Pennsylvania has strict restrictions on what you can be charged, but there are some short-term options.
Although Pennsylvania law doesn’t allow payday loans, there are plenty of other options you can consider, including installment loans and other payday loan alternatives.
Our top pick: LendYou Short-term Loans
- Simple application
- Quick decision
- Bad credit OK
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+
Are payday loans legal in Pennsylvania?
No. Under the Check Cashing Licensing Act of 1998, 505(a), lenders are prohibited from issuing a loan as an advance on a postdated check. This includes ACH transfers from bank accounts, and online lenders are also required to be licensed in Pennsylvania, which means they must follow this regulation.
Compare installment loan options in Pennsylvania
What other options do I have if I need extra money in Pennsylvania?
There are quite a few state-run programs in Pennsylvania to help you care for yourself and your family while in a tough financial situation, and you can find more by visiting the Pennsylvania Department of Human Services website.
- Supplemental Nutrition Assistance Program (SNAP)
- Low-Income Home Energy Assistance Program (LIHEAP)
- Temporary Assistance to Needy Families (TANF)
- Cash Assistance
- Medical Assistance (MA) / Medicaid
Are there any other short-term options in Pennsylvania?
Yes. Beyond public assistance, there are multiple payday loan alternatives available to you, including:
- Debt consolidation loan. If you have multiple loans out at once, you can apply for a debt consolidation loan. Rather than making multiple payments with varying interest rates, you’ll make one payment with a single, usually lower, interest rate. It should help save you money in the long run. Debt consolidation loans typically require you to have good to excellent credit.
- Negotiate with your creditors. When you’re unable to afford a payment, consider contacting your creditors and requesting a lower monthly payment. Creditors want to get paid and will often be willing to work with you to make this happen.
- Seek credit counseling. A credit counselor can be a good way to get a handle on your debt and learn important financial skills. There are many free services out there to help so give a few a call.
What costs can I expect with a loan in Pennsylvania?
Under Pennsylvania Statutes Title 7 P.S. Banks and Banking § 6213, lenders in Pennsylvania are unable to charge an APR over 6% on loan amounts under $25,000. They are also required to comply to the Small Loan Rate Cap, which limits the amount of interest a lender can charge each year. The exact cap depends on the length of the loan term:
- Under 48 months. $9.50 per $100 for the entire loan term.
- Over 48 months. $9.50 per $100 for the first 48 months of the loan term; $6 per $100 for the remainder of the loan agreement.
Lenders are also required to limit the service charge, which can be no more than $1.50 per $50.
Bottom line
While you can’t get a payday loan in Pennsylvania, you still have other options that can help you out during a financial crisis. There are multiple state-sponsored resources, and there are installment loans to cover your short-term needs.
Good morning,
Looking for an installment loan in Pennsylvania., is that available?
Hi Dominique,
Thank you contacting Finder, a general information service. Yes, installment loans are available in Pennsylvania. You can usually borrow between $500 and $5,000, and pay back the loan between as short as 3 months and as long as 3 years. You can learn more about installment loans in our guide.
Sincerely,
Ezra
Looking for a loan in pa but got no bank account just prepaid card. What are my choices?
Hi Justin,
Thank you for reaching out to Finder.
We are on the right page for you to check the available lenders that could assist you in your state. Please indicate the state you are in on the table provided on the table to see your options. Once the results are populated, you may want to check on the “Requirements” column to see which lender does not require a bank account to apply. Kindly review and compare your options on the table displaying the available providers. Once you have chosen a particular provider, you may then click on the “Go to site” button and you will be redirected to the provider’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.Hope this helps!
Cheers,
Reggie
I need a direct lender someone who gives the loans not a broker type person who finds the lenders . I live in Butler County Pennsylvania and I DESPERATELY need a loan now today can you help me with this?
Hi Drusillla,
Thank you for reaching out to us,
You are on the correct page as the Lenders listed on the table above a direct ones wherein you will submit your application directly to them then once approved they will be the one who will provide the loan to you. You may compare the Lenders available in your state as well as their eligibility requirements.
You may also read above the alternative loan that you may apply to in Pennsylvania.
Kindly read the Lender’s Terms and Conditions as well as their eligibility criteria before submitting your application. To apply, you may click on the green “Go to site” button to be redirected directly to the Lender’s site.
I hope this helps.
Please do not hesitate to reach out again to us if you have additional questions that you need assistance with.
Cheers,
Ash
Trying to get a pay day loan for 500 and pay back in installments
Hi Nina!
Thanks for leaving an inquiry on our page.
Is this your first time to get a loan? Before anything else, please make sure to check your credit score first as this will be a very influential factor for you to get approved. Simply search on our search bar “credit score and it will automatically give you the page. Also, note that any inquiry or application to any lender will also appear on your credit file.
Though payday loans are not legal in the Penn State, you can get an instalment loan. Instalment loans have longer repayment periods and are offered in larger amounts. You can typically borrow between $500 and $5,000 and pay the loan back in as short as 3 months or as long as 3 years.
You can check the on online instalment loans on this page.
Make sure to take note of the eligibility requirements to form your eligibility in applying for an instalment loan.
Hope this helps!
Cheers,
Nikki
Can i get an installment loan without a checking account?
Hi Carolyn.
Thanks for your question.
The quick answer is yes. Generally, a checking account is not the only requirement for an installment loan, but, of course this could differ from one lender to another. Typically, with your checking account, they will also be able to determine whether you can service the loan or not.
Also, lenders will usually deduct payments from your bank account on the day the payments are due. Some lenders will also give you the options of repaying the loan online, via a check or through an app.
So best to check with the lender you go with if they would approve your application without having a checking account. In case you might like to get an idea how installment loans generally work, please refer to this guide.
Regards,
Rich
I have a nexs debit card and need a loan.can u please help?thx.
Hi Nick,
Thanks for leaving a question on finder.
Unfortunately, it is illegal to get a prepaid debit payday loan in Pennsylvania. You can consider applying for an installment loan or an auto title loan. You can also look into other loan options by state to find one that’s right for your situation.
Cheers,
Joel
Is there a cash advance office in Pennsylvania with a John Williams working there?
Hi Daniel,
Thanks for your inquiry. Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.
You can have a look at this page for Cash Advance Loans. Please click the name of your preferred lender to find out the details and the minimum eligibility. You may then click the green “Go to Site” button to submit your loan application online.
Kind regards,
Rench
I need Parsnal loan.i am on duty
Hi Amarapreet,
Thanks for your inquiry
You may check all personal loans provider in our panel here.
Please do not forget to check the eligibility requirements before you apply for the loan.
Hope this information helps
Cheers,
Arnold
I need emergency cash,no job and already have debit card, in process moving out of state and need cash for medical emergency
Hi Angela,
The lenders on this page may consider you for a loan even if you are currently unemployed. Generally, lenders will require you to have a bank account to apply for a loan, but some of the lenders on the page may consider you even if you don’t have a bank account but is able to get a debit card.
Kindly review the eligibility criteria and the terms and conditions of the loan before submitting your application to know which is more suitable for you.
Cheers,
Anndy