Cash Advance and Payday Loans in Baltimore, MD

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Getting an installment loan in Baltimore, MD can be a viable way to manage cash shortages and mitigate monthly expenses. Potential borrowers who are eligible and are able to properly manage a short-term loan can apply with an online lender to see if they qualify.

Advantages of Taking Out a Payday Loan in Baltimore

Consumers may choose to take out a personal loan to help with any number of monthly expenses or needs. These include:

Medical expenses, including insurance co-pays and money for prescription drugs and over-the-counter medications

  • Vacation expenses
  • Home improvements
  • Personal expenses
  • Business opportunities
  • Child-related expenses
  • Educational costs
  • Living expenses between paychecks

Further, self-employment is often a barrier to getting a conventional loan from a bank or credit union because traditional lenders require years of banking records, tax returns, business plans, and the like. While installment loan lenders may require similar information, applicants who do not have access to a bank or are self-employed may still be eligible to apply.

How to Get a Cash Advance and Payday Loan in Baltimore?

Residents of Baltimore are sometimes able to apply for a cash advance to help manage cash shortages between paydays. While short-term loans have been prohibited in the state of Baltimore since 2002 due to a 33% APR cap on small loans, residents can opt for a shorter-duration loan in the form of an installment loan. Unlike payday loans, installment loans are personal loans that can be paid back in increments over a specified period of time.

Baltimore residents can apply for an installment loan online through a computer or a mobile phone with internet access.

Cash Advance and Payday Loans Requirements

The application process can take as little as 15 minutes. Applicants will often need to provide the following information:

  • Proof of identity, age, and current address
  • Social Security number
  • Bank information or a loadable debit card
  • Employer and income information or information about alternative income sources

Online lenders can usually obtain all records and verifications electronically. Once applicants are approved, loans can be accessed within two to three business days, depending on the circumstances.

Lenders may consider an applicant’s credit score, credit history, and debt-to-income ratio when determining a potential borrower’s ability to meet loan terms. However, consumers with poor credit scores and histories are still eligible to apply.

Eligibility requirements may differ for applicants who receive an alternative form of income. Alternative forms of income may include:

Government benefits, such as Social Security, disability, VA benefits, welfare, and other entitlements

  • Royalties from intellectual property, such as trademarks, patents, and copyrights
  • Income from investments
  • Alimony and/or child support payments
  • Structured payments from trust funds

Applicants who fall under any of the above categories may still be required to provide documentation of their income, including payment dates and amounts.

Costs and Regulations of Cash Advance and Payday Loans in Baltimore, MD

Meeting loan terms can prove difficult to consumers with poor personal finance management. Due to the high-interest rates and steep rollover fees that often come with short-term loans, borrowers can be at risk of falling into a debt trap. Annual percentage rates can be as high for such loans, in some cases.

Payday lending is prohibited in the state of Maryland to protect residents from such predatory lending practices. Maryland’s consumer loan act (Md. Code Com. Law § 12-101 et seq.) asserts that any lender practicing in the state that does not abide by the APR cap is in violation of the law and may be subject to criminal penalties. Baltimore residents should remain up to date on their state’s rules and regulations regarding short-term lending.

Under the Federal Truth and Lending Act, lenders must disclose:

  • The finance charge in a specified dollar amount
  • APR
  • cost of the loan

Before you sign a loan agreement, be sure that the lender has provided all of this information in writing.

The maximum legal interest rate for the first $1,000 of a loan that is $2,000 or less is 2.75% per month or 33% annually.

The remaining $1,000 of a loan that is $2,000 or less cannot exceed 2% per month or 24% annually. The maximum legal interest rate for loans greater than $2,000 is 2% per month or 24% annually.

Installment Loans in Baltimore

Getting an installment loan in Baltimore, MD can be a viable way to manage cash shortages and mitigate monthly expenses. Potential borrowers who are eligible and are able to properly manage a short-term loan might be able to apply with an online lender to see if they qualify. These loans are often used by borrowers who need emergency funds.

