State Licensed Payday Loan Sites by State
Find state-licensed online payday lenders and licensing details incl. max. loan amount, max. finance charge and licensing requirements for each state.
Alabama to Montana
Alabama (AL)
State Licensed Online Lenders:
CashCentral.com, CashNetUSA.com, CheckIntoCash.com
Maximum Loan Amount:
$500
Maximum Finance Charges:
$17.50 per $100 borrowed
Licensing Requirements:
Online lenders must be licensed in Alabama.
Updates:
On January 10, 2013, a kind reader brought it to our attention that Speedy Cash is licensed in Alabama. We checked the State of Alabama Banking Department’s licensee database and Speedy Cash Inc was listed so we updated this page. Thank you so much! Our site would not exist without you.
Alaska (AK)
State Licensed Online Lenders:
CashCentral.com, CashNetUSA.com, CheckCity.com
Maximum Loan Amount:
$500
Maximum Finance Charges:
$20 per $100 borrowed
Licensing Requirements:
Online lenders must be licensed in Alaska.
Arizona (AZ)
Prohibited.
Arkansas (AR)
Legally Operating Online Lenders:
If you know of any, contact us.
Maximum Loan Amount:
$400 (No Limit)
Maximum Finance Charges:
$22.22 per $100 borrowed (No Limit)
Licensing Requirements:
Online lenders can be licensed in any state. Lenders would need to follow the laws of the state they are licensed out of, not the laws of Arkansas, so there is no limit to the maximum loan or finance charge.
California (CA)
State Licensed Online Lenders:
CashCentral.com, CashNetUSA.com, CheckCity.com, CheckIntoCash.com,
Maximum Loan Amount:
$300
Maximum Finance Charges:
$17.65 per $100 borrowed
Licensing Requirements:
Online lenders must be licensed in California.
Colorado (CO)
State Licensed Online Lenders:
CheckCity.com (see below)
Maximum Loan Amount:
$500
Maximum Finance Charges:
$20 per $100 borrowed (plus interest rate of 45% per annum)
Licensing Requirements:
Online lenders must be licensed in Colorado.
Updates:
A kind reader notified us that CheckCity.com stopped offering online loans in Colorado. From the CheckCity.com website: “…changes made to the Colorado Deferred Deposit Loan Act (DDLA) have made operating too difficult to continue our online lending efforts in Colorado. If you live in the greater Denver area we will continue to offer loans in our Lakewood, Colorado branch location (1898 South Wadsworth Boulevard.)”
Connecticut (CT)
Prohibited.
Delaware (DE)
State Licensed Online Lenders:
CashCentral.com, CashNetUSA.com, CheckIntoCash.com
Maximum Loan Amount:
$1000
Maximum Finance Charges:
No Limit
Licensing Requirements:
Online lenders must be licensed in Delaware.
Notes:
Transaction may be handled as an installment loan. See Important Notes.
District of Columbia (DC)
Prohibited.
Florida (FL)
Legally Operating Online Lenders:
CashNetUSA.com, CheckIntoCash.com
Maximum Loan Amount:
$500 (No Limit)
Maximum Finance Charges:
$15 per $100 borrowed plus verification fee if applicable (No Limit)
Licensing Requirements:
Online lenders must be licensed in Florida.
Notes:
Lender may be regulated as a credit service organization (CSO). Generally, a CSO does not need to be licensed so there is no limit to the maximum loan or finance charge.
Georgia (GA)
Prohibited.
Hawaii (HI)
Legally Operating Online Lenders:
CashCentral.com, CashNetUSA.com
Maximum Loan Amount:
$600
Maximum Finance Charges:
$17.65 per $100 borrowed
Licensing Requirements:
Online lenders are licensed and regulated by the Hawaii Department of Consumer Affairs, Office of Consumer Protection.
Idaho (ID)
State Licensed Online Lenders:
CashCentral.com, CashNetUSA.com, CheckCity.com, CheckIntoCash.com
Maximum Loan Amount:
$1000
Maximum Finance Charges:
No Limit
Licensing Requirements:
Online lenders must be licensed in Idaho.
Illinois (IL)
State Licensed Online Lenders:
CashNetUSA.com, CheckIntoCash.com
Maximum Loan Amount:
Lesser of $1000 or 25% of borrower’s gross monthly income.
