Payday Loans Barberton Ohio | Online Payday Loans Ohio
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Barberton is located in the Summit County in Ohio and was named after its founder, Ohio Columbus Barber who was an industrialist. He set up the city as a major manufacturing point for matchsticks and at one point there were about 250 Million matchsticks being manufactured every single day. The total population of the city is about 26,500. The city was nicknames as ‘The Magic City”. This was because of its quick rise in the late 19th century which was compared to magic. With the restructuring of the heavy industries in the 1980s, the economy of the region crashed and resulted in widespread unemployment. The situation has improved because of efforts by the local community development corporation which resulted in 2,000 new jobs.
If you are ever in need of some emergency cash, then the payday loans situation has improved a lot over the past two years with the new laws coming into place. Instead of triple digit APRs, the new law has capped the APR at 28% and interest and fees at 60%. You can only borrow a maximum of $1,000 for a maximum term of a year. Even the minimum repayment term has been increased to 91 days.