$15% per $100 on face amount of check.
Minimum term of 14 days and a maximum term of 60 days. Maximum cash advance amount allowable is $500. Rollovers are prohibited.
For a thorough discussion of the payday loan industry and access to our payday loan training materials, we recommend you proceed to Payday and Paycheck Loans.com
KENTUCKY’S 400%+ PAYDAY LOANS.
Database shows that KY payday loan borrowers are indebted for 202 days a year on average. Kentucky payday lenders charge $15.00 per $100 borrowed, plus additional fees, every two weeks. This means payday loans carry at least a 391% APR.
A typical Kentucky payday borrower had 10 payday transactions, costing $562 in fees alone for a $330 loan.
90% of payday revenue is generated by borrowers with five or more loans a year.
More than 5,200 Kentuckians used one or more payday loans to solve their financial problem!
Kentucky Payday Loan Laws & Legislation State Information
Legal Status: Legal (Applies to check cashers only)
Address: 1025 Capital Center Drive, Suite 200 Frankfort KY 40601
Phone: (800) 223-2579
Fax: (502) 573-8787
Regulatory Contact: Gary Davis,, Branch Manager
Kentucky Check Cashers, Deferred Deposit and/or Payday Lenders
Complaint Form Link