Payday loans in Albany, New York | finder.com
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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.

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

Installment loans may be an alternative

Although these have similar interest to payday loans, installment loans give you more time to pay back what you owe.

Rates last updated February 25th, 2018

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Unfortunately, none of the personal loan providers offer loans for that credit score. If you are in urgent need of a small loan, you might want to consider a short term loan.
Name Product Product Description Min. Credit Score Max. Loan Amount APR
OppLoans Installment Loans
Installment loans with competitive rates from a top-rated direct lender.
$4,000
From 99-199% (fixed)
Slam Dunk Loans
Potentially get approved for a short-term loan through this lender-connection service, even with poor credit history.
$2,500
From (fixed)
Blue Trust Loans Installment Loans
Get an installment loan from an online tribal lender. Perks for returning borrowers.
$2,000
From 471.7846% (fixed)
CashNetUSA Loan
Apply for a short-term loan with an easy online application and dedicated customer service.
Varies by state
From (fixed)
HonestLoans Installment Loans
Get a flexible installment loan with fast funding through one easy online application form.
$2,500
From 200-2,290% (fixed)
MaxLend Installment Loans
Get up to $1,000 as a first-timer, with loans of up to $2,000 and lower APRs for repeat borrowers.
$2,000
From 471.7846% (fixed)

Compare up to 4 providers

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.

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.

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

Frequently asked questions

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US Payday Loans Offers

Important Information*
Slam Dunk Loans

Potentially get approved for a short-term loan through this lender-connection service, even with poor credit history.

LendUp Payday Loans

LendUp offers $250 loans for first-time borrowers. Good credit is not required. Visit the site to see if available in your state.

Check into Cash Payday Loan

With 1,000 branches in 30 states, get $50 to $1,000 in days from this direct lender.

OppLoans Installment Loans

Installment loans with competitive rates from a top-rated direct lender.

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