SPRINGFIELD, Mo. -

Quick cash might cause long term financial pain.  Payday and title loans are the easiest to get, but can be tough to pay off.

These small or speedy loan businesses are everywhere.  Missouri has about one payday or car-title lender for every 4,000 residents. They are not regulated and that might cost you more than you bargained for.

"It's not right what they are doing," said Calvin Davis.

Davis is disabled.  His wife is sick.  He needed help.

"My riding lawn mower was down and I needed repairs on my truck," he said.

He got a $1,200 loan with a 16 percent percent interest rate from Tower Loan. He made an early payment.

"They called me at home and said, 'Your credit rating is good and you are making your payments.  If you could use some more money, we could give you $500.'  I said OK," said Davis.

That additional cash comes with a big charge: a 65 percent interest rate.

"When they had me sign the loan papers, I believe the interest rate was not there.  I would not sign papers paying 65 percent. That's crazy," he said.

The extra $500 ends up costing him more than $900 in interest plus a $75 fee.

A KY3 reporter went to Tower Loan, hoping to get answers and was told managers can't discuss accounts.

What these businesses are doing is legal in Missouri. There was an effort by lawmakers in the last session of the Legislature to cap interest rates at 36 percent, but the bill died. Similar attempts also failed in several previous legislative sessions.

"Read and understand exactly what it is you're signing," said Judy Mills with the Better Business Bureau.

Consumer advocates say you should read the fine print and ask questions.

"If you don't understand it yourself, take it to someone that will be able to understand it and advise you," said Mills.

Workers with the Attorney General's office say they are receiving complaints about Tower Loan.  Tower Loan has a "C" rating by the Better Business Bureau.  It does not have accreditation with the BBB along with any other speedy loan business.