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Payday loans in Longview, Texas
Know the laws to avoid falling victim to a scam.
If you have bad credit and need money fast, a payday loan may be able to help. But watch out for predatory lenders by reviewing the ordinances in place in Longview as well as the Texas regulations. Then compare your options to ensure you’re getting the best deal you can.
How are payday loans regulated in Longview, Texas?
Payday loans are regulated under several financial codes throughout Texas and a set of ordinances specific to Longview. Because of the regulations, you’re unlikely to borrow directly from a lender, but rather go through a Credit Access Business (CAB).
Longview’s local ordinances require CABs to register every year with the Longview police department, maintain a record of all transactions, verify borrowers’ income, display a Certificate of Registration and provide borrowers with nonprofit agencies.
As far as the loan you borrow, you can only borrow up to 20% of your gross income. Your term may be no shorter than seven day. And if you’re unable to repay on the due date, you can refinance up to three times after you’ve paid off at least 25% of the original loan amount.
Consider these lenders for a payday loan in Longview, Texas
How to apply for a payday loan
You can find payday loan stores throughout the Longview area, and there are also multiple lenders that work online. If you want to complete an online application, follow these steps:
- Compare your payday loan options in the table above and click Go to Site when you’re ready to apply.
- Fill out your application with details about yourself, including your Social Security number and bank account details.
- Provide information about your employment status and income. You may have to send proof to your lender.
- Submit your application and wait for an approval notification. It may take a day or two to fully process your application.
To be eligible, you’ll have 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 Longview, Texas
Where to find payday loans in Longview, Texas
Here are loan offices locations in Longview:
- Community Loans of America, Inc. 1421 W Loop 281 # C, Longview, TX 75604
- Covington Credit. 308 TX-63 Spur, Longview, TX 75601
- Rapid Payday & Title Loans. 1614 Judson Rd, Longview, TX 75601
- Texas Star Title & Loans. 2199 Gilmer Rd, Longview, TX 75604
- Western-Shamrock Finance. 306 TX-63 Spur, Longview, TX 75601
What are my other short-term loan options?
Because Texas has very few regulations when it comes to short-term loans, you’ll also be able to borrow installment loans and auto title loans when you live in Longview.
- Installment loans. Installment loans work similarly to payday loans, but you’ll have multiple months to pay off what you borrow. This can make it easier to repay, but you’ll likely pay more in interest than with a payday loan.
- Auto title loans. Auto title loans use your vehicle’s title as collateral, which generally makes them cheaper than other short-term loans. Texas has a few regulations you should be aware of, however. And you risk losing your car if you default.
- Payday alternative loan (PAL). PALs are offered by select credit unions and come with APRs capped at 28%. You can only borrower up to $1,000, though. And you’ll have to be a member of the credit union for at least a month to be eligible.
If you live in Longview and are looking for a payday loan, explore Texas’s short-term loan regulations first before choosing a lender. This can help ensure you don’t fall victim to predatory lending. We also recommend looking into your payday loan alternatives to find the least-expensive option available.
Frequently asked questions
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