If you’re pressed for cash and facing an emergency expense, you may be considering a short term loan, like a payday loan, cash advance, or installment loan.

We strongly encourage you not to use one of these products. APRs (the cost of the loan) often run into the triple digits. Many people who use products like these find them incredibly hard to pay off, and instead “roll over” loans or end up taking new loans to pay off the old.

Before applying for one of these products, we strongly suggest seeing if you qualify for a more traditional personal loan, or looking for alternative products offered by local non-profits or credit unions (NerdWallet has a great resource on alternatives to short term loans.)

We put together this short term loan guide so that, if you’ve exhausted your other options, you can easily compare what legitimate short term loan options are available in your state. Product terms are based on offering companies’s websites as of June 1, 2020. 

Advertiser disclosure

Advertiser Disclosure Bank Insider may receive compensation from companies or products reviewed on this website. This may impact the product categories and products we choose to review, and their placement on this site. Any page that includes links to a partner that compensates us will include a prominent disclosure. 

This does not impact our advice or recommendations, which are editorially independent and grounded in our years of experience in financial services and independent research.

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Best Short-term Loans by State

Click above to select your State

Alabama Short-term Loans

In Alabama, payday loans up to $500, lines of credit up to $3,000, and installment loans up to $5,000 are available. Payday lenders utilize a state-mandated database, Veritec, to meet payday loan regulatory requirements. Payday and high cost installment loans and lines of credit in Alabama are regulated by the State Department of Banking.

Alabama Payday loan
Loan amount: Up to $500
Loan term: 10 – 28 days
Loan fee: $17.50 per $100 borrowed
APR: 455% (based on $200 for 14 days)

Alabama Line of Credit
Amount: $2,000 – $3,000
Term: Revolving (open ended)
APR: 299% (includes 15% transaction fee per draw)

Check into Cash
Alabama Payday loan

Loan amount: $50 – $500
Loan term: 10 – 31 days
Loan fee: $17.50 per $100 borrowed
APR: 456.25% (based on $200 for 14 days)

OppLoans
Alabama Installment Loan
Loan amount: $2,000 – $4,000
Loan term: 12 – 24 months
APR: 160%

Rise Credit
Alabama Installment Loan
Loan amount: $2,250 – $5,000
Loan term: 10 – 26 months
APR: 60% – 295% (depends on credit)
Typical APR: 274.33%

Alaska Short-term Loans

In Alaska, payday loans up to $500 and high cost installment loans up to 26 months are available. Payday lenders in Alaska are regulated by the Division of Banking and Securities. The Division publishes a list of payday lenders that are properly licensed in Alaska. We recommend avoiding any payday lenders that are not properly licensed in Alasaka (eg, tribal payday lenders).

High cost installment lenders are not licensed in Alaska. The installment lenders we reviewed make loans via a partner bank, which is federally regulated.

CashNetUSA
Alaska Payday loan
Loan amount: Up to $500
Loan term: 14 – 35 days
Loan fee: $5 + $15 per $100 borrowed
APR: 455% (based on $200 for 14 days)

Check into Cash
Alaska Payday Loan

Loan amount: $100 – $500
Loan term: up to 30 days
Loan fee: $5 fee + $15 per $100 borrowed
APR: 456.25% (based on $200 for 14 days)

OppLoans
Alaska Installment Loan (via FinWise Bank)
Loan amount: $500 – $4,000
Loan term: 9 – 18 months
APR: 160%

Rise Credit
Alaska Installment Loan
Loan amount: $500 – $5,000
Loan term: 7 – 26 months
APR: 99% – 149% (depends on credit)

Arizona Short-term Loans

No reputable companies offer payday loans in Arizona.

High cost installment loans from $500 – $5,000 are available in Arizona. While this type of loan is not explicitly permitted by Arizona law, it is offered via a federally regulated bank partner.

OppLoans
Arizona Installment Loan (via FinWise Bank)
Loan amount: $500 – $4,000
Loan term: 9 – 18 months
APR: 160%

Rise Credit
Arizona Installment Loan
Loan amount: $500 – $5,000
Loan term: 7 – 26 months
APR: 99% – 149% (depends on credit)

California Short-term Loans

In California, payday loans up to $255 are permitted. Payday loans in California are regulated by the Department of Business Oversight.

Regulations governing high cost installment loans in California recently changed. From our review, only one lender offers a high cost installment loan in California via a bank partner.

Ace Cash Express
California Payday loan

Loan amount: $100 – $255
Loan term: 7 – 30 days
Loan fee: $17.64 per $100 borrowed
APR: 459.90% (based on $200 for 14 days)

CashNetUSA
California Payday loan
Loan amount: Up to $255
Loan term: 8 – 31 days
Loan fee: $17.65 per $100 borrowed
APR: 458.90% (based on $200 for 14 days)

Check into Cash
California Payday Loan

Loan amount: $100 – $255
Loan term: 7 – 30 days
Loan fee: $17.65 per $100 borrowed
APR: 460.16% (based on $200 for 14 days)

LendUp
California Payday Loan

Loan amount: Up to $255
Loan term: 7 – 30 days
Loan fee: $17.60 per $100 borrowed
APR: 458.66% (based on $200 for 14 days)

OppLoans
California Installment Loan (via FinWise Bank)
Loan amount: $500 – $4,000
Loan term: 9 – 18 months
APR: 160%

Colorado Short-term Loans

Short term loan options in Colorado are quite limited. The only product we found was a high cost installment loan offered in store (in person). Installment loans in Colorado are government by the Uniform Consumer Credit code.

