Best Loans In Kansas, Payday, Auto Title Laws 2019 - Elite Personal Finance
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Best Loans In Kansas, Payday, Auto Title Laws 2019

EPF October 20, 2019
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According to Chapter 16a-2-401 of Kansas’ Uniform Consumer Credit Code, closed-end installment loans – excluding mortgages – have APR-caps of 36% for loans of $860 or less and 21% for loans greater than $860. The maximum loan amount is $25,000 and prepaid finance charges are limited to the lessor of 2% of the outstanding balance or $100.

Licensed lenders can also levy a delinquency charge – after the loan is 10 days past due – of 5% of the outstanding balance or $25, whichever is less. However, the charge can only be administered once, regardless of how long the loan is in default.

Other allowable charges include:

  • Fees and taxes
  • Insurance costs
  • A bad check charge of no more than $30

Best Bad Credit Loans In Kansas

Lender:Min Credit Score:Loan Amount:APR:Licensed in Kansas:
BadCreditLoans0$500 – $5,0005.99% – 35.99%Not a direct lender
CashUSA0$500 – $5,0005.99% – 35.99%Not a direct lender
Opploans0$1,000 – $4,00099% – 199%Yes*
PersonalLoans580$1,000 – $35,0005.99% – 35.99%Not a direct lender

*Opploans only offers lines of credit in Kansas

If you’re struggling to find the right lender, read our complete guide on bad credit loans.

Best Personal Loans for Good Credit In Kansas

Lender:Min Credit Score:Loan Amount:APR:Licensed in Kansas:
Prosper640$2,000 – $40,0006.95% – 35.99%Yes
Payoff640$5,000 – $35,0005.99% – 24.99%Yes
PersonalLoans580$1,000 – $35,0005.99% – 35.99%Not a direct lender
LendingTree500$1,000 – $35,0003.99% – 35.99%Yes

To see what other great lenders have to offer, check out our full list of recommended lenders. We also recommend SuperMoney. It’s one of the best loan comparison sites.

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Payday Loans in Kansas

Maximum Loan Amount: $500

Minimum Loan Term: 7 days

Maximum Loan Term: 30 days

Maximum Fee: $15% of the outstanding balance

Maximum APR: Averages 391%

Rollovers: Prohibited

Loan Limit: You can only have two payday loans at a time

Payday loans are legal in Kansas.

Chapter 16a-2-404 requires licensed lenders to cap loan amounts at $500 and finance charges cannot exceed 15% of the amount advanced. Borrowers are limited to two payday loans at a time and licensed lenders are prohibited from making three payday loans to the same borrower within a 30-calendar-day period.

Licensed lenders are also required to keep track of each loan transaction and document the following information:

  • The name, address and telephone number of each borrower
  • The date the loan is made and the date the loan is due

As well, finalized loan documents must include – in no less than 10-point bold face font – the following disclosure:

  • NOTICE TO BORROWER: KANSAS LAW PROHIBITS THIS LENDER AND THEIR RELATED INTEREST FROM HAVING MORE THAN TWO LOANS OUTSTANDING TO YOU AT ANY ONE TIME. A LENDER CANNOT DIVIDE THE AMOUNT YOU WANT TO BORROW INTO MULTIPLE LOANS IN ORDER TO INCREASE THE FEES YOU PAY.

Before a payday loan is finalized, licensed lenders must also provide the preceding information in both English and Spanish – when necessary – so terms are laid out in the borrower’s preferred language.

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Car Title Loans in Kansas

Car title loans are legal in Kansas.

Loans are characterized as ‘open-end lines of credit,’ so there is no maximum loan amount or maximum APR. However, terms are capped at 30 days.

Alternative Payday Loans In Kansas

As an alternative lender that’s licensed in Kansas, Opploans offers lines of credit to consumers across the state.

