Cash Advance and Payday Loans in Cleveland, OH

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Cash advances, commonly known as payday loans, are short-term, unsecured loans offered by private lending companies. Payday loans can range from $100 to $1,000 depending on state regulations. They tend to be short in term, small in amount, and high in interest. They are best suited for situations when consumers need less than $1,000 to tide them over until their next paycheck.

While responsible repayment may ensure the temporary financial relief does not lead to dire consequences, potential Cleveland borrowers should be aware of the steep fees and rollover charges that can come with payday loans. Annual percentage rates can be as high as 400% for a two-week loan, in some cases. And according to a 2016 report from the Center for Responsible Lending, payday interest rates in some states can cost as much as 662%, while the average APR for credit cards is 17.55%. 

Additionally, borrowers who cannot repay previous loans may often have to take out another short-term loan to pay for prior obligations, when permitted. This cycle may trap borrowers in debt. The CFPB reports that more than 80% of payday loans roll over, while 70% of borrowers were using their loans on recurring expenses rather than short-term emergency cash needs. Consumers must assess their financial situation to determine if a cash advance is the best course of action.

Residents can consider cutting down their expenses to generate more disposable income and save money, reducing the need for a loan or making it easier to repay debt. Some common strategies to save money include:

  • Planning meals more effectively to reduce waste and spending at restaurants
  • Opting for a staycation to take advantage of local Cleveland resources
  • Brown-bagging lunch to minimize expenses
  • Buying second-hand items
  • Borrowing books and videos from the local library
  • Canceling duplicate or underused services, such as landline phones, entertainment service subscriptions, or gym memberships
  • Entertaining guests at home

Advantages of Taking Out a Payday Loan in Cleveland

In today's economy, more and more Americans are unable to afford unforeseen cash needs. Four out of 10 U.S. adults are unable to pay for an unexpected $400 expense, according to a 2019 Federal Reserve report. Payday loans can help Cleveland, OH, residents who are unable to make ends meet between paychecks.

Payday loans can help Cleveland residents cover emergency financial needs. Short-term cash advances are sometimes also used for:

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

There are many reasons people take out payday loans as opposed to other types of loans. A significant advantage of payday loans is that they are often more readily available to those with bad credit than bank loans.

Before taking out a loan, it is essential to consider all of your options carefully. Be sure that you can repay the cost of a payday loan with interest on time to avoid debt traps.

How to Get a Cash Advance and Payday Loan in Cleveland

Cleveland residents who are 18 years or older can apply for a payday loan at a storefront lender, over the phone, or through an online form. The application process can take as little as 15 minutes.

Cleveland residents can sometimes improve the chance of approval by increasing their credit score, though pristine credit is usually not a strict requirement. Payday lenders tend to be less selective than traditional financial institutions.

Cash Advance and Payday Loans Requirements

Lenders will often require the following information and materials to apply:

  • Federal or state identification with current address
  • Employer information
  • Bank account information
  • Social Security number

Other requirements might be necessary, and requirements vary by lender. Lenders may consider an applicant's credit score and history as well as their debt-to-income ratio to determine their ability to repay a loan. Applicants who have alternative forms of income are also eligible to apply and may need to provide similar requirements to those highlighted above.

Alternative sources of income include but are not limited to:

  • Self-employment
  • Government benefits
  • Alimony
  • Child support
  • Royalties for intellectual property
  • Trust fund payments
  • Income from investments

Some lenders allow borrowers to write a postdated check for their loan amounts. In such cases, lenders may debit the borrower's bank account for the loan principal plus interest charges or request that borrowers make arrangements to pay off the loan with cash and reclaim the postdated check after.

Costs and Regulations of Cash Advance and Payday Loans in Cleveland, OH

In the State of Ohio, borrowers may not take out a cash advance of more than $1,000, and the interest rate for such loans must not exceed 28% per year. Borrowers have up to a year to pay back the loan in full.

