Lenders, other than banks, trust companies, credit unions, savings banks and savings and loan companies, in the business of making unsecured loans of five hundred dollars or less shall obtain a license from the director of the division of finance. An annual license fee of three hundred dollars per location shall be required. The license year shall commence on January first each year and the license fee may be prorated for expired months. The director may establish a biennial licensing arrangement but in no case shall the fees be payable for more than one year at a time. The provisions of this section shall not apply to pawnbroker loans, consumer credit loans as authorized under chapter 367, RSMo, nor to a check accepted and deposited or cashed by the payee business on the same or the following business day. The disclosures required by the federal Truth in Lending Act and regulation Z shall be provided on any loan, renewal or extension made pursuant to this section and the loan, renewal or extension documents shall be signed by the borrower. AboutPayday Loans offers short term cash advances to help you make ends meet when those situations arise and you find yourself a little short on cash. Our service is courteous and hassle free. We are not a bank. We are not here to judge and penalize you. We do not perform a standard credit check however, we do utilize various verification type services to help our staff process your application quickly. Your business is very important to us and we make sure that you are treated both fairly and with respect. We understand that there are certain times that require a little financial help. An unsecured loan instrument allows you to take care of those matters with dignity and confidentiality. We want you to feel that you are important to us and if at anytime you feel otherwise, please let us know.
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