Can I actually get a payday loan in Dover, DE? | finder.com

Compare your loan options in Dover, Delaware

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You can borrow a large amount — but there’s no limit on the fees you’ll be charged.

There are a wide variety of lenders offering payday loans — also known as a cash advance — to residents of Dover. But before you borrow, be sure you know the potential terms of your loan.

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: Direct deposit, meet minimum income requirements
  • Easy online application
  • Quick approval
  • Fast funding
  • Long repayment terms

Our top pick: OppLoans Installment Loans

Comes with the option to change your due date so you won’t fall behind on repayments.

  • Min. Loan Amount: $500
  • Max. Loan Amount: $5,000
  • Turnaround Time: 1 business day
  • Loan Term: 9 to 36 months
  • Requirements: Direct deposit, meet minimum income requirements
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Can I get a payday loan in Dover?

Yes, payday loans are legal in Dover and are governed by Delaware Code Title 5 2227 et seq., whether the lender operates a physical storefront or offers loans online.

You can borrow up to $1,000, and your loan term may last up to 60 days. However, you can only borrow five loans within a 12-month period — and that includes any refinancing or rolling over of your loan amount. This limit is meant to help borrowers avoid the high cost of borrowing, but it may not do much. This is because lenders aren’t limited to the interest they charge. The result? You may have an APR in the hundreds of percents when you borrow.

Before you get involved with a loan, compare your rates to make sure you find a lender that offers affordable terms.

Compare short-term loans available in Dover

Updated June 27th, 2019
Name Product Filter Values Max. Loan Amount Turnaround Time Requirements
$5,000
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.
$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.
$2,600
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.
$15,000
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.
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.
$10,000
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.
$250
As soon as the next business day
Checking account with ACH, proof of income, Social Security number, ages 18+
Get rewarded for making on-time repayments with better rates and terms on future loans.
Varies by state
1 business day
Steady source of income, checking or savings account, not currently in bankruptcy, ages 18+
Its satisfaction guarantee means you can return the full loan amount within 72 hours if you change your mind.
$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.

Compare up to 4 providers

What do I need to apply?

The first step is to make sure you qualify. While eligibility requirements vary by lender, you’ll generally have to have a steady source of income, be a US citizen or permanent resident and be at least 18 years old.

Then, to complete the application successfully, you’ll have to provide some basic information. This includes:

  • Your name, date of birth, Social Security number and contact information
  • Your employer’s name, address and phone number
  • Your income, pay frequency and details from a checking account

The exact information a lender needs will depend on whether you visit a store or apply online, so before you start, be sure you check the lender’s requirements.

Where to find short-term loans in Dover

Short-term loan locations near me in Dover, DE

  • Advance America. 264 S Dupont Hwy, Dover, DE 19901
  • American Finance, LLC. 4200 N Dupont Hwy #3, Dover, DE 19901
  • Cash Plus. 429 S New St, Dover, DE 19904
  • Check ‘n Go. 283 N Dupont Hwy B, Dover, DE 19901
  • Instant Payday Loans. S State Street
  • E Z Cash of Delaware. 1030 Forrest Ave #122, Dover, DE 19904
  • E Z Loans. 229 Stadium St, Smyrna, DE 19977
  • Loan-Till-Payday. 178 N Dupont Hwy, Dover, DE 19901
  • Minute Loan Center. 510 N Dupont Hwy #4, Dover, DE 19901
  • TJM Financial Group. 738 N Dupont Hwy, Dover, DE 19901

Must read: Be cautious of high financing fees

Delaware doesn’t set an upper limit on the amount a lender can charge in financing fees. This means there is no limit on the maximum APR you’ll have to pay — it varies by lender, so you may be stuck with an extremely high rate if you don’t carefully compare your options. Because of this, you should be cautious when borrowing a loan, especially if your lender sets your loan term at your next payday.

Before you sign a contract, be sure to consider some short-term loan alternatives, including the options listed in the section below.

What other short-term loan options do I have in Dover?

Payday loans aren’t the only option when you live in Dover. Installment loans and auto title loans are also commonly turned to when someone has bad credit, but keep in mind that the cost is still quite high.

  • Installment loans. Installment loans are similar to payday loans, but you’ll generally have longer than 60 days to repay what you borrow. This can make monthly payments easier, though it could come at a cost: The longer your loan term, the more interest you might pay.
  • Auto title loans. When you borrow an auto title loan, you use your car title as collateral. However, like payday loans, the fees a lender can charge isn’t regulated. Because of this, you should take your time choosing a lender and making sure your budget can handle the monthly payments.

Bottom line

Dover, like all of Delaware, has a variety of payday loan options available to its residents. And while these can be convenient options — especially if you need to borrow a larger amount — the cost can quickly skyrocket if you aren’t picky when selecting a lender. Because of this, you should read up on payday loans and learn more about borrowing in Delaware to make sure you’re getting the best deal.

Frequently asked questions

Where else are payday loans available?

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