The Short Term Loan Law, adopted by Ohio in 2018, states that monthly maintenance fees cannot exceed 10% of the loan amount, or $30. The law permits a loan origination fee of 2% for loans of $500 or more. This fee cannot be added to loans with interest. Lenders cannot offer loans that come with a $2,500+ charge in interest. Lenders refinancing a loan are prohibited from charging additional maintenance fees.

Borrowers may not have an outstanding loan balance when applying for a loan. In other words, Cleveland residents can only take out one loan at a time. By law, borrowers can cancel a loan contract up to 3 days after signing an agreement.

To avoid financial exploitation, it's vital to do the proper research and be familiar with your state's lending laws and protections. Cleveland residents should understand the rules and regulations associated with payday lending in Ohio.

Installment Loans in Cleveland

Installment loans are another form of short-term borrowing. These loans are repaid in monthly installments as opposed to one lump sum. Installment loans are often offered to consumers borrowing a large amount of money.

Along with payday loans, installment loans are legal in Cleveland. The law does, however, limit how high a monthly payment can be. The amount owed in each monthly installment is based on income. Interest rates are capped at 28%.

Requesting Title Loans in Cleveland

Title loans are another type of short-term loan available to some Cleveland residents. Because title loans are guaranteed with vehicular collateral in the form of a car, truck, or motorcycle, they are a viable option for those with a poor credit history but who own assets. When applying for a title loan, the lender will evaluate your vehicle and offer you a loan amount based on the vehicle’s value.

To qualify for a title loan in Cleveland, you may need to have:

  • Proof of residence
  • Proof of ownership of a lien-free vehicle, including the hard copy of the vehicle’s title
  • A stable source of income
  • A government-issued identification card or passport

Requirements vary by lender.

Favorite Cleveland, OH, Cash Advance and Payday Loan Companies

There are nearly 20 payday lender storefront locations in Cleveland. ACE Cash Express, Advance America, and Check ‘n’ Go are all top-rated lenders.

ACE Cash Express has several locations in Cleveland, most of which are accessible by public transportation. In addition to payday lending, ACE offers installment loans, check cashing, and Visa prepaid debit cards.

Advance America also has several locations in Cleveland, in addition to a website where consumers apply for a loan online. Advance America only offers payday loans.

Check’n’Go has a couple of locations in Cleveland, as well as a website that explains their services. You must apply in-store, but you can begin the application online to expedite the process. Like ACE Cash Express and Advance America, Check’n’Go offers payday loans, installment loans, check cashing, and prepaid debit cards.

