Payday Loans in Dayton, OH
A payday loan is a short-term, unsecured loan taken to help cover the costs of urgent expenses. They are a quick and reliable way to get funds online, gaining popularity in the United States between the 1990s and early 2000s. Ever since then, Americans have been using them as a means to get out of debt and cover expenses they might not usually be able to.
With the advent of payday loans, most states have implemented regulations, so consumers and lenders alike are suitably protected.
Are Payday Loans Legal in Dayton, Ohio?
Due to the predatory nature of some payday lenders, a good number of States have taken to banning the operation of payday loan offices in any city within the state. Regardless of this, payday loans in Dayton, OH, are fully backed by the law, so you do not run the risk of getting into any form of trouble by applying for payday loans in Dayton, Ohio.
What Do I Consider Before Applying for a Payday Loan in Dayton, Ohio?
Before you apply for a payday loan in Dayton, Ohio, you must put some things into consideration. This ensures that you are making the right decision.
You must be sure your income is enough to cover your payday loan before applying for a payday loan in Dayton, Ohio. Since most payday loans give a maximum amount of $1000, your income needs to be at least $1000 so that you do not acquire more debt while trying to clear your debt from a payday loan.
Also, like all other loans, payday loans should be taken only when necessary. If you do not have a financial need that can be considered urgent, then it is not advisable to apply for a payday loan.
Is a Bad Credit Score an Issue While Applying for Payday Loans in Dayton, Ohio?
Payday loans are not like most loans that will ask you for your credit score. They are classified as bad credit loans and are usually the typical choice for people with bad credit scores. To compensate for the irrelevance of a bad credit score, the interest rate for most payday loans is very high.
However, due to the laws regulating payday loans in Dayton, OH, the interest rate of payday loans in this city is low when compared to some others in the United States.
Are There Faxless Payday Loans in Dayton, Ohio?
With the technological advances in the world today, fax machines are fast becoming obsolete. This means that it is becoming more challenging to access a fax machine, and most people these days do not even know how to use a fax machine. Before you apply for a payday loan, you need to determine if the lender requires that you fax any information. If the lender does, you might want to consider taking your application elsewhere because payday loans in Dayton, Ohio, can be faxless.
There are much faster and more accessible alternatives to faxing. You can scan a required document and send it to a payday lender rather than fax the document. Also, most, if not all, documents can be sent by email. This makes fax machines completely unnecessary for payday loan applications these days. It is advisable to use a fax machine if you are trying to get a quick loan as they can hinder your speed.
Can Military Personnel Apply for a Payday Loan in Dayton, Ohio?
Neither military personnel nor their immediate family can apply for a payday loan in Dayton, Ohio. This is in accordance with the Militias Lending Act, which prohibits military personnel from taking payday loans, vehicle title loans, and tax refund loans.
Do Payday Loans in Dayton, Ohio, Have a Cap Rate?
In accordance with the laws regulating payday loans in Dayton, Ohio, the cap rate for interest on payday loans is 28% per annum. When applying for a payday loan in Dayton, Ohio, read through the terms and conditions very carefully to ensure that the interest rate is not above 28% per annum.
How Long Will It Take to Get a Payday Loan in Dayton, Ohio?
To get a payday loan in Dayton, Ohio, a lender needs to approve your application first. After the approval of your application, it typically takes ten minutes to twenty-four hours for your loan to be paid into your checking account. Payday loans in Dayton, Ohio, are pretty fast and ideal for an emergency because you don’t have to spend much time waiting to receive your loan. This puts payday loans ahead of other forms of loans, which can sometimes take months to reach your checking account.
Requirements for Payday Loan Applications in Dayton, Ohio.
Applying for a payday loan in Dayton, Ohio, has some requirements which you must meet. If you don’t, it will lower your chances of receiving a loan. What are some of these requirements, you may be wondering? Here’s a list of the most common ones:
- You must be at least 18 years old. Applicants below this age will not receive a loan.
- You must have an active checking account.
- You must offer a government-issued ID or a social security number.
- You must have a phone number and a verifiable email address for confirmation of your payday loan application.
- You must earn at least $1000 monthly to guarantee that you can repay your debt from your income.
- You must sign a declaration form stating that you do not have more than $2500 in short-term loans.
