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Compare short-term loans in Kentucky

Choose from our list of lenders and learn more about state restrictions.

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 Kentucky and everything else you should know about how payday advances work.

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Name Product Filter Values Loan amount Turnaround time Requirements
Smart Advances
Not rated yet
Smart Advances
$100 to $20,000
As soon as one business day after loan closing
Have a regular income, 18+ years old, be a U.S. citizen with a valid SSN, have an open bank account, meet any additional requirements your lender may have
Smart Advances was designed to help you request the loan you need, for any reason.
EarnIn
Not rated yet
EarnIn
Get up to $100 per day or $750 per pay period.
1 to 2 business days, or in minutes with Lightning Speed.
Direct deposit sent to a checking account, a regular pay schedule, a fixed work location or an online timekeeping system at work
No mandatory fees, no interest, and no credit checks. Subject to EarnIn terms & conditions
Cleo
Not rated yet
Cleo
$20 to $250
3 to 4 days standard transfer. Same day with $3.99 express fee.
Not stated
Automatically monitor your spending plus access cash advances up to $100 at a time.
Albert
Not rated yet
Albert
Up to $250
2–3 business days or instant for a fee
Checking account 2+ months old receiving direct deposit, 2+ months working for the same employer, positive account balance, most recent paycheck was on-time, funds still available in bank account 24 hours after most recent payday.
Get up to $250 overdraft protection if you sign up for Albert's banking app.
Brigit
Not rated yet
Brigit
Up to $250
1 to 3 business days or instant with a fee of $0.99 to $3.99, or a $9.99/mo. subscription with small fee, or free with $14.99/mo. 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.
LendYou Short-term Loans
Finder Rating: 2.5 / 5: ★★★★★
LendYou Short-term Loans
Up to $1,000 for payday loans and up to $5,000 for installment loans
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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When you’re in a tight spot financially, you might just need a few hundred dollars to cover an emergency expense. If you live in Kentucky, you can apply for a payday loan of up to $500 to help you out of a short-term situation.

Can I get a payday loan in Kentucky?

Yes, but with some restrictions. Kentucky Revised Statutes Ann. §§ 286.9.010 et seq. govern the functions payday lenders. Under these laws, the maximum you can borrow through a cash advance in Kentucky is $500. A lender cannot provide more than two payday loans to a customer at any one time. And the cumulative total of all your existing payday loans cannot exceed $500.

  • Maximum loan amount: $500
  • Loan term: 14 to 60 days
  • APR: The APR for a 14-day $100 loan is 459%

Before you borrow, remember that payday loans are costly forms of credit and should only be used for short-term emergencies, not long-term financial troubles.

Must read: Lawmakers seeking to further regulate lenders

Because payday lenders have had predatory practices in the past and many have disobeyed Kentucky state law regarding how much a person can borrow, lawmakers are seeking to increase the fees they charge payday lenders for violating the law. In addition, despite some stores having been cited multiple times for illegal activity, none have been shut down.
With new technology in place to scan for suspicious transactions, the number of citations has gone up, protecting consumers from lenders that might have allowed them to borrow more than the legal amount.
Familiarize yourself with Kentucky laws–how much you can borrow and how much a lender can charge in fees–before borrowing. If your lender is trying to act under the law, contact the Kentucky Office of Financial Institutions.

Payday loan fees in Kentucky

Kentucky payday loan laws set limits on how much your loan can end up costing. Here’s what you need to know:

  • Finance Fees: $15 for every $100 borrowed and a $1 database fee
  • Finance Charge: A 14-day $100 loan has a charge of $17.65
  • Collection fees: One non-sufficient funds (NSF) fee; must be disclosed in contract

If you aren’t sure you’ll be able to afford a payday loan, don’t take one out. Instead, consider some of your local options that can help make your regular bills easier to afford, like the Supplemental Nutrition Assistance Program (SNAP) or the Low Income Home Energy Assistance Program.
Consider less-expensive alternatives to a payday loan

How to apply

You can get a payday loan online or in-store, but you’ll need to be at least 18 years old, an American citizen or permanent resident and have a regular source of income in order to qualify for most payday loans. You should also be prepared to supply your Social Security number, details about your employment and other personal information in order for the lender to confirm your identity.
If you’re applying online, a lender may request access to your checking account in order to deposit your loan and debit your payment when the loan is due.

Bottom line

If you’re in need of quick cash, a payday loan may be an option for you. It can provide funding for an unexpected expense — and if you can pay it off by the due date, you won’t face extra fees or charges. Keep in mind, though, that some illegitimate lenders don’t operate by the law. You’ll need to keep a lookout for lenders that follow all the rules laid out by Kentucky so you don’t find yourself in seemingly endless cycles of debt.

Frequently asked questions

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4 Responses

    Default Gravatar
    AngelaDecember 4, 2017

    I live in Ky but unfortunately, I don’t have a checking or savings account, where can I get a loan? I have prepaid cards, can the money be loaded to them?

      AvatarFinder
      RenchDecember 4, 2017Finder

      Hi Angela,

      Thanks for your inquiry. Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.

      There are lenders that allow loans without a bank account. If you are able to meet all their eligibility requirements and have a good credit standing, you will have a high chance of getting approved for a loan.

      You may receive the loan through a prepaid debit card of in-store cash pickup but it’s best to check further details about your loan directly with your lender.

      Cheers,
      Rench

    Default Gravatar
    GarryOctober 18, 2017

    Can I get out of paying off a payday tribal loan I borrowed 9hundred dollars and have already paid about 2000 back and still owe about600 in automatic drafts of 275.00 every two weeks and it never goes down much and I don’t know how much longer this will go on.please advise i’m going broke.

      AvatarFinder
      MariaOctober 19, 2017Finder

      Hi Garry

      As Finder is a financial comparison website providing general information, we are not permitted to provide our users with personalized financial advice.

      You may find useful information on this page on our Tribal Lending Guide.

      Also, this page on How To Repay Your Short Term Loan might help.

      Best,
      Maria

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