Ohio Payday Loans

Ohio understands the need for occasional cash advance loans and has ensured that borrowers are well protected from any transaction. This site provides comprehensive information regarding these laws, ensuring the borrowers are well informed before applying for a payday loan in Ohio. We welcome any questions or comments you might have as we are strive to provide up to date and accurate information.

 Payday Loan Process in Ohio

Obtaining a payday loan in Ohio is easy and usually takes a few days to complete, maximum of one week. During this time, borrowers can have their asked for funds ready and waiting in their checking/savings account. The requirements are also fairly basic and easily provided through the internet or office-meeting.

  • Proof of legal age, 18 years old and above
  • Proof of residency
  • Proof of employment
  • Salary must meet minimum requirements set by lender
  • Must own a savings or checking account

Some payday loan requirements are subject to the discretion of the lender. For example, some creditors provide loans for people on welfare or those on their retirement. The loans offered here are dependent on the monthly check received by the borrower.

Ohio Payday Loan Laws and Regulations

All lenders are required to operate within the set guidelines by the state of OH.

  • Maximum Loan Amount: $500
  • Loan Term: Minimum of 31 Days
  • Finance Charge for $100 Loan in 14 Days: $1.08
  • APR for $100 Loan in 14 Days: 28%
  • Rollovers: Not permitted
  • Cooling off Period: Maximum of 2 Loans every 90 Days
  • Repayment Plan: Allowed, 60 Days
  • Maximum Number of Outstanding Loans at a Time: One, Maximum of 4 Loans per Year
  • Collection Fees: $20 Collection Charge

All borrowers are advised to familiarize themselves with the cap set by the OH authorities. Read the fine print and understand the terms and conditions before signing.

Ohio Consumer Protection

Problems, questions and complaints can all be directed to the Ohio Division of Financial Institutions.

Address: 77 South High Street, 21st Floor Columbus OH 43215
Phone: (614) 728-8400 
Look For: Robert M. Grieser, Deputy Superintendent for Consumer Finance

WEB : http://www.com.state.oh.us/

Borrowers can further protect themselves by being aware of the allowed actions their lender can take. It’s also best to ask any questions you might have to the lender before pursuing a loan. Some aspects of a short term loan are unclear on the law, therefore making it crucial to discuss these topics before an agreement is reached.

Ohio Payday Loan Alternatives

There are lots of payday loan alternatives that borrowers can try first before proceeding with a cash advance loan. Appealing to your employer for a cash advance is one option. Some individuals who don’t want to borrow simply sell off some of their items or pawn it to a shop, reclaiming the asset when their salary comes in. Some expenses can also be paid via credit card, letting you pay it off on an installment basis. Lastly, there are bank loans that let you borrow  large amounts of cash at a time.

Payday Loans cities in Ohio:
Akron Alliance Amherst
Arcanum Ashtabula Athens
Aurora Avon Beachwood
Bedford Bellefontaine Belpre
Berlin Bethel Beverly
Blanchester Bluffton Broadview Heights
Brunswick Bryan Cambridge
Canal Winchester Canton Celina
Centerville Chardon Chesterhill
Chillicothe Cincinnati Circleville
Cleveland Cleveland Heights Coldwater
Columbia Station Columbus Coshocton
Cuyahoga Falls Dayton Defiance
Delaware Dover Dublin
East Liverpool Eaton Edon
Elyria Englewood Fairborn
Fairfield Fairlawn Findlay
Fort Recovery Fostoria Franklin
Fremont Gallipolis Greenville
Grove City Hamilton Harrison
Heath Hillsboro Hubbard
Independence Ironton Jackson
Kalida Lafayette Lagrange
Lancaster Lebanon Liberty Twp
Lima Lisbon Lorain
Lynchburg Mansfield Maple Heights
Marietta Marion Marysville
Mason Massillon Maumee
Mc Connelsville Medina Mentor
Miamisburg Middleburg Heights Middletown
Milford Minerva Mount Vernon
Napoleon New Carlisle New Philadelphia
Newark North Canton North Olmsted
Norwalk Ontario Oregon
Orwell Ottawa Paulding
Piqua Poland Pomeroy
Portsmouth Prospect Ravenna
Reynoldsburg Saint Clairsville Saint Marys
Salem Sandusky Sheffield Village
Somerset Springboro Springfield
Steubenville Sylvania Tallmadge
Tiffin Toledo Trotwood
Uhrichsville Upper Sandusky Urbana
Van Wert Versailles Wapakoneta
Warren Wauseon Wellsville
West Chester Westerville Westlake
Wheelersburg Wickliffe Willoughby
Wilmington Winchester Woodsfield
Wooster Worthington Wshngtn Ct Hs
Youngstown Zanesville  

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