Cash Advance and Payday Loan Companies Near You (Lenders Locations)
|Company name||Address||Zip code||Phone number|
|Checksmart||2930 W Alex Bell Rd||45459||(937) 428-7530|
|Checksmart||2129 Needmore Rd||45414||(937) 567-1450|
|Checksmart||1947 S Alex Rd||45449||(937) 847-2800|
|Checksmart||4212 Linden Ave||45432||(937) 254-7800|
|Checksmart||4064 Wilmington Pike||45440||(937) 294-0500|
|ALL Cash Express||3516 W Siebenthaler Ave||45406||(937) 275-4912|
|First American Loans||2515 South Smithville Road||45420||(937) 258-2899|
|National Cash Advance||5678 Springboro Pike||45449||(937) 643-9874|
|Checksmart||5521 Salem Ave||45426||(937) 837-0829|
|CashMax Ohio||4791 Salem Ave||45416||(937) 275-4401|
|Check Exchange||4317 W 3rd St||45417||(937) 262-9422|
|Cashmax Ohio||6740 Brandt Pike||45424||(937) 236-1222|
|CashMax Ohio||2409 Wilmington Pike||45419||(937) 999-4477|
|Check ‘N Go Store #980||4141 N Main St||45405||(937) 567-1960|
|Cashland||602 Woodman Dr||45431||(937) 253-7842|
|Cashland||1331 Wilmington Ave||45420||(937) 396-1846|
|Cashland||1016 Canton Rd||45402||(330) 733-1411|
|Cashland||4977 N Main St||45415||(937) 278-0148|
|Hometown Financial Services||3108 Wilmington Pike||45429||(937) 299-9000|
|National Cash Advance||5268 Salem Ave||45426||(937) 854-3223|
|JP Morgan Chase & Co||40 N Main St, Ste 6||45423||(937) 443-6090|
|Advance America||5420 Springboro Pike||45449||(937) 643-9244|
|Advance America||2039 E Dorothy Ln||45420||(937) 294-3573|
|Advance America||5678 Springboro Pike||45449||(937) 643-9874|
|Check Into Cash||170 Woodman Drive||45431||(937) 254-0113|
|Cashland||5150 Salem Ave||45426||(937) 854-0690|
|DDK Financial Assoc||5615 N Dixie Dr||45414||(937) 275-3981|
|CashMax Ohio||5270 N Dixie Dr||45414||(937) 716-1574|
|United Check Cashing||5615 N Dixie Dr||45414||(937) 275-3981|
|Cashland||6375 Chambersburg Rd||45424||(937) 233-4397|
|Free Pike Bank of Dayton||4324 Salem Ave.||45416||(937) 280-6003|
|Check Into Cash||3283 W Siebenthaler Ave, Suite 6||45406||(937) 278-1170|
|Cashs Land||2915 Linden Ave, Ste B||45410||(937) 252-0434|
|ALL Cash Express||3516 W Siebenthaler Ave||45406||(937) 999-1463|
|Wright-Patt Credit Union||Student Un, # 180||45435||(937) 775-5797|
|Cash America||602 Woodman Dr||45431||(937) 258-0123|
|Reyna Capital Corporation||1 Reynolds Way||45430||(937) 485-2955|
|Universal 1 Credit Union Inc||2933 Harshman Rd||45424||(937) 235-0303|
|Wells Fargo Financial||1190 E Dixie DR||45449||(937) 859-9000|
|Freedom First Credit Union Inc||1645 Webster St||45404||(937) 223-2828|
|Onemain Financial||127 Springboro Pike||45449||(937) 435-2927|
|Household Finance||6226 Wilmington Pike||45459||(937) 848-5888|
|Wright-Patt Credit Union||4512 Brandt Pike||45424||(937) 237-5152|
|Guardian Finance Co||687 Lyons Rd||45459||(937) 434-2773|
|Mortgage Line||6940 N Dixie Dr||45414||(937) 898-7200|
|Onemain Financial||665 Lyons Rd||45459||(937) 291-3111|
|Gem Capital Corporation||507 S Smithville Rd||45403||(937) 252-9026|
|Day Air Credit Union||3434 York Commons Blvd||45414||(937) 665-0980|
|Code Credit Union||732 S Ludlow St||45402||(937) 222-8971|
|Postal Family Credit UNION||803 E 5th St, Ste A||45402||(937) 228-7691|
|Countywide Federal Credit Union||2089 Dayton Xenia Rd||45434||(937) 426-7687|
|Main Source Bank||8265 N Main St||45415||(937) 454-2200|
|Wells Fargo Bank||175 E Alex Bell Rd, Ste 280||45459||(937) 439-0343|
|Firstday Financial Fcu||4125 W Town And Country Rd||45429||(937) 222-4546|
|Huntington Bank||5900 Springboro Pike||45449||(937) 439-0420|
Amanda is a senior writer at AdvanceSOS. She has more than six years of journalism experience, mostly in the finance sector. She graduated with a Bachelor’s Degree from Drew University.