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

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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 March 24th, 2019
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 Max. Loan Amount Turnaround Time Requirements
OppLoans Installment Loans
Installment loans with competitive rates from a top-rated direct lender.
$5,000
1 business day
Must have direct deposit and meet minimum income requirements
Jora Installment Loans
Installment loans with repayment terms up to 30 months, depending on your state.
$2,600
1–2 days
Must have an active checking account, regular source of income and email address.
HonestLoans Installment Loans
Get a flexible installment loan with fast funding through one easy online application form.
$2,500
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.
LendYou Short-term Loans
Apply online with this loan-connection service offering unrestricted short-term loans with fast turnaround.
$15,000
1 business day
You must be a US citizen or permanent resident, age 18+ and have a regular income.
CashUSA Installment Loans
A connection service for quick cash loans up to $10,000.
$10,000
As early as 1 business day
Must have a monthly income of $1,000+ after taxes and valid checking account.
CashNetUSA Loan
Apply for a short-term loan with an easy online application and dedicated customer service.
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.
Blue Trust Loans Installment Loans
Get an installment loan from an online tribal lender. Perks for returning borrowers.
$2,500
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.

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*
CashNetUSA Loan

Apply for a short-term loan with an easy online application and dedicated customer service.

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.

LendYou Short-term Loans

Apply online with this loan-connection service offering unrestricted short-term loans with fast turnaround.

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