteville Flat Rock Fletcher Forest City Fort Bragg Four Oaks Franklin Fuquay varina Garland Garner Gastonia Gatesville Gibsonville Glade Valley Goldsboro Goldston Graham Grandy Granite Falls Granite Quarry Grantsboro Greensboro Greenville Grifton Halifax Hamlet Hampstead Hamptonville Harbinger Harmony Harrisburg Hatteras Havelock Hayesville Henderson Hendersonville Hertford Hickory Hiddenite High Point High Shoals Highlands Hildebran Hills Hillsborough Holden Beach Holly Ridge Holly Springs Hope Mills Hubert Huntersville Indian Trail Iron Station Isle Jackson Jacksonville Jamestown Jefferson Jonesville Kannapolis Kenansville Kenly Kernersville Kill Devil Hills King Kings Mountain Kinston Kitty Hawk Knightdale La Grange Lake Lure Landis Laurel Hill Laurinburg Lawndale Lawsonville Leland Lenoir Lewiston Woodville Lexington Liberty Lillington Lincolnton Linville Littleton Locust Louisburg Lowell Lowgap Lumber Bridge Lumberton Madison Maggie Valley Maiden Manns Harbor Manteo Marble Marion Mars Hill Marshall Marshville Marvin Matthews Maxton Mayodan Mcleansville Mebane Midway Park Mill Spring Millers Creek Mills River Mint Hill Mocksville Moncure Monroe Montreat Mooresville Morehead City Morganton Morrisville Moyock Mt Airy Mt Gilead Mt Holly Mt Olive Mt Pleasant Murfreesboro Murphy Nags Head Nashville New Bern Newland Newport Newton Newton Grove Norlina North Wilkesboro Oak Island Oak Ridge Oakboro Ocean Isle Beach Ocracoke Old Fort Oriental Oxford Pembroke Pfafftown Pilot Mountain Pine Knoll Shores Pine Level Pinebluff Pinehurst Pinetops Pineville Pink Hill Pisgah Forest Pittsboro Plymouth Point Point Harbor Polkton Pope Field Powells Point Princeton Providence Raeford Raleigh Ramseur Randleman Rapids Red Springs Reidsville Research Triangle Rich Square Richfield Richlands Riegelwood Roanoke Rapids Robbins Robbinsville Robersonville Rockingham Rockwell Rocky Mount Rolesville Rose Hill Roseboro Rosman Rowland Roxboro Ruffin Rural Hall Rutherford College Rutherfordton Salemburg Salisbury Saluda Sandy Ridge Sanford Scotland Neck Seaboard Seagrove Selma Seven Lakes Shallotte Shelby Sherrills Ford Siler City Smithfield Sneads Ferry Snow Hill Southern Pines Southern Shores Southport Sparta Spindale Spring Hope Spring Lake Springs Spruce Pine St Pauls Stallings Stanfield Stanley Stantonsburg Star Statesville Stedman Stokes Stony Point Sugar Mountain Summerfield Sunset Beach Supply Surf City Swannanoa Swanquarter Swansboro Sylva Tabor City Tar Heel Tarboro Taylorsville Teachey Terrell Thomasville Traphill Trenton Troutman Troy Tryon Union Grove Valdese Vanceboro Vass Wadesboro Wagram Wake Forest Walkertown Wallace Walnut Cove Walstonburg Warrenton Warsaw Washington Waxhaw Waynesville Weaverville Weddington Wendell Wesley Chapel West End West Jefferson Whitakers Whiteville Whitsett Whittier Wilkesboro Williamston Wilmington Wilson Windsor Winnabow Winston Salem Winterville Winton Wrightsville Beach Yadkinville Yanceyville Youngsville Zebulon