Payday Loans in Wyoming

Payday Loans in Wyoming

Every day, things happen in our lives and around us, things we can control and things beyond our control. When it comes to our finances, there are times when our savings can help us when we are financially down, other times we need a little more support than is currently available, that is where this type of loans come into play. From now on, you no longer have to worry about any financial crises. 

In less than 10mins, you too can apply for an online payday loan in Wyoming available 24/7 without stress by clicking few buttons at your convenient time and place. 

Three Types of Loans in Wyoming

  • Payday Loans

Payday loans are short-term lending arrangement in Wyoming that can be utilized to take care of immediate and urgent needs. This loan package is prominent in this state due to the ease with which it can be obtained.  Compared to banks, it does not require any stringent conditions like collateral security, good credit score, etc. it is also available during weekends. This loan is usually repaid on your next paycheck. Repayment is just as easy as applying for the loan.

Law Status Not Permitted but available to borrowers
Loan Amount(Minimum) $100
Loan Amount(Maximum) Not stated
Loan Term(Minimum) One week
Loan Term(Maximum) One calendar month
Maximum Annual Percentage Rates (APR)% The maximum Annual Percentage Rate in Wyoming is 243.33%%
Additional Fees Finance charges of 20% of loan balance/month
Non-Sufficient Fund Fees Not limited
Collateral or guarantor None required
Number of Simultaneous Loans No limits
Cooling-off Period No cooling-off period is allowed
Rollover Not specified
Extension, repayment plan Four installments repayment plan is allowed
Default Penalties Not specified
Credit Score Requirements Available to borrowers with bad credits


  • Installment Loan

This type of loan can also serve as an effective solution to any unforeseen expenses that require urgent money you might face. For example; repair work, medical expenses, vacation expenses, etc. Installment loans in WY will give you cost-effective short-term credit. As compared to payday loans which require repayment as soon as possible. This financing arrangement is unique, it is usually more flexible and can span from 3 -36 months with a lower payment. If you plan your budget well, you will be able to pay it back in no time.


Law status Permitted
Minimum Loan Amount $1, 000.00
Maximum Loan Amount $5, 000.00
Minimum Loan Term 90 days {3 months}
Maximum Loan Term 36 months (3 years)
Minimum Annual Percentage Rates (APR%) 6.63%
Collateral or Guarantor None required
Credit Score Requirements Available to borrowers with bad credits


  • Personal/Individual Loan

Lenders in Wyoming utilize personal loans to pay for vacations and travels, home improvements, pay for big events like weddings, medical, taxes, household (overdue bills), etc. In this type of arrangement, there is a monthly fixed-rate payment This implies that the amount you pay back is usually consistent over the life of your loan; this is convenient because you know precisely how much you’re repaying each month.


Law status Permitted
Minimum Loan Amount $1,000.00
Maximum Loan Amount $35,000.00
Minimum Loan Term 90 days (3 months)
Maximum Loan Term 60 months (5 years)
Minimum Annual Percentage Rates (APR%) 4.99%
Collateral or Guarantor None required
Credit Score Requirements Available to borrowers with bad credits


In Wyoming, is it legal to operate payday loans?

Payday loan either online or offline in physicals stores is legal in Wyoming. Its practice is officially referred to as “post-dated check” or “similar agreement”. Wyoming payday loan is regulated by Wy.Stat.40-14-362 et seq. (Wyoming uniform consumer credit code).     The prerequisite for lending institutions interested in operating the business in the state is to have a post-dated check cashier license obtained from the department of Audit, Division of Banking.

Alternatives to Wyoming Payday Loans 

Do you have any reservations about payday financing or you feel payday loans will not solve your financial issues then you might want to consider some of the other alternatives below.

  • Lending circles

This refers to a set of people that lend each other money at a very minimal cost or at no cost at all. Lending circles can sometimes be a long-term commitment because the circle usually raise money for only one member at a time per month. Actively participating in a lending circle can help you finance things such as; wedding expenses, car repairs, etc. This funding source is usually a much slower option but can be very valuable if planned accordingly.

