Missouri Cash Advance Regulations

Missouri (MO) allows its residents to take payday loans of up to $500. Borrowers have between 14 and 31 days to pay back their cash advance. State laws don’t specify a minimum loan amount, leaving it to the lenders’ discretion. The total sum of interest and fees cannot exceed 75% of the initial loan amount.

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The payday lending industry operates under the Mo. Rev. Stat. 408.500 et seq. ; 4 Mo. Code Regs. 140-11.010, 140-11.020. Due to the legal status payday loans have in Missouri, residents enjoy convenient terms. The loan amount is capped at $500, which can be repaid within a range from 14 to 31 days. State laws allow for six rollovers, which may be considered a privilege. However, a customer will have to lessen the loan principal by 5% prior to every renewal. Most states forbid rollovers, making it difficult for borrowers who may be struggling to pay back their debt. One person can only have one loan at a time.

Payday Loans Restrictions in Missouri

Terms Payday Loans Installment Loans Personal Loans
Law Status legal legal legal
Citation FINANCE CODE    
MIN amount none $1,000 $1,000
MAX amount $500 $5,000 $35,000
MIN term 14 days 90 days 90 days
MAX term 31 days 36 month 60 month
min APR   6.63% 4.99%
max APR can reach 1950%    
Extra fees Not stated    
Collection fees none    
Guarantor None, unsecured None, unsecured None, unsecured
Nr. of simultanous loans Not limited but no more than $500 from a lender    
cooling-off period None    
Rollover 5 rollovers    
Extension/repayment plan Not allowed    
Credit Score A for Bad Credit A for Bad Credit A for Bad Credit
Criminal action Prohibited Prohibited Prohibited

Missouri Finance History

Missouri relies mainly upon its industrial branches as the most profitable financial resource. Manufacturing Aerospace and transportation equipment are the most profitable directions, followed by food products, chemicals, printing industry, and electrical equipment. Agriculture is still an important part, bringing its contribution to the national GDP.


If $500 is not enough to cover for your emergency expenses, you have the option of applying for an installment payday loan. Borrowers can thus access funds up to $5,000, and repay their loan within a few months. Applicants may choose from flexible loan amounts. According to the most recent data, popular options among customers include $550, $600, $700, $750, $1,000, $1,500, $2,500, $3,000, $4,000, and $5,000. An installment payday loan follows the same application procedure as a payday loan. Direct lenders may have their own additional requirements applicable to this loan type.

Payday loans History

The first cash advance records date back to 1930. In 1998, the overly permissive laws empowered lenders to charge as much as they wanted on a payday loan. Consequently, interest rates went up, to the borrowers’ disadvantage. It wasn’t until 1998 that state authorities looked into the issue. However, their first attempts to redress the situation made it worse. In 2006, the state of Missouri adopted the Military Lending Act, which capped the annual interest rate for active-duty military and their families at 36%. In 2016, the Consumer Financial Protection Bureau suggested adopting new regulations under the Payday Loan Rule. The suggestions are still expecting to be implemented.

How Do Online Payday Loans Work in Missouri?

Missouri payday loans bring borrowers several benefits. Among the most obvious ones, it’s worth mentioning the convenient terms and all interest and fees capped at 75% maximum of the initial loan amount. The possibility to have six rollovers is a privilege not all states can guarantee their residents. Cash advances are easy to qualify for and pay back, making them the preferred loan type for average-income households in Missouri. When $500 makes a difference, direct lenders are the fastest route to a safe loan.

Some applicants may prefer in-store applications. If you know an office that operates near your house or workplace, it makes sense to get in and at least find out what your chances are. With face-to-face service, you will receive your answers on the spot. The main advantage when submitting an online application is that you can do so from anywhere, via a personal computer, laptop, tablet, or smartphone. The process is fast and paperless. Choosing the application process that is right for you is a matter of preference.

State restrictions, such as the loan amount and maximum fees, are set by authorities for two main reasons. First of all, the regulations protect borrowers from taking on more debt than they can afford to pay back. Secondly, the law controls the activity of payday lenders to ensure fair lending practices only on the state territory.

Payday Loans Requirements in Missouri

To qualify for a payday loan, an applicant must meet some basic requirements. First of all, they must be a US citizen or permanent citizen. Secondly, their age must be at least 18. Every candidate needs to have a recurring source of income, whether from a stable job or social benefits.

When applying for a loan in-store, you may need to bring paper documents or scanned papers. However, those won’t be necessary if you choose to submit your application online. Modern technology allows potential borrowers to use their smartphones to make digital scans for the lender.