Ace Cash Express – In Store Only
Colorado Installment Loan

Loan amount: $100 – $1,000
Loan term: up to 155 days (5 payments)
APR: 75.38% – 252.32% (depends on loan size)

Delaware Short-term Loans

In Delaware, payday loans from $100 – $800 are available. Most short term lenders in Delaware offer high cost installment loans, which are available from $300 – $5,000.

Short term loans in Delaware are defined in the administrative code and regulated by the State Banking Commissioner.

Ace Cash Express
Delaware Installment Loan

Loan amount: $100 – $2,000
Loan term: Up to 180 days (5 payments)
APR: 399% (with autopay)

APR: 499% (without autopay)

CashNetUSA
Delaware Payday loan
Loan amount: $300 – $3,500
Loan term: 6 – 24 months
APR: 129% – 449%

Check into Cash
Delaware Payday Loan

Loan amount: $100 – $800
Loan term: typically 2-4 weeks
Loan fee: $30 per $100 borrowed
APR: 780% (based on $200 for 14 days)

OppLoans
Delaware Installment Loan
Loan amount: $500 – $5,000
Loan term: 9 – 18 months
APR: 160%

Rise Credit
Delaware Installment Loan
Loan amount: $300 – $5,000
Loan term: 4 – 26 months
APR: 60% – 299% (depends on credit)
Typical APR: 298.17%

Florida Short-term Loans

In Florida payday loans up to $500 are available. Payday lenders must check borrower eligibility using the state-mandated database (Veritec). Payday loans in Florida are overseen by the Division of Consumer Finance.

Multiple lenders offer short term installments in Florida, through state license or a partner bank.

Ace Cash Express
Florida Payday Loan

Loan amount: $100 – $500
Loan term: 9 – 31 days
Loan fee: $5 verification fee + $10 per $100 borrowed
APR: 325.89% (based on $200 for 14 days)

Florida Installment Loan
Loan amount: $100 – $1,000
Loan term: typically 90 days
APR: 122.40% – 248.22% (depends on amount borrowed and term)

CashNetUSA
Florida Payday loan
Loan amount: Up to $500
Loan term: 8 – 31 days
Loan fee: $5 verification fee + $10 per $100 borrowed
APR: 325% (based on $200 for 14 days)

Check into Cash
Florida Payday Loan

Loan amount: $100 – $500
Loan term: 9 – 31 days
Loan fee: $5 verification fee + $10 per $100 borrowed
APR: 325.89% (based on $200 for 14 days)

OppLoans
Florida Installment Loan (via FinWise Bank)
Loan amount: $500 – $4,000
Loan term: 9 – 18 months
APR: 160%

Rise Credit
Florida Installment Loan (via FinWise Bank)
Loan amount: $500 – $5,000
Loan term: 7 – 26 months
APR: 99% – 149% (depends on credit)

Georgia Short-term Loans

No reputable company offers payday loans in Georgia. High cost installment loans started at $3,000 are available. Georgia does not require companies making this type of loan to be licensed.

OppLoans
Georgia Installment Loan
Loan amount: $3,001 – $5,000
Loan term: 12 – 24 months
APR: 59%

Rise Credit
Georgia Installment Loan
Loan amount: $3,100 – $5,000
Loan term: 11 – 25 months
APR: 50% – 60% (depends on credit)
Typical APR: 59.80%

Hawaii Short-term Loans

Payday loans in Hawaii are available up to $510. Payday lenders in Hawaii are licensed and regulated by the Department of Commerce and Consumer Affairs.

Multiple companies also offer high cost installment loans in Hawaii through bank partnerships.

CashNetUSA
Hawaii Payday loan
Loan amount: Up to $500
Loan term: 8 – 32 days
Loan fee: $17.65 per $100 borrowed
APR: 458.90% (based on $200 for 14 days)

Check into Cash
Hawaii Payday Loan

Loan amount: $100 – $510
Loan term: 8 – 32 days
Loan fee: $17.64 per $100 borrowed
APR: 460.04% (based on $200 for 14 days)

OppLoans
Hawaii Installment Loan (via FinWise Bank)
Loan amount: $500 – $4,000
Loan term: 9 – 18 months
APR: 160%

Rise Credit (via FinWise Bank)
Hawaii Installment Loan
Loan amount: $500 – $5,000
Loan term: 7 – 26 months
APR: 99% – 149% (depends on credit)

Idaho Short-term Loans

In Idaho, payday loans up to $1,000 and high cost installment loans and lines of credit are available up to $5,000.

Short term lenders in Idaho are regulated by the Idaho Department of Finance.

Ace Cash Express
Idaho Payday Loan

Loan amount: $100 – $1,000
Loan term: 9 – 35 days
Loan fee: $25 per $100 borrowed
APR: 651.79% (based on $200 for 14 days)

CashNetUSA
Idaho Line of Credit
Loan amount: $100 – $3,000
Loan term: Revolving (open ended)
Loan fee: $17.65 per $100 borrowed
APR: 458.90%

Check into Cash
Idaho Payday Loan

Loan amount: $50 – $500
Loan term: 9 – 35 days
Loan fee: $25 per $100 borrowed
APR: 651.79% (based on $200 for 14 days)

OppLoans
Idaho Installment Loan
Loan amount: $1,001 – $5,000
Loan term: 9 – 18 months
APR: 160%

Rise Credit
Idaho Installment Loan
Loan amount: $300 – $5,000
Loan term: 4 – 26 months
APR: 60% – 299% (depends on credit)
Typical APR: 298.17%

Illinois Short-term Loans

In Illinois, a variety of short term loans are permitted. The lenders we reviewed offer payday loans up to $800 and high cost installment loans up to $4,000.