Company name
Address
Phone
541 CASH
15620 Lake Shore Blvd Cleveland OH, 44110
216-531-2274
A 1 Quick Cash
13944 Cedar Road Cleveland OH, 44118
216-381-7889
Aaa Travel Agency - Insurance Agency District Offices, Parma Off
7917 Day Drive Cleveland OH, 44129
440-886-6130
Accessible E-Z Cash
14218 Euclid Avenue Cleveland OH, 44112
216-541-2245
Ace Americas Cash Express
10569 Saint Clair Ave Cleveland OH, 44108
216-851-8077
ACE CASH EXPRESS
10589 Saint Clair Ave Cleveland OH, 44108
216-851-8076
ACE CASH EXPRESS
4274 Fulton Rd Cleveland OH, 44144
216-661-1178
ACE CASH EXPRESS
14101 Kinsman Rd Cleveland OH, 44120
216-295-8135
ACE CASH EXPRESS
5613 Broadway Ave Cleveland OH, 44127
216-206-4871
ACE CASH EXPRESS
2525 E 55th St Cleveland OH, 44104
216-361-0603
ACE CASH EXPRESS
7310 Harvard Ave Cleveland OH, 44105
216-641-7614
ACE CASH EXPRESS
2079 W 25th St Cleveland OH, 44113
216-781-9995
ACE CASH EXPRESS
1499 E 55th St Cleveland OH, 44103
216-431-0500
ACE CASH EXPRESS
3712 Pearl Rd Cleveland OH, 44109
216-351-0300
ACE CASH EXPRESS
7123 Pearl Rd Ste 109 Cleveland OH, 44130
440-845-0038
ACE CASH EXPRESS
7470 Brookpark Rd Cleveland OH, 44129
216-398-8439
Ace Cash Express Inc
7148 Denison Ave Cleveland OH, 44102
216-631-3748
Ace Cash Express Inc
11411 Buckeye Rd Cleveland OH, 44104
216-791-4671
Ace Cash Express Inc
15500 Euclid Ave Cleveland OH, 44112
216-268-4100
Ace Cash Express Inc
3712 Pearl Rd Cleveland OH, 44109
216-351-0367
Ace Cash Express Inc
14002 Triskett Rd Cleveland OH, 44111
216-252-5351
Ace Cash Express Inc
1530 Hayden Ave Cleveland OH, 44112
216-249-2274
Ace Cash Express Inc
5498 Chester Ave Cleveland OH, 44103
216-881-2274
Ace Cash Express Inc
1409 E 9Th St Cleveland OH, 44114
216-348-0080
Ace Cash Express Inc
6277 Pearl Rd Ste D Cleveland OH, 44130
440-888-7643
Advance America
4767 Northfield Road Cleveland OH, 44128
216-587-9133
Advance America
6750 Biddulph Road Suite 102 Cleveland OH, 44144
216-739-9442
Advance America
4799 Turney Road Cleveland OH, 44125
216-441-0761
Advance America
1740 Snow Road Cleveland OH, 44134
216-351-7182
Advance America
21887 Lorain Road Cleveland OH, 44126
440-331-9267
ADVANCE AMERICA
6750 Biddulph Rd Ste 102 Cleveland OH, 44144
216-739-9442
ADVANCE AMERICA
4767 Northfield Rd Cleveland OH, 44128
216-587-9133
ADVANCE AMERICA
6240 Mayfield Rd Cleveland OH, 44124
440-646-9042
ADVANCE AMERICA
6440 Pearl Rd Cleveland OH, 44130
440-885-8724
ADVANCE AMERICA
21887 Lorain Rd Cleveland OH, 44126
440-331-9267
ADVANCE AMERICA
1740 Snow Rd Cleveland OH, 44134
216-351-7182
ADVANCE AMERICA
7470 Broadview Rd Cleveland OH, 44134
216-520-0518
ADVANCE AMERICA
13708 Lorain Ave Cleveland OH, 44111
216-941-5361
ADVANCE AMERICA
24682 Euclid Ave Cleveland OH, 44117
216-531-5233
Advance Pay Usa
4308 Ridge Road Cleveland OH, 44144
216-661-9801
Advance Pay Usa
4802 Turney Road Cleveland OH, 44125
216-429-9801
ADVANCE PAY USA
4802 Turney Rd Cleveland OH, 44125
216-429-9801
ADVANCE PAY USA
