Payday loans in Montpelier, Vermont | finder.com
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Compare your loan options in Montpelier, Vermont

If you’re in need of a short-term loan and you’re a resident of Montpelier, consider your other options.

Being short on cash and having a less-than-perfect credit score can make being approved for a loan difficult. Short-term loans may seem like a good option, but lawmakers in Vermont have banned short-term lending in all its forms. If you need a little extra money, our guide will help you find alternative ways to get it.

So I can’t get a loan if I live in Montpelier, Vermont?

Unfortunately, no. All providers of small loans in Montpelier have to abide by Vermont Statutes Annotated Title 9-41a. According to this law, consumer loans can’t have an APR of more than 18%. Because payday lenders typically charge much higher interest rates, you won’t be able to take out a short-term loan in Montpelier.

Our state guide has a more detailed explanation of Vermont law

A list of installment loans you may want to consider

Installment loans are paid back over a set schedule in equal payments. Keep in mind that lenders must still abide by Vermont law unless they offer tribal loans.

Rates last updated February 25th, 2018
Unfortunately, none of the short term loan providers currently offer loans in your state. Learn more about short term loans in your state to find an alternative.
Name Product Product Description Maximum Loan Amount Term of Loan Turnaround Time Requirements
OppLoans Installment Loans
Installment loans with competitive rates from a top-rated direct lender.
$4,000
9 to 36 months
1 business day
Open only to residents of AL, AK, AZ, CA, DE, FL, GA, ID, IL, IN, KS, KY, MI, MO, MS, NV, NM, OH, OK, SC, TN, TX, UT, VA and WI. Must have direct deposit and meet minimum income requirements.
Slam Dunk Loans
Potentially get approved for a short-term loan through this lender-connection service, even with poor credit history.
$2,500
Varies by lender
As soon as next business day
Must be employed, receive regular income, earn at least $800 a month, have a checking account, be 18+ yrs old and a US citizen.
Blue Trust Loans Installment Loans
Get an installment loan from an online tribal lender. Perks for returning borrowers.
$2,000
6 months
As soon as next business day
Must be at least 18 years old and have a verifiable source of income with direct deposit into your checking account.
CashNetUSA Loan
Apply for a short-term loan with an easy online application and dedicated customer service.
Varies by state
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.
HonestLoans Installment Loans
Get a flexible installment loan with fast funding through one easy online application form.
$2,500
Varies by lender
As soon as one business day
Must be employed and receive regular income, earn at least $800 a month, have a checking account and be an 18+ years old legal US citizen.
MaxLend Installment Loans
Get up to $1,000 as a first-timer, with loans of up to $2,000 and lower APRs for repeat borrowers.
$2,000
6 months
As soon as the next business day
Must be at least 18 years old and a US citizen, have a valid bank account and provide a verifiable source of income.

Compare up to 4 providers

Why are payday loans illegal in Vermont?

Short-term loans are notorious for their high interest rates. Vermont lawmakers have capped the maximum APR a lender can charge at 18% to deter payday lenders, which often charge interest in the hundreds, from offering loans in the state. While you may still be able to take out a small loan depending on your credit, you won’t be able to visit a payday loan shop or an auto title pawn location to get quick cash. This is to protect consumers from predatory practices and help people stay out of long-term debt.

What are some other options besides installment loans?

A short term loan may be a bust, but there are other options out there. Some you may have tried, but all may be worth looking into.

  • Negotiate with your creditors. It may not be the easiest method, but contacting your creditors and asking for a payment extension or a reduced monthly payment can be the difference between being able to afford your debt and drowning in it. Your creditors want to get paid, so see if you can make an arrangement that benefits both parties.
  • Consider a credit card cash advance. If you have a credit card, you may be able to take out an advance on the remaining credit limit. This can be a costly option, but it will give you the money you need quickly and without much hassle. Most cards even allow you to withdraw from an ATM.
  • Find some local social services. Look into public services for assistance with heating costs, food and housing. Vermont has programs like 3SquaresVT (food stamps), Seasonal Fuel Assistance and Reach Up Vermont that can help you when you’re struggling to meet the everyday cost of bills.

We have even more alternatives listed here


Where to get cash advances in Montpelier

Where to get a a cash advance in Montpelier, VT?

If you’re looking for cash advance locations in Montpelier, here are some options:

  • People’s United Bank. 112 State St, Montpelier, VT 05601
  • Vermont Community Loan Fund. 15 State St, Montpelier, VT 05602

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US Payday Loans Offers

Important Information*
Slam Dunk Loans

Potentially get approved for a short-term loan through this lender-connection service, even with poor credit history.

LendUp Payday Loans

LendUp offers $250 loans for first-time borrowers. Good credit is not required. Visit the site to see if available in your state.

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.

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