Maximum Finance Charges:
$15.50 per $100
Licensing Requirements:
Online lenders must be licensed in Illinois.
Notes:
Transaction may be handled as an installment-payday loan. See Important Notes.
Indiana (IN)
State Licensed Online Lenders:
CheckIntoCash.com
Maximum Loan Amount:
Lesser of $550 or 20% of borrower’s gross monthly income.
Maximum Finance Charges:
$15 per $100
Licensing Requirements:
Online lenders must be licensed in Indiana.
Iowa (IA)
State Licensed Online Lenders:
If you know of any, contact us.
Maximum Loan Amount:
$500
Maximum Finance Charges:
$16.67 per $100
Licensing Requirements:
Online lenders must be licensed in Iowa.
Kansas (KS)
State Licensed Online Lenders:
CashCentral.com, CashNetUSA.com, CheckCity.com, CheckIntoCash.com
Maximum Loan Amount:
$500
Maximum Finance Charges:
$15 per $100
Licensing Requirements:
Online lenders must be licensed in Kansas.
Notes:
Transaction may be handled as an LOC Loan. See Important Notes.
Kentucky (KY)
State Licensed Online Lenders:
If you know of any, contact us.
Maximum Loan Amount:
$500
Maximum Finance Charges:
$17.65 per $100
Licensing Requirements:
Online lenders must be licensed in Kentucky.
Louisiana (LA)
Legally Operating Online Lenders:
CashCentral.com, CashNetUSA.com, CheckIntoCash.com (see below)
Maximum Loan Amount:
$350
Maximum Finance Charges:
$25 per $100
Licensing Requirements:
Online lenders must be licensed in Louisiana. (see below)
Updates:
We received the following info from a kind Online-Payday-Loans.org reader: “According to the Office of Financial Institutions, Secretary of State, and Attorney Generals Office, online lenders do not have to be licensed unless they have a presence in the state and they do not have to abide by state laws pertaining to payday loans.” Thank you for taking the time to help us correct our info!
Maine (ME)
State Licensed Online Lenders:
CashNetUSA.com
Maximum Loan Amount:
$300
Maximum Finance Charges:
$15 for borrowed amounts of $100-$200, $25 for borrowed amounts of $250-$300.
Licensing Requirements:
Online lenders must be licensed and supervised in Maine.
Maryland (MD)
Prohibited.
Notes:
Lender may be regulated as a credit service organization (CSO). Generally, a CSO does not need to be licensed so there is no limit to the maximum loan or finance charge.
Massachusetts (MA)
Prohibited.
Michigan (MI)
State Licensed Online Lenders:
CashNetUSA.com, CheckIntoCash.com
Maximum Loan Amount:
$600
Maximum Finance Charges:
$15 per $100 borrowed (plus any database verification fee)
Licensing Requirements:
Online lenders must be licensed in Michigan.
Minnesota (MN)
State Licensed Online Lenders:
CashCentral.com, CashNetUSA.com
Maximum Loan Amount:
$350
Maximum Finance Charges:
$15 per $100 borrowed
Licensing Requirements:
Online lenders must be licensed in Minnesota.
Mississippi (MS)
State Licensed Online Lenders:
CashNetUSA.com, CheckIntoCash.com
Maximum Loan Amount:
$400
Maximum Finance Charges:
$22 per $100 borrowed
Licensing Requirements:
Online lenders must be licensed in Mississippi.
Missouri (MO)
State Licensed Online Lenders:
CashCentral.com, CashNetUSA.com, CheckCity.com, CheckIntoCash.com
Maximum Loan Amount:
$500
Maximum Finance Charges:
$75 per $100 borrowed
Licensing Requirements:
Online lenders must be licensed in Missouri.
Notes:
Transaction may be handled as a consumer installment loan. See Important Notes.
Montana (MT)
State Licensed Online Lenders:
CashCentral.com
Maximum Loan Amount:
$300
Maximum Finance Charges:
$25 per $100 borrowed
Licensing Requirements:
Online lenders must be licensed in Montana.
Prohibited.
Notes:
Payday loans are technically legal but the extremely low rate cap (36% annual interest or $1.38 for 14-day $100 loan) would not even cover lender costs. As we discussed in our article Six Payday Loan Laws that Hurt Consumers, a rate cap that makes offering loans unprofitable becomes a de facto ban on payday loans.
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