Cash Advance and Payday Loans in Columbus, OH.

Each state has its unique payday loan and cash advance laws, and Ohio isn’t an exception. We outline the available lending options in Columbus to help you find quick access to the necessary financing you might need.

Advantages of Taking Out a Payday Loan in Columbus

When faced with a financial crisis, Columbus residents are likely to start looking for cash to address the issue. That’s where a payday loan or a cash advance steps in to help you with quick and easy financing. These funding solutions are ideal for covering rent and other bills.

Below, you can find the perks offered by payday loans and cash advances:

• Flexible. Although lenders will check your credit score, they may still be willing to work with you if you have less than stellar credit. Some lenders may consider income when determining eligibility.
• Easy Application. Consumers don’t necessarily have to go to a brick-and-mortar lender to find financing. Instead, online payday lenders offer a convenient alternative that allows consumers to request for loans from their homes or offices.
• Quick Access. Medical and maintenance bills are some of the unexpected expenses you might face. This is when fast financing becomes of particular importance. Luckily, payday loans and cash advances provide quick access to the funding you need. If approved, you may receive your funds in as little as one business day.

How to Get a Cash Advance and Payday Loan in Columbus

When faced with a financial emergency, consumers want to avoid funding-related hurdles as much as possible. The good news is that payday lenders can make the financing process quick and easy. The first step is to request a loan by providing basic personal and financial information. The lender will review the information and may provide the funds in as little as one business day if the consumer is approved.

Cash Advance and Payday Loan Requirements

To request a payday loan, you need to:

• Be 18 years old
• Be a U.S. citizen or permanent resident
• Show the source of your income

The following personal information will be required:

• Name
• Address
• Contact information
• Social Security number (SSN)
• Employment history
• Banking information

Costs and Regulations of Cash Advances and Payday Loans in Columbus, Ohio

Payday loans and cash advances ordinances in Columbus, Ohio, are strict compared to other states. For instance, Ohio caps payday loans at $1,000 and APR at 28%. Terms range between 91 days and one year.

Additionally, consumers are only allowed one loan, and no rollovers are permitted. Moreover, Columbus lenders may charge additional fees, including 10% of the total loan amount or $30, whichever is less. Also, a collection fee of up to $20 may be charged.

Installment Loans in Columbus

Sometimes, your emergencies may require larger-sum financing. As a result, online installment loans may be convenient for Columbus consumers.

• An installment loan amount is generally $1,000 to $5,000
• You can pay it back within one year
• You must make the payments in equal, fixed sums, usually monthly
• APR is capped at 28%

Requesting Title Loans in Columbus

On average, Columbus residents have about two vehicles per household. As a result, some consumers in Columbus may be willing to offer their vehicle as collateral for a larger-sum loan. However, this is not possible in Ohio. In 2019, Ohio instituted the Short-Term Loan Act, prohibiting title loans. This was done to stop predatory lending practices that charged high APR.

Unfortunately, consumers in Columbus seeking to obtain a large-sum title loan will not be able to do so.

Our Favorite Columbus Cash Advance and Payday Loan Companies

CashNetUSA

CashNetUSA is an online lender. The company offers payday loans, installment loans, and lines of credit. The lender’s payday loans generally range from $100 to $600, and the installment loans and lines of credit range from $100 to $3,500. The interest rates vary from 85% to 805% APR. To request a loan with CashNetUSA, you can visit their official website.

Check ‘n Go

Check ‘n Go offers payday loans, cash advances, and installment loans. The company also provides prepaid MasterCards and cash checking services. On average, you can expect to pay an APR of 390% for 31-day loans and about 600% for 14-day loans.

Check ‘n Go has two locations in Columbus and accepts online applications, too.

Advance America

Advance America has 10 locations in Columbus, OH. The lender offers payday, installment, and title loans ranging between $100 and $25,000. Additionally, the company provides Western Union services and prepaid VISA cards.