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You won’t have to look far to find a short-term lender in Los Angeles. But make sure whichever provider you go with is following the most recent laws if you plan on borrowing more than $2,500.
Can I get a short-term loan in Los Angeles, California?
Yes. Short-term loans are legal throughout California, and lenders in Los Angeles are able to offer them both online and in stores. Plus, thanks to recent regulations, larger short-term loans are now much more affordable.
Payday loans have some strict limits in California:
- Maximum amount: $300
- Maximum term: 31 days
- Maximum APR: 460% for a 14-day $100 loan
- Finance charge: 15% of the loan amount
You’re also able to borrow installment and auto title loans, and new laws have helped lower the cost. As of September 2019, the Fair Access to Credit Act prohibits lenders in California from charging more than 36% APR on loans between $2,500 and $10,000.
Compare providers that offer short-term loans in LA
What do I need to apply?
To apply for a short-term loan in Los Angeles, you’ll need to be a legal resident of California and at least 18 years old. You’ll need to provide some basic personal information as well, including:
- Proof of income
- Proof of residence
- Copy of a government-issued photo ID
- Bank account information
- Social Security number
- Date of birth
Where to find short-term loan providers in Los Angeles
Short-term loan locations near me in Los Angeles, CA
- Payday Express. 3647 South La Brea Ave, Los Angeles, CA 90016
- Check Into Cash 3829 South, Los Angeles, CA 90008
- Fast Auto and Payday Loans – Title Loans 1332 E Florence Ave, Los Angeles, CA 90001
- Cashback Loans 107 N Avenue 64 A, Los Angeles, CA 90042
- RPM Lenders Title Loans 1245 South La Brea Ave, Los Angeles, CA 90019
You have a variety of short-term lenders to consider if you live in LA. And thanks to state regulations, APRs are capped at 36% for larger installment loans. To learn more about how it all works and compare even more lenders, check out our guide to payday loans.
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