Arkansas payday loans

Compare your loan options in Arkansas

If you’re looking for a payday loan in Arkansas, you may need to consider other options

If you’re in need of quick cash and are looking for a small loan, getting one from a payday lender may have crossed your mind. This guide will help you navigate the laws surrounding short-term lending in Arkansas.

Can i get a payday loan in Aransas?

No. Payday loans aren’t legal in Arkansas. The Check Casher Act, as defined by Arkansas Code 23-52-101 et. seq, was repealed in 2011. However, some lenders may still provide installment loans.

Installment loans you can apply for

Rates last updated November 20th, 2017
Unfortunately, none of the short term loan providers currently offer loans in your state. Learn more about short term loans in your state to find an alternative.
Name Product Product Description Maximum Loan Amount Term of Loan Turnaround Time Requirements
OppLoans Installment Loans
Installment loans with competitive rates from a top-rated direct lender.
$4,000
9 to 36 months
1 business day
Open only to residents of AL, CA, DE, GA, KS, ID, IL, MO, MS, NV, NM, OH, SC, TN, TX, UT, VA and WI. Must have direct deposit to demonstrate sufficient monthly income.
Slam Dunk Loans
Potentially get approved for a short-term loan through this lender-connection service, even with poor credit history.
$2,500
Varies by lender
As soon as next business day
Must be employed, receive regular income, earn at least $800 a month, have a checking account, be 18+ yrs old and a US citizen.
CashNetUSA Loan
Apply for a short-term loan with an easy online application and dedicated customer service.
Varies by state
Varies by state
1 business day
You must be a US citizen or permanent resident, be at least 18 years old and have regular income and a bank account.
Blue Trust Loans Installment Loans
Get an installment loan from an online tribal lender. Perks for returning borrowers.
$2,000
6 months
As soon as next business day
Must be at least 18 years old and have a verifiable source of income with direct deposit into your checking account.
HonestLoans Installment Loans
Get a flexible installment loan with fast funding through one easy online application form.
$2,500
Varies by lender
As soon as one business day
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.
MoneyKey-arranged or MoneyKey Installment Loan
*Apply for money when you need it and receive your funds in as quickly as one business day.
$1,000 (unless otherwise stated)
Varies by state
1 business day*
You must be a permanent US resident or citizen, at least 18 years old, and have regular income.

Compare up to 4 providers

What other options do I have if I need extra cash?

While you can’t get a payday loan or a cash advance in Arkansas, you can get funds in other ways. Your options include:

  • Tribal loans. You may consider going through a tribal lender.
  • Credit card cash advance. If you have a credit card, consider a cash advance. This usually has lower interest than payday loans and can help you get through a rough financial period.
  • Consolidate your debt. Depending on your credit score, you may be able to consolidate your debt through one larger loan, usually with lower interest and smaller monthly payments.

You may also want to look into assistance programs like the Home Energy Assistance Program (HEAP) or Food Stamp Program when you’re struggling to pay your bills. These can lower your daily expenses so you can afford to pay for other, more expensive things.

Take a look at some payday loan alternatives

How much will a loan in Arkansas cost?

When you get credit, you have to repay the principal along with interest in addition to other fees and charges. The cap on interest is 17%, however it could be lower depending on your credit score, the amount you wish to borrow, the loan term, the type of credit and the lender you choose.

Lenders can charge the following fees:

  • Application fees
  • Loan disbursement fees
  • Loan settlement fees
  • Late fees
  • Non-Sufficient Funds (NSF) fees

To find out how much your loan may end up costing you, go through the loan contract carefully. You’re under no obligation to sign, and comparing your options can help you pick out the best solution for your financial troubles.

Bottom line

Although you won’t be able to get a payday loan in Arkansas, there are other short-term loan options that can help you get the money you need whenever an emergency hits. Just keep in mind that all forms of credit are costly and you’ll end up paying back more than what you borrow.

Have any more questions about Arkansas short-term loans?

You should contact Arkansas State Attorney General. If you’ve accidentally accepted an illegal payday loan, you dont have to pay. Inform the State Attorney General and deal with the matter lawfully.

Yes. Under state regulations, lenders can’t charge an APR of more than 17% per loan.

No. Due to the high interest rates, auto title loans are also illegal in Arkansas.

No, it isn’t. Out-of-state lenders can’t provide payday loans to residents of Arkansas, with the exception of tribal lenders. If you find an online lender offering a payday loan, report it to the State Attorney General.

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4 Responses

  1. Default Gravatar
    KkOctober 31, 2017

    I have bad credit but need a medical loan for $8,500 and I can put my car up for collateral but who will take a chance with me being young and having bad credit?

    • Staff
      HaroldNovember 1, 2017Staff

      Hi Kk,

      Thank you for your inquiry.

      You may find difficult find a loan when you have a low credit score. But there are lenders who considers people with bad credit where you can apply for.

      I hope this information has helped.

      Cheers,
      Harold

  2. Default Gravatar
    JenniferAugust 14, 2017

    I need a loan to start a seasonal business I need about $8,000 til Nov 2017 I have horrible credit but is there a chance someone may help. Please I’m desperate

    • Staff
      HaroldAugust 15, 2017Staff

      Hi Jennifer,

      Thank you for your inquiry.

      You may want to consider the small business loan options here. – http://bit.ly/2vXD0JW

      I hope this information has helped.

      Cheers,
      Harold

US Payday Loans Offers

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Slam Dunk Loans

Potentially get approved for a short-term loan through this lender-connection service, even with poor credit history.

LendUp Payday Loans

LendUp offers $250 loans for first-time borrowers. Good credit is not required. Visit the site to see if available in your state.

Check into Cash Payday Loan

With 1,000 branches in 30 states, get $50 to $1,000 in days from this direct lender.

OppLoans Installment Loans

Installment loans with competitive rates from a top-rated direct lender.