4308 Ridge Rd Cleveland OH, 44144
216-661-9801
ALL KIND CHECK CASHING
4626 Northfield Rd Cleveland OH, 44128
216-663-1926
American Cash Exchange
4575 Northfield Road Cleveland OH, 44128
216-663-8000
American Cash Exchange
14039 Lorain Avenue Cleveland OH, 44111
216-941-1212
American Cash Exchange
14300 Euclid Avenue Cleveland OH, 44112
216-761-1871
AMERICAN CASH EXCHANGE
14300 Euclid Ave Cleveland OH, 44112
216-761-1871
AMERICAN CASH EXCHANGE
893 E 200th St Cleveland OH, 44119
216-481-6622
AMERICAN CASH EXCHANGE
15875 Lake Shore Blvd Cleveland OH, 44110
216-481-3000
AMERICAN CASH EXCHANGE
14039 Lorain Ave Cleveland OH, 44111
216-941-1212
Browns Money Mart
5802 Storer Ave Cleveland OH, 44102
216-631-4923
Buckeye Check Cashing Inc
15726 Broadway Ave Cleveland OH, 44137
216-475-1580
CASH ADVANTEDGE
5857 Broadway Ave Cleveland OH, 44127
216-341-9302
CASH ADVANTEDGE
18235 Euclid Ave Cleveland OH, 44112
216-531-6954
CASH ADVANTEDGE
7981 Euclid Ave Cleveland OH, 44103
216-791-1200
CASH ADVANTEDGE
3991 Lee Rd Cleveland OH, 44128
216-752-6000
CASH ADVANTEDGE
13711 Lorain Ave Cleveland OH, 44111
216-251-3100
CASH CONNECTION
5347 Pearl Rd Cleveland OH, 44129
216-661-8523
Cash Now
6210 Brookpark Road Cleveland OH, 44129
216-739-0663
CASH POST
5721 Turney Rd Cleveland OH, 44125
216-662-9801
Cash Stop
18235 Euclid Avenue Cleveland OH, 44112
216-531-1574
CASH STOP
655 Prospect Ave E Cleveland OH, 44115
216-575-0010
Cashland
3681 W 105Th St Cleveland OH, 44111
216-252-6377
CASHLAND
22547 Lorain Rd Cleveland OH, 44126
440-716-9178
CASHLAND
12548 Rockside Rd Cleveland OH, 44125
216-581-4650
CASHLAND
18500 Lake Shore Blvd Cleveland OH, 44119
216-481-2168
CASHLAND
5750 Chevrolet Blvd Cleveland OH, 44130
440-842-0449
CASHSMART
3790 W 117th St Cleveland OH, 44111
216-251-4545
CHECK ADVANCE
12634 Rockside Rd Cleveland OH, 44125
216-332-9415
Check Cashing
9410 Lorain Avenue Cleveland OH, 44102
216-631-0060
Check Into Cash
13367 Smith Road Cleveland OH, 44130
440-845-4402
Check Into Cash
22061 Lorain Road Cleveland OH, 44126
440-779-2704
CHECK INTO CASH
2976 E Derbyshire Rd Cleveland OH, 44118
216-321-7845
CHECK INTO CASH
4798 W 130th St Apt W Cleveland OH, 44135
216-267-4055
CHECK INTO CASH
5406 Northfield Rd Cleveland OH, 44137
216-581-9164
Check Into Cash Of Ohio Llc
13367 Smith Rd Cleveland OH, 44130
440-845-4402
Check Into Cash Of Ohio Llc
1921 S Taylor Rd Unit 6 Cleveland OH, 44118
216-321-7845
Check Into Cash Of Ohio Llc
22061 Lorain Rd Cleveland OH, 44126
440-716-0434
Checksmart
7396 State Rd Cleveland OH, 44134
440-842-0333
Checksmart
2196 Brookpark Road Cleveland OH, 44134
216-351-3366
Checksmart
14033 Puritas Avenue Cleveland OH, 44135
216-941-6329
Checksmart
5066 Turney Road Cleveland OH, 44125
216-587-5631
Checksmart
7396 State Road Cleveland OH, 44134
440-842-0333
CHECKSMART
4263 Fulton Rd Cleveland OH, 44144
216-739-0837
CHECKSMART
6833 Broadway Ave Cleveland OH, 44105
216-206-2558
CHECKSMART
