Ohio payday loan laws overview

In terms of short-term cash advance options in Ohio, there are plenty to choose from. Residents can easily get the cash they need both in stores and online. Ohio payday loans are a common option.

Ohio is America’s 7th biggest state in terms of population and it is the 10th most crowded state. The average income per person is over $34,900. The unemployment rate has decreased from 10.8% in May 2010 to 5.4% in April 2015. 

Are payday loans in Ohio legal?

Are payday loans in Ohio legal?

Are payday loans in Ohio legal?

In the state of Ohio, payday loans are legal. All payday loan lenders in the state are governed by the Ohio Revised Code. In order to offer payday cash advances in Ohio, a lending company should first get a license to do so. In Ohio, payday lending companies can provide loans not exceeding $500 with terms longer than 31 days.


Cash advance lending companies must provide all borrowers with contracts disclosing conditions and loan terms in a concise and clear manner. The borrower is able to extend his loan term with extended payment plans, giving him up to two more months to pay back the loan without having to pay any additional charges or fees.

Why consider a payday loan in Ohio?

Many people in need of immediate cash in Ohio apply for cash advances. Here is what you need to know when applying for Ohio payday loans:

  • Why consider a payday loan in Ohio?

    Why consider a payday loan in Ohio?

    Fast and easy application. Applying for a cash advance in Ohio may be less complex than you think. Some lending companies utilize innovation to verify their borrower’s identification online, so borrowers don’t even need to send any documents. The procedure is fast and easy.

  • Fast turnaround. Traditional lending institutions may take days to make a decision and dispense a loan. Payday loan lending companies tend to process the applications faster, and some can even give you your loan on the day of your application.
  • Applying for payday loan with poor credit. Don’t worry about your credit score ruining your chances of getting a cash advance. Most payday lending companies in Ohio give loans to people with bad credit scores. This works as long as the borrower is able to show he’s able to pay back the loan.
  • Spend the payday loan on whatever you deem fit. In Ohio, payday loan lenders don’t place any restrictions on how their clients can use their funds. You can use your cash for emergency bills, repair your car or pay your rent.

What are the charges and fees on Ohio payday loans?

If you are thinking of getting a payday loan in the state of Ohio, the state regulations govern how much you may actually have to pay in charges and fees.

  • Finance rate and fees. In Ohio, the annual percentage rate on cash advance credits can’t surpass 28%.
  • Collection fees. If disclosed, you’re accountable for bank charges and lenders can ask of you to pay a collection fee of $20.  If you default, you can be also accountable for damages and court costs.
  • No rollover fee. There is no rollover on Ohio payday loans.

How to submit an application for a cash advance in Ohio?

Ohio payday loans


How to submit an applicaiton for a cash advance

If you want to submit an application for a payday loan in Ohio, you can do so either by visiting a store or online. For both options, you must meet certain requirements:

  • You must be 18 years old
  • You must be a resident in the United States or be an American citizen
  • You must have a steady monthly income

When you apply for a loan you’ll have to provide various information including:

  • Your name, birth date and details from a recognized report, for example, your driver’s permit or your passport
  • Your phone number, residential and email address
  • Details about your income and employment
  • Details of your bank account

Cities in Ohio where you can find payday loan lenders:

  • Akron
  • Barberton
  • Bowling Green
  • Brunswick
  • Canton
  • Cincinnati
  • Cleveland
  • Cleveland Heights
  • Columbus
  • Cuyahoga Falls
  • Dayton
  • Delaware
  • Dublin
  • Elyria
  • Euclid
  • Fairborn
  • Fairfield
  • Findlay
  • Grove City
  • Hamilton
  • Kent
  • Lakewood
  • Lancaster
  • Lima
  • Lorain
  • Mansfield
  • Marion
  • Mason
  • Massillon
  • Mentor
  • Middletown
  • Newark
  • North Olmsted
  • Reynoldsburg
  • Springfield
  • Stow
  • Toledo
  • Warren
  • Westerville
  • Youngstown