Missouri Payday Loan Cash Advance Fees, Rates & Interest
Spotya! Loan Fee Calculator
Use the fields below to calculate the fees and rates for your payday loan.
Spotya! is happy to provide payday loans to the residents of Missouri. It is important to us to remain compliant with all federal and state laws governing the payday loan industry. Your Spotya payday loan agreement will be governed by the laws applicable in your state. In accordance with the Federal Truth In Lending Act, please review this page for our full disclosure of loans fees and the corresponding Annual Percentage Rate (APR).
Maximum Loan Amount
Total Fees for Missouri Payday Loans Cannot Exceed 75% of Initial Loan Amount
- Other Payday Loan Companies Charge $25.00-$40.00 per $100.00
Spotya Payday Loan Fee
- $20.00 per $100.00 (Please see APR above)
Our Loan Terms
Your Spotya! payday loan will be scheduled for repayment on your pay date within the next 15 to 30 days. We do not exceed 20 days loan periods unless you are only paid once per month. Verifiable payroll direct deposit to your checking account is required in order to approve your loan request.
Extensions or “Roll Overs”
In accordance with Spotya! company policy, you will have the option to extend your loan a maximum of 4 times before payment in full is required. A loan extension requires that you pay the original loan fee and contract with us for a new loan term whereupon an additional fee will apply.
Paydown Required with Extensions
Missouri state law requires that payday loan customers pay a minimum of 5% of your loan principal when doing an extension. This 5% “pay down” will be in addition to the loan fee that is also required on your original due date. By “paying down” your loan by 5%, your principal loan amount will be reduced and the fee paid on each subsequent renewal you request will also be reduced.
Governing Law Information
Missouri Division of Finance
Consumer Credit Section
P. O. Box 716 301 W. High Street Jefferson City MO 65102
Ph: (573) 751-3242