Missouri cash advances are available for veterans and retirees alike. However, the active-duty military cannot apply for payday loans due to the Military Lending Act, valid on the territory of Missouri.

Missouri Cash Advances Rates and Terms

Missouri cash advances are a quick fix for urgent financial needs. Short-term loans take a few minutes to process and the lender transfers the loan amount directly into your checking account. That is why having an active bank account is one of the mandatory requirements when applying for a payday loan. Depositing the funds may take one business day, sometimes less and other times more. With your permission, the lender automatically withdraws their money from your account on the due date. That way, you prevent the unfortunate case of missing your payment. Keep in mind that Missouri state regulations allow for 6 rollovers. That is, if you realize you cannot pay your debt on time, contact your lender as soon as possible and ask for them to extend the loan term.

APR Example and Fee Schedule for Payday Loans Missouri

The APR on a Missouri payday loan may reach 443% or more. For a $100 that a borrower takes for 14 days at an APR of 652%, the total cost of the loan will be $25.08 without fees.

Loan principal Fee Amount to repay Term APR
$300 $18 $354 14 days 469.29%
$350 $18 $413 14 days 469.29%
$400 $18 $472 31 days 211.94%/
$450 $18 $531 31 days 211.94%
$500 $18 $590 14 days 469.29%

Regulator: Complaints & Information

For any irregularities regarding payday loans on the state territory, borrowers are free to seek assistance with the Missouri Division of Finance.

Address: Truman State Office Building, Room 630, Jefferson City, MO 65102

Phone: 573-751-3242

Fax: 573-751-9192

Payday Loans in Missouri for Unemployed People

Missouri payday loans are not restricted to people with steady jobs only. Some lenders accept alternative income sources from people on social or disability benefits, candidates on alimony, single mothers with a source of income other than a job, retired people, veterans, etc. Loan providers do ask for proof of income, regardless of its type. Besides, some of them will have a minimum threshold of $1,000 to even consider an application. While direct lenders don’t typically perform hard credit checks via the three main credit bureaus, they do look into your debt-to-income ratio. That is how they establish your creditworthiness and determine whether it’s safe for you to take a loan. If the situation doesn’t look very good, being rejected for a cash advance is a blessing in disguise. To pay off a loan, you need to have a stable income that guarantees your financial stability.

If the first lender you talked with told you that they only grant loans to people with steady jobs and recurring income, keep trying. Other lenders could accept your request. Or, better yet, apply online to access dozens of lenders at a time. You don’t have to worry about long conversations with different businesses and countless unsolicited emails. If you qualify, only the lender willing to work with you will get back with an offer.

Reasons to Choose Us

Applying for a Missouri cash advance via our website is, first of all, safe. We keep your data secure at no additional cost and do not share it with any third parties. When submitting your application, we distribute it within our network of direct lenders, thus increasing your chances of getting approved.


A payday loan, also known as a cash advance, is a short-term loan meant for small financial emergencies. Most payday loans are repaid on the borrower’s next payday. These loans have a high approval rate, which is why they are also called ‘guaranteed loans’

To receive your funds as fast as possible, we recommend you apply early in the morning. If your information goes through fast and you qualify, the lender will deposit your money into your bank account on the same day, maybe even in one hour. Timing is individual to each situation.

The easiest way to access a payday loan is by submitting a request online. Once you submit your application, you will have an almost instant loan decision.

Yes, state laws allow Missouri residents to take payday loans when they need to.

Yes, you may be approved for a payday loan, even with bad credit. Direct lenders don’t normally do a hard credit check when it comes to cash advances. Your score does not interest them as much as your income.

Anybody can apply for a payday loan, even if they don’t currently hold a steady job. If you have alternative income sources, some direct lenders may accept that.

Yes, cash advances are regulated by state laws. The activity of lenders is also monitored to ensure safe lending.

Missouri state regulations allow residents to apply for a maximum of $500 in cash advance.

Missouri state laws allow borrowers to have up to six rollovers. Contact your lender as soon as you realize that you cannot repay your debt on the agreed date and ask for a rollover.

Applying for a Missouri payday loan will not usually affect your credit score. Payday lenders don’t typically do a hard credit check through the three main bureaus, nor do they report to them. However, there may be exceptions.

You may use the loans you get as you see fit. A payday lender will not always ask you why you need the money. Keep in mind that the amount you can borrow is limited, and so is the term.

For the customers’ convenience, direct lenders ask for their permission to automatically withdraw the debt on the due date. That way you will not need to worry about missing your payment.

All States

Cash advances are often called “guaranteed loans.” The reason is the simple qualification process and ease of access, due to which more than 85% of applicants are approved. Payday loans are ideal for solving a small financial problem that cannot be postponed.

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