Payday loans in Raleigh, North Carolina

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.

Can I 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 In 2001, the state repealed the North Carolina General Statutes 53-281.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.
Read all about North Carolina payday loan laws

Why are payday loans illegal in Raleigh?

Because Raleigh must follow the laws of North Carolina and North Carolina has banned the practice, you won’t be able to get a payday loan in the city. This is because many consumer advocate groups and lawmakers consider payday lending a predatory practice designed to keep people in debt. You can find other options below.

Installment loan options you might want to consider

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.

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Name	Loan amount	Turnaround time	Requirements
OppLoans Installment Loans Finder Rating: 4.7 / 5: ★★★★★ OppLoans Installment Loans Finder Rating: 4.7 / 5: ★★★★★	$500 to $4,000	As soon as the same business day.	+18 years old, Receive paychecks through 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.	Go to site More Info	Compare	loading Fetching your data...
LendYou Short-term Loans Finder Rating: 2.5 / 5: ★★★★★ LendYou Short-term Loans Finder Rating: 2.5 / 5: ★★★★★	$100 to $1,000	Same business day to 1 business day	$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.	Go to site More Info	Compare	loading Fetching your data...
Fast5kLoans Short-term Loans Connection Service Finder Rating: 3.5 / 5: ★★★★★ Fast5kLoans Short-term Loans Connection Service Finder Rating: 3.5 / 5: ★★★★★	$100 to $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.	Go to site More Info	Compare	loading Fetching your data...
Fig Loans Installment Loans Not rated yet Fig Loans Installment Loans Not rated yet	$200 to $800, varies by state	As soon as the same business day	3 months of direct deposits, $1400 per month income, positive bank account balance	Get an affordable installment loan that comes with no fees, flexible terms and predictable monthly repayments.	Go to site More Info	Compare	loading Fetching your data...

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The Consumer Financial Protection Bureau (CFPB) no longer requires lenders to consider your ability to repay a loan. If you don’t repay a short-term loan on time, you could end up owing several times the amount you borrowed. Carefully review your finances and the loan cost to make sure it fits your budget.

Before you take out a short-term loan

Payday loans, installment loans and auto title loans come with high rates and fees, which can trap you in a cycle of debt. The majority of short-term loan borrowers renew their loan at least once, piling on fees that make it even more difficult to repay.

Consider alternatives before opting for a payday, installment or title loan:

Local resources. Government agencies, nonprofits and local charities often offer free financial services and help with food, utilities and rent for those in need.
Payment extensions. Talk with your bill providers about a longer payment plan or extension on your due date if you're behind on payments.
Credit cards. Credit cards typically charge lower interest rates than short-term loans, even on cash advances, making them a flexible, less costly alternative for up to the $500 you can typically take out with a payday loan.

How else can I get money in Raleigh?

While payday loans are illegal in Raleigh, you have other options to get money or credit when you need it.

Apply for an installment loan. Installment loans have longer terms than payday loans. You pay back what you borrow in equal installments over a set schedule. If you apply for one, remember that the APR can’t be more than 36%.
Look into tribal loans. You can find a tribal lender. Since these lenders are based on tribal land, they are considered a sovereign entity and are able to provide loans to residents of North Carolina.
Check out local social services. Public assistance programs like the North Carolina Food and Nutrition Services (FNS) and the Crisis Intervention Program can help you when you’re struggling to make ends meet.

Browse even more alternatives in your state

Cash advance locations in Raleigh, NC

Cash advance locations in Raleigh

Lendmark Financial Services. 6210 Plantation Center Dr #107, Raleigh, NC 27616
Raleigh Durham Check Cashers. 2235 New Hope Church Rd, Raleigh, NC 27604, USA
Raleigh Durham Check Cashers. 3225 Capital Blvd, Raleigh, NC 27604
Regional Finance. 1829 Capital Blvd Suite 105, Raleigh, NC 27604
Picasso Pawn. 1609 Capital Blvd, Raleigh, NC 27604
New Southern Loans, Inc. 7041 Knightdale Blvd, Knightdale, NC 27545
Dalia Check Cashing. 5525 Western Blvd, Raleigh, NC 27606

Plaza West Jewelry & Loan Inc. 133 Jones Franklin Rd, Raleigh, NC 27606
Lendmark Financial Services LLC. Lexington Dr, Raleigh, NC 27606
Check Cashing Of Raleigh. 1100 Raleigh Blvd, Raleigh, NC 27610
New Bern Check Cashing. 1609 New Bern Ave, Raleigh, NC 27610,
Check Cashing & More Inc. 1410 New Bern Ave, Raleigh, NC 27610
Picasso Pawn. 2609 S Saunders St, Raleigh, NC 27603, USA

Frequently asked questions

Can I get an auto title loan in Raleigh?
No. Since auto title lenders offer similar interest rates and terms to payday lenders, North Carolina has also outlawed auto title loans.
Can I get a payday loan from another state?
No. Whether you visit another state or find a lender online, these are required to abide by North Carolina’s usury laws, meaning they can’t offer a loan with an APR of more than 36%.
What should I do if I have a complaint about a lender?
Contact the office of the North Carolina Attorney General or the Commissioner of Banks.

Thank you for your feedback!

Aliyyah Camp

Aliyyah Camp is a SEO content strategist and former publisher at Finder, specializing in consumer and business lending. Her writing and analysis has been featured in CentSai, the Dough Roller and the Chicago Tribune. She holds a BA in communication from the University of Pennsylvania.

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