Unlike payday loans, installment loans are designed to be repaid in fixed monthly amounts. Compared to payday loans, installment loans may have a lower APR but longer repayment periods.

Baltimore residents can apply for loans of $1,000 to $5,000. The loan term can be anywhere from 90 days to 36 months. APR ranges from 5.00% to 35.89%.

Requesting Title Loans in Baltimore

Another form of short-term loan is title loans. Title loans require collateral to secure the loan and are often a good option for those with bad credit. This is because attaching collateral to the loan lowers the risk lenders take by approving a borrower who may default. These types of loans are also called car title loans because borrowers commonly use their vehicles as collateral.

In order to qualify for a title loan, you may need to:

  • Own a paid-off or nearly paid-off vehicle and have proof of ownership
  • Be employed and/or have a verifiable source of income
  • Proof of residency
  • Valid government-issued identification
  • Provide the hard copy of the vehicle title

Requirements vary by lender. Before offering a loan amount, the lender will appraise the vehicle offered as collateral. The amount offered will depend on the value of the vehicle.

Favorite Baltimore, MD, Cash Advance and Payday Loan Companies

ACE Cash Express is a top-rated lender with storefront locations spread throughout the Baltimore area. They offer payday loans, installment loans, prepaid cards, check cashing, title loans, and more. You can reach their customer service line at 866-ACE-CASH or visit their website at acecashexpress.com.

