Editor's choice: OppLoans Installment Loans
- Easy online application
- Quick approval
- Long repayment terms
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If you’re short on cash and looking for quick funds to get you by, you might be considering a payday loan. Our guide offers other options you might want to consider when you can’t get a payday loan in Raleigh.
No. Payday loans are prohibited in North Carolina. In 2001, the state repealed the North Carolina General Statutes 53-281. Amendments that the state have made since have also restricted lenders from offering payday loans or similar options.
All payday lenders that previously operated in Raleigh have either shut up shop or started offering loans in compliance with the new regulations. For example, a small loan provider in Raleigh can’t charge an annual percentage rate (APR) of more than 36% according to the North Carolina General Statutes 53-173, cited as the Consumer Finance Act.
An installment loan has longer repayment terms and lower costs than a payday loan. You’ll find some installment loan providers offer loans in Raleigh, North Carolina.
While payday loans are illegal in Raleigh, you have other options to get money or credit when you need it.
Capped rates and a variety of local lenders make it easy to shop for a loan.
Wise Loan may be an expensive choice, but it’s upfront about its costs.
This lender is transparent about fees — but still a risky choice.
North Carolina mortgage rates fall in line with the national average.
North Carolina may have high motorcycle insurance requirements, but premiums hover slightly above the national average.
A report from ProPublica has found that payday lenders have developed a new tool to get late payers to pay: jail.
Search our national list of USDA approved lenders and compare providers that can help you get a USDA loan.
Borrow up to $1,000 with this tribal lender — but keep an eye out for exorbitant fees.
Apply in person and get funds the same day — but watch out for high costs.
Learn where to find a Community Financial Development Institution for affordable financing in your area.
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