A payday loan is a safe and convenient short-term loan. These loans are created to allow borrowers to stretch their monthly budgets when the unexpected happens. Payday loans don’t require a traditional credit check. These are usually for small amounts of cash and typically require only a few easy steps. Most payday lenders provide their payday loan services online or in a neighborhood brick-and-mortar store. In either case, a payday advance loan can be a simple, responsible solution for a temporary budget shortfall.
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Legal Status of Payday Loans by State
Click on your state to learn if payday loans are legal or prohibited and the state law that applies.
Payday Loans permitted States
The page for each state where payday lending is legal gives the key cost of loan terms under state law. Look for the cost of a payday loan in dollars and annual interest rate for a 14-day $100 loan. Each page lists the maximum number of loans a consumer can have, any limits on loan renewals and requirements for extended repayment plans. Collection limits spell out the fees lenders can charge if the loan is not repaid. Also, whether the lender can use or threaten criminal action if a borrower is unable to make good on the check used to get a loan is discussed.
Payday Loans prohibited States
In states that still have small loan rate caps or usury laws, the state page gives the citation for the law that limits rates, and the small loan rate cap.
Contact Information for State Regulators
All state pages list the state payday loan or small loan regulator, contact information and website.
| Abbreviations | State Name | Abbreviations | State Name |
| AL | Alabama | AK | Alaska |
| AZ | Arizona | AR | Arkansas |
| CA | California | CO | Colorado |
| CT | Connecticut | DE | Delaware |
| FL | Florida | GA | Georgia |
| HI | Hawaii | ID | Idaho |
| IL | Illinois | IN | Indiana |
| IA | Iowa | KS | Kansas |
| KY | Kentucky | LA | Louisiana |
| ME | Maine | MD | Maryland |
| MA | Massachusetts | MI | Michigan |
| MN | Minnesota | MS | Mississippi |
| MO | Missouri | MT | Montana |
| NE | Nebraska | NV | Nevada |
| NH | New Hampshire | NJ | New Jersey |
| NM | New Mexico | NY | New York |
| NC | North Carolina | ND | North Dakota |
| OH | Ohio | OK | Oklahoma |
| OR | Oregon | PA | Pennsylvania |
| RI | Rhode Island | SC | South Carolina |
| SD | South Dakota | TN | Tennessee |
| TX | Texas | UT | Utah |
| VT | Vermont | VA | Virginia |
| WA | Washington | WV | West Virginia |
| WI | Wisconsin | WY | Wyoming |
Sourced from paydayloaninfo.org
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