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Short-term loans in Decatur, Alabama

Learn the rules and regulations of payday loans in this Southern town.


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Editor's choice: OppLoans Installment Loans

  • Easy online application
  • Quick approval
  • Long repayment terms
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Alabama has a few specific laws that dictate what short-term lenders can and can’t do. Before you visit a payday loan storefront in Decatur, read up on the regulations to ensure you don’t fall victim to a scam.

How are payday loans regulated in Decatur, AL?

Payday loans are governed by 5-18A-1 et seq. of the Alabama Statutory Citation, which covers all short-term loans in the state. These laws cover any payday loans made in person, online or over the phone — whether the lender is located in Decatur or in another city in Alabama.

You can only borrow up to $500 for a payday loan, with terms lasting anywhere from 10 to 31 days. Lenders are also limited to the amount you can be charged: Financing fees can’t be more than 17.5% of the loan amount. If you borrow a loan of $500, you’ll owe $587.50 by the end of your loan term.

If you’re unable to repay your loan, lenders are required to offer you a repayment plan with four equal monthly installments. And once you’ve repaid your loan, you can take out another provided you wait at least one business day after you’ve successfully repaid two loans.

Compare short-term loan providrs in Decatur

Data updated regularly
Name Product Filter Values Loan amount Turnaround time Requirements
OppLoans Installment Loans
$500 - $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.
Pheabs installment loan connection service
$100 - $35,000
As soon as next business day
Fair credit accepted
Check Into Cash Payday Loan
$50 - $1,000
1 to 2 business days
Bank account, email address, phone number, US citizen or permanent resident, ages 21+
Plus, get access to check cashing, cell phone top ups, bill pay and more at one of its many storefronts.
Fast5kLoans Short-term Loans Connection Service
$100 - $35,000
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.
Monevo Installment Loans
$500 - $100,000
Varies by lender
Credit score of 500+, legal US resident, ages 18+
Quickly compare multiple online lenders with competitive rates depending on your credit.

Compare up to 4 providers

How to apply for a payday loan in Decatur

Because you can apply online, over the phone and at a storefront, the exact steps will vary. However, the process of applying online is typically similar between lenders. To get started, follow these steps:

  1. Compare your lender options in the table above and click Go to Site when you’re ready to apply..
  2. Fill out the lender’s application with information about yourself, including your Social Security number, bank account details and employment status.
  3. Submit your application and wait for an approval notification. Lenders may take multiple business days to fully process your application.

You may be required to submit proof of your employment or income to your lender during the application process. If approved, most lenders can transfer your loan funds into your account as soon as the next business day — though it may take longer depending on your bank and when you finalize your loan.

If you want to apply by phone or at a store, you can visit the lender’s website to see if they offer this type of application. Some storefront locations are listed under the map below.

Eligibility criteria:

While lenders have different requirements, you’ll generally need to meet the following criteria:

  • Steady source of income
  • US citizen or permanent resident
  • At least 18 years old

A map of payday loan locations in Decatur, AL

Where to find payday loans in Decatur, AL

Find a short term loan store in Decatur:

  • Advance America. 1622 Beltline Rd SW, Decatur, AL 35601
  • Always Money. 1716 6th Ave SE, Decatur, AL 35601
  • Approved Cash. 901 Wimberly Dr SW Suite A, Decatur, AL 35603
  • Cash Express. 1814 Beltline Rd SW, Decatur, AL 35601
  • Check ‘n Go. 2019 6th Ave SE STE 10, Decatur, AL 35601
  • Check Into Cash. Plumtree Center, 1000 Beltline Hwy, Suite N, Decatur, AL 35601
  • Covington Credit. 1605 Beltline Rd, Ste D-10, Decatur, AL 35601
  • Easy Money. 1402 Beltline Rd SW, Decatur, AL 35601
  • Frazier Loans. 1820 6th Ave SE Unit W, Decatur, AL 35601
  • Sun Loan Company. 1638 Beltline Rd SW, Decatur, AL 35601

What are my other short-term loan options in Decatur?

You aren’t limited to just payday loans when you need cash fast. Many lenders offer multiple short-term loan options, including:

In addition to these, you may want to check out our guide to payday loan alternatives to see what other options you have in Alabama that don’t come with such a high interest rate.

Bottom line

Payday loans may be legal, but that doesn’t mean there aren’t specific regulations in place to protect borrowers. If you live in Decatur and need cash fast, be sure to look into all of Alabama’s payday loan laws to avoid falling victim to a predatory lender.

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