An OppLoans Guide to Getting The Help You Need
St. Louis, the Gateway to the West is in many ways the quintessential American city. And as in many American cities, life in St. Louis can surprise you with a big expense like a car repair bill, a medical bill or loss of a job. And an unexpected financial hardship like this can make it hard to pay rent, make mortgage payments, or even feed your family. And if you have trouble getting a loan from a bank or you don’t have access to a credit card, a financial emergency can seem even more desperate. Fortunately though, there are organizations in St. Louis whose mission is to help people in difficult financial situations.
A dire financial situation can arise from low income or an unexpected but necessary home repair to something as serious as homelessness or addiction. St. Louis has tools and resources that exist solely to help people in their time of need regardless of the reason.
As in many American cities, people in St. Louis face foreclosure every day. And still more people have trouble finding housing that they can afford. There are lots of organizations that can help in the city. Below are some of St. Louis’ resources and organizations that can help with rent, foreclosure prevention and more:
St. Louis Housing Authority has voucher programs and offers housing assistance for low income families and individuals.
U.S. Department of Housing and Urban Development of Missouri offers information and counseling on getting rental help, avoiding foreclosure and more.
Sadly, homelessness is an issue that faces Americans everywhere. St. Louis is no different. But no one should have to go a night without shelter. If you are homeless or in danger of becoming homeless, there is help and you deserve that help. Below are some of the organizations in St. Louis that offer assistance to people facing homelessness in the form of shelter, food pantries and more:
FoodPantries.org has a list of food pantries and food kitchens in St. Louis.
The City of St. Louis provides a list of resources for those who are facing homelessness in the city.
The Women’s Safe House offers emergency shelter for women and families escaping domestically abusive situations.
Gambling is an addiction as serious as any, and though all addictions can take a toll on someone’s finances, gambling is an addiction that can be especially financially devastating. If you have a gambling problem, there are programs that can help. Below are some resources in St. Louis that specialize in helping problem gamblers:
Gamblers Anonymous offers meetings all over the country and hotlines to help with your addiction.
Gam-Anon provides information and help for the families and loved ones of problem gamblers.
Addiction is a disease that can ruin lives. Alcohol and substance abuse can damage not only your health, but also your relationships and even your finances. You can beat addiction with help from organizations that specialize in treating alcohol and substance abuse. Find the help you need now:
Alcoholics Anonymous has information on their site as well as a search function so that you can find a meeting near you in St. Louis.
Al-Anon of Missouri has meetings and support groups for the loved ones of people struggling with addiction.
Narcotics Anonymous of St. Louis has information and meetings for people struggling with substance abuse.
American military veterans are twice as likely to become homeless than Americans who have not served.(1) This statistic is upsetting, but fortunately there are organizations whose goal is to see an end to veteran homelessness. If you’re a veteran who is homeless or in danger of becoming homeless, or if you’re a veteran who is struggling with addiction or having trouble finding a job, there is help. Below are some resources that can help veterans get the assistance they deserve:
The St. Louis Regional Benefits Office assists veterans in applying for and receiving the benefits they deserve.
The St. Louis VA Health Care System provides a variety of health care benefits for the veterans of St. Louis.
The VA provides information about veterans’ benefits.
Sudden, unexpected financial emergencies happen for a variety of reasons. Like the loss of a job, a car accident or a sudden illness to name a few. In situations like these you need help making ends meet. Below are some programs that offer assistance paying bills, providing food for your family and more:
The Missouri Department of Social Services has the Temporary Assistance for Needy Families program that offers cash assistance to families in need.
The Missouri Department of Social Services also provides information on the SNAP program (Supplemental Nutrition Assistance Program).
There are many organizations that are dedicated to the needs of the senior citizens of St. Louis. Below are resources that provide information about assistance for the aging community of St. Louis:
The Missouri Aging Information Network offers programs designed to assist seniors with information on in-home care, social security assistance and more.
The Missouri Department of Health and Senior Services provide a comprehensive directory of programs available to assist seniors in St. Louis.
Perhaps you need cash and the reason isn’t listed above. You may decide that a loan is your best option. You can get a loan online or through storefront lenders all over the city. But many of these loans are unsafe. Rather than getting you out of debt, they might make your financial situation worse. Below are three types of loans that borrowers can take advantage of. But before you take out any kind of loan, it’s important to know the The Truth about Payday, Pawnshop, and Car Title Loans.
Payday loans promise to get you the cash you need quickly, but with risk and at a high cost. These loans are available online and also at storefronts. These are relatively small loans that you repay with your next paycheck. The lender will usually ask for a check in the amount due and post-date it for your next payday. These loans may be convenient but they mostly prey on people in low income communities.
