Iowa Payday Loans

Currently, payday loans are legal in the state of Iowa. However, the state has very strict laws that regulate the payday loan industry. While most states require that a contract be given to potential borrowers that spell out the loan terms, Iowa takes it a step further. A contract given by a payday loan lender to a payday loan borrower must be presented in both English and Spanish, and must very clearly spell out the rights of the consumer. The contract that is given to the borrower must also provide a phone number to the regulatory office that governs payday loan companies in Iowa. Payday loan companies must also clearly state that the borrower will not be subject to criminal prosecution in the event that they are unable to pay back the loan. Conspicuous signage that says the same thing must be posted in the store.

Maximum Payday Loan Amount in Iowa

Payday lenders can lend up to $500 to borrowers.

Term and Rollover/Extensions

Payday loans must have a repayment term of 31 days. No rollovers or renewals of loans are permitted.

Maximum Interest Charged

Rather than use a percentage, lenders in Iowa are permitted to charge interest per $100. For a loan up to $100, the fee is $15. For any amount greater than $100, lenders are allowed to charge $10 per $100.

Bluffs Check Cashing Pawn and Loan
501 West South Omaha Bridge Road
Council Bluffs, IA 51501
American Payday Loans
3200 16th Avenue Southwest Suite A
Cedar Rapids, IA 52404
Check N' Go
4501 Southern Hills Drive Suite 23
Sioux City, IA 51106
The best part with Check N' Go is that Check N' Go is what they call a direct lender. Meaning, when anyone transacts with Check N' Go, this payday loan company will not share it to anyone and to any place of business. The information about their client is theirs alone. This is a great protection for their clients who only need cash and would not want any kind of hassle. Visit and do business with Check N' Go now.
Check Into Cash
5442 Blairs Forest Way Northeast
Cedar Rapids, IA 52402
American Check Casher
430 South 35th Street Suite 2
Council Bluffs, IA 51501
E Z Money Check Cashing
1419 Hamilton Boulevard Suite 2
Sioux City, IA 51103
Check 'n Go
5901 University Avenue Suite A
Cedar Falls, IA 50613
Check Into Cash
700 11th Street Southwest Suite 8
Spencer, IA 51301
Check Into Cash
1724 West Locust Street Suite 2
Davenport, IA 52804
Check Into Cash
2040 Edgewood Road Southwest
Cedar Rapids, IA 52404



Iowa Loan Statistics

Pay Schedule
Average Loan Average Age Weekly Bi-Weekly Monthly Twice Per Month Home Owner Renter
2012$5434114%47%21%18%35%65%
2011$5773814%56%17%13%32%68%
2010$5503915%50%21%14%38%62%