How to find a short-term loan in Decatur, Alabama | finder.com
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Short-term loans in Decatur, Alabama

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

Alabama has a few specific laws that dictate what lenders can — and can’t — do. Before you visit a storefront in Decatur, make sure you know how the borrowing process works.

OppLoans Installment Loans

OppLoans Installment Loans

Get fast funding up to $5,000 at reasonable interest rates.

  • Min. Loan Amount: $500
  • Loan Term: 9 to 36 months
  • Turnaround Time: As soon as 1 business day
  • Must be 18+ years old
  • No security deposit needed
  • Confidential and secure

    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.

    Consider these lenders for a short-term loan in Decatur

    Rates last updated February 23rd, 2019
    Unfortunately, none of the short term loan providers currently offer loans in your state. Learn more about short term loans in your state to find an alternative.
    Name Product Product Description Max. Loan Amount Turnaround Time Requirements
    OppLoans Installment Loans
    Installment loans with competitive rates from a top-rated direct lender.
    $5,000
    1 business day
    Must have direct deposit and meet minimum income requirements
    Jora Installment Loans
    Installment loans with repayment terms up to 30 months, depending on your state.
    $2,600
    1–2 days
    Must have an active checking account, regular source of income and email address.
    CashNetUSA Loan
    Apply for a short-term loan with an easy online application and dedicated customer service.
    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.
    LendYou Short-term Loans
    Apply online with this loan-connection service offering unrestricted short-term loans with fast turnaround.
    $15,000
    1 business day
    You must be a US citizen or permanent resident, age 18+ and have a regular income.
    CashUSA Installment Loans
    A connection service for quick cash loans up to $10,000.
    $10,000
    As early as 1 business day
    Must have a monthly income of $1,000+ after taxes and valid checking account.
    ACE Cash Express Short-term Loans
    Quick payday, installment and title loans with no prepayment penalty and a 72-hour satisfaction guarantee. Funds can be loaded on an ACE Elite™ Visa® Prepaid Debit Card.
    Varies by state
    Generally receive the money the next business day
    Must be 18+ years old, have a steady source of income and a checking or savings account. Must not be a debtor in bankruptcy.
    LendUp Payday Loans
    LendUp offers $250 loans for first-time borrowers. Good credit is not required. Visit the site to see more details for your state.
    $250
    generally receive the money the next business day
    Be 18+ years of age and have a checking account that can accept electronic transfers.

    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:

    Lenders will have different requirements, but in general, you must

    • Have a steady source of income
    • Be a US citizen or permanent resident
    • Be 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 to borrow. Most lenders offer multiple short-term loan options to their borrowers.

    In addition to these, you may want to check out our guide to payday loan alternatives to see what options you have in Alabama before you borrow a loan with a high interest rate.

    Bottom line

    Payday loans may be legal, but that doesn’t mean there aren’t specific regulations in place to help keep you from overextending yourself. When you’re ready to borrow in Decatur, whether you choose a storefront or an online lender, be sure you know all of Alabama’s laws so you can make a smart decision.

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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.

    Go to site