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Compare short-term loans in Ohio

Borrow up to $1,000 and find out how much it'll cost you.

Editor's choice: Tidal Lending

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  • Long repayment terms
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Elizabeth Barry
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When you have unplanned expenses and are on a tight budget, a payday loan could be helpful. Payday loans, a type of short-term loan, give you quick access to money when you need it. Read on to find out about the laws in Ohio and everything else you should know about how payday advances work.

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Name Product Filter Values Loan amount Turnaround time Requirements
Tidal Lending
Tidal Lending
$100 to $30,000
As Soon As Next Business Day
Regular source of income, Verifiable bank account, US citizen, Ages 18+
Go to site
OppLoans Installment Loans
OppLoans Installment Loans
$500 to $4,000
1 business day
Direct deposit, Meet minimum income requirements, Live in eligible state
Comes with the option to change your due date so you won’t fall behind on repayments.
Go to site
More Info
Chime SpotMe overdraft
Chime SpotMe overdraft
Up to $200
Instant
$200 in qualifying direct deposits into a Chime checking account in the last 34 days
Go to site
More Info
Possible Finance Mobile Installment Loans
Possible Finance Mobile Installment Loans
Up to $500
As fast as 1 business day
Checking account with 3+ months of banking history, $750+ monthly income, live in eligible state, ages 18+
Borrow up to $500 with just a few swipes — but only for residents of 5 states.
Go to site
More Info
CashNetUSA Loan
CashNetUSA Loan
Varies by state
As fast as same business day
Regular source of income, bank account, US citizen or permanent resident, age of majority in your state
Sign up for its discount program to get access to coupons and deals on everything from dining out to tax services.
Go to site
More Info
Fast5kLoans Short-term Loans Connection Service
Fast5kLoans Short-term Loans Connection Service
$100 to $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.
Go to site
More Info
Monevo Installment Loans
Monevo Installment Loans
$500 to $100,000
Varies by lender
Credit score of 500+, legal US resident, ages 18+
Quickly compare multiple online lenders with competitive rates depending on your credit.
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More Info
BadCreditLoans.com
BadCreditLoans.com
$500 to $10,000
Varies
Depending on lender requirements, people from all 50 states may not be eligible for a personal loan.
With straightforward, simple qualifications, these loans offer easy approval for people with poor credit.
Go to site
More Info
LendYou Short-term Loans
LendYou Short-term Loans
$100 to $2,500
Same business day to 1 business day
$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.
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Brigit
Brigit
Up to $250
1 to 3 days or same-day in some circumstances
Bank account must have at least 60 days of activity, Balance must be above $0 and have an average minimum balance on pay day
Have up to $250 automatically deposited into your account — for a $9.99 membership fee.
Go to site
More Info
Tidal Lending
Tidal Lending
$100 to $30,000
As Soon As Next Business Day
Regular source of income, Verifiable bank account, US citizen, Ages 18+
Go to site
OppLoans Installment Loans
OppLoans Installment Loans
$500 to $4,000
1 business day
Direct deposit, Meet minimum income requirements, Live in eligible state
Comes with the option to change your due date so you won’t fall behind on repayments.
Go to site
More Info
Chime SpotMe overdraft
Chime SpotMe overdraft
Up to $200
Instant
$200 in qualifying direct deposits into a Chime checking account in the last 34 days
Go to site
More Info
Possible Finance Mobile Installment Loans
Possible Finance Mobile Installment Loans
Up to $500
As fast as 1 business day
Checking account with 3+ months of banking history, $750+ monthly income, live in eligible state, ages 18+
Borrow up to $500 with just a few swipes — but only for residents of 5 states.
Go to site
More Info
CashNetUSA Loan
CashNetUSA Loan
Varies by state
As fast as same business day
Regular source of income, bank account, US citizen or permanent resident, age of majority in your state
Sign up for its discount program to get access to coupons and deals on everything from dining out to tax services.
Go to site
More Info
Fast5kLoans Short-term Loans Connection Service
Fast5kLoans Short-term Loans Connection Service
$100 to $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.
Go to site
More Info
Monevo Installment Loans
Monevo Installment Loans
$500 to $100,000
Varies by lender
Credit score of 500+, legal US resident, ages 18+
Quickly compare multiple online lenders with competitive rates depending on your credit.
Go to site
More Info
BadCreditLoans.com
BadCreditLoans.com
$500 to $10,000
Varies
Depending on lender requirements, people from all 50 states may not be eligible for a personal loan.
With straightforward, simple qualifications, these loans offer easy approval for people with poor credit.
Go to site
More Info
LendYou Short-term Loans
LendYou Short-term Loans
$100 to $2,500
Same business day to 1 business day
$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.
Go to site
More Info
Brigit
Brigit
Up to $250
1 to 3 days or same-day in some circumstances
Bank account must have at least 60 days of activity, Balance must be above $0 and have an average minimum balance on pay day
Have up to $250 automatically deposited into your account — for a $9.99 membership fee.
Go to site
More Info
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Payday loans, and other short-term loans, are a useful tool when you’re facing a tough financial situation, but Ohio hasn’t always had the best regulations. With new regulations in place and more flexibility in loan terms, you may be able to avoid paying high fees. Just make sure your lender is up-to-date with Ohio’s laws before you borrow.