Company name
Address
Phone
A & B Check Cashing
3107 West North Avenue Baltimore MD, 21216
410-945-0768
A & B Check Cashing
2509 East Monument Street Baltimore MD, 21205
410-276-5666
A & B Check Cashing
3801 Eastern Avenue Baltimore MD, 21224
410-276-2133
A & B Check Cashing
2439 Frederick Avenue Baltimore MD, 21223
410-362-9500
A & B Check Cashing
1221 West Baltimore Street Baltimore MD, 21223
410-837-8820
A & B Check Cashing
5700 Wabash Avenue Baltimore MD, 21215
410-764-8888
A & B Check Cashing
409 West Baltimore Street Baltimore MD, 21201
410-605-0902
A & B Check Cashing
6836 Reisterstown Road Baltimore MD, 21215
410-585-1773
A & B Check Cashing
106 North Howard Street Baltimore MD, 21201
410-539-6376
A & B Check Cashing
Baltimore Baltimore MD, 21201
410-525-3923
A & B Check Cashing
717 Washington Boulevard Baltimore MD, 21230
410-468-2966
A & B Check Cashing
5830 Hillen Road Baltimore MD, 21239
410-464-2300
A & B Check Cashing
2706 Pulaski Highway Baltimore MD, 21224
410-342-0080
A & B CHECK CASHING
2101 E Monument St Baltimore MD, 21205
410-276-2955
A Cash
5119 Park Heights Av Baltimore MD, 21240
410-542-2274
A Champion Pawn Brokers
5509 Harford Rd Baltimore MD, 21214
410-254-1110
A Champion Pawnbrokers Inc
Baltimore Baltimore MD, 21201
410-254-1110
A&B Check Cashing
3107 West North Av Baltimore MD, 21216
410-945-0768
A&B Check Cashing
1700 Pennsylvania Av Baltimore MD, 21240
410-225-2750
AA STATE CHECK CASHING
225 N Eutaw St Baltimore MD, 21201
410-298-6664
Aa State Income Tax Service
5461 Park Heights Avenue Baltimore MD, 21215
410-664-7883
Aa State Income Tax Service
54161 Park Heights Avenue Baltimore MD, 21201
410-664-7883
Ace Cash Express Inc
407 W Baltimore St Baltimore MD, 21201
410-332-0632
Ace Cash Express Inc
5900 Pulaski Hwy Baltimore MD, 21205
410-485-2226
Ace Cash Express Inc
3441 Clifton Ave Ste 187A Baltimore MD, 21216
410-945-2243
Ace Cash Express Inc
428 E 33Rd St Baltimore MD, 21218
410-889-2274
Ace Cash Express Inc
3046 Greenmount Ave Baltimore MD, 21218
410-243-4466
Ace Cash Express Inc
1312 Eastern Blvd Baltimore MD, 21221
410-780-0001
Ace Cash Express Inc
5500 Sinclair Ln Baltimore MD, 21206
410-325-1514
Ace Cash Express Inc
5416 York Rd Baltimore MD, 21212
410-323-9118
Ace Cash Express Inc
1251 W Pratt St Ste A Baltimore MD, 21223
410-576-2496
Ace Cash Express Inc
200 N Highland Ave Baltimore MD, 21224
410-327-2024
Ace Cash Express Inc
719 Northpoint Blvd Baltimore MD, 21224
410-282-8146
Ace Currency Exchange
230 Park Avenue Baltimore MD, 21201
410-752-7452
Ace Currency Exchange Inc
230 Park Ave Baltimore MD, 21201
410-752-7451
Advance Cash Store
5119 Park Heights Ave Baltimore MD, 21215
410-542-2274
Allkinds Check Cashing Centers
222 North Eutaw Street Baltimore MD, 21201
410-685-2274
ALPHA GOLD EXCHANGE
2201 E Monument St Baltimore MD, 21205
410-563-1300
American Check Cashing
2819 Greenmount Ave Baltimore MD, 21218
410-889-1301
American Check Cashing
14 West North Avenue Baltimore MD, 21201
410-539-5402
American Check Cashing
2819 Greenmount Avenue Baltimore MD, 21218
410-889-1301
American Check Cashing
26 South Arlington Av Baltimore MD, 21240
410-539-0991
American Check Cashing
4576 Edmondson Av Baltimore MD, 21240
410-233-1725
AMERICAN CHECK CASHING
26 S Arlington Ave Baltimore MD, 21223
410-539-0991
American Eagle Money Center
2401 Liberty Heights Avenue Suite 103 Baltimore MD, 21215
410-523-9797
AMERICAN EAGLE MONEY CENTER
103 Metro Plz Baltimore MD, 21201
410-523-9797
AMERICAN EAGLE MONEY CENTER
2135 W Patapsco Ave Baltimore MD, 21230
410-525-3923
AMERICAS CASH EXPRESS
3441 Clifton Ave Baltimore MD, 21216