Typical terms are as follows:

  • Origination Fee: 2% of the loan amount
  • APR: Approximately 160%
  • Minimum Payment: 4% for monthly loan payments and 9% for bi-weekly or semi-monthly loan payments
  • Late Payment Charge: No more than 5% of the unpaid balance of the minimum payment

Credit Unions In Kansas

Name:APR:Amount:
Credit Union of America6.99%+$2,500+
Mazuma Credit Union10.44%+Up to $40,000

Credit Union of America

At Credit Union of America, you have four unsecured loan options to choose from:

  • Signature Loans are organized in two tiers. For loans of less than $2,500, APRs are as low as 9.00% and terms extend up to 36 months. For loans of $2,500 or more, APRs are as low as 8.50% and terms also extend up to 36 months.
  • Guaranteed Teacher Loans are designed for full-time teachers in Kansas. To qualify, you need to show a copy of your full-time teaching contract, status as an educator in Kansas and allow payroll deductions for loan repayments. You can borrow up to $1,500, terms extend up to 12 months and APRs are as low as 6.99%. However, the rate includes a 5.00% discount for using a CUA checking account with direct deposit; as well, members are only allowed one loan at a time.
  • Healthcare Professional Loans allow you to borrow up to $1,500 and APRs are as low as 6.99%. Terms extend up to 12 months.
  • Laptop Loans are designed specifically for students. You can borrow up to $2,500 and terms extend up to 24 months. APRs are as low as 0.00%, but a co-signer is required for borrowers under the age of 18. To qualify, you need to show a valid student ID, proof of purchase and have approved credit. As well, laptop loans are limited to one per member.

Credit Union of America operates 14 branches across Kansas, with locations in Wichita, Derby, Goddard, Hutchinson as well as others.

Mazuma Credit Union

Mazuma Credit Union offers personal loans of up to $40,000. APRs are as low as 10.44% and terms extend up to 60 months. The non-profit credit union also has a simple, no-hassle application process and loans can be used for nearly any reason.

Mazuma Credit Union operates 2 branches in Kansas, with locations in Overland Park and Olathe.

Student Loans In Kansas

Kansas Comprehensive Grant

The Kansas Comprehensive Grant is a needs-based scholarship, open to students who enroll full-time at one of Kansas’ 18 private colleges/universities, 6 state universities or Washburn University.

To qualify, you must submit a FAFSA application and list at least one of the eligible institutions. One in three students are granted funding, with awards ranging from $200 to $3,500 for those attending private institutions and $100 to $1,500 for those attending public institutions.

The application deadline is April 1.

Federal Housing Administration (FHA) Loans In Kansas

There are 105 counties in Kansas where residents can apply for FHA loans. The lowest loan amount of $314,827 is available in 100 counties, while the highest loan amount of $648,000 is available in 5 counties.

County:Lowest FHA Loan Amount:Highest FHA Loan Amount:
Allen County$314,827$605,525
Anderson County$314,827$605,525
Atchison County$314,827$605,525
Barber County$314,827$605,525
Barton County$314,827$605,525
Bourbon County$314,827$605,525
Brown County$314,827$605,525
Butler County$314,827$605,525
Chase County$314,827$605,525
Chautauqua County$314,827$605,525
Cherokee County$314,827$605,525
Cheyenne County$314,827$605,525
Clark County$314,827$605,525
Cloud County$314,827$605,525
Coffey County$314,827$605,525
Comanche County$314,827$605,525
Cowley County$314,827$605,525
Crawford County$314,827$605,525
Decatur County$314,827$605,525
Dickinson County$314,827$605,525
Doniphan County$314,827$605,525
Douglas County$314,827$605,525
Edwards County$314,827$605,525
Elk County$314,827$605,525
Ellis County$314,827$605,525
Ellsworth County$314,827$605,525
Finney County$314,827$605,525
Ford County$314,827$605,525
Franklin County$314,827$605,525
Geary County$314,827$605,525
Grove County$314,827$605,525
Graham County$314,827$605,525
Grant County$314,827$605,525
Gray County$314,827$605,525
Greeley County$314,827$605,525
Greenwood County$314,827$605,525
Hamilton County$314,827$605,525
Harper County$314,827$605,525
Harvey County$314,827$605,525
Haskell County$314,827$605,525
Hodgeman County$314,827$605,525
Jackson County$314,827$605,525
Jefferson County$314,827$605,525
Jewell County$314,827$605,525
Kearny County$314,827$605,525
Kingsman County$314,827$605,525
Kiowa County$314,827$605,525
Labette County$314,827$605,525
Lane County$314,827$605,525
Lincoln County$314,827$605,525
Logan County$314,827$605,525
Lyon County$314,827$605,525
Marion County$314,827$605,525
Marshall County$314,827$605,525
Mcpherson County$314,827$605,525
Meade County$314,827$605,525
Mitchell County$314,827$605,525
Montgomery County$314,827$605,525
Morris County$314,827$605,525
Morton County$314,827$605,525
Nemaha County$314,827$605,525
Neosho County$314,827$605,525
Ness County$314,827$605,525
Norton County$314,827$605,525
Osage County$314,827$605,525
Osborne County$314,827$605,525
Ottawa County$314,827$605,525
Pawnee County$314,827$605,525
Phillips County$314,827$605,525
Pottawatomie County$314,827$605,525
Pratt County$314,827$605,525
Rawlins County$314,827$605,525
Reno County$314,827$605,525
Republic County$314,827$605,525
Rice County$314,827$605,525
Riley County$314,827$605,525
Rooks County$314,827$605,525
Rush County$314,827$605,525
Russell County$314,827$605,525
Saline County$314,827$605,525
Scott County$314,827$605,525
Sedgwick County$314,827$605,525
Seward County$314,827$605,525
Shawnee County$314,827$605,525
Sheridan County$314,827$605,525
Sherman County$314,827$605,525
Smith County$314,827$605,525
Stafford County$314,827$605,525
Stanton County$314,827$605,525
Stevens County$314,827$605,525
Sumner County$314,827$605,525
Thomas County$314,827$605,525
Trego County$314,827$605,525
Wabaunsee County$314,827$605,525
Wallace County$314,827$605,525
Washington County$314,827$605,525
Wichita County$314,827$605,525
Wilson County$314,827$605,525
Woodson County$314,827$605,525
Johnson County$336,950$648,000
Leavenworth County$336,950$648,000
Linn County$336,950$648,000
Miami County$336,950$648,000
Wyandotte County$336,950$648,000