Can I get a payday loan in Ohio?

Yes. In October 2018, Ohio changed its regulations for payday loans – and other short-term loan options – to better enforce the interest rate cap and prevent lenders from charging consumers hefty fees.

Under the Ohio Revised Code Ann. 1321.35 et seq, payday loans have an interest rate cap of 28%. The lender you borrow from must be licensed by the state of Ohio, and when you borrow, you’ll face these restrictions:

  • Maximum loan amount: $1,000
  • Minimum loan term: 91 days
  • Maximum loan term: 1 year
  • Interest: 28%
  • APR: 60%
  • Monthly maintenance fee: 10% of the principal or $30, whichever is lesser
  • Origination fee: 2% of a loan amount greater than $500
  • Check collection charge: $20
  • Prepayment penalty: Lenders can’t charge a prepayment penalty

Your loan may be less than 91 days if the total monthly payment on your loan doesn’t exceed 6% of your gross monthly income or 7% of your net monthly income, whichever is greater.

These laws make payday loans more difficult to come by, so you should expect to find more lenders offering installment loans. Make sure you review your loan contract carefully. If a lender doesn’t abide by these new regulations and attempts to charge you excessive fees, stay away. There are plenty of lenders out there, so don’t settle for one that’s willing to skirt the law.

What happens when I get a payday loan?

Lenders are required to provide you with a loan contract must be provided to you and include the terms and conditions of the loan, the total amount you need to pay back to your lender, when your payments are due and a warning about the high cost of a short-term loan.

If you agree to take out a loan, you have the right to cancel your loan by 5 p.m. on the third business day after your loan contract is finalized. A lender is also limited in the amount of times it can attempt to collect your payment: it is not permitted to collect from your account after two failed consecutive attempts.

Ohio law also sets a cap on the total amount you can have out at any time. You may have no more than $2,500 in short-term loans borrowed and will be required to sign a declaration that you can legally borrow the loan.

If I have a problem with a lender, who should I contact?

If a lender has violated any of Ohio’s regulations, contact the Ohio Department of Commerce Division of Financial Institutions to file a complaint. A violation on the lender’s part voids your loan contract, meaning you won’t be held responsible to pay back any principal, interest, fees or other charges.

Payday loan alternatives in Ohio

Payday loans, and other short-term loan options, aren’t always the right choice if you’re struggling with bills and have consistent financial issues. To lower your daily costs, you may want to look into assistance programs like Medicaid, the Emergency Food Assistance Program (TEFAP) or the Home Energy Assistance Program (HEAP). You can also browse your other payday loan alternatives to see how else you can avoid taking out a high-cost loan.