In Illinois, short term loans are regulated by the Illinois Department of Financial Institutions

CashNetUSA
Illinois Installment Loan
Loan amount: $250 – $2,250
Loan term: 112 – 180 days
Loan fee: $15.50 per $100 outstanding at each payment
APR: 205% – 415%

Check into Cash
Illinois Payday Loan

Loan amount: $50 – $800
Loan term: 13 – 30 days
Loan fee: $15.50 per $100 borrowed
APR: 404.11% (based on $200 for 14 days)

OppLoans
Illinois Installment Loan
Loan amount: $500 – $4,000
Loan term: 9 – 18 months
APR: 99%

Rise Credit
Idaho Installment Loan
Loan amount: $2,000 – $4,000
Loan term: 15 – 25 months
APR: 60% – 99% (depends on credit)
Typical APR: 98.71%

Indiana Short-term Loans

In Indiana, the lenders we reviewed offer payday loans (in store only) and high cost installment loans up to $5,000.

Payday loans in Indiana are regulated by the Department of Financial Institutions

High cost installment loans in Indiana are not regulated by the State of Indiana and are offered through partner banks.

Ace Cash Express
Indiana Payday Loan – In Store Only

Loan amount: $50 – $605
Loan term: 14 – 35 days
Loan fee: $15 per $100 borrowed
APR: 391.07% (based on $200 for 14 days)

Check into Cash
Indiana Payday Loan

Loan amount: $50 – $605
Loan term: 14 – 35 days
Loan fee: $15 per $100 borrowed
APR: 391.07% (based on $200 for 14 days)

OppLoans
Indiana Installment Loan (via FinWise Bank)
Loan amount: $500 – $4,000
Loan term: 9 – 18 months
APR: 160%

Rise Credit
Indiana Installment Loan (via FinWise Bank)
Loan amount: $500 – $5,000
Loan term: 7 – 26 months
APR: 99% – 149% (depends on credit)

Kansas Short-term Loans

In Kansas, lenders offer payday loans and high cost line of credit (under a Kansas license) or high cost installment loans (through a bank partner).

Short term loans in Kansas offered under a state license are regulated by the State Bank Commissioner

Ace Cash Express
Kansas Payday loan

Loan amount: $100 – $500
Loan term: 9 – 30 days
Loan fee: $15 per $100 borrowed
APR: 391.07% (based on $200 for 14 days)

CashNetUSA
Kansas Line of Credit
Loan amount: $100 – $3,000
Loan term: Revolving (open ended)
APR: 299% (including 15% transaction fee)

Check into Cash
Kansas Payday Loan

Loan amount: $50 – $500
Loan term: 9 – 30 days
Loan fee: $15 per $100 borrowed
APR: 391.07% (based on $200 for 14 days)

OppLoans
Kansas Installment Loan (via FinWise Bank)
Loan amount: $500 – $4,000
Loan term: 9 – 18 months
APR: 160%

Rise Credit
Kansas Line of Credit
Loan amount: $500 – $5,000
Loan term: Revolving (open ended)
APR: 60% – 299% (depends on credit)

Kentucky Short-term Loans

In Kentucky, the short term lenders we reviewed only offered high cost installment loans from $500 – $5,000. These loans are made through bank partner and are not regulated or licensed by the State of Kentucky.

OppLoans
Kentucky Installment Loan (via FinWise Bank)
Loan amount: $500 – $4,000
Loan term: 9 – 18 months
APR: 160%

Rise Credit 
Kentucky Installment Loan 
(via FinWise Bank)
Loan amount: $500 – $5,000
Loan term: 7 – 26 months
APR: 99% – 149% (depends on credit)

Louisiana Short-term Loans

In Louisiana, short term lenders offer payday loans, lines of credit, and installment loans. In Louisiana, payday loans are regulated by the Office of Financial Institutions

Some high cost installment loans are offered through partner banks and are not regulated by the State of Louisiana.

Ace Cash Express
Louisiana Payday loan

Loan amount: $100 – $300
Loan term: 9 – 30 days
Loan fee: $17 per $100 borrowed
APR: 443.21% (based on $200 for 14 days)

Louisiana Installment Loan
Loan amount: $400 – $700
Loan term: 62 – 70 days (two payments)
Loan fee: $20 Documentation fee + $50 Origination fee + 36% interest
APR: 130.04% (based on $500 loan for 70 days)

CashNetUSA
Louisiana Line of Credit
Loan amount: $100 – $3,000
Loan term: Revolving (open ended)
APR: 299% (includes 15% transaction fee)

Check into Cash
Louisiana Payday Loan

Loan amount: $100 – $350
Loan term: 9 – 35 days
Loan fee: Up to $30 per $100 borrowed
APR: 651.79% (based on $200 for 14 days)

LendUp
Louisiana Payday Loan

Loan amount: $100 – $350
Loan term: 7 – 30 days
Loan fee: $17.60 per $100 borrowed
APR: 458.86% (based on $200 for 14 days)

OppLoans
Louisiana Installment Loan (via FinWise Bank)
Loan amount: $500 – $4,000
Loan term: 9 – 18 months
APR: 160%

Rise Credit 
Louisiana Installment Loan 
(via FinWise Bank)
Loan amount: $500 – $5,000
Loan term: 7 – 26 months
APR: 99% – 149% (depends on credit)

Maine Short-term Loans

Short term lending options in Maine include payday loans up to $300 and high cost installment loans up to $4,000.

