Compare your loan options in Delaware

Need to learn about the intricacies involved in getting a Delaware short term loan? Find out what you need to know below.

There’s never a good time to run into financial trouble, but if you’re weeks away from your payday it can feel inescapable. If you’re low on funds and need to get to your next paycheck, take care of an emergency cost or even just surprise a loved one with something nice, a short term loan might be a viable option.

Many residents of Delaware turn to short term loans, also known as payday loans, when they need money in a hurry. If you’re thinking about getting one, learn what’s involved first.

MoneyKey Installment Loan

MoneyKey Loans

Apply for a payday loan, installment loan or line of credit conveniently online and enjoy great customer service.

  • Minimum loan amount: $200
  • Maximum loan amount: $1,000 (unless otherwise stated)
  • Turnaround time: As soon as 1 business day*, depending on your bank's policies
  • Loan term: Varies by state
  • Good credit not required
  • Confidential and secure
  • Must have a valid bank account, phone number and email address
  • Must be 18+ years old and have a regular source of income

    Are payday loans legal in Delaware?

    Yes, payday loans in Delaware are legal. Delaware Code Title 5 2227 et seq. (the small loans act) governs the functioning of all payday lenders in this state. The maximum you can borrow through a payday loan in Delaware is $1,000.

    You cannot get a payday loan if you exceed the limit of five short-term loans in any 12-month period. This includes instances of refinancing and loan rollovers. As a borrower you have the right to rescind a payday loan before the end of the business day that follows when you receive funds.

    A selection of loans you could apply for

    Check the websites of any providers you’re interested in to confirm they operate in your state of residence.

    Rates last updated October 18th, 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
    MoneyKey Installment Loan
    Apply for money when you need it and receive your funds 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 a regular income.
    Slam Dunk Loans
    Potentially get approved for a short-term loan through this lender-matching service, even with poor credit history.
    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.
    OppLoans Installment Loans
    Installment loans with competitive rates from a top-rated direct lender.
    9 to 36 months
    1 business day
    Open only to residents of AL, CA, DE, GA, KS, ID, IL, MO, MS, NM, OH, SC, TN, TX, UT, VA and WI. Must have direct deposit to demonstrate sufficient monthly income.
    HonestLoans Installment Loans
    Get a flexible installment loan with fast funding through one easy online application form.
    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.
    NetCredit Installment Loan
    Build a positive credit history with on-time payments and flexible repayment terms. Check your rate without affecting your credit score.
    Varies upon state
    1-3 business days
    Must be 18+ years old, a legal resident of the US and have a Social Security number. Minimum credit score of 550.
    Blue Trust Loans Installment Loans
    Get an installment loan from an online tribal lender. Perks for returning borrowers.
    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.

    Compare up to 4 providers

    How a Delaware short term loan might help you

    Short term loans, payday advances, payday loans and cash advances refer to the same kind of credit. Getting a short term loan in Delaware can work in your favor, provided you know what you’re getting into ahead of time. Here’s why you might think about getting one:

    • Bad credit is okay. Seeking conventional credit can be a challenge if you have poor or bad creditworthiness. Short term loan providers assess your immediate financial situation and ability to repay, rather than your credit rating.
    • Multiple options. There are plenty of short term lenders in Delaware. While you can locate lenders that have stores, you’ll find many more options online. Remember that not all providers offer the same levels of service or charge the same fees.
    • Get money quickly. If you apply at a storefront you can get your hands on the money you need minutes after the lender approves your application, which is a quick process. If you apply online, the funds can be transferred into your bank account on the same day or by the next business day, depending on when you apply.

    Local payday loans in your city directory

    What fees and charges do Delaware short term loans attract?

    • APR. Under state laws, payday lenders in Delaware can charge interest at a daily, weekly, monthly, or annual percentage rate, as agreed upon in the loan agreement. There is no upper limit to the interest a lender can charge.
    • Collection fees. A lender can charge reasonable fees for services rendered as well as for reimbursement of expenses. It can charge collection fees only once, and these are limited to 5% of the payment amount.
    • Rollover fees. If your lender permits you to defer an installment payment, you may have to pay a deferral charge. Refinancing the loan could result in a refinancing charge. If you rollover your loan, additional fees may apply.

    How can I apply for a Delaware short term loan?

    You can apply for a Delaware cash advance online or by visiting a store-front. To apply, you’ll have to meet some eligibility criteria, which include:

    • You should be at least 18 years of age
    • You should be an American citizen or a permanent resident of the US
    • You should have a regular source of income

    To complete your application successfully, prepare to submit some basic information:

    • Your name, date of birth, social security number and a valid form of ID such as your driver’s license or passport
    • Your residential address, email address and phone number
    • Details about your employment and income
    • If you’re applying online, details of your existing checking account

    Important information about payday loans

    While payday loans can be beneficial for some, they aren’t always the best option for everyone. Follow the link for more information on payday loan alternatives.

    8 alternatives to payday loans

    Have any more questions about Delaware short term loans?

    The maximum loan term for these loans is 60 days.

    Yes, you cannot rollover payday loans in Delaware more than four times.

    You should get in touch with the Delaware Office of the State Bank Commissioner.

    Where else are payday loans available?

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    US Payday Loans Offers

    Learn about our information service
    Slam Dunk Loans

    Potentially get approved for a short-term loan through this lender-matching 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.