18235 Euclid Ave Cleveland OH, 44112
216-531-1574
CHECKSMART
4626 Northfield Rd Cleveland OH, 44128
216-663-8616
CHECKSMART
14033 Puritas Ave Cleveland OH, 44135
216-941-6329
CHECKSMART
5855 Mayfield Rd Cleveland OH, 44124
440-442-7345
CHECKSMART
2196 Brookpark Rd Cleveland OH, 44134
216-351-3366
Checkstar
21907 Emery Rd Cleveland OH, 44128
216-581-6788
CHECKSTAR
10211 Brookpark Rd Cleveland OH, 44130
216-362-8444
CHECKSTAR
16477 Broadway Ave Cleveland OH, 44137
216-475-8850
CHECKSTAR
21925 Emery Rd Cleveland OH, 44128
216-587-2181
Checkstar Payday Advance
21907 Emery Road Cleveland OH, 44128
216-581-6788
CLEVELAND CHECK CASHERS
13520 Euclid Ave Cleveland OH, 44112
216-451-7994
CLEVELAND CHECK CASHERS
4180 Pearl Rd Cleveland OH, 44109
216-335-9760
Collinwood Check Cashing Plus & General Mdse
1024 East 152Nd Street Cleveland OH, 44110
216-851-5107
CUYAHOGA COUNTY JAIL
1313 W 3rd St Cleveland OH, 44113
216-623-0771
Dennison Check Cashing
9109 Denison Avenue Cleveland OH, 44102
216-281-2818
DRUG WORLD CHECK CASHING SERVI
12201 Larchmere Blvd Cleveland OH, 44120
216-791-1111
E Z Exchange
7909 Superior Avenue Cleveland OH, 44103
216-391-2700
Enjoy Inc
4575 Northfield Rd Cleveland OH, 44128
216-663-8000
Express Payroll Advance
6895 W 130Th St Cleveland OH, 44130
440-842-0426
EXPRESS TAX PLACE
4338 Ridge Rd Cleveland OH, 44144
216-741-9822
EZ EXCHANGE
7909 Superior Ave Cleveland OH, 44103
216-391-2700
EZ ONE STOP
7828 Saint Clair Ave Cleveland OH, 44103
216-432-9890
F & E Paper Shredders
Cleveland Cleveland OH, 44102
330-253-4634
FAST CASH EXPRESS TAX PLACE
6491 Pearl Rd Cleveland OH, 44130
440-842-7400
FAST CASH EXPRESS TAX PLACE
7399 State Rd Cleveland OH, 44134
440-842-9577
FAST CASH OF AMERICA
4550 Warrensville Center Rd Cleveland OH, 44128
216-663-2310
Financial Exchange Co Of Oh
7911 Carnegie Ave Cleveland OH, 44103
216-229-2274
Financial Exchange Co Of Oh
3496 E 93Rd St Cleveland OH, 44104
216-429-2500
Financial Exchange Co Of Oh
10344 Saint Clair Ave Cleveland OH, 44108
216-451-2274
Financial Exchange Co Of Oh
2168 W 117Th St Cleveland OH, 44111
216-671-2274
Financial Exchange Co Of Oh
13895 Brookpark Rd Cleveland OH, 44142
216-267-6166
Financial Exchange Co Of Oh
3456 W 25Th St Cleveland OH, 44109
216-661-2274
Financial Exchange Co Of Oh
16370 Euclid Ave Cleveland OH, 44112
216-761-2274
Financial Exchange Co Of Oh
13221 Superior Ave Cleveland OH, 44112
216-249-7327
Financial Exchange Co Of Oh
510 W Superior Ave Cleveland OH, 44113
216-696-4879
Financial Exchange Co Of Oh
7311 Brookpark Rd Cleveland OH, 44129
216-351-1119
First American Cash Advance
16122 Lake Shore Blvd Cleveland OH, 44110
216-383-6660
Funding Advantage
10413 Joan Ave Cleveland OH, 44111
216-671-6219
H & E Money Exchange
3224 Euclid Avenue Cleveland OH, 44115
216-391-1099
H Y & E M Corporation
3224 Euclid Ave Cleveland OH, 44115
216-391-1099
Harvest Money Now
15340 Bagley Road Cleveland OH, 44130
440-888-7008
International Money Exchange
