Payday loans Ohio

Payday loans are permitted in the state of Ohio. However, there are certain rules that all lenders must adhere to when issuing these loans. These rules are:

  • The payday loan amount is capped at $500
  •  The loan term for payday loans should not be less than 21 days
  •  The APR is also capped at 28%
  •  The amount owed by a borrower should exceed 25% of his or her income
  •  There are restrictions on the number of payday loans that a borrower can apply for at a time

There is also another important point to consider. A majority of payday lenders in Ohio are mortgage companies as well. These companies usually impose a prepaid finance charge on top of the loan interest.

It, therefore, means that borrowers can find themselves paying more than the capped 28% interest rate. Anyone living in Akron, Cincinnati, and Dayton should pay attention to this important detail.

Also, those residing in Springfield, Cleveland, and other cities in Ohio should ensure full disclosure before accepting a payday loan offer.

Introducing payday loans in Ohio, how do they work?

If you are looking for payday loans in Ohio, BridgePayday has simplified the process for you. It is easy to apply for the loan online.

The process will only take a few minutes of your time. You don’t have to worry about waiting in a long queue or filling out tons of paperwork.   It is easy to apply and qualify for our payday loans Ohio by following these 4 steps:

Request for cash

Spare a few minutes to fill out our online loan form. The process is easy, straightforward, and secure

Get instant decision

If satisfied with your information, BridgePayday will connect you to a reputable lender. This process can take as little as 90 seconds.

Get your cash

The money is directly sent to your bank account within one business day

Loan repayment

Lenders who offer payday loans in Ohio need payment as soon as your paycheck arrives. The loans are paid in a lump sum. This consists of the principal amount, interest rate and the fees involved

Qualifying for payday loans in Ohio

The qualifications for payday loans vary depending on the state. Again, it is important to ask your lender if you need any clarifications.  In general, the payday loan requirements in Ohio include; 

  • You must be at least 18 years old
  •  You must be a permanent resident of Ohio
  •  You must have a regular and verifiable source of income
  •  You must have been in employment for the past 6 months
  •  You must have an active checking account
  •  You must be a citizen of the united states

Payday loans Ohio FAQs

How many loans can I apply at a time in Ohio?

States have different payday loan rules and regulations. These rules are always changing.  It is therefore important to check the state website to get the latest rules. If you live in Ohio, there is a limitation on the number of loans to borrow at a time.

Are there payday loans for bad credit in Ohio?

Yes. payday loans are easy to qualify for if you have bad credit. This is because payday loan lenders don’t consider your credit history. They focus more on your employment status which determines the ability to pay the debt. So if you have bad credit, don’t despair. 

You can easily qualify for payday loans bad credit in Ohio. Most lenders in our network don’t consider good credit as a qualification requirements.  They focus more on your income status.

Other requirements include an active checking account, a valid phone number and email address, among other things. The main aim of the lender is to ensure that you can comfortably pay the money back.

I don’t have a checking account, can I still qualify for a payday loan in Ohio

A checking account is one of the requirements to qualify for payday loans in Ohio. Usually, most lenders would want to wire the funds directly to your checking account.  This is impossible if the borrower doesn’t have a checking account.

When will I get the money?

Most lenders approve payday loans within 24 hours. Again, this depends on certain factors like your application time and day.

If you apply on a weekend, expect the money on the next business day. Applications received on a bank holiday are also approved on the next business day

Why trust BridgePayday?

BridgePayday works with over 120 lenders across Ohio. We only work with licensed and reputable lenders in the state.  Our lenders approve payday loans even to borrowers with bad credit scores.

The loans are also applied online and this will save you time and money. Forget about driving to an in-store loan location. Don’t worry about too much paperwork either. 

You also stand a high chance of qualifying for a payday loan with us. The reason is that our lenders approve over 80% of payday loan applications in Ohio.