The installment loans in Maine we reviewed were offered through a partner bank and not regulated by the State of Maine. Payday loans in Maine are regulated by the Bureau of Consumer Credit

CashNetUSA
Maine Payday Loan
Loan amount: Up to $300
Loan term: 8 – 35 days
Loan fee: $5 – $25 depending on loan size
APR: 195% (based on $200 for 14 days)

OppLoans
Maine Installment Loan (via FinWise Bank)
Loan amount: $500 – $4,000
Loan term: 9 – 18 months
APR: 160%

Michigan Short-term Loans

In Michigan, short term loan options include payday loans up to $600 and installment loans through partner banks up to $5,000.

In Michigan, payday loans are regulated by the Department of Insurance and Financial Service

The high cost installment loans in Michigan we reviewed were offered by partner banks and not regulated by the State of Michigan.

CashNetUSA
Michigan Payday Loan

Loan amount: Up to $600
Loan term: 8 – 31 days
Loan fee: $0.61 + up to $15 per $100 borrowed
APR: 384.93% (based on $200 for 14 days)

OppLoans
Michigan Installment Loan (via FinWise Bank)
Loan amount: $500 – $4,000
Loan term: 9 – 18 months
APR: 160%

Rise Credit 
Michigan Installment Loan 
(via FinWise Bank)
Loan amount: $500 – $5,000
Loan term: 7 – 26 months
APR: 99% – 149% (depends on credit)

Minnesota Short-term Loans

In Minnesota, short term loan choices include payday loans up to $500 and high cost installment loans up to $5,000.

Payday loans in Minnesota are regulated by the Department of Commerce.

High cost installment loans in Minnesota are offered via partner banks and are not regulated by the State of Minnesota.

Ace Cash Express
Minnesota Payday loan

Loan amount: $100 – $500
Loan term: 14 – 30 days
Loan fee: $25 fee + up to 33% interest
APR: 358.87% (based on $200 for 14 days)

CashNetUSA
Minnesota Payday loan

Loan amount: Up to $350
Loan term: 8 – 30 days
Loan fee: $5 + up to 10% of loan amount
APR: 247% (based on $200 for 14 days)

OppLoans
Minnesota Installment Loan (via FinWise Bank)
Loan amount: $500 – $4,000
Loan term: 9 – 18 months
APR: 160%

Rise Credit 
Minnesota Installment Loan 
(via FinWise Bank)
Loan amount: $500 – $5,000
Loan term: 7 – 26 months
APR: 99% – 149% (depends on credit)

Missouri Short-term Loans

In Missouri, short term loan options include payday loans up to $500, lines of credit, and installment loans.

Missouri short term loans are overseen by the Missouri Division of Finance

Ace Cash Express
Missouri Payday loan

Loan amount: $100 – $500
Loan term: 14 – 31 days
Loan fee: Up to $17 per $100 borrowed
APR: 443.21% (based on $200 for 14 days)

CashNetUSA
Missouri Line of Credit
Loan amount: $500 – $2,800
Loan term: Revolving (open ended)
APR: 325%

Check into Cash
Missouri Payday Loan

Loan amount: $50 – $500
Loan term: 14 – 31 days
Loan fee: $25 per $100 borrowed
APR: 651.79% (based on $200 for 14 days)

LendUp
Missouri Payday Loan

Loan amount: $100 – $500
Loan term: 14 – 30 days
Loan fee: $25 per $100 borrowed
APR: 651.79% (based on $200 for 14 days)

OppLoans
Missouri Installment Loan
Loan amount: $500 – $4,000
Loan term: 9 – 18 months
APR: 160%

Rise Credit 
Missouri Installment Loan
Loan amount: $300 – $5,000
Loan term: 5 – 26 months
APR: 60% – 299% (depends on credit)
Typical APR: 298.17%

Mississippi Short-term Loans

In Mississippi, short term loan options include payday loans up to $400 and high cost installment loans up to $2,500.

The Mississippi Department of Banking and Consumer Finance regulates short term loans in Mississippi. 

CashNetUSA
Mississippi Installment Loan
Loan amount: $300 – $2,500
Loan term: 5 – 12 months
APR: 249% – 299%

Check into Cash
Mississippi Payday Loan

Loan amount: $50 – $200
Loan term: Up to 30 days
Loan fee: $20 per $100 borrowed
APR: 521.43% (based on $200 for 14 days)

LendUp
Mississippi Payday Loan

Loan amount: $100 – $400
Loan term: Up to 30 days
Loan fee: $19.50 per $100 borrowed
APR: 521.43% (based on $200 for 14 days)

OppLoans
Mississippi Installment Loan
Loan amount: $501 – $2,500
Loan term: 9 – 12 months
APR: 160%

Rise Credit 
Mississippi Installment Loan
Loan amount: $600 – $2,500
Loan term: 6 – 12 months
APR: 60% – 299% (depends on credit)
Typical APR: 284.22%

Montana Short-term Loans

In Montana, the only short term lenders we reviewed offer high cost installment loans up to $5,000 via a bank partner. These loans are not regulated by the State of Montana.

