Editor's choice: OppLoans Installment Loans
- Easy online application
- Quick approval
- Long repayment terms
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
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 In 2001, the state repealed the North Carolina General Statutes 53-281.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.
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.
Find fast cash near you and learn about the regulations in Arlington.
Find a short-term loan near you in the Biggest Little City in the World.
Find a lender near you, and learn about what you need to apply.
Find a provider near you, but beware of tribal lenders.
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.