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Learn payday loan laws in Arizona and Arkansas

Arizona and Arkansas Payday Loan Laws

Updated on February 10, 2022

 Loan Laws

Considered one of the Seven Wonders of the Natural World, the Grand Canyon in Arizona is a great spot to take awe-inspiring photographs and appreciate the grandeur and sheer power of the natural forces that shape the Earth's landscape. Vacationing there may be fun, but if you run into any unexpected financial troubles and need emergency assistance, you should know that in the state, some types of payday loans are actually prohibited.

However, it is still possible to obtain a cash advance if you opt for an auto title loan. Although a 2005 statute disallowed the continuation of some payday lending businesses, there are more than 610 establishments operating in the state since 2005.

If you find yourself in Arkansas and are in need of a loan, the minimum amount you can take out is $400. You can also expect to pay 10 percent interest of the amount you borrowed in addition to a $10 fee by the end of the borrowing period.

Photograph of author Joseph Priebe

Joseph Priebe

Joseph Priebe takes pride in assisting audiences with his articles to help them make sound financial decisions.

With over ten years of experience writing financial content his goal at CASH 1 has always been creating engaging and easy-to-digest information for anyone searching for immediate or long-term monetary solutions.

When Joseph is not writing about personal finance, you can find him photographing the Southwest United States with his 4x5 Graflex Crown Graphic camera. He is based in Phoenix, Arizona.