OppLoans
Louisiana Installment Loan (via FinWise Bank)
Loan amount: $500 – $4,000
Loan term: 9 – 18 months
APR: 160%

Rise Credit 
Louisiana Installment Loan 
(via FinWise Bank)
Loan amount: $500 – $5,000
Loan term: 7 – 26 months
APR: 99% – 149% (depends on credit)

North Dakota Short-term Loans

In North Dakota, shot term loan options include payday loans up to $500 and high cost installment loans up to $5,000. Installment loans in North Dakota may be offered under a state license or through a partner bank. For loans regulated by North Dakota law, the Department of Financial Institutions is the regulator. 

CashNetUSA
North Dakota Payday Loan
Loan amount: Up to $500
Loan term: 15 – 30 days
Loan fee: $20 per $100 borrowed
APR: 520% (includes 15% transaction fee)

OppLoans
North Dakota Installment Loan (via FinWise Bank)
Loan amount: $500 – $4,000
Loan term: 9 – 18 months
APR: 160%

Rise Credit 
North Dakota Installment Loan
Loan amount: $1,250 – $5,000
Loan term: 8 – 26 months
APR: 60% – 299% (depends on credit)
Typical APR: 298.18%

Nebraska Short-term Loans

Your short term loan options in Nebraska are high cost installment loans up to $5,000 offered through a partner bank. These loans are not regulated by the State of Nebraska.

OppLoans
Nebraska Installment Loan (via FinWise Bank)
Loan amount: $500 – $4,000
Loan term: 9 – 18 months
APR: 160%

Rise Credit 
Nebraska Installment Loan 
(via FinWise Bank)
Loan amount: $500 – $5,000
Loan term: 7 – 26 months
APR: 99% – 149% (depends on credit)

New Mexico Short-term Loans

In New Mexico, short term lenders offer high cost installment loans from $100 to $5,000. These lenders are regulated by the Financial Institutions Division in New Mexico

Ace Cash Express
New Mexico Installment Loans

Loan amount: $100 – $2,000
Loan term: unclear, at least two payments
APR: max 175% (depends on term)

CashNetUSA
New Mexico Installment Loan

Loan amount: $800 – $3,500
Loan term: 12 – 24 months
APR: 129% – 175%

OppLoans
New Mexico Installment Loan
Loan amount: $500 – $4,000
Loan term: 9 – 18 months
APR: 160%

Rise Credit 
New MexicoInstallment Loan
Loan amount: $300 – $5,000
Loan term: 5 – 26 months
APR: 60% – 175% (depends on credit)
Typical APR: 174.47%

Nevada Short-term Loans

In Nevada, short term loans include payday loans up to $1,500 and high cost installment loans. High cost installment loans may be made pursuant to a state license or through a partner bank. The Financial Institutions Division in Nevada regulates loans made under a state license. 

CashNetUSA
Nevada Payday Loan
Loan amount: Up to $1,500 or 25% of gross monthly income, whichever is smaller
Loan term: 8 – 35 days
Loan fee: $25 per $100 borrowed
APR: 650% (based on $200 for 14 days)

Check into Cash
Nevada Payday Loan

Loan amount: $100 – $1,500
Loan term: 8 – 35 days
Loan fee: $25 per $100 borrowed
APR: 650% (based on $200 for 14 days)

OppLoans
Nevada Installment Loan
Representative loan
Loan amount: $2,100
Loan term: 9.5 months
APR: 159.32%

Rise Credit 
Nevada Installment Loan 
(via FinWise Bank)
Loan amount: $500 – $5,000
Loan term: 7 – 26 months
APR: 99% – 149% (depends on credit)

Ohio Short-term Loans

In Ohio, short term lending options include high cost installment loans made under state license or through a bank partner. Loans made under an Ohio state license are regulated by the Division of Financial Institutions

Ace Cash Express
Ohio Installment Loan

Loan amount: $100 – $1,000
Loan term: 6 months
Loan fee: origination fee + monthly maintenance fee + interest
APR: 91.52% – 190.70% (depending on loan amount and term)

CashNetUSA
Ohio Installment Loan
Loan amount: $300 – $1,000
Loan term: 4 – 12 months
APR: 85% – 239% (includes 2% origination fee and monthly maintenance fee)

OppLoans
Ohio Installment Loan (via FinWise Bank)
Loan amount: $500 – $4,000
Loan term: 9 – 18 months
APR: 160%

Rise Credit 
Ohio Installment Loan 
(via FinWise Bank)
Loan amount: $500 – $5,000
Loan term: 7 – 26 months
APR: 99% – 149% (depends on credit)

Oklahoma Short-term Loans

In Oklahoma, short term loan options include payday loans up to $500 and high cost installment loans up to $5,000.

Loans made under Oklahoma state law are regulated by the Oklahoma Department of Consumer Credit

Ace Cash Express
Oklahoma Installment Loan – In store only

Loan amount: $50 – $700
Loan term: 1 – 5 months
APR: 100.23% – 239.88% (depending on loan amount and term)

CashNetUSA
Oklahoma Payday Loan

Loan amount: $500
Loan term: 13 – 35 days
Loan fee: $0.65 + up to $15 per $100 borrowed
APR: 398.45% (based on $200 for 14 days)

Check into Cash
Oklahoma Payday Loan

Loan amount: $100 – $500
Loan term: 13 – 35 days
Loan fee: $0.65 + up to $15 per $100 borrowed
APR: 399.54% (based on $200 for 14 days)

OppLoans
Oklahoma Installment Loan (via FinWise Bank)
Loan amount: $500 – $4,000
Loan term: 9 – 18 months
APR: 160%

Rise Credit 
Oklahoma Installment Loan 
(via FinWise Bank)
Loan amount: $500 – $5,000
Loan term: 7 – 26 months
APR: 99% – 149% (depends on credit)

Oregon Short-term Loans

In Oregon, short term loan options include payday loans up to $300 or high cost installment loans up to $5,000 offered via a bank partnerships.

