Find out your short-term loan options in Harrisburg.
If you’re thinking of taking out a payday loan to get by between paychecks, you’ll need to consider other options. Fortunately, there are quite a few ways you can add some flexibility to your budget when times are tight. Just be sure the lender or service you go with abides by Pennsylvania law.
Can I get a payday loan in Harrisburg?
No. Payday loans aren’t legal anywhere in Pennsylvania, including Harrisburg. According to 63 Pennsylvania Statutes Ann. § 2325, check cashers can’t provide payday loans to residents of Pennsylvania, meaning they won’t be able to advance you cash in Harrisburg, even if you use an online lender.
If you apply for any other kind of credit, Pennsylvania’s Consumer Discount Company Act — 7 PA. Cons. Stat. §§ 6201 et seq. — applies. You won’t have to pay more than $9.50 per $100 in interest for the first 48 months of the loan, and lenders may only charge a service fee of $1.50 per $50 advanced. This is significantly less expensive than the terms offered by payday lenders.
However, that doesn’t necessarily limit your options if you have bad credit. You may still be able to borrow an installment loan, and there are some other options when you need a short-term loan.
Compare your installment loans options in Harrisburg, PA
Installment loans allow you to pay back your loan in fixed payments over a set period of time. If you’re thinking of taking out an installment loan, make sure it abides by Pennsylvania law. Even online lenders must follow these rules, so check before you sign.
What are some of my other options for a short-term loan in Harrisburg?
You may not be able to borrow a payday loan, but there are other ways to make life more affordable when you live in Harrisburg, PA.
- Local social services. Look into public services for assistance with your everyday expenses like heating, food and housing costs.
- Borrow from people you know. You may be able to request an advance from your employer or get a loan from friends or family. Be sure you repay what you borrow in a timely manner to avoid strained relationships.
- Talk with community organizations. Non-profit financial cooperatives and community credit unions may have options for small-amount loans if you meet their eligibility criteria.
- Talk to your creditors. Ask about arranging a payment plan or getting more time to pay. Your creditors want to get paid and are often willing to work with you to make sure you can afford your payments on a regular basis.
- Use a pay advance app. If you have a steady job with regular hours, then you may be able to download a pay advance app that gives you access to the money you’ve already earned for a small membership fee.
Of course, these aren’t your only options. We have a full list of payday loan alternatives for people who aren’t able to borrow.
Must read: Why can’t I get a payday loan in Harrisburg?
Many states have begun to recognize consumer complaints about the cost of payday lending and the predatory practices some lenders take part in. To combat this, Pennsylvania lawmakers have put in place an interest cap to deter small-loan lenders from offering payday loans in the state. This may limit your option, but it does help protect you from the extremely high interest rates associated with payday lending.
Where to find cash advance locations in Harrisburg
Where to find cash advance locations near me in Harrisburg, PA?
- Sell Car For Cash Harrisburg. 2150 Queens Dr Apt B2, Harrisburg, PA 17110
- Simple Gold Exchange. 4600 Jonestown Rd, Harrisburg, PA 17109
- Family Financial Center. 2721 Agate St, Harrisburg, PA 17110
- Capitol City Buy & Sell. 3517 Walnut St, Harrisburg, PA 17109
- TOP CASH PAID 24/7. 3405 Walnut St, Harrisburg, PA 17109
- Blue Chip Federal Credit Union. 5050 Derry St, Harrisburg, PA 17111
- Fast Cash, Inc. Allen Hall, Harrisburg, PA 17104
- Ny Check Cashing Inc. 1314 Market St, Harrisburg, PA 17103
- United Check Cashing. 3200 Paxton St, Harrisburg, PA 17111
Bottom line
Although payday loans may not be legal under Pennsylvania state law, you still have a few short-term loan options available. Just be sure your lender abides by Pennsylvania’s cap on interest and offers you terms you can afford.
You can read our guide to learn more about installment loans and how to find a legit lender.
