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Compare short-term loans in Iowa

See your options and learn about important regulations before you apply.

When you have unplanned expenses and are on a tight budget, a payday loan could be helpful. Payday loans, a type of short-term loan, give you quick access to money when you need it. Read on to find out about the laws in Iowa and everything else you should know about how payday advances work.

Name Product Filter Values Loan amount Turnaround time Requirements
Brigit
Not rated yet
Brigit
$250
1 to 3 business days, or instant with a fee or Premium subscription
Bank account must have at least 60 days of activity, Balance must be above $0 and have an average minimum balance on pay day
Have up to $250 automatically deposited into your account — for a $9.99 membership fee.
Possible Finance Mobile Installment Loans
Up to $500
As fast as 1 business day
Checking account with 3+ months of banking history, $750+ monthly income, live in eligible state, ages 18+
Borrow up to $500 with just a few swipes — but only for residents of 21 states.
LendYou Short-term Loans
Finder Rating: 2.5 / 5: ★★★★★
LendYou Short-term Loans
$100 to $1,000
Same business day to 1 business day
$1,000+ monthly income, direct deposit, US citizen or permanent resident, ages 18+
Get offers from potential lenders in minutes by filling out just one online form.
Fast5kLoans Short-term Loans Connection Service
Finder Rating: 3.5 / 5: ★★★★★
Fast5kLoans Short-term Loans Connection Service
$100 to $35,000
As soon as the next business day
Regular source of income, Verifiable bank account, US citizen, Ages 18+
Get connected with multiple lenders you might qualify with — even if you have bad credit.
Brigit
Not rated yet
Brigit
$250
1 to 3 business days, or instant with a fee or Premium subscription
Bank account must have at least 60 days of activity, Balance must be above $0 and have an average minimum balance on pay day
Have up to $250 automatically deposited into your account — for a $9.99 membership fee.
Possible Finance Mobile Installment Loans
Up to $500
As fast as 1 business day
Checking account with 3+ months of banking history, $750+ monthly income, live in eligible state, ages 18+
Borrow up to $500 with just a few swipes — but only for residents of 21 states.
LendYou Short-term Loans
Finder Rating: 2.5 / 5: ★★★★★
LendYou Short-term Loans
$100 to $1,000
Same business day to 1 business day
$1,000+ monthly income, direct deposit, US citizen or permanent resident, ages 18+
Get offers from potential lenders in minutes by filling out just one online form.
Fast5kLoans Short-term Loans Connection Service
Finder Rating: 3.5 / 5: ★★★★★
Fast5kLoans Short-term Loans Connection Service
$100 to $35,000
As soon as the next business day
Regular source of income, Verifiable bank account, US citizen, Ages 18+
Get connected with multiple lenders you might qualify with — even if you have bad credit.
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A payday loan may be a good option if you’re strapped for cash or facing a financial crisis. Before you apply, you’ll need to know how much it costs and the laws your lender will have to follow. Our page has all the details.

Can I get a payday loan in Iowa?

Yes, payday loans are legal in Iowa. Iowa Code Ann. 533D.1 et seq. The Delayed Deposit Services Licensing Act governs all payday lenders in Iowa. Lenders must be licensed and physically located in Iowa in order to finance loans.

Five main regulations for Iowa payday loans

  • Maximum loan: $500
  • Loan Term: 31 days
  • APR: A 14-day $100 loan is 433%
  • Finance fees: $15 for loans up to $100; $10 per every additional $100
  • Collection fees: Lenders may charge one $15 non-sufficient funds (NSF) fee

What you need to apply

If you want to apply for a payday loan, you’ll need to be at least 18, a US citizen or permanent resident and have a regular source of income.
You’ll also have to provide your Social Security number and some other personal details, like where you’re employed and how often you get paid. If you’re applying online, a lender may request information about your checking account in order to deposit your loan and debit your payment when it’s due.

Can I apply online or in-store?

It depends on the lender. Most payday lenders operate online these days, while some also have store locations in select states. In Iowa, most payday lenders operate solely online.
One benefit of a loan that’s processed completely online is the convenience. You won’t have to go into a physical store to pick up your cash. The approved funds will be loaded into your bank account.

Payday loan alternatives in Iowa

Because payday loans are often high-cost forms of credit, it could be better to look for other options before committing to a payday loan. Some ideas include applying for the Family Investment Program (FIP) or getting cash advance from a credit card you already have.
You could also consider the following:

  • Make extra cash with a side hustle. You likely have a skill or access to something that others are willing to pay for. If you have a car, consider signing up to drive for Uber. You could do freelance work for things like writing, graphic design or website coding.
  • Borrow from a loved one. It may take a hit to your pride, but asking a family or friend member for a small loan could help you get back on your feet. Be sure you pay it back in a reasonable time frame to avoid harming the relationship.
  • A 401(k) loan. If you’ve saved money for retirement in an employer plan, you could withdraw funds from it as a loan. You’ll repay the loan back into your retirement account, so it’s technically interest-free. One thing to watch out for is that if you leave your job for any reason, the full amount will be due within a short time frame.

Frequently asked questions

How many payday loans can I have at the same time?
You can have two loans at once, provided they total $500 or less.
Who should I contact to file a complaint about a payday lender in Iowa?
You should get in touch with the Iowa Division of Banking.
Is there a mandatory cooling-off period?
Iowa law doesn’t require a cooling-off period. However, it’s a good idea not to take out multiple loans one after the other.
Can I roll over or refinance my loan?
No. Iowa law doesn’t permit rollovers.

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