How to Compare Loans in Ohio
Choose the amount of money you want to borrow
Filter the results based on your needs and compare loan rates
Choose the best offer from leading lenders
Click Get Started and complete your application online
As seen in
Best Rated Personal Loans
Find the best rated lenders for loans in Ohio
Online Loans in Ohio
We've seen a decline in the number of unsecured loans that banks provide in the past few years. While it may be challenging to get a personal loan from a bank, you could still get financing by taking a payday loan.
The way payday loans are governed varies from state to state, and the laws in Ohio are quite different from the laws set in the other states.
Compare online loans in Ohio with our loan comparison tool above, or read more about online payday loan laws in Ohio below.
The Advantages of Online Ohio Loans
Cash Advance Collections in Ohio
Cash advance borrowers in Ohio can defer their payments for up to 6 months. Lenders have two main options when it comes to collection rules. They can collect their loan without legal assistance or sell the debt.
Those collecting on behalf of the payday lenders should properly identify themselves to the borrower or his family. Harassing borrowers over the phone or calling after 9 p.m. is considered illegal.
A repayment plan is offered if you fail to meet the payment deadline. A lender has the right to file a legal case against you if you default a loan.
Alabama Payday Loan Regulations
| Legal Status | Legal |
| Interest Rate (APR) | 28% |
| Max. Loan Amount | $1,000 |
| Min. Loan Term | 91 days |
| Max. Loan Term | 1 year |
| Number of Rollovers | 0 |
| Finance Charges | 28% |
| Statute of Limitations | 8 years |
Ohio has a $1,000 payday loan limit. Payday loans can be taken for the period from 91 to 1 year with a maximum interest rate of 28% (APR). One loan at a time is allowed. No rollovers are allowed. Criminal actions are prohibited.
Ohio used to be is a tricky place when it comes to payday loans. They were excessively expensive with APR reaching up to 677%* until October 2018, when Ohio changed its regulations for payday loans.
Get the Loan You Need
An online personal loan can help when you need cash for large purchases or unplanned expenses.
Online Loan Options in Ohio
The Short-Term Lender Law (STLA) was enacted in Ohio in 2008. If you want to get a cash advance in Ohio, here is more information on how this law protects consumers.
The payday lending law in Ohio can be regarded as one of the best when it comes to protecting consumers.
It prohibits lenders from making short-term loans available by mail, over the phone or through the internet.
The STLA requires all lenders to register with the state. Payday loans in Ohio are regulated by the Department of Commerce.
Thus, the interest rate and fees that lenders charge are determined by the state.
Here are some more additional protections in Ohio State:
- Loan duration should not be less than 31 days;
- The loan amount cannot be more than $500;
- The interest rate is capped at 28%;
- The loan amount should not exceed 25% of a borrower’s gross income.
The Ohio Supreme Court has held that payday lenders can also be mortgage lenders under the Mortgage Lenders Act.
According to Ohio law, only lenders who have been licensed and paid an application fee of $500 can collect their loans from defaulters.
All transactions by unlicensed lenders are rendered null and void, thus they cannot file any legal actions.
Why Compare Personal Loans at Financer.com
Compare Ohio Loans at Financer.com
Financer.com helps you compare the best personal loans in Ohio and get the best loan rates from leading lenders.
We look for lenders that offer full transparency and have a long track record of successful lending and satisfied customers. We are always improving our comparisons, but are confident in what we can bring to market, and we know you will be as well.
Use our free loan comparison tool to find the right personal loan in Ohio and take the guesswork out of doing all the legwork yourself.
What Customers Say About Us
4.57 based on 328 reviews
from Reviews.io
Marianne J
Effektivt, tyldigt, intressant, informativ
Andrei B
I believe it to be THE best financial platform in Romania, by far. Their articles are very well documented and really offer the answers to all the questions that I have on the subject.
Terese P
Ute fter nytt kreditkort? Hittade mitt första kreditkort via deras hemsida. Fördelrana? Att man kan jämföra direkt på sidan! Vill du veta om