Bottom line

With recent changes to Ohio’s payday loan laws, you’re in a better position to save money when you need a short-term loan. However, this doesn’t mean it won’t cost you. Payday loans are still an expensive option, so carefully compare your options before settling on a lender.

Frequently asked questions

Do I have to provide proof of income?

Yes. You must provide your lender with a recent pay stub or other evidence of recurring income within the past 45 days.

Can I cancel my loan?

Yes. Ohio law gives you the right to cancel your loan by 5 p.m. on the third business day after you finalize your loan contract.

Can I refinance my loan?

Yes. You can refinance your loan. Your lender may not charge or collect a monthly maintenance fee, and if you repay or refinance your loan before the due date, your lender is required to refund a prorated portion of your interest and other charges.

Can a lender take criminal action against me if I don’t repay a payday loan?

No, but the lender can initiate civil action and you may be liable for damages up to the original amount you borrowed.

Are auto title loans legal in Ohio?

No. Lenders can’t accept the title or registration of a vehicle or other assets as collateral for a short-term loan.

Can I get a loan over the phone or by mail?

No. Ohio law specifically prohibits lenders and short-term loan brokers from lending to borrowers over the phone or by mail.

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    12 Responses

    1. Default Gravatar
      AngelaJanuary 28, 2019

      If someone took out a title loan with unreal payback rates can they take your car

      Reply
      • Avatarfinder Customer Care
        johnbasanesJanuary 29, 2019Staff

        Hi Angela,

        Thank you for reaching out to finder.

        Though it may seem that the payback rates are a bit high, the loan company could still take your car as payment for the delinquency. This though needs a court action for it to be done unless otherwise stated in your contract with the loan company. It is best to work a solution out with the company for a win-win situation prior to making any decision. Hope this helps!

        Cheers,
        Reggie

        Reply
    2. Default Gravatar
      ANGELICJune 18, 2018

      I have a prepaid DEBIT card and want to know where can i get a loan at.

      Reply
      • Avatarfinder Customer Care
        JoanneJune 19, 2018Staff

        Hi Angelic,

        Thanks for reaching out.

        You may visit and check on lenders offering a prepaid debit card loan.
        The page will guide you on what you need to know about what prepaid debit cards can help you access your loan funds without a bank account or strong credit.

        Hope this helps,
        Joanne

        Reply
    3. Default Gravatar
      CarolOctober 2, 2017

      How can I get a $500 dollar loan within 1-2 days without a savings or checking account.

      Reply
      • Default Gravatar
        JonathanOctober 2, 2017

        Hello Carol,

        Thank you for your inquiry.

        There are lenders which allow prepaid cards to be used as a settlement of your proceeds or cash pick-up. You may need to inquire about its availability as this varies per lender.

        Please be reminded to check the loan requirements and eligibility before applying.

        Hope this helps.

        Cheers,
        Jonathan

        Reply
    4. Default Gravatar
      CaseySeptember 27, 2017

      Can I get a emergency loan in Ohio even though I live in Indiana

      Reply
      • Default Gravatar
        JonathanSeptember 28, 2017

        Hello Casey,

        Thank you for your inquiry.

        Generally, this is not allowed as lenders would need to still verify your state of residence.

        However, there may be cases it can be considered, so long as you have temporary residence in that state. This is largely on a case-by-case basis depending on your lender. You can read more information from our guide called payday loan in another state.

        Hope this helps.

        Cheers,
        Jonathan

        Reply
    5. Default Gravatar
      TonyJune 27, 2017

      Can you get a payday loan in Michigan and Ohio?

      Reply
      • Avatarfinder Customer Care
        JasonJune 27, 2017Staff

        Hi Tony,

        Thank you for your inquiry.

        Payday loan options are legal in both Michigan and Ohio and, as long as you meet the eligibility criteria and requirements of the lenders, you may apply for a payday loan in those mentioned territories.

        Please check our guide on applying for a payday loan in Michigan and please check out the details above for the payday loan guide for Ohio residents.

        I hope this helps.

        Kind regards,
        Jason

        Reply
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