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Physical payday loan stores in Missouri must be licensed at the state level and are required to keep interest rates and fees below 26%. However, most payday loan companies choose not to operate within the state because state regulations make it difficult to remain profitable given the high percentage of loan defaults. Most residents of Missouri tend to utilize online payday loans from sites like Instant Payday Loans because they can obtain more than the $500 maximum allowed by Missouri.

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Q: Are online payday loans in Missouri legal?
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