410-945-2234
AMERICAS CASH EXPRESS
8337 Sudley Rd Baltimore MD, 21201
410-530-0018
AMERICAS CASH EXPRESS
1251 W Pratt St Baltimore MD, 21223
410-576-2274
Any Kind Check Cashing
1600 W North Ave Baltimore MD, 21217
410-225-9616
Anykind Check Cashing
1600 West North Avenue Baltimore MD, 21217
410-225-9616
Awan Inc
1201 West Pratt Street Baltimore MD, 21223
410-837-7540
AWAN INC
1201 W Pratt St Baltimore MD, 21223
410-837-7540
BAILEYS SERVICE CENTER
1611 W North Ave Baltimore MD, 21217
410-728-8660
Baltimore Check Cashing Inc
819 East Fayette Street Baltimore MD, 21202
410-539-8700
Baltimore Service Center
2031 West Pratt Street Baltimore MD, 21223
410-947-0037
Baltimore Service Center
2335 East Monument Street Baltimore MD, 21205
410-534-2542
Baltimore Service Center
2339 East Monument Street Baltimore MD, 21205
410-522-2385
BALTIMORE SERVICE CENTER
2031 W Pratt St Baltimore MD, 21223
410-947-0037
Baltimore Service Center Inc
2339 E Monument St Baltimore MD, 21205
410-522-2385
Bernel Enterprises Inc
5119 Park Heights Ave Baltimore MD, 21215
410-367-3502
BOSS CASH INC
1700 Pennsylvania Ave Baltimore MD, 21217
410-225-9968
Boston Loan Ofc
426 West Baltimore Street Baltimore MD, 21201
410-837-0207
Broadway Pharmacy Inc
1645 East Baltimore Street Baltimore MD, 21231
410-563-2500
Cash Box
4127 Patterson Avenue Baltimore MD, 21215
410-764-6217
Cash Plus
7603 Harford Rd Baltimore MD, 21234
410-319-7700
CASH US
6609 Reisterstown Rd Baltimore MD, 21215
410-318-8467
CASH USA
2105 W Pratt St Baltimore MD, 21223
410-233-2274
Cater To You Care
3520 Rhom Rd Baltimore MD, 21207
410-265-1176
CHECK CASHING DEPOT
14 W North Ave Baltimore MD, 21201
410-539-5402
Checkpoint Check Cashing
2329 Harford Road Baltimore MD, 21218
410-563-5337
Checks & More
5658 Baltimore Nat Pike Baltimore MD, 21228
410-788-4004
Checks Cashed
3212 Washington Boulevard Baltimore MD, 21230
410-646-0151
Colleen Inc
5830 Hillen Rd Baltimore MD, 21239
410-464-2300
Colleen Inc
2706 Pulaski Hwy Baltimore MD, 21224
410-342-0080
Colleen Inc
6836 Reisterstown Rd Baltimore MD, 21215
410-585-1773
Dolfield Money Center
3545 Dolfield Ave Baltimore MD, 21215
410-367-1800
Dolfield Money Center
3545 Dolfield Avenue Baltimore MD, 21215
410-466-9800
DOLFIELD MONEY CENTR INC
3543 Dolfield Ave Baltimore MD, 21215
410-367-1800
Dollar Financial Group
14 West North Avenue Baltimore MD, 21201
410-752-9970
Electronic Funds & Technologies
4001 Grantly Road Baltimore MD, 21215
410-367-9766
Essex Ez Check Cashing Inc
8350 Eastern Ave Baltimore MD, 21224
410-282-5300
Express Check Cashing
1001 Greenmount Avenue Baltimore MD, 21202
410-385-1023
FAMILY FINANCIAL CENTERS
5708 Wabash Ave Baltimore MD, 21215
410-358-2274
Fast & Friendly Check Cashing
5114 Sinclair Lane Baltimore MD, 21206
410-325-2309
Fast & Friendly Check Cashing
Edmndsn Village Baltimore MD, 21201
410-945-2541
First East
Baltimore Baltimore MD, 21201
410-347-4705
Gaw Check Cashing Llc
225 N Eutaw St Baltimore MD, 21201
410-528-8808
GOLDS CHECK CASHING
3320 Sinclair Ln Baltimore MD, 21213
410-327-8300
GOLDS CHECK CASHING
10 W 22nd St Baltimore MD, 21218
410-235-4137
Halethorpe Check Cashing
4526 Washington Blvd Baltimore MD, 21227
410-242-6188
Herbs Place At Upton
1824 Pennsylvania Ave Baltimore MD, 21217
410-728-2844
HERITAGE CHECK CASHING
2159 W Patapsco Ave Baltimore MD, 21230
410-368-9280
HILLTOP CHECK CASHING
5427 Reisterstown Rd Baltimore MD, 21215
410-358-6700
Hilltop Check Cashing Co
5429 Reisterstown Rd Baltimore MD, 21215
410-358-6700
Hollinswood Check Cashing Service
2135 West Patapsco Avenue Baltimore MD, 21230
