Cash Advance and Payday Loans in Milwaukee, WI.

When faced with unexpected expenses, Milwaukee residents who need cash in a hurry often opt for alternative financing, such as cash advances and payday loans. Fortunately, there are a lot of short-term loan shops in cities like Milwaukee. Keep reading for more information about payday loan rules and regulations, requirements, and our favorite online lenders in Milwaukee, WI.

Advantages of Taking Out a Payday Loan in Milwaukee

Taking out payday loans in Milwaukee have several advantages.

• The most significant advantage is that the loan request process is fast and easy. It also requires minimal documents. If approved, consumers may receive the funds in as little as one business day.
• Moreover, online loan requests are flexible and convenient because you can request payday loans online from the comfort of your home.
• Another advantage of payday loans is that consumers may not need collateral to be granted a loan.
• Lastly, Milwaukee consumers with damaged credit scores may be eligible for a loan. Payday lenders may consider income along with the consumer’s credit score when determining eligibility.

How to Get a Cash Advance and Payday Loan in Milwaukee

People who wish to get a cash advance and payday loan in Milwaukee can visit an online lender’s website. Prospective consumers will need to complete a loan request with some personal and financial information. If approved, the lender may directly deposit the funds in as little as one business day.

Cash Advance and Payday Loan Requirements

To be eligible for a payday loan in Milwaukee, consumers must be legal Wisconsin residents of at least 18 years of age. Payday lenders often ask for the following documents:

• Government-issued ID
• Checking account number
• Social Security number
• Proof of income
• Proof of residence

Costs and Regulations of Cash Advances and Payday Loans in Milwaukee, WI

Cash advances and payday loans in Milwaukee are licensed and regulated by the Wisconsin Department of Financial Institutions. Consumers in Milwaukee can have multiple loans simultaneously. However, the total for all loans is $1,500 or 35% of the consumer’s gross monthly income, whichever is less. Moreover, consumers can pay back the loan in a maximum of 90 days. Milwaukee law allows two rollovers and states that the NSF fee shouldn't exceed $15. A 24-hour cooling-off period is required before requesting another loan. The APR can reach up to 574%.

Installment Loans in Milwaukee

People request installment loans to receive a larger sum than a payday loan. Then, they pay back the loan in equal monthly payments.

Milwaukee residents with a steady source of income can request installment loans of up to $3,000. Installment loans in Milwaukee, WI, are offered for up to 36 months. Additionally, APR can reach the triple digits around 300%.

Requesting Title Loans in Milwaukee

Unlike payday loans, title loans are secured loans where the title of the customer's vehicle is used as collateral. After the lender has inspected the car, consumers may receive car title loans up to 50% of their vehicle's appraised value. In Milwaukee, the average loan amount ranges between $100 to $5,000 and, in some cases, may reach $25,000. The loan term is capped at six months, but the standard duration is 30 days. The monthly interest rate in Milwaukee is capped at 25%, 300% annually.

To request for a car title loan in Milwaukee, WI, customers must present their:

• Government-issued ID
• Lien-free title of the car
• Checking account
• Active bank statement
• Proof of income
• Proof of resident

Our Favorite Milwaukee, WI, Cash Advance and Payday Loan Companies

Milwaukee, WI, has many reputable cash advance and payday loan companies operating in the city and online. The following are some of our favorites:

Check into Cash

Check into Cash offers payday loans up to $1,200, installment loans up to $2,000, and title loans up to $25,000. They also provide additional financial services such as check cashing, bill pay, Western Union money transfer, and pre-paid Visa debit cards. Check Into Cash has two locations in Milwaukee, WI.

Advance America

Meanwhile, Advance America lends installment loans ranging from $100 to $3,000 with 300% APR. The lender also offers title loans between $300 to $10,000 with 119% APR. Moreover, consumers can schedule bi-weekly or monthly payments to pay back their loans. Advance America is accessible online and has four locations in Milwaukee, WI.

Check ‘n Go

If you are hesitant to complete a loan request online, Check ‘n Go offers in-store options. The lender was founded in 1994 and has been in business for 25 years, servicing more than 50 million loans. Check ‘n Go has 10 locations in Milwaukee, WI. The products and service offerings include payday loans, installment loans, check cashing, and prepaid MasterCards.

Additionally, Check ‘n Go has several high ratings on Trustpilot along with an A- Better Business Bureau rating.