Business Loans in Kansas

If you need a business loan today, the online lenders below offer fast and convenient service:

Lender:Min Credit Score:Loan Amount:APR:Licensed in Kansas:
LendingClub630Up to $500,0009.77% – 35.98%Yes
LendingTree500Varies5.99% – 35.99%Yes
Kabbage0Up to $250,00024% – 99%Not a direct lender

However, if you prefer to consult with a lender located in Kansas, consider Strategic Capital:

Strategic Capital

Founded in 2014, Strategic Capital is headquartered in Kansas and offers financing solutions for nearly every business need.

  • Term Loans allow you to borrow up to $1 million, with APRs as low as 5.49%. Terms range from 1 to 5 years and funding normally arrives in 4 to 7 business days. To qualify, you must be in business for at least 2 years, generate at least $20,000 in monthly revenue and have a personal credit score of at least 650.
  • Lines of Credit allow you to borrow up to $250,000 and APRs are as low as 7.99%. Terms range from 6 to 18 months and funds usually arrive in 2 to 3 business days. To qualify, you must be in business for at least 6 months, generate at least $20,000 in monthly revenue and have a personal credit score of at least 620.
  • A Business Cash Advance allows you to borrow up to $1 million, with finance charges of $0.12 to $0.45 per dollar borrowed. Terms range from 3 to 18 months and funds are available in 1 business day. To qualify, you must be in business for at least 6 months, generate at least $10,000 in monthly revenue and have a personal credit score of at least 500.
  • Invoice Factoring Loans allow you to borrow up to $5 million and finance charges start at $0.25% per week. Terms extend up to 120 days (or more) and funds are available in 5 to 10 business days. To qualify, you must be in business for at least 6 months, generate at least $40,000 in monthly revenue and have a personal credit score of at least 530.

To learn more, you can visit Strategic Capital at: 10551 Barkley St. Suite 403, Overland Park, KS 66212. You can also email them at info@capitalwithstrategy.com.

Conclusion

In Kansas, the Uniform Consumer Credit Code requires licensed lenders to cap installment loan APRs at 36% for loans of $860 or less and 21% for loans greater than $860. Payday loans are legal in the state, with amounts capped at $500 and APRs averaging 391%. However, licensed lenders are required to keep a detailed journal of outstanding borrowers and provide written disclosures in either English or Spanish – whichever the borrower prefers. And while car title loans are also legal in Kansas, there is no maximum loan amount or maximum APR. As ‘open-end lines of credit,’ these terms are determined by the borrower and the lender.

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