410-525-3923
Kreis Super Discounts
1400 West Baltimore Street Baltimore MD, 21223
410-233-4270
L & J Enterprises
1518 West Baltimore Street Baltimore MD, 21223
410-233-0788
L & J ENTERPRISES
1518 W Baltimore St Baltimore MD, 21223
410-233-0788
La Mexicana Express
2235 Eastern Av Baltimore MD, 21240
410-276-0713
LENNYS MONEY EXCHANGE
3133 W North Ave Baltimore MD, 21216
410-624-0106
Liberty Check Exchange Inc
2329 Harford Rd Baltimore MD, 21218
410-563-5337
M & J Discount Liquors
5500 Park Heights Avenue Baltimore MD, 21215
410-664-2702
M P G G LLC
14 W North Ave Baltimore MD, 21201
410-528-9360
Market Check Cashing
507 W Lexington St Baltimore MD, 21201
410-752-7516
Market Check Cashing
507 West Lexington Street Baltimore MD, 21201
410-752-7516
Mini Cash Inc
1407 E Fayette St Baltimore MD, 21231
410-675-5036
Mini Cash Inc
1407 East Fayette Street Baltimore MD, 21231
410-675-5036
Mobile Cash Express
Baltimore Baltimore MD, 21201
410-837-4460
Money Cash Corp
5429 Reisterstown Rd Baltimore MD, 21215
410-327-1110
Money Depot Llc
5160 Baltimore Nat Pike Baltimore MD, 21229
410-448-7480
National Automated Payment Systems
250 South President Street Suite 200 Baltimore MD, 21202
410-727-2274
New Garden Inn Limited
5511 Belair Road Baltimore MD, 21206
410-325-3711
NEW GARDEN INN LIMITED
5511belair Rd Baltimore MD, 21201
410-325-2711
NEW GARDEN INN LTD
5511 Belair Rd Baltimore MD, 21206
410-325-3711
Northwestern Loan & Pawnbroker
1701 Pennsylvania Avenue Baltimore MD, 21217
410-669-5454
NORTHWESTERN LOAN & PAWNBROKER
1701 Pennsylvania Ave Baltimore MD, 21217
410-669-5454
OCONNORS CHECK CASHING
4801 Eastern Ave Ste 1 Baltimore MD, 21224
410-633-2233
Onkod Inc
14 W North Ave Baltimore MD, 21201
410-539-5404
Opey Enterprise
1200 East North Av Baltimore MD, 21202
410-366-7500
Orveys Discount Liquors
801 E 25Th St Baltimore MD, 21218
410-243-5264
Park Heights Check Cashing
5461 Park Heights Av Baltimore MD, 21240
410-664-7883
PARK HTS CHK CASHING LLC
5461 Park Heights Ave Baltimore MD, 21215
410-664-7883
Paymaster
Baltimore Baltimore MD, 21201
410-243-3000
Paymaster Checkwriter Co
Baltimore Baltimore MD, 21201
410-962-0300
QUICK CASH INC
2439 Frederick Ave Baltimore MD, 21223
410-566-5444
QUICK CASH INC
4423 Old Frederick Rd Baltimore MD, 21229
410-566-5444
RB ENTERPRISE CHECK CASHING FA
4576 Edmondson Ave Baltimore MD, 21229
410-233-1725
Robert Cole
3517 Eastern Avenue Baltimore MD, 21224
410-342-0400
RUDIES CHECK CASHING
3107 W North Ave Baltimore MD, 21216
410-233-9730
Service General Baltimore Corp
501 South Broadway Baltimore MD, 21231
410-522-7355
SERVICE GENERAL BALTIMORE CORP
501 S Broadway Baltimore MD, 21231
410-522-7355
SOUTHWEST DISCOUNT LIQUORS
3212 Washington Blvd Baltimore MD, 21230
410-646-4616
Southwest Discount Liquors Inc
3212 Washington Boulevard Baltimore MD, 21230
410-646-4616
State Check Cashing Service
2830 S Hanover St Baltimore MD, 21225
410-354-7244
State Check Cashing Tax Svc
6968 Security Blvd Baltimore MD, 21244
410-298-6664
The Cash Bar
1501 Edison Highway Baltimore MD, 21213
410-327-1110
THE CASH BAR
1501 Edison Hwy Baltimore MD, 21213
410-327-1110
THE CASH BOX
4127 Patterson Ave Baltimore MD, 21215
410-764-6217
The Money Depot
5205 Windsor Mill Rd Baltimore MD, 21216
410-448-7480
Three Corns Enterprises Inc
1238 Scott St Baltimore MD, 21230
410-727-4845
UNION PROPERTIES INC
400 W Saratoga St Baltimore MD, 21201
410-685-7100
Westside Liquors
2413 Frederick Avenue Baltimore MD, 21223
410-945-0414
WESTSIDE LIQUORS
2413 Frederick Ave Baltimore MD, 21223
410-945-0414

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