Payday loans in Annapolis, Maryland |
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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: $1,000+ monthly income after taxes, valid checking account
  • Bad credit is OK
  • No application fee
  • Debt education resources

Our top pick: CashUSA Installment Loans

Explore its online education center to get tips on budgeting, how to prioritize your bills and more.

  • 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: $1,000+ monthly income after taxes, valid checking account

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 June 27th, 2019
Name Product Filter Values Max. Loan Amount Turnaround Time Requirements
1 business day
Direct deposit, meet minimum income requirements
Comes with the option to change your due date so you won’t fall behind on repayments.
1 to 2 business days
Active checking account, regular source of income, email address
Get access to tools to help you plan a career move, make some extra cash or search for a better-paying job.
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.
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.
1 business day
$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.
As early as 1 business day
$1,000+ monthly income after taxes, valid checking account
Explore its online education center to get tips on budgeting, how to prioritize your bills and more.
Varies by state
1 business day
Regular source of income, bank account, US citizen or permanent resident, ages 18+
Sign up for its discount program to get access to coupons and deals on everything from dining out to tax services.

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

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