Loans made under Oregon law are regulated by the Oregon Division of Financial Regulation

Ace Cash Express
Oregon Payday loan

Loan amount: $100 – $300
Loan term: 31 days
Loan fee: $10 per $100 borrowed + 36% interest
APR: 153.65% (based on $200 for 31 days)

CashNetUSA
Oregon Payday Loan
Loan amount: up to $300 or 25% of net monthly pay, whichever is smaller
Loan term: 31 – 35 days
Loan fee: $10 per $100 borrowed + 36% interest
APR: 153.77% (based on $200 for 31 days)

Check into Cash
Oregon Payday Loan

Loan amount: $100 – $300
Loan term: 31 days
Loan fee: $10 per $100 borrowed + 36% interest
APR: 153.71% (based on $200 for 31 days)

OppLoans
Oregon Installment Loan (via FinWise Bank)
Loan amount: $500 – $4,000
Loan term: 9 – 18 months
APR: 160%

Rise Credit 
Oregon Installment Loan 
(via FinWise Bank)
Loan amount: $500 – $5,000
Loan term: 7 – 26 months
APR: 99% – 149% (depends on credit)

Rhode Island Short-term Loans

In Rhode Island, short term loan options include payday loans up to $1,500 and high cost installment loans up to $4,000. Payday loans should be made pursuant to Rhode Island law. The installment lender we reviewed made loans through a bank partnership outside of Rhode Island regulation.

Loans made under Rhode Island law are regulated by the Department of Business Regulation

CashNetUSA
Rhode Island Payday Loan
Loan amount: up to $1,500 or 25% gross monthly income, whichever is smaller
Loan term: 8 – 35 days
Loan fee: $25 per $100 borrowed
APR: 651.79% (based on $200 for 14 days)

OppLoans
Rhode Island Installment Loan (via FinWise Bank)
Loan amount: $500 – $4,000
Loan term: 9 – 18 months
APR: 160%

South Carolina Short-term Loans

In South Carolina, short term loan options include payday loans, lines of credit, and high cost installment loans. The maximum loan amount is through a high cost installment loan, up to $5,000. Loans made under South Carolina law may be regulated by State Board of Bank Control, State Board of Financial Institutions, or Department of Consumer Affairs.

Ace Cash Express
South Carolina Payday loan

Loan amount: $100 – $550
Loan term: 8 – 31 days
Loan fee: $0.40 + $15 per $100 borrowed
APR: 396.28% (based on $200 for 14 days)

CashNetUSA
South Carolina Line of Credit
Loan amount: $650 – $2,800
Loan term: Revolving (open ended)
APR: 325%

OppLoans
South Carolina Installment Loan
Loan amount: $601 – $4,000
Loan term: 9 – 18 months
APR: 199%

Rise Credit 
South Carolina Installment Loan
Loan amount: $700 – $5,000
Loan term: 5 – 26 months
APR: 60% – 299% (depends on credit)
Typical APR: 298.17%

South Dakota Short-term Loans

In South Dakota, the only short term lenders we reviewed offered high cost installment loans up to $5,000 via a bank partner. These lenders are not regulated under South Dakota law.

OppLoans
South Dakota Installment Loan (via FinWise Bank)
Loan amount: $500 – $4,000
Loan term: 9 – 18 months
APR: 160%

Rise Credit 
South Dakota Installment Loan 
(via FinWise Bank)
Loan amount: $500 – $5,000
Loan term: 7 – 26 months
APR: 99% – 149% (depends on credit)

Tennessee Short-term Loans

In Tennessee, short term loan options include payday loans up to $500, lines of credit, and installment loans. Payday loans and lines of credit we reviewed are made pursuant to Tennessee regulations. The installment loan we reviewed is made through a bank partnership and is not subject to Tennessee regulation. Loans made subject to Tennessee laws are regulated by the Department of Financial Institutions.

Ace Cash Express
Tennessee Payday loan

Loan amount: $100 – $425
Loan term: 8 – 31 days
Loan fee: $17.64 per $100 borrowed
APR: 459.90% (based on $200 for 14 days)

CashNetUSA
Tennessee Line of Credit
Loan amount: $100 – $3,000
Loan term: Revolving (open ended)
APR: 275.85%

Check into Cash
Tennessee Payday Loan

Loan amount: $50 – $425
Loan term: 8 – 31 days
Loan fee: $17.64 per $100 borrowed
APR: 460.04% (based on $200 for 14 days)

LendUp
Tennessee Payday Loan

Loan amount: $100 – $500
Loan term: 7 – 30 days
Loan fee: $16.60 per $100 borrowed
APR: 432.79% (based on $200 for 14 days)

OppLoans
Tennessee Installment Loan (via FinWise Bank)
Loan amount: $500 – $4,000
Loan term: 9 – 18 months
APR: 160%

Rise Credit 
Tennessee Line of Credit

Loan amount: $500 – $4,000
Loan term: Revolving (open ended)
APR: 60% – 275% (depends on credit)

Texas Short-term Loans

In Texas, short term loan options include payday loans up to $1,800 and installment loans up to $5,000. These loans are typically arranged through a ‘credit access business’ (CAB) or ‘credit service organization’ (CSO). This is a very expensive form of credit (up to 664% APR on a 14 day loan).

Loans made under Texas law are regulated by the Texas Office of Consumer Credit Commissioner.

