Payday Loans in Ohio

Payday Loans in Ohio

Here is all the information you need about payday loans in Ohio, including the legality, requirements and how payday loans work. Payday loans are commonly sought after by citizens of Ohio because they are fast, easy, and convenient to apply for and get cash within a short period. You only need a previous payroll and proof of employment to qualify for a payday loan in Ohio.


One in ten adults has taken a payday loan in Ohio. Payday loans in Ohio were costly compared to payday lenders in other states until October 2018, when Ohio changed the laws governing payday loans in Ohio. The highest amount for a payday loan in Ohio is $1000. Other states allow a higher payday loan limit matched to Ohio. There is no minimum duration to clear payments for a payday loan. The maximum period to clear a payday loan in Ohio is 32 days. The law forbids applicants to roll over payday loans in Ohio. To qualify for a payday loan, payday loan lenders in Ohio consider all credit histories, including those turned down by banks due to bad credit. Payday loans are instant loans suitable for immediate needs that require a quick response, such as household needs, bills, or hospitalization. Payday loans in Illinois are easy to apply for. Borrowers can either apply virtually or at the payday offices to get money immediately, either as cash or a check. A good payday loan company in Illinois does not have hidden charges.

Popular Loan Packages Available in Ohio

Payday loans

Law status  Legal
MIN Loan Amount $100
MAX Loan Amount $1000
MIN Loan Term 91 days 
MAX Loan Term One year
Additional fees  15% of check value
NSF fee $20 
Collateral or guarantor None, unsecured 
Number of simultaneous loans  one
Cooling off period 30 days 
Rollover  none 
Extension, repayment plan prohibited
Default penalties  None
Credit score requirements  None


Installment loans 

Law status Legal 
MIN Loan Amount $500
MAX Loan Amount  $5000
MIN Loan Term  Seven months
MAX Loan Term   26 months 
Collateral or guarantor None, unsecured 
Credit score requirements  None 


Personal loans 

Law status Legal 
MIN Loan Amount $2,000
MAX Loan Amount $36,500
MIN Loan Term 24 months 
MAX Loan Term 60 months 
Collateral or guarantor  None, unsecured 
Credit score requirements  None 


  • Payday loans in Ohio charge a higher APR than installment loans and personal loans
  • Payday loans in Ohio take a short time to approve, and the borrower gets the money. 
  • Personal loans and payday loans in Illinois are unsecured. In Illinois, repayment for a payday is short-term, usually two weeks to one month. 
  • In contrast, repayment for a personal loan is usually a long time, a maximum of two years.


Payday loans in Ohio are legal. The regulations of Ohio allow its citizens to get a maximum loan of $1000 with an APR of 28% for 91 days to one year. Ohio has set its statute of limitations to 8 years from the last payment a borrower has made. Only one loan at a given period is acceptable. A person is not permitted to get an extra loan at a time. Rollover on payday loans in Ohio is not allowed. Although the state has set a 28% APR, there are loaning establishments that create loopholes that increase the APR to 600%.

Ohio’s short-term loan act requires all lenders, including online lenders, to obtain a short-term loan law license. The loan total, charges and interest included should not be more than 60% of the principal loan amount. Creditors are allowed to charge $30 as a monthly upkeep charge. For a $500 and above loan, 2% is charged for the origination fee.

Alternatives of payday

Payday loans in Ohio are expensive as compared to other states. Many alternatives are accessible for payday loans that charge low or no interest.

Paycheck advance 

You may ask your employer to give you a salary advance. Also, you can take a loan from Cash advance apps before your payday. Cash advance apps charge little interest compared to payday loans in Ohio. Taking a loan on Cash advance apps requires one to understand that they won’t get the full salary amount end month. 

Lending circles 

Lending circles are formed by six to twelve participants who contribute to a member of the group one person at a time. Depending on the terms of the lending circle, no fee or interest is incurred. It requires commitment as you have to contribute to people when they need help. It is also an excellent way to build your credit score. Many online platforms offer lending circles where members of a lending circle contribute to one member monthly. 

Borrow from a family member 

If you need money urgently, you can consider borrowing from your close family and friends. Borrowing from family or friends requires an agreement between both parties where you can set terms for repayment. You can also agree on the interest to be charged, which is less than taking a payday loan in Ohio. 

