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Compare your loan options in North Carolina

Thinking about applying for a payday loan in North Carolina? Check this guide first.

While payday loans are often advertised as a good backup in case of emergency, if you’re a resident of North Carolina, you should consider other options.

Check out this guide to payday lending in North Carolina.

Are payday loans legal in North Carolina?

Payday loans are illegal in the state of North Carolina.

The North Carolina General Statutes 53-281 and the North Carolina Consumer Finance Act (N.C. Gen. Stat. 53-173) govern check cashing businesses and prohibit payday lending. Payday loans have been illegal in North Carolina since 2001, but more recent amendments make it nearly impossible for payday lenders to find loopholes.

All cash advance lenders in North Carolina who previously operated have either ceased business or have started complying with the required small loan interest cap of 36% APR.

Keep in mind that if you choose to apply for any kind of loan or line of credit, it’s very important read all the paperwork (including all the fine print) before signing.

Installment loans you can apply for

You can find lenders who provide installment loans to applicants who have poor or bad credit, provided they can demonstrate an ability to repay. Just remember that the interest on these loans is high so you will face similar risks as you would with a payday loan.

Rates last updated September 25th, 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
OppLoans Installment Loans
Get a better installment loan repayment terms up to 36 months, depending on your state.
$4,000
9 to 36 months
1 business day
Slam Dunk Loans
Get approved for a cash loan today with this lender matching service offering short term funding. Availability depends on your state of residence.
$2,500
Varies by lender
As soon as next business day
NetCredit Installment Loan
Build a positive credit history with on-time payments through flexible repayment options that include credit card and money transfer.
$10,000
Varies upon state
1-3 business days
HonestLoans Installment Loans
$2,500
Varies by lender
As soon as one business day
Blue Trust Loans Installment Loans
Get an installment loan you don't have to pay back in one lump sum.
$2000
6 months
As soon as next business day
MaxLend Installment Loans
$2,000
6 months
As soon as the next business day
Cash Central Installment Loan
Pay monthly or biweekly over six to 24 months with lower APRs over your typical payday loan.
$5,000
6 to 24 months
Next Business Day

Compare up to 4 providers

What other options do I have if I need extra cash in North Carolina?

You might not be able to get a payday loan in North Carolina, but there are other channels to go down.

  • Tribal loans. You have the option of getting a payday loan if you go through a tribal lender like SWIFT or Blue Trust Loans. Since these lenders are based on tribal land, they are considered a sovereign entity and are able to give loans despite the laws of your state.
  • Apply for a credit card. Whether you have good or bad credit, there is a huge selection of credit cards worth considering if you need extra money. Credit cards also have more reasonable payments and lower interest rates.
  • Payday loans from other states. If you’re in North Carolina temporarily but are normally a resident of a state where payday loans are legal, you can apply for an online payday loan. To do this you’ll have to provide documented evidence of your residence in another state. Also make sure the lender is backed by the Online Lenders Alliance or similar.
  • Pick up side work. Looking for side jobs, selling things online with a provider like eBay or LetGo, or signing up to drive with a company like Uber are some of the many ways people get extra cash when they’re in a bind. It’s a great alternative to getting a loan or credit card because there is nothing to repay.

This page will give you more information on the alternatives to payday loans

What are the typical costs of a loan in North Carolina?

When you take a loan in North Carolina, you’ll have to pay the principal amount along with interest.

You may have to pay additional fees in different circumstances. If you don’t make a payment on time you may have to pay a late charge. If a check does not go through because of insufficient funds in your account, your lender may charge a non-sufficient funds (NSF) fee. Some lenders can also charge application fees and loan disbursement fees, and they might even charge you if you choose to repay your loan amount early.

Where are payday loans available?

Have any more questions about North Carolina payday loans?

Yes, but remember that your approval depends on your eligibility.

The high APR these loans come with and the high fees borrowers have to pay are some of the reasons payday loans are illegal.

No, it is not. Out-of-state lenders cannot legally provide payday loans to residents of North Carolina unless they are a tribal lender.

You should contact the office of the North Carolina Attorney General or the Commissioner of Banks.

No, they aren’t. This is due to the high interest rates and the frequency of borrowers defaulting on their loans.

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2 Responses

  1. Default Gravatar
    TammyJune 21, 2017

    How do I apply for a loan?

    • Staff
      JasonJune 21, 2017Staff

      Hi Tammy,

      Thank you for your enquiry.

      Please compare your loan options above and click the name of your preferred lender to find out the details and the minimum eligibility of the lender. You may then click the green “Go to Site” button of your preferred lender or loan option to submit your loan application online.

      Please ensure that you meet the eligibility criteria and requirements of the loan option or lender and make sure to read the details, as well as the relevant PDS/ T&Cs of the loan option before making a decision and consider whether the product or option is right for you.

      Kind regards,
      Jason

US Payday Loans Offers

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Slam Dunk Loans

Get approved for a cash loan today with this lender matching service offering short term funding. Availability depends on your state of residence.

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

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OppLoans Installment Loans

Get a better installment loan repayment terms up to 36 months, depending on your state.

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