Ace Cash Express
Texas Payday Loan (CSO)

Loan amount: $100 – $1,500
Loan term: 9 – 35 days
Loan fee: $25 per $100 borrowed CSO fee + 10% interest
APR: 661.69% (based on $200 for 14 days)

Texas Installment Loan
Loan amount: $100 – $2,000
Loan term: up to 180 days
Loan fee: CSO fee + interest
APR: 523.75% – 630.16% (based on loan amount and term)

CashNetUSA
Texas Payday Loan (CAB)

Loan amount: up to $1,800 or 35% of gross monthly income
Loan term: 8 – 35 days
Loan fee: $25 per $100 borrowed CAB fee + 10% interest
APR: 664.17% (based on $200 for 14 days)

Texas Installment Loan (CAB)
Loan amount: $600 – $2,500
Loan term: up to 180 days
Loan fee: $0.60 – $0.80 per $100 borrowed per day + 10% interest
APR: 303% – 562%

Check into Cash
Texas Payday Loan (CAB)

Loan amount: $100 – $1,500
Loan term: 9 – 35 days
Loan fee: $25 per $100 borrowed CAB fee + 10% interest
APR: 664.17% (based on $200 for 14 days)

LendUp
Texas Payday Loan (CAB)

Loan amount: up to $500
Loan term: 8 – 35 days
Loan fee: $25 per $100 borrowed CAB fee + 9.9% interest
APR: 664.04% (based on $200 for 14 days)

OppLoans
Texas Installment Loan (CAB)
Loan amount: $500 – $5,000
Loan term: up to 179 days
APR: 199%

Rise Credit 
Texas Installment Loan 
(CAB)
Loan amount: $300 – $2,000
Loan term: 4 – 5 months
APR: 60% – 299% (depends on credit)
Typical APR: 299%

Utah Short-term Loans

In Utah, short term loan options include payday loans up to $1,500, lines of credit, and high cost installment loans. Loans made under Utah statue are regulated by the Department of Financial Institutions.

CashNetUSA
Utah Line of Credit
Loan amount: $100 – $3,000
Loan term: Revolving (open ended)
APR: 299% (includes 15% transaction fee)

Check into Cash
Utah Payday Loan

Loan amount: $100 – $1,500
Loan term: typically 2 – 4 weeks
Loan fee: $25 per $100 borrowed
APR: 651.79% (based on $200 for 14 days)

OppLoans
Utah Installment Loan
Loan amount: $500 – $4,000
Loan term: 9 – 18 months
APR: 160%

Rise Credit 
Utah Installment Loan
Loan amount: $300 – $5,000
Loan term: 4 – 26 months
APR: 60% – 299% (depends on credit)
Typical APR:  274.33%

Virginia Short-term Loans

Loans made pursuant to Virginia law are regulated by the Bureau of Financial Institutions. Short term loan options in Virginia include payday loans up to $500 (in store only), lines of credit up to $3,000, and high cost installment loans up to $4,000.

Ace Cash Express
Virginia Payday loan – In store only

Loan amount: $100 – $500
Loan term: 14 – 62 days
Loan fee: loan fee + interest
APR: 600.86% (based on $300 for 14 days)

CashNetUSA
Virginia Line of Credit
Loan amount: $100 – $3,000
Loan term: Revolving (open ended)
APR: 299% (includes 15% transaction fee)

OppLoans
Louisiana Installment Loan (via FinWise Bank)
Loan amount: $500 – $4,000
Loan term: 9 – 18 months
APR: 160%

Washington Short-term Loans

Short term loans in Washington state include payday loans up to $500 and high cost installment loans up to $5,000 made through a bank partnership.

Payday loans made under Washington law are regulated by Department of Financial Institutions. High cost installment loans made through bank partnerships are not regulated by the State of Washington.

Check Into Cash
Washington Payday loan – In store only

Loan amount: $50 – $500
Loan term: up to 45 days
Loan fee: $15 per $100 borrowed
APR: 391.07% (based on $200 for 14 days)

OppLoans
Washington Installment Loan (via FinWise Bank)
Loan amount: $500 – $4,000
Loan term: 9 – 18 months
APR: 160%

Rise Credit
Washington Installment Loan (via FinWise Bank)

Loan amount: $500 – $5,000
Loan term: 7 – 26 months
APR: 99% – 149% (depends on credit)

Wisconsin Short-term Loans

In Wisconsin, short term loan options include payday loans up to $500, lines of credit up to $3,000, and installment loans up to $5,000. Loans made pursuant to a Wisconsin license are regulated by the Department of Financial Institutions.

CashNetUSA
Wisconsin Installment Loan

Loan amount: $300 – $1,000
Loan term: 6 – 9 months
APR: 241% – 449%

Wisconsin Line of Credit
Loan amount: $1,550 – $3,000
Loan term: Revolving (open ended)
APR: 299% (includes 15% transaction fee)

Check into Cash
Wisconsin Payday Loan

Loan amount: $100 – $1,200
Loan term: 7 – 30 days
Loan fee: $25 per $100 borrowed
APR: 651.79% (based on $200 for 14 days)

LendUp
Wisconsin Payday Loan

Loan amount: $100 – $500
Loan term: 7 – 30 days
Loan fee: $24 per $100 borrowed
APR: 625.71% (based on $200 for 14 days)

OppLoans
Wisconsin Installment Loan
Loan amount: $500 – $4,000
Loan term: 9 – 18 months
APR: 160%

Rise Credit 
Wisconsin Installment Loan
Loan amount: $300 – $5,000
Loan term: 7 – 26 months
APR: 60% – 299% (depends on credit)
Typical APR: 274.23%

Wyoming Short-term Loans

In Wyoming, short term loan options include payday loans up to $1,500 and installment loans up to $5,000.

