Payday loans in Vermont | finder.com
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Compare your loan options in Vermont

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If you’re thinking about applying for a payday loan in Vermont, read our page for more information

Being short on cash and needing to borrow a small amount of money may have you looking into payday loans, but in Vermont, payday lending is banned. Our guide has other options for you to consider.

Can I get a payday loan in Vermont?

No. Vermont Statutes Ann. tit. 9 § 41a, the small loans act, applies to all small loan lenders in the state.

The Vermont small loan act states that lenders can’t charge more than 18% per annum interest. Because payday lenders charge much higher interest than this, they are effectively banned in the state. In addition, 8 V.S.A.§ 2519(a)(13) states that lenders aren’t permitted to hold checks for future deposits.

Some lenders use the loopholes in Vermont law to provide online payday loans in this state. However, the state is taking steps to prevent this from happening.

You may be able to apply for an installment loan

Rates last updated August 16th, 2018
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 Max. Loan Amount Turnaround Time Requirements
OppLoans Installment Loans
Installment loans with competitive rates from a top-rated direct lender.
$5,000
1 business day
Open to residents of AL, AK, AZ, CA, DE, FL, GA, ID, IL, IN, KS, KY, MI, MN, MO, MS, NE, NV, NM, OH, OK, OR, SC, TN, TX, UT, VA, WI and WY. Must have direct deposit and meet minimum income requirements.
CashUSA Installment Loans
$10,000
As early as 1 business day
Monthly income of $1,000+ after taxes and valid checking account.
LendYou Payday Loans
Apply online with this loan-connection company offering unrestricted short-term loans at high maximums — fast turnaround.
$15,000
1 business day
You must be a US citizen or permanent resident, age 18+ and have a regular income.
Slam Dunk Loans
Potentially get approved for a short-term loan through this lender-connection service, even with poor credit history.
$2,500
As soon as next business day
Must be employed, receive regular income, earn at least $800 a month, have a checking account, be 18+ yrs old and a US citizen.
BadCreditLoans.com
With straightforward, simple qualifications, these loans offer easy approval for people with poor credit.
$5,000
Varies
Depending on lender requirements, people from all 50 states may not be eligible for a personal loan.
CashNetUSA Loan
Apply for a short-term loan with an easy online application and dedicated customer service.
Varies by state
1 business day
You must be a US citizen or permanent resident, be at least 18 years old and have regular income and a bank account.
Jora Installment Loans
Installment loans with repayment terms up to 30 months, depending on your state.
$2,600
1–2 days
Must have an active checking account, regular source of income and email address.
Blue Trust Loans Installment Loans
Get an installment loan from an online tribal lender. Perks for returning borrowers.
$2,000
As soon as next business day
Must be at least 18 years old and have a verifiable source of income with direct deposit into your checking account.

Compare up to 4 providers

Do I have other options besides payday loans?

Programs like Medicaid, Reach Up in Vermont, Seasonal Fuel Assistance and 3SquaresVT can help you afford your everyday bills while you work on paying down your debt.

You may also want to consider some of these alternative credit options:

  • Consider a credit card cash advance. If you have a credit card and haven’t met the credit limit, you can take out an advance on the remaining amount. While this is an expensive option, you have more time to pay it off than with a payday loan.
  • Negotiate with your creditors. If you can’t afford to make payments on your debts, you should talk to your creditors and negotiate a lower payment. Many will be willing to adjust how much or how frequently you pay off your debt to make it more affordable for you.
  • Find a credit counselor. This isn’t a quick fix, but it can help you learn how to budget and control your finances. A credit counselor can teach you ways to avoid needing something like a payday loan in the future, which will lower your debt in the long run.

We have a guide with more ways to avoid a payday loan

What costs can I expect with a loan in Vermont?

Vermont caps small loan interest at 18%, but you may be required to pay origination fees and other charges for a loan. Because of the variety of lenders out there, we can’t say the exact costs of a loan. You’ll need to read over your loan contract very carefully before deciding. Remember, if you don’t like the terms of a loan offer, you can always choose to reject it.

Have any more questions about Vermont payday loans?

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US Payday Loans Offers

Important Information*
Slam Dunk Loans

Potentially get approved for a short-term loan through this lender-connection service, even with poor credit history.

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

Installment loans with competitive rates from a top-rated direct lender.

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