Kernersville Personal Loan Terms and Rules in 2025

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North Carolina Kernersville

Kernersville Short-term Loans Terms

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

Trusted Personal Loan Lenders in Kernersville, NC

Discover our curated list of trusted personal loan lenders, committed to offering transparent and competitive lending solutions tailored to your needs, ensuring peace of mind and financial well-being.

Lender
User Ratings
Address
Phone
Category
Scott Cornelius, CPA, PC
User Raiting:
5.00
Address: 143 N Main St Suite 2, Kernersville, NC 27284
Phone: +1 (336) 904-0492
Category: Financial institution
Mortgage Financial Group
User Raiting:
5.00
Address: 251 N Main St, Kernersville, NC 27284
Category: Financial institution
Movement Mortgage- Dave Held NMLS#88989
User Raiting:
5.00
Address: 109- C, E Mountain St, Kernersville, NC 27284
Phone: +1 (336) 337-3210
Category: Financial institution
OneMain Financial
User Raiting:
4.40
Address: 120 Century Pl Blvd, Kernersville, NC 27284
Phone: +1 (336) 993-2661
Category: Loan agency
Lendmark Financial Services LLC
User Raiting:
4.30
Address: 960 S Main St Suite B, Kernersville, NC 27284
Phone: +1 (336) 996-3281
Category: Loan agency
State Employees’ Credit Union
User Raiting:
3.80
Address: 910 S Main St C, Kernersville, NC 27284
Phone: +1 (336) 993-7884
Category: Credit union
State Employees’ Credit Union
User Raiting:
3.40
Address: 789 Stafford Centre Dr, Kernersville, NC 27284
Phone: +1 (336) 992-1133
Category: Credit union
NORTH STATE ACCEPTANCE
User Raiting:
3.20
Address: 1261 D HWY 66 S, Kernersville, NC 27284
Phone: +1 (336) 993-8155
Category: Loan agency
First Horizon Bank
User Raiting:
3.00
Address: 1000 S Main St, Kernersville, NC 27284
Phone: +1 (336) 904-4026
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 Kernersville?

Explore safer, sustainable financial solutions beyond payday loans, emphasizing flexibility, reduced interest, and community support to foster financial stability and personal empowerment for vulnerable individuals.

Installment Loans Online

Installment loans allow borrowers to repay principal and interest in scheduled payments over a set period. Often available online, these loans cater to various financial needs with flexible terms.

Quick Cash Loans

Quick cash loans provide immediate funds for unexpected expenses. Typically short-term, these loans have higher interest rates, making them suitable for urgent financial situations.

Instant Title Loans

Instant title loans use your vehicle title as collateral. They offer fast approval but require timely repayment to avoid losing your asset, commonly attracting higher interest rates.

Emergency Loan Guaranteed

Emergency loan guaranteed solutions are designed for urgent, unforeseen expenses, often with guaranteed approval. These loans can have flexible terms but may come with higher rates and fees.

Payday Loans Online

Payday loans online provide small, short-term loans until your next paycheck. Accessible 24/7, they come with high fees and interest, encouraging cautious borrowing.

Fast P2P Loans

Fast P2P loans connect borrowers directly with lenders via online platforms, often offering lower interest rates. These peer-to-peer loans expedite funding for various needs.

Instant Debt Consolidation Loans

Instant debt consolidation loans combine multiple debts into one with a single payment, potentially lowering interest rates. These loans simplify repayment and can improve financial organization.

Bad Credit Loans No Credit Check

Bad credit loans no credit check cater to individuals with poor credit histories. They often have higher interest rates but provide essential financial resources without initial credit evaluations.

Requirements for Instant Cash Advance

  • Valid Identification: A government-issued ID is necessary to verify your identity.
  • Proof of Income: Recent pay stubs or bank statements to demonstrate financial stability.
  • Bank Account: An active bank account is required for the transfer of funds.
  • Contact Information: Provide a current phone number and email address.
  • Minimum Age: Applicants must be at least 18 years old.
  • Residency: Must be a resident of the area serviced by the NGO.

How to Use Personal Loans - Useful Resources

Explore essential resources on responsibly utilizing personal loans, understanding their benefits and risks, and making informed financial decisions to seamlessly manage short-term financial needs.

Industry
Address
Phone
Car Repair and Service
Address: 4327 Kernersville Road, Kernersville, NC 27284
Phone: +1 (336) 784-5613
Car Wash
Address: 507 Cinema Drive, Kernersville, NC 27284
Phone: +1 (336) 993-7777
Club & Association
Address: 1250 East Mountain Street, Kernersville, NC 27284
-
Consumer Electronics
Address: East Bodenhamer Street, Kernersville, NC 27284
Phone: +1 (336) 833-3855
Dentist
Address: 1405 North Carolina Highway 66 South, Kernersville, NC 27284
Phone: +1 (336) 992-5200
Fast Food
Address: 1180 South Main Street, Kernersville, NC 27284
Phone: +1 (336) 747-8371
Fitness Club & Center
Address: 610 Indeneer Drive, Kernersville, NC 27284
Phone: +1 (615) 939-2090
Hospital
Address: 510 Pineview Drive, Kernersville, NC 27284
Phone: +1 (336) 996-8410
Hotel
Address: Grays Land Court, Kernersville, NC 27284
Phone: +1 (336) 553-7960
Museum
Address: 132 West Mountain Street, Kernersville, NC 27284
Phone: +1 (336) 993-0818
Pharmacy
Address: 3015 Old Hollow Road, Kernersville, NC 27051
Phone: +1 (336) 595-2137
Rent-a-Car Facility
Address: 700 North Carolina Highway 66 South, Kernersville, NC 27284
Phone: +1 (336) 992-1007
Shopping Center
Address: Harmon Creek Road, Kernersville, NC 27284
Phone: +1 (336) 993-2400
Specialist
Address: 210 North Main Street, Kernersville, NC 27284
Phone: +1 (336) 992-9637
Veterinarian
Address: Kernersville, NC 27284
-

How to Get to Kernersville

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 Kernersville

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