Earn extra money through a side hustle  

You can use your extra time to make money and avoid getting into debt. There are many options for earning money through a side hustle. For example, you can earn that extra cash through babysitting, pet grooming, and pet sitting. You can also do freelance writing and data entry and offer transcription services. 

 Community Development Financial Institutions (CDFI) 

An example is Capital Good Fund which offers a loan of 5%APR with no payments due and no interest charged for the first three months. To qualify for this loan, you should have a credit score of 580. 

Great lakes credit union and self-help Federal credit unions are examples of non-profit CDFI that are great alternatives to payday loans in Illinois. 

Pawn loans 

They are short-term loans similar to payday loans in Ohio. Pawn lawn lenders give you a loan in exchange for your item. You provide them with an asset, and they assess its value and decide whether to provide you with a loan or not. You can get a loan without a credit check or selling an item. 

How it works 

The online application process is easy and quick to follow. You may apply for a loan online or at the payday loan offices. Payday loan lenders require you to fill in your details, including your social security number (SSN), employment status, and income. This information provided is used to assess whether you qualify for a loan. In addition, you should fill out the total amount you would like to borrow and how long.

If approved, you can receive your money in as little as one day. A small cash advance can come in hand in case of emergency but receiving payday loans with different lenders at the same moment is not advisable.


To qualify for a payday loan in Ohio, you must meet the following requests: 

  • Be 18 years old and above
  • Be a US resident
  • Have a steady job 
  • Have an active bank account
  • Earn at least  $800 per month 
  • Have an active email and phone number for contact

Other additional requirements may include: 

  • Permission to check your credit history
  • Debit card to disburse the loan. 

An Example of a Loan Fee 

For example, for a short-term loan term of $200 for one month, total charges add up to $24.67, an APR of 150%. A checking fee of $10 which not included in the APR. 

An origination fee of 2% is charged on loans above $500 and a monthly maintenance fee of 10% of the loan amount. Additional charges on payday loans make it an expensive loan option. 


Does Ohio still have payday loans?

Ohio still has payday loans. Several lending companies, including online platforms, give payday loans. In Ohio, you can be given a payday loan any time of the day. 

Applying for an instant payday loan in Ohio is easy and fast. You must fill out the application form accurately, and if you meet all requirements, the money is put into your chosen bank account.

What are three alternatives to getting a payday loan? 

Advances from employers 

Some employers give salary advances to their employees. An advance from an employer is not a loan, and there is no interest charged. The employee is paid a part of their salary before the actual payday. 

Apply for a “Bad Credit” Personal Loan

Some lenders offer bad credit personal loans. These types of loans involve a credit check. However, they do not need one to put up their property as collateral. They offer loans ranging from $500 to $10,000. The annual percentage rate is also high. 

Seek help from a credit counsellor 

A credit counsellor may help you get out of debt by creating a debt repayment plan. Credit counsellors also work with your household financial plan to improve your monetary condition. Credit counsellors in Ohio offer their services at little or no cost.   

What is the best place to get a payday loan?

There are many online payday loan providers in Ohio. We are one of them. Just fill in the form above, and you will get a payday loan now in just a few quick and easy steps.

Where can I borrow money now? 

Cash advance apps 

Cash advance apps can give you money instantly as you wait for your next payday. If you are in an emergency, you can contemplate getting a loan on a cash advance app. Before choosing a cash advance app, go through its interest rate and the repayment period. Cash advance apps do not charge interest based on the annual percentage rate (APR) compared to payday and some personal loans.

Personal loans 

Banks, credit unions, and online lenders offer personal loans. It takes about one month for a personal loan to be processed. Unsecured personal loans require a good credit score of above 660+. Online creditors give personal loans fast and convenient compared to traditional lenders, which are banks and credit unions.

Installment loans 

The most common installment loans are student loans, mortgages, and auto loans. Payments for Instalment loans are made in equal portions over a given period. In Ohio, Instalment loans are accessible in credit unions, banks, and online lenders.

Secured loans 

Credit union personal savings can be used to secure a personal loan. They charge a lower rate, and the borrower can pay the loan and still get their dividends. Banks and credit unions offer these loans.
Payday loans in Ohio can be of great help in economic emergencies. Before taking a payday loan in Ohio, you should explore numerous options to get the best rates with a favourable APR and a more extended payment period.