Dallas Skyline - Texas loans

Compare your loan options in Texas

Is everything really bigger in Texas? Find out how much you can borrow in the Lone Star State.

If you’re in need of quick money, you may be considering a payday loan, also referred to as a short term loan or cash advance. It’s important to understand the laws that are in place to protect borrowers before you accept any offers.

Read through this guide to learn the ins and outs of payday loans in Texas.

LendUp Payday Loans

LendUp Payday Loans

Apply for a payday loan conveniently online and borrow between $100 and $250.

  • Min. loan amount: $100
  • Loan term: 7–30 days
  • Total costs: Depends on your state, loan product, loan amount and the term of the loan.
  • Must be 18+ (19+ in Alabama)
  • No security deposit needed
  • Confidential and secure
  • Visit the site to see if available in your state

    Are payday loans legal in Texas?

    Yes, payday loans are legal in Texas. Payday loans are governed by the Texas Finance Code, which applies to online and storefront loan providers. All lenders must be licensed in Texas and are required to clearly state the terms of the loan (how much you borrow and how long you borrow for) before you sign.

    Although Texas regulates many issues in regards to payday loans, it is best to consider other options first. If you decide to take out a payday loan, keep in mind you usually must repay it within two weeks, and the interest rates are steep.

    The maximum loan term depends on the amount you borrow. For a loan of $100 or less, it is either 6 months or 1 month per $10. For a loan greater than $100, it is 1 month for each multiple of $20, meaning a loan of $122 would be 6 months.
    Fig Loans specializes in installment loans for Texas residents

    A selection of short term loans you can apply for in Texas

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

    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
    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.
    7–30 days
    Generally receive the money the next business day
    CashNetUSA Loan
    Apply for short term loans, installment loans or lines of credit in 30 states typically with a day’s turnaround.
    Varies by state
    Varies by state
    1 business day
    ACE Cash Express Payday Loans
    Quick short term, installment and title loans come with no prepayment penalty and a 72-hour satisfaction guarantee.
    Varies by state
    Varies by state
    Generally receive the money the next business day
    Check City Payday Loan
    Apply for a fast, secure and confidential payday loan — even with less-than-perfect credit.
    Depends on state of residency
    Varies by state
    Next day
    Check into Cash Payday Loan
    With 1,000 branches in 30 states, get $50 to $1,000 in days from this direct lender.
    Varies by state
    1–2 business days

    Compare up to 4 providers

    How a Texas payday loan might benefit you

    Here’s why Texans might consider applying for a payday loan:

    • You’ll get your money quickly. Traditional lenders can take days before giving you access to your funds, but most payday lenders offer a quicker application and disbursement process. If you apply in-store, you can get your money within an hour. If you apply online, you can expect funding by the next business day.
    • You can use the funds for any purpose. What you do with a payday loan is up to you. You can use the money to get by until your next payday, travel, shop or pay bills.
    • You can still apply with bad credit. You can apply for a Texas cash advance even if you have less-than-perfect credit. Payday lenders focus more on your ability to repay the loan.
    • You can apply on-the-go. Finding Texas payday loans online is easy so you can apply from your home, office or anywhere you have access to the Internet. If you’re approved, the money will be transferred to your bank account.

    You might want to consider an alternative before taking out a payday loan

    How much does a Texas payday loan cost?

    The Texas Financial Code stipulates the following when it comes to fees:

    • Finance charges. For loans up to $30, a payday lender can charge no more than $1 for every $5 borrowed.
    • Maximum interest rate. The maximum APR for a 14-day $100 loan is 309.47%.
    • Acquisition charges. If the cash advance is between $30 and $100, an acquisition charge of one-tenth of the loan amount may apply. An installment account handling charge may also apply. For payday loans over $100, the acquisition charge can’t exceed $10, and the installment account handling charge can’t exceed the ratio of $4 for every $100 per month.

    There are some reports of APRs over 500%. Some lenders will charge fees for “brokering” loans. This means they will connect you with a third-party lender who only charges the legal amount of interest, but the lender you go through will require payment for finding you a loan. If you want to use a matching service, there are free and reputable alternatives.

    How to apply for a Texas payday loan

    Applying for payday loans in Texas is simple, but you’ll have to meet some eligibility criteria in order to be considered.

    • At least 18 years of age
    • A US citizen or a permanent resident
    • A regular source of income

    Applications will require the following information:

    • Your name, date of birth, Social Security number and a valid form of ID
    • 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

    Where else are payday loans available?

    Have any more questions about Texas short term loans?

    If you’re unable to pay the full amount, then you can refinance your loan. The process varies a bit depending on the lender you use, but here is an example of the loan refinancing process from Speedy Cash:

    1. You will pay only the refinance fee (CAB fee and lender interest).
    2. Speedy Cash will pay off the original loan with the proceeds of a new loan. The finance fee for your original loan is due at this time.
    3. At the end of your new 6-month term, your loan principal, interest, and CAB fee for the new loan will be due.

    Keep in mind refinancing (or rolling over) a loan comes with steep charges and keeps the amount of accrued interest. Before you take out a loan, be sure you can pay it back to avoid large fees.

    Applying online takes no more than 5 to 10 minutes as long as you have the required information on hand.

    You can convert your payday loan to a declining balance installment note if you can’t repay the loan on time. You won’t be able to get a rollover if the maximum interest rate exceeds the renewal charge.

    A payday loan does not require any collateral. An auto title loan uses your car as security.

    Yes. Texas allows for any number of loans to be taken out at once.

    No. There is no cooling-off period requirement in Texas.

    Depending on the lender, you can receive the funds in less than 24 hours.

    It is technically illegal to do so, however, there have been cases of lenders filing suits against borrowers in the state. Be careful who you borrow money from and make sure they are a reputable lender.

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    2 Responses

    1. Default Gravatar
      TangledMay 19, 2017

      Is it possible to be approved for a payday loan using a bluebird greendot card as my bank account?

      • Staff
        HaroldJune 27, 2017Staff

        Hi Tangled,

        Thank you for your inquiry.

        With your loan options in Texas for payday loans. You must meet the following requirements to be eligible for this loan.

        – 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

        I hope this information has helped.


    US Payday Loans Offers

    Learn about our information service
    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

    With 1,000 branches in 30 states, get $50 to $1,000 in days from this direct lender.

    OppLoans Installment Loans

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