Pennsylvania

Compare your loan options in Pennsylvania

Wondering if you can get a payday loan in Pennsylvania? Here’s the information you need to know.

You may be considering a payday loan if you’re short on cash and looking to borrow a small amount of money. This guide will take you through the ins and outs of payday lending in Pennsylvania.

Are payday loans legal in Pennsylvania?

Payday loans, also referred to as cash advances and short term loans, are not legal in Pennsylvania.

63 Penn Statutes Ann. § 2325 specifically prohibits check cashing services from offering payday loans. Lending is regulated by the Consumer Discount Company Act, 7 Pa. Cons. Stat. §§ 6201 et seq.

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 anything. It’s also a good idea to have a solid plan to pay back your loan, so you don’t find yourself needing to borrow more money to repay debt.

Even though you can’t get a payday loan in Pennsylvania, there are still ways you can obtain funding when you need it.

Take a look at some payday loan alternatives

Installment loans you can apply for

If you have poor credit you can consider getting an installment loan. Providers of these loans look at more than just your credit history. They take your existing financial situation and your ability to repay into account as well. Similar to payday loans, the interest is very high and there are still risks.

Rates last updated September 25th, 2017
Name Product Max. Loan Amount Term of Loan Turnaround Time Costs
OppLoans Installment Loans
$4,000
9 to 36 months
1 business day
Depends on state of residency.
Slam Dunk Loans
$2,500
Varies by lender
As soon as next business day
NetCredit Installment Loan
$10,000
Varies upon state
1-3 business days
Total costs will vary based on your state and credit score.
HonestLoans Installment Loans
$2,500
Varies by lender
As soon as one business day
Blue Trust Loans Installment Loans
$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
$5,000
6 to 24 months
Next Business Day
Depend on state specific laws as well as the amount of money you borrow.

Compare up to 4 providers

What other options do you have for a loan in Pennsylvania?

While you can’t get a Pennsylvania payday loan, there are other ways to get money.

  • 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 New York 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.

What are the typical costs of a loan in Pennsylvania?

Getting credit requires that you repay the money you borrow along with interest and any applicable fees. The interest you have to pay varies significantly depending on the type of credit you seek, the lender you choose, your credit rating, the amount you wish to borrow and the loan term.

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.

Have any more questions about Pennsylvania 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 Pennsylvania unless they are a tribal lender.

You should contact the Pennsylvania Department of Banking.

No you cannot. Like payday loans, title loans are illegal in PA due to the high interest rates.

Where are payday loans available?

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4 Responses

  1. Default Gravatar
    AmarpreetSeptember 14, 2017

    I need Parsnal loan.i am on duty

    • Staff
      ArnoldSeptember 14, 2017Staff

      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

  2. Default Gravatar
    AngelaAugust 15, 2017

    I need emergency cash,no job and already have debit card, in process moving out of state and need cash for medical emergency

    • Staff
      AnndyAugust 15, 2017Staff

      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

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