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Compare your loan options in Providence, Rhode Island

Interest rate caps keep short-term loans less expensive — but you'll still have a high APR.

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Editor's choice: OppLoans Installment Loans

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  • Easy online application
  • Quick approval
  • Long repayment terms
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There are plenty of choices for residents of Providence looking for a short-term loan. Before you begin your search, learn about how Rhode Island law affects borrowers and what you’ll need to know about lenders in your area.

Can I get a payday loan in Providence?

Yes, payday loans are legal in Providence and throughout Rhode Island. Lenders have to abide by the Rhode Island Statutes Title 19 Chapter 19.14.4-1 et seq. This limits the amount you can borrow to $500. Minimum terms start at 13 days, though there is no upper limit to how long you can borrow — which means a longer term might make it easier to repay your loan.

Lenders can only charge a financing fee of 10% of the loan amount. This results in a maximum APR of 260% for a 14-day loan. If you borrow the full $500, you’ll owe $550 at the end of your loan term. If you can’t afford to repay your loan on its due date, you are permitted to roll over your loan by paying the fee and extending your loan’s term.

Compare online short-term lenders

Data indicated here is updated regularly
Name Product Filter Values Max. Loan Amount Turnaround time Requirements
OppLoans Installment Loans
$5,000
1 business day
Direct deposit, meet minimum income requirements, live in eligible state
Comes with the option to change your due date so you won’t fall behind on repayments.
 Check Into Cash Installment Loans
$3,000
1 to 2 business days
Bank account, email address, phone number, US citizen or permanent resident, ages 21+, $3,500 minimum income in California
Borrow money with lower payments and more time to pay than a traditional payday loan.
Fast5kLoans Short-term Loans Connection Service
$35,000
As soon as the next business day
Regular source of income, verifiable bank account, US citizen, ages 18+
Get connected with multiple lenders you might qualify with — even if you have bad credit.
LendYou Short-term Loans
$15,000
Same business day to 1 business days
$1,000+ monthly income, direct deposit, US citizen or permanent resident, ages 18+
Get offers from potential lenders in minutes by filling out just one online form.
Possible Finance Mobile Installment Loans
$500
As fast as 1 business day
Checking account with 3+ months of banking history, $750+ monthly income, live in eligible state, ages 18+
Borrow up to $500 with just a few swipes — but only for residents of 5 states.
BadCreditLoans.com
$5,000
Varies
Depending on lender requirements, people from all 50 states may not be eligible for a personal loan.
With straightforward, simple qualifications, these loans offer easy approval for people with poor credit.
CashNetUSA Loan
Varies by state
As fast as same business day
Regular source of income, bank account, US citizen or permanent resident, age of majority in your state
Sign up for its discount program to get access to coupons and deals on everything from dining out to tax services.
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Compare up to 4 providers

What do I need to apply?

Before you apply, you’ll need to meet a few basic eligibility criteria. In general, you must have a steady source of income, be a US citizen or permanent resident and be at least 18 years old. Some lenders may have more strict requirements, so check yours before you apply.

Once you’ve found a lender, you’ll need to provide some basic information about yourself.

  • Personal information, including your name, date of birth and Social Security number
  • Contact information, including your address, email and phone number
  • Employment information, including how long you’ve been working and your employer
  • Income information, including how much you make a month and your bank account details

Where to find short-term loan locations in Providence

Short-term loan locations near me in Providence, RI

If you want to apply for a payday loan in Providence by visiting a store, here are some of your options:

  • Advance America. 361 Reservoir Ave., Unit B-2, Providence, RI 02907
  • Capital Good Fund. 22 A St, Providence, RI 02907
  • Check ‘n Go. 112 Douglas Ave Ste 101, Providence, RI 02908
  • Empire Loan of Providence. 1271 N Main St, Providence, RI 02906
  • Quick Cash Providence. 967 Westminster St, Providence, RI 02903

To take advantage of the convenience of applying for a loan online, check out the online lenders in our comparison table above.

Must read: Be cautious of high costs

Although Rhode Island caps the financing fee a lender can charge at 10%, payday loans are still an expensive form of credit. If you aren’t careful, you may be stuck with a loan term of just 13 days — which might make repaying your loan quite difficult. Before you borrow, consider some short-term loan alternatives and other services available throughout Rhode Island and in Providence.

What are my other short-term loan options?

Not sure about that quick turnaround but still need a small loan? You have other short-term loan options. Just be sure you can afford the high interest rate and big fees that lenders charge.

  • Installment loans. Installment loans are similar to payday loans, but you typically have a few months to pay back what you owe. Check to see if a lender that offers payday loans in Providence also offers installment loans — it may make it easier to repay.
  • Auto title loans. Some lenders offer short-term loans that use car title as collateral. This can help keep interest rates low, but be cautious: If you fail to repay your loan, you may have your car repossessed.

Bottom line

You’ll have multiple options when it comes to borrowing a short-term loan in Providence, Rhode Island. Thanks to the cap on financing fees, you won’t have to worry about your loan costing too much — though it can still be quite expensive.

If you’re not sure of your next step, you can read more about payday loans in our guide to be sure you’re making an informed choice.

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