Payday loans in Annapolis, Maryland | finder.com
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Compare your loan options in Annapolis, Maryland

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Payday loans may be prohibited, but don’t let that limit you.

Maryland has capped interest rates on small loans to keep payday loan providers out of the state. But when you need a loan, there are still multiple ways to borrow — even if you don’t have great credit.

Our top pick: CashUSA Installment Loans

  • Min. Loan Amount: $500
  • Max. Loan Amount: $10,000
  • Turnaround Time: As early as 1 business day
  • Loan Term: 90 days to 72 months
  • Requirements: Must have a monthly income of $1,000+ after taxes and valid checking account.
  • Bad credit is OK
  • No application fee
  • Debt education resources

Our top pick: CashUSA Installment Loans

An online connection service for quick cash loans.

  • Min. Loan Amount: $500
  • Max. Loan Amount: $10,000
  • Turnaround Time: As early as 1 business day
  • Loan Term: 90 days to 72 months
  • Requirements: Must have a monthly income of $1,000+ after taxes and valid checking account.
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What are some alternatives to payday loans?

Although payday loans may not be available in Annapolis, you may still be able to find another option that works for your budget.

  • Installment loans. Installment loans are paid back over a period of months, not weeks, which makes payments much easier to handle. Just be sure your lender abides by Maryland’s cap on interest when you borrow.
  • Personal loans. Although they usually require fair credit at a minimum, there are some personal loans that accept borrowers with bad credit. Interest rates tend to be lower, and you may have multiple years to pay off what you borrow.
  • Personal loans from a local bank or credit union. Many small banks and credit unions accept borrowers of all credit backgrounds. In fact, some federal credit unions even offer payday alternative loans.
  • State assistance programs. One way to conquer a constant fight with your finances is to seek help from state services. Maryland has a number of programs that can help you, including the Temporary Cash Assistance program, the Food Supplement Program (FSP) and Emergency Assistance to Families with Children (EAFC).
  • Pay advance apps. If you’re just a little short on cash, a pay advance app can lend you the money you need — without the high fees. Just check to make sure Maryland is on the provider’s list of serviced states.

Compare installment loans available in Annapolis

Updated April 21st, 2019
Name Product Filter Values Max. Loan Amount Turnaround Time Requirements
$5,000
1 business day
Must have direct deposit and meet minimum income requirements
Installment loans with competitive rates from a top-rated direct lender.
$2,600
1 to 2 business days
Must have an active checking account, regular source of income and email address.
Installment loans with repayment terms up to 30 months, depending on your state.
$2,500
1 business day
Must be employed and receive regular income, earn at least $800 a month, have a checking account and be an 18+ years old legal US citizen.
Get a flexible installment loan with fast funding through one easy online application form.
$2,500
As soon as next business day
Must be at least 18 years old and have a verifiable source of income with direct deposit into your checking account.
Get an installment loan from an online tribal lender. Perks for returning borrowers.
$15,000
1 business day
You must be a US citizen or permanent resident, age 18+ and have a regular income.
Apply online with this loan-connection service offering unrestricted short-term loans with fast turnaround.
$10,000
As early as 1 business day
Must have a monthly income of $1,000+ after taxes and valid checking account.
An online connection service for quick cash loans.
Varies by state
1 business day
You must be a US citizen or permanent resident, be at least 18 years old and have regular income and a bank account.
Apply for a short-term loan with an easy online application and dedicated customer service.

Compare up to 4 providers

So I can’t get a payday loan in Annapolis?

No. Under Maryland Commercial Law 12-101 et. seq., payday loans are prohibited in all forms, including in store and online.

If you’re looking for a short-term loan in Annapolis, Maryland’s current laws limit the maximum interest lenders are permitted to charge. You won’t have to pay a rate higher than 2.75% per month or an APR of more than 33%.

Why has Maryland banned payday loans?

Payday loans are prohibited because of their high cost to borrowers, with interest rates often reaching 300% or more. In order to combat what many feel is a predatory system, Maryland keeps payday lenders out by capping the interest rate lenders can charge.

Cash advance locations in Annapolis, Maryland

Cash advance store locations in Annapolis

  • Chextop. 2324 Davidsonville Rd, Gambrills, MD 21054
  • ACE Cash Express. 2012 West St Unit C, Annapolis, MD 21401, USA

Bottom line

Maryland law is there to protect you from high interest rates, which is why you won’t be able to take out a payday loan in Annapolis. Instead, compare payday alternatives, including bad-credit personal loans, state assistance programs and installment loans.

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US Payday Loans Offers

Important Information*
CashNetUSA Loan

Apply for a short-term loan with an easy online application and dedicated customer service.

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.

LendYou Short-term Loans

Apply online with this loan-connection service offering unrestricted short-term loans with fast turnaround.

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