The Payday Loan Consumer Information site provides facts and consumer help one should research before taking out a costly payday loan. Additionally, the site provides information on payday loan regulations for every state. In Missouri, the maximum you can borrow through a payday loan is $500 but lenders can charge as much as 1950% APR on a 14-day loan. They can also charge a $75 finance fee for a $100 loan.(2)
With rates and fees this high, it’s easy to see how people in Missouri get trapped in these loans. And payday lenders also make a profit by having customers “rollover” their loans. When a customer cannot pay back their loan when it’s due, the lender will extend the loan for an additional fee. This practice is illegal in many states. But in Missouri, rollover is allowed; a borrower can rollover their loan as many as six times in the state. 2
One risky option for fast cash in St. Louis is a title loan. In a title loan, a borrower gives the lender their car title as collateral. This means that if the borrower cannot make their payments, the lender is entitled to take their vehicle to keep or sell in order to recoup their money. This is what’s commonly referred to as “repossession“. The fact that these loans put the borrower’s car on the line makes title loans one of the riskiest ways to get a cash loan.
Unlike many other states, Missouri has very few regulations on title loans. There is no interest rate cap on these loans in the state, which means lenders will usually charge at least 300% APR. This translates to 25% interest per month. In addition, borrowers are allowed to rollover their title loans over twice.(3)
People in St. Louis are used to the sight of pawn shops. They’re all over the city. And a pawn shop is a great place to peruse the selection of VHS tapes and old electric guitars. But pawn shops also offer high-interest, short-term loans.
When you “pawn” an item, you hand it over to a pawn shop and in return, you receive a cash loan. You can pawn just about any household item of value. And you get a small cash loan that is a fraction of the pawned item’s actual worth. The loan, plus interest, is repaid at an agreed upon date. If you fail to repay, the pawn shop lender is then entitled to sell your item to make their money back.(4)
A pawn shop loan is an easy way to get cash fast, but you should be careful with these loans. They come with the risk of losing a valuable item. The maximum monthly interest rate for pawn shop loans is 2% in Missouri. But the additional fees that come with these loans are what make them costly.(5)
Though pawn shop interest rates are usually lower than payday and title loans, they can still be risky. Before you take out a pawn shop loan read some tips for buying and selling at a pawn shop. And learn more about the pros and cons of pawn shop loans.
If you need cash fast to help with a difficult financial situation, consider a personal installment loan from OppLoans. We provide cash loans in St. Louis for anywhere from $1,000 – $5,000 with rates that are usually 70-125% lower than other personal lenders. Repayment periods are anywhere from 6-36 months, so you’ll be able to find a loan that fits your budget. At OppLoans, we deliver fast and flexible five-star service.
OppLoans offers personal installment loans from $1,000 to $10,000 and the flexibility of paying them back over 6 to 36 months. We’ll work with you to provide affordable payment options that fit into your monthly budget. We will never charge prepayment, origination or application fees. In addition, our interest rates are usually 70-125% less than other personal loans.
For questions about OppLoans rates, terms, and eligibility contact the OppLoans Support Team by phone at 855-408-5000, Monday – Friday 7am to 7pm or Saturday 9am to 4pm central time. Or email us at firstname.lastname@example.org.
*OppLoans is not affiliated with any of the programs, services or organizations referenced on this page.
Need more to help you through a difficult financial situation? Opportunity Loans offers a range of cash loans in Missouri to suit different personal lending needs and help you get back on track.
Our goal is to provide the most flexible and affordable loan based on your personal financial needs. We will never charge a pre-payment penalty and your payment amount will always be fixed throughout the life of your loan. In addition, our loans never have origination or application fees. Of course, we also have to work within the boundaries of all applicable state and federal regulations.
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If you have questions or concerns about your loan, please contact the Opportunity Financial Customer Support Team by phone at (855) 408 5000, Monday-Friday, 7 a.m.- 7 p.m. Central Time, or by sending an email to: email@example.com. If we are unable to address your questions or concerns, you can also contact your state regulatory agency:
Missouri Division of Finance
Harry S. Truman State Office Building, Room 630
P.O. Box 716
Jefferson City, Missouri 65102
CA residents: Opportunity Financial, LLC is licensed by the Commissioner of Business Oversight (California Finance Lenders License No. 603 K647).
DE residents: Opportunity Financial, LLC is licensed by the Delaware State Bank Commissioner, License No. 013016, expiring December 31, 2016.
OH & TX residents: Opportunity Financial, LLC is a Credit Services Organization/Credit Access Business that arranges loans issued by a third-party lender. Ohio Credit Services Organization Certificate of Registration No. CS.900195.000.
* Based on customer service ratings on Google and Facebook. Testimonials reflect the individual's opinion and may not be illustrative of all individual experiences with Opportunity Loans.
** Approval may take longer if additional verification documents are requested. Not all loan requests are approved. Approval and loan terms vary based on credit determination and state law. Applications processed and approved before 7:30 p.m. ET Monday-Friday are typically funded the next business day.
Rates and terms vary by state. An example of an OppLoan is $1,000 with 12 bi-weekly payments of $72, and an APR of 99%.