Online Payday Loans Missouri Bad Credit

Explore hassle-free access to online payday loans in Missouri, even with bad credit, through zaving's user-friendly platform and streamlined online application process.

Last updated by Zaving Editorial Team, on April 8th, 2024

Seeking online payday loans in Missouri with bad credit? zaving recognizes that financial challenges can happen to anyone. Our online platform offers a quick solution, allowing you to deal with unexpected emergencies quickly. With multiple lenders available, zaving can help you cope with immediate financial challenges confidently. Apply today through zaving's user-friendly platform and navigate financial gaps effectively.

What are online payday loans and can I get them in Missouri with bad credit?

Online payday loans serve as a digital alternative to traditional payday lending, providing a convenient platform for individuals to secure short-term, small-dollar loans. These loans are designed to address immediate financial needs, allowing borrowers to access funds quickly and efficiently through online platforms. In Missouri, individuals with bad credit can still explore online payday loan options.

Obtaining online payday loans in Missouri, even with a less-than-perfect credit history, is generally possible. Online lenders often consider various factors beyond credit scores when assessing eligibility. Factors such as income, employment status, and the ability to repay the loan play crucial roles in the approval process. While bad credit may not necessarily disqualify applicants, it's essential to be aware that online payday loans often come with higher costs, including elevated interest rates and fees.

Residents of Missouri, including those with bad credit, can access online payday loans by submitting applications through licensed online lenders. The online application process offers convenience and speed, with quick approval and potential direct deposit of funds into the borrower's bank account.

Before proceeding, individuals should carefully review the terms and conditions of online payday loans in Missouri. Understanding the associated fees, interest rates, and repayment terms is crucial for making informed decisions and ensuring responsible borrowing practices.

What are the rules for payday loans in Missouri?

Missouri stands out for its notably permissive payday loan regulations. Borrowers should take measured steps in understanding the specific terms governing these short-term financial solutions.

Key features of payday loans in Missouri are as follows:

  • Maximum loan amount: $500
  • Minimum loan term: 14 days
  • Maximum loan term: 31 days

Maximum APR:
Theoretical allowance of up to 75% of the initial principal balance, potentially resulting in a $75 charge for a $100 loan and an astronomical 1955% APR.

However, the practical average APR for payday loans in Missouri tends to be lower, around 500%.
A notable aspect of payday loans in the state is the option for renewals, allowing for up to six renewals.

However, this privilege comes with a unique condition:

Rollover condition: To qualify for each renewal, the borrower must actively reduce the principal amount by 5% before each renewal period.

For example, in a scenario where a borrower has a $500 payday loan with a 14-day term:

  • Renewal 1: Pay $25 to renew the loan, reducing the remaining principal to $475.
  • Renewal 2: Pay 5% of the reduced amount ($475), giving $451.25, and so forth.

Before proceeding with a payday loan in Missouri, it is imperative for individuals to be aware of the terms and cost implications. This understanding ensures that the loan aligns with their financial circumstances, empowering borrowers to make informed decisions about this particular short-term borrowing option.

What are the pros and cons of online payday loans in Missouri?

When considering an online payday loan in Missouri, it is important to have an understanding of the advantages and disadvantages of this financial option.


  • Convenience: Online payday loans in Missouri offer the convenience of applying and managing the entire loan process from the comfort of your home or anywhere with internet access.

  • Quick approval and funding: The online application process is typically faster, with quick approval and the possibility of funds being deposited into your bank account within a short time frame.

  • Accessible anytime: Online payday loan applications are accessible 24/7, allowing borrowers to apply at any time that suits their schedule.

  • Reduced documentation: Online payday loans often involve less paperwork compared to traditional loans, simplifying the application process.

  • Comparison shopping: Borrowers can easily compare rates and terms from different online lenders, enabling them to make more informed decisions.


  • High interest rates: Similar to in-store payday loans, online payday loans in Missouri can carry high-interest rates, potentially leading to substantial costs for borrowers.

  • Potential for scams: The online lending space may attract fraudulent entities, so borrowers should exercise caution and choose reputable lenders to avoid scams.

  • Privacy concerns: Online applications require the submission of personal and financial information, raising privacy concerns if the website lacks secure encryption measures.

  • Automatic withdrawals: Some online lenders may require automatic withdrawals from the borrower's bank account, which can lead to issues if not carefully monitored.

  • Limited regulation: The online payday lending industry may have less regulation compared to traditional storefront lenders, potentially leaving borrowers with fewer consumer protections.

Before considering an online payday loan in Missouri, borrowers should thoroughly research lenders, review terms and conditions, and ensure the chosen platform is secure and reputable.

More of your frequently asked questions about payday loans in Missouri

Can I take out multiple payday loans in Missouri?

In the state of Missouri, individuals can secure multiple payday loans, subject to specific constraints. The cumulative total of outstanding payday loans, inclusive of those from various lenders and their affiliates, is capped at $500 concurrently. This restriction persists even when dealing with loans from different lenders affiliated with one another, such as branches or partnered businesses. For instance, if a borrower currently holds a $300 loan from one lender and a $200 loan from an affiliated lender, obtaining further payday loans is prohibited until at least one of the existing loans is repaid. However, upon the complete repayment of a payday loan, borrowers are permitted to initiate a new loan. While there is no explicit prohibition against immediately acquiring a new loan after settling the previous one, it is essential to exercise caution and understand the associated costs and risks linked to frequent payday loans. Responsible borrowing is strongly advised.

What happens if I can't repay my payday loan in Missouri?

If you encounter difficulties repaying your payday loan in Missouri, it's essential to be aware of potential consequences. Late fees are a common occurrence, escalating the overall loan cost and making repayment more challenging. Missed payments may prompt the lender to transfer your debt to collections, negatively impacting your credit score and subjecting you to persistent calls and correspondence. In more serious cases, the lender may resort to legal action, potentially resulting in a lawsuit for the outstanding balance and the risk of wage garnishment. Proactively communicating with the lender is advised; explaining your situation might lead to the possibility of negotiating a repayment plan. Seeking assistance from a non-profit credit counseling agency is also a valuable option, providing free or low-cost advice to help you formulate an effective strategy for managing your debt.

Can I get a payday loan in Missouri if I'm unemployed?

Obtaining a payday loan in Missouri while unemployed can be challenging. Payday lenders typically require proof of a stable income to ensure repayment. While some may accept alternative income sources, such as government benefits or disability payments, being unemployed may limit your options. It's essential to check with individual lenders about their specific requirements and consider alternative financial assistance or budgeting strategies if unemployed to avoid potential challenges associated with payday loans.

What are some alternatives to payday loans in Missouri?

Numerous alternatives to payday loans exist in Missouri. Explore choices such as establishing an emergency savings fund, investigating credit unions for small-dollar loans, negotiating payment plans with creditors, and seeking assistance from government programs or nonprofit organizations for financial support. Additionally, consider personal installment loans, employer advances, peer-to-peer lending, and using credit card cash advances cautiously as more cost-effective options. Seeking advice from financial counseling services can also prove beneficial in making informed decisions to effectively manage financial challenges.