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Compare your loan options in Albany, New York

Payday loans are illegal in New York, but you do have other options.


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When you don’t have the best credit, it can be hard to find a small loan that can help you deal with financial emergencies or gaps in your budget. This guide will give you alternative options for when you’re struggling to make ends meet.

What are the New York laws that affect Albany?

Because New York has banned payday lending under it’s usury and bank laws, residents of Albany aren’t able to take out a payday loan in-person, over the phone or online. If you’re in need of quick money for a bill or important purchase, there are other ways to get it.

Here’s extra information on New York’s payday loan laws

Do I have other options if I have bad credit?

Short-term, auto title and personal loans might be a bust, but there are other options out there. Some you may have tried, but all may be worth looking into:

Although you can’t get a payday or auto title loan in Albany, there are other ways to get quick money even if you don’t have the most perfect credit.

  • Borrow from people you know. You may be able to request an advance on your paycheck from your employer or borrow a little from friends and family.
  • Contact community organizations. Non-profit financial cooperatives and local credit unions may have options for small loans as long as you meet the eligibility criteria.
  • Talk to your creditors. Ask about arranging a payment plan or request more time between bills.
  • Local social services. Look into public services for assistance with heating costs, food and housing. New York has programs like the Home Energy Assistance Program (HEAP) and The Earned Income Tax Credit (EITC) to help you get by.

What about a credit card?

You could apply for a secured credit card or an unsecured card with easier approval. Although it won’t solve your short-term cash needs, it will give you a line of credit for making regular purchases every month.

Building positive credit history is one of the keys to unlocking future line of credit and loan opportunities. Consider a card like the Deserve® Classic Card that can help you make monthly purchases and reports to the credit bureaus to help you build credit history.

Our page on alternatives has more details

Why can't I get a short-term loan in Albany?

New York lawmakers have banned short-term lending because of its notoriously high costs. Unlike other forms of credit, short-term loans are known for their interest rates being well above 300%, and many consumer advocate groups consider this a predatory practice. Because of this, you won’t be able to get any type of short-term loan–like a payday advance or a title loan–in the state of New York.

Compare short-term loan options in New York

Data indicated here is updated regularly
Name Product Filter Values Max. Loan Amount Turnaround time Requirements
OppLoans Installment Loans
$500 to $5,000
1 business day
Direct deposit, meet minimum income requirements, live in eligible state
Comes with the option to change your due date so you won’t fall behind on repayments.
 Check Into Cash Installment Loans
1 to 2 business days
Bank account, email address, phone number, US citizen or permanent resident, ages 21+, $3,500 minimum income in California
Borrow money with lower payments and more time to pay than a traditional payday loan.
Fast5kLoans Short-term Loans Connection Service
As soon as the next business day
Regular source of income, verifiable bank account, US citizen, ages 18+
Get connected with multiple lenders you might qualify with — even if you have bad credit.
Pheabs installment loan connection service
As soon as next business day
Bad credit accepted
Monevo Installment Loans
Varies by lender
Credit score of 500+, legal US resident, ages 18+
Quickly compare multiple online lenders with competitive rates depending on your credit.
Depending on lender requirements, people from all 50 states may not be eligible for a personal loan.
With straightforward, simple qualifications, these loans offer easy approval for people with poor credit.
LendYou Short-term Loans
Same business day to 1 business days
$1,000+ monthly income, direct deposit, US citizen or permanent resident, ages 18+
Get offers from potential lenders in minutes by filling out just one online form.

Compare up to 4 providers

Cash advances locations near you in Albany, NY

Cash advance store locations in Albany

  • Cash In Advance. 71 Central Ave, Albany, NY 12206
  • Regina Check Cashing & Financial Services. 911 Central Ave, Albany, NY 12206
  • Regina Check Cashing Corporation. 24 Central Ave, Albany, NY 12210

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