Editor's choice: Check Into Cash Payday Loan
- Safe, secure application
- Use the money for any purpose
- Receive funds as soon as next business day
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Living in San Francisco is expensive. When you need extra money fast to cover expenses, a short-term loan is sometimes your only option. While you can get money as fast as the same day, consider the high costs and other risks before borrowing.
Yes, you can get a payday loan in San Francisco. You can either borrow through an online lender and get your funds as soon as the next day, or you can go to a physical location and pick up your cash in person.
However, California state law puts restrictions on how much you can borrow and how much your lender can charge you. If you’re getting a short-term loan that you intend to pay back with your next paycheck, you can’t borrow more than $300 and must pay it back within 31 days. Your lender also must be licensed and can’t charge you a fee worth more than 15% of your loan’s value.
If you need more than $300 or extra time to pay it back, you might want to consider an installment loan instead. In San Francisco, you can borrow between $300 and $2,500 with terms up to six months and interest rates capped at 36%.
While each lender has different requirements, you typically need to provide the following:
Some lenders might ask for your Social Security number as well.
California requires all payday lenders to have a license. This is for your protection — it makes it easier to enforce the law if a lender overcharges you. Licensed online lenders typically have a PDF of their California license available on their website, while storefront lenders are required to publicly display a copy of their license.
If you can’t easily find a lender’s license, it could be a sign that it’s not operating totally by the books. You can check to make sure your lender is licensed by visiting the California Department of Business Oversight website.
San Francisco has several options if you need money fast, though there are limits to how much you can borrow from a payday or installment lender.
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