  • Family loans

If you’re looking to get loans without any interest, this is probably your best bet. The only condition you have fulfill is to be in good terms with the lender. You and your lender may well agree on when the loan will be repaid, whether in full or in installment. This type of loan does not require a collateral and the only downside is that non repayment of loan might put your relationship in jeopardy.

  • Cash advance apps

To access this funding source, It is usually a good idea if you have a job and need money quickly to pay a couple of bills. If you can predict your income and you need to get advance paycheck, you could consider this option. Cash advance apps confirms what your income is and whenever you get paid, they offer you an advance in the range of $20 and $500 which is charged on your next paycheck. Processing this loan could take a couple of hours to a couple of days. Some of this apps charge you a little fee to process your request faster.

  • Credit unions

If you are a current member of a credit union or perhaps, you’re eligible to join one, you have a very viable loan option at your disposal.         Credit unions examine your credit rating, as well as your credit history, earnings, and relationship with the union, when making lending decisions. If your credit union offers a payday lending alternative, you can borrow a small sum of money, typically between $500 and $2000. The highest interest rate is usually 28% and payback period could take up to 12 calendar months. You should however keep in mind that credit unions can report on early and late payment to credit bureau and this is capable of affecting your credit score.


How Do Wyoming Payday Loans Work?

To obtain payday finance in Wyoming, follow the steps stated below;

  1. First you need to create an account and log into our website. The next thing is to make sure that you have met all of the prerequisites. Our website is safe, and your information is secure.
  2. What follows is to complete a registration form; please click the link at the bottom of this page to do so RIGHT NOW!
  3. It is very important you fill correct info as this may determine whether your application will be successful or not. Since the information will be vetted thoroughly, please ensure that your SSN, email, and phone number is correct (we can’t stress this enough). Once you are sure your data is accurate, hit “submit.”
  4. Following the submission of your application, you will receive a notification confirming that it has been reviewed and approved.
  5. Following that, you will be sent a loan agreement form. You can accept or reject the loan at this point. Once you sign this agreement form, the loan will be deposited into the account you specified.
  6. If you apply early in the morning, it’s possible you receive your money in a couple of hours. If you apply on weekends or holidays, however, you may have to wait until the next working day to receive your loan.
  7. Most online lenders deduct the loan repayment from your bank account on the due date. If you have repay the loan by yourself, make every effort to do so by the due date. Default penalties are frequently included in your loan agreement. Some lenders may employ the services of a collection agency, which might negatively impact your credit score.

Nonetheless, no lender has the authority to threaten you with arrest, seek charges, or scare you into paying by using bogus threats. Payday loan debt is not a criminal offence.

What You Need to Qualify for a Payday Loan in Wyoming

I know you’re curious, you would really like to know what the qualifications are for these Wyoming payday loans. Examine the following text;

  • Users should be at 18years of age at the time you apply for the loan.
  • You must have a stable income stream with proof.
  • You need to clearly show that you are legally residing in Wyoming. Proof of permanent residency is sufficient.
  • You must also provide a valid government-issued ID, phone number, email address, and social security number.

An Easy-to-Understand Illustration of a Payday Loan Fee

When you obtain a $200 payday loan with a minimum of 14days in Wyoming, this is what the interest rate will look like;

The Annual Percentage Rate (APR): 243.33%

Loan procured; $200

Finance charge (for 7 days); $20*2 = $40

To return; $240

APR% calculation = $40/$200= 0.2*365= $73/7days = 10.43

= 1043%

 So, if you take out a $200 payday loan and don’t pay it back, you will owe $1043 as interest on the original loan amount at the end of a year.


Are payday loans legal in Wyoming?

Yes! Wyoming officially recognizes payday loans. You should also patronize us because we have legal permission to operate a payday loan company, you are in safe hands.

What are three alternatives to payday to getting a payday loan?

Wyoming’s three payday loan alternatives are as follows; Lending circles, cash advanced apps and credit unions

What will stop you from getting a payday loan?

If you do not have a stable source of income, this could hinder you from securing a payday loan. Payday loan companies take this seriously as this helps them to determine your ability to repay what you borrowed.

If you are frequently short on cash, payday loans are an excellent solution. They’re great for dealing with any unexpected or unexpected bills, and you can do so from the convenience of your couch.