12620 Larchmere Blvd Cleveland OH, 44120
216-421-1817
KAMCO FINANCIAL
7516 Saint Clair Ave Cleveland OH, 44103
216-361-2305
LOAN SMART INC
14585 Lorain Ave Cleveland OH, 44111
216-252-9494
LOANSMART
6210 Brookpark Rd Cleveland OH, 44129
216-739-0663
LOANSMART
21700 Miles Rd Cleveland OH, 44128
216-475-3434
LOANSMART
14615 Lorain Ave Cleveland OH, 44111
216-252-9494
Management Sports Inc
190 Street Street Cleveland OH, 44102
216-215-0911
Money Mart
508 Superior Avenue Northwest Cleveland OH, 44102
216-771-0289
Money Mart
6614 Cedar Avenue Cleveland OH, 44103
216-391-2274
MONEY MART
14333 Euclid Ave Cleveland OH, 44112
216-451-1000
MONEY MART
14201 Kinsman Rd Cleveland OH, 44120
216-752-1147
MONEY MART
508 W Superior Ave Cleveland OH, 44113
216-771-0289
Money Mart - Downtown
510 Superior Avenue Northwest Cleveland OH, 44102
216-696-4879
Money Mart - East
3496 East 93Rd Street Cleveland OH, 44104
216-429-2500
Money Mart - West
2168 West 117Th Street Cleveland OH, 44111
216-671-2274
Money Mart - West
3456 West 25Th Street Cleveland OH, 44109
216-661-2274
Money Mart - West
7311 Brookpark Road Cleveland OH, 44129
216-351-1119
National Cash Advance
5194 Pearl Road Cleveland OH, 44129
216-739-9419
NATIONAL CASH ADVANCE
6410 Harvard Ave Cleveland OH, 44105
216-429-0385
NATIONAL CASH ADVANCE
4071 Lee Rd Cleveland OH, 44128
216-921-2415
NATIONAL CASH ADVANCE
5194 Pearl Rd Cleveland OH, 44129
216-739-9419
NATIONAL CASH ADVANCE
21688 Libby Rd Cleveland OH, 44137
216-663-0870
Pal Financial
4626 Northfield Road Cleveland OH, 44128
216-663-5626
Paychex Inc
4760 Richmond Road Cleveland OH, 44128
216-292-1800
Payday Cash Advance
5218 Broadview Road Cleveland OH, 44134
216-635-1594
Propper Check Cashing
1024 East 152Nd Street Cleveland OH, 44110
216-851-8113
Propper Check Cashing
410 Euclid Avenue Cleveland OH, 44114
216-621-7043
Proppert Check Cashing
1024 East 152Nd Street Cleveland OH, 44110
216-851-2115
Proppert Check Cashing
410 Euclid Avenue Cleveland OH, 44114
216-621-8677
QUICK CASH INC
4423 W 150th St Cleveland OH, 44135
216-251-3837
QUICK CASH INC
5894 Mayfield Rd Cleveland OH, 44124
440-995-5001
QUICK CASH INC
6639 Pearl Rd Cleveland OH, 44130
440-886-5690
QUICK CASH INC
4681 Northfield Rd Cleveland OH, 44128
216-662-2810
Rapid Check Exchange
23198 Miles Road Cleveland OH, 44128
216-663-0077
RAPID CHECK EXCHANGE
23198 Miles Rd Cleveland OH, 44128
216-663-1936
Rapid Check Exchange Inc
23198 Miles Rd Cleveland OH, 44128
216-663-0077
RENT A CENTER
5166 Pearl Rd Cleveland OH, 44129
216-661-4500
RENT A WRECK
10225 Madison Ave Cleveland OH, 44102
216-281-7340
Temecula Towne Center Assoc Lp
1150 Terminal Tower Cleveland OH, 44113
216-621-6060
TSS MANAGEMENT
1930 E 79th St Cleveland OH, 44103
216-361-0540
United Check Cashing
15620 Lake Shore Boulevard Cleveland OH, 44110
216-531-8500
West 117Th Marathon
3585 West 117Th Street Cleveland OH, 44111
216-252-8427

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