Wyoming payday loans are regulated by the Banking Department under the Uniform Consumer Credit Code. Note that the Wyoming installment loans we reviewed are offered through partner banks and are not regulated in the state of Wyoming.

CashNetUSA
Wyoming Payday Loan

Loan amount: up to $1,500
Loan term: 14 – 28 days
Loan fee: $20 per $100 per month (pro rated for shorter terms)
APR: 235.43% (based on $200 for 14 days)

Check into Cash
Wyoming Payday Loan

Loan amount: $100 – $300
Loan term: 7 – 30 days
Loan fee: up to $20 per $100 borrowed
APR: 391.07% (based on $200 for 14 days)

OppLoans
Wyoming Installment Loan (via FinWise Bank)
Loan amount: $500 – $4,000
Loan term: 9 – 18 months
APR: 160%

Rise Credit 
Wyoming Installment Loan
Loan amount: $500 – $5,000
Loan term: 7 – 26 months
APR: 99% – 149% (depends on credit)

Short-term Loans FAQs

As state and federal legislation and regulation has changed, the short-term lending market has become more complicated than ever. While 20 years ago, a state may have permitted or effectively banned payday loan (a 2- to 4-week loan against your next paycheck), as consumer advocates and state law cracked down on the product, lenders responded by offering an ever expanding array of high cost lines of credit and installment loan products – both through state licenses and “rent a bank” schemes.

This short-term loan guide is an effort to provide a comprehensive resource to help prospective borrowers make the most informed decision possible.

What should I look for when shopping for a short-term loan?

When looking for a short-term loan, there are a lot of factors to consider. We recommend looking for a direct lender (instead of a broker) that is legally licensed in your state or that is offered through a nationally chartered bank partner.

While some companies will claim a tribal affiliation (and thus exemption from state law) in order to make loans, we do strongly recommend avoiding these companies. They tend to be more expensive and may not afford you the same consumer protections a state licensed lender must.

Additional considerations when shopping for a short-term loan include product type (payday loan, line of credit, or installment loan); term and payment amount (how long do you have to pay the loan back; how much is each payment); APR (how expensive is the loan); and credit impact (is the loan reported to credit bureaus).

What is a tribal lender?

Tribal lenders claim to be a business owned by or affiliated with Native American tribes. Because they are nominally owned and operated by tribes, they argue that state law does not apply to them. This permits them to charge interest rates and engage in business practices that may not be legal in your state.

We strongly recommend that you do not borrow from a tribal short term lender. Most tribal-affiliate lenders include a statement on the bottom of their site or in their terms and conditions noting their tribal affiliation. If you see this, we suggest you consider another company.

How long does it take to get a short-term loan?

Most short-term loans have quick, online applications that take only a few minutes. If approved, it’s possible you could receive your funds the same day; otherwise, you will typically receive your funds the next business day after approval.

What is the difference between a loan broker and direct lender?

While loan comparison services for personal loans can help you compare loan options, the same usually is not true for short-term loans. Sites that identify themselves as “brokers” or “loan matching services” operate by selling your personal information (a “lead”) to the highest bidder. As a result, these services may steer you to loans that are more expensive.

We recommend looking for a direct lender rather than a broker or matching service when shopping for a short-term loan.

Will coronavirus impact my ability to get a short-term loan?

Possibly. Many lenders have tightened their credit policies or changed their underwriting process in light of the economic impact of coronavirus. This may make it more difficult to get a short-term loan, or your lender may ask for additional documentation, like proof of employment or income.

What are the differences between short-term lending products?

We grouped the products on this page together as “short-term loans” because they are designed for borrowers with less than perfect credit facing an immediate need for cash. But the short-term loan category actually includes a number of products.

Payday loan: also known as a “single payment loan” or sometimes “cash advance”. Legally, this is often called a “deferred presentment transaction”, because when the product first became popular in the 1990s, you would write a post-dated check to repay the loan, which the lender would hold and then deposit on your payday.

Installment loan: while fundamentally the same thing as a personal loan, these are often shorter duration (2-26 months), have smaller loan amounts, and are significantly more expensive, with APRs starting at 60%.

Line of credit: basically, a credit card without the physical card. If approved, you have access to a line of credit, which you can draw on as you need. As you make payments, the line of credit available to you increases. Note that APRs on these remain high, at 299% or higher, and often include a large per-draw fee (depending on state).

Other short-term loans: there are other kinds of emergency loans, like auto title loans or pawn loans, but we recommend consumers avoid these transactions in pretty much all cases.

What is risk-based pricing?

With risk-based pricing (or “credit” based pricing), the APR of your loan depends in part on your credit history. Lenders that use risk-based pricing must give you a notice to this effect before you sign your loan agreement. The only lender we reviewed that uses risk-based pricing is Rise Credit.

Do I need good credit to get a short-term loan?

Generally, no. Short-term loan products are designed for consumers who have less than perfect credit, even those with credit scores below 600.

Will getting a short-term loan impact my credit score?

Possibly. Some lenders use “alternative” data sources and credit bureaus (like Lexis-Nexis, DataX, or Clarity), while other short-term lenders do use the traditional credit bureaus (Experian, Equifax, and TransUnion). If you’re concerned about a short-term lenders impact on your credit score (either from a hard inquiry or if your loan becomes delinquent)