raleigh NC

Compare your loan options in Raleigh, North Carolina

We value our editorial independence, basing our comparison results, content and reviews on objective analysis without bias. But we may receive compensation when you click links on our site. Learn more about how we make money from our partners.

This is what you’ll need to know if you’re considering a payday loan.

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.

Our top pick: LendYou Short-term Loans

  • Min. Loan Amount: $100
  • Max. Loan Amount: $15,000
  • Turnaround Time: 1 business day
  • Loan Term: Varies
  • Requirements: $1,000+ monthly income, direct deposit, US citizen or permanent resident, ages 18+
  • Simple application
  • Quick decision
  • Bad credit OK

Our top pick: LendYou Short-term Loans

Get offers from potential lenders in minutes by filling out just one online form.

  • Min. Loan Amount: $100
  • Max. Loan Amount: $15,000
  • Turnaround Time: 1 business day
  • Loan Term: Varies
  • Requirements: $1,000+ monthly income, direct deposit, US citizen or permanent resident, ages 18+
Promoted

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 In 2001, the state repealed the North Carolina General Statutes 53-281.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.

Updated October 19th, 2019
Name Product Filter Values Max. Loan Amount Turnaround time Requirements
$1,200
As soon as the next business day
Regular source of income received biweekly or semi-monthly, Missouri or Utah resident, checking account with automatic deposits, not a military service member
Borrow up to $1,200 — but only if you live in Missouri or Utah.
$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.
$5,000
1 business day
Direct deposit, meet minimum income requirements
Comes with the option to change your due date so you won’t fall behind on repayments.
$2,600
1 to 2 business days
Active checking account, regular source of income, email address
Get access to tools to help you plan a career move, make some extra cash or search for a better-paying job.
$50,000
Same business day to 1 business days
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.
Get a flexible installment loan with fast funding through one easy online application form.
$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.
$10,000
As early as 1 business day
$1,000+ monthly income after taxes, valid checking account
Explore its online education center to get tips on budgeting, how to prioritize your bills and more.
Varies by state
1 business day
Regular source of income, bank account, US citizen or permanent resident, ages 18+
Sign up for its discount program to get access to coupons and deals on everything from dining out to tax services.

Compare up to 4 providers

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

Was this content helpful to you? No  Yes

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site