Find a payday loan in Decatur, Alabama | finder.com
Decatur Bridge

Short-term loans in Decatur, Alabama

We value our editorial independence, basing our comparison results, content and reviews on objective analysis without bias. But we may receive compensation when you click links on our site. Learn more about how we make money from our partners.

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

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.

Our top pick: OppLoans Installment Loans

  • Min. Loan Amount: $500
  • Max. Loan Amount: $5,000
  • Turnaround Time: 1 business day
  • Loan Term: 9 to 36 months
  • Requirements: Must have direct deposit and meet minimum income requirements
  • Easy online application
  • Quick approval
  • Fast funding
  • Long repayment terms

Our top pick: OppLoans Installment Loans

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

  • Min. Loan Amount: $500
  • Max. Loan Amount: $5,000
  • Turnaround Time: 1 business day
  • Loan Term: 9 to 36 months
  • Requirements: Must have direct deposit and meet minimum income requirements
Promoted

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

Updated April 19th, 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.
$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.
$250
generally receive the money the next business day
Be 18+ years of age and have a checking account that can accept electronic transfers.
LendUp offers $250 loans for first-time borrowers. Good credit is not required. Visit the site to see more details for your state.
Varies by state
1 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.
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.

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.

Frequently asked questions

Was this content helpful to you? No  Yes

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.

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