Editor's choice: OppLoans Installment Loans
- Easy online application
- Quick approval
- Long repayment terms
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There are plenty of last-minute financing options in Reno if you need a small-dollar loan. But it can get expensive. Nevada allows lenders to charge as much as they want in interest — and you can renew your payday loan for up to 60 days after the original term.
Yes, you can get a payday loan in Reno. Lenders follow the same payday loan laws as other Nevada cities:
Check to make sure your lender has a state license before applying — it’s required by Nevada law. Payday lenders are also required to make sure you can afford to repay the loan, so expect your lender to ask for proof of income or bank statements when you apply. Check out our guide to learn more about Nevada payday loan laws.
Payday loans aren’t the only type of fast financing available to Reno residents with bad credit. You can also get what Nevada calls a high-interest loan — also known as an installment loan — or a title loan backed by your car.
What you need to apply varies by lender, though you typically must:
You can also expect to be asked for some or all of the following documents when you apply:
Since Nevada requires all lenders to be licensed, it’s easy to make sure the company you’re working with is legit. If you don’t see its license displayed prominently online or in the store, ask to see it. If it can’t produce it, look elsewhere for financing.
Not comfortable working with a payday lender — even if it’s licensed? Look into local resources available to Nevada residents or see if a federal credit union near you offers payday alternative loans, which come with APRs capped at 28%.
You have three main options when it comes to short-term loans in Reno, Nevada. But with no legal limit to how much a short-term lender can charge, APRs can reach well into the triple digits.
Learn more about how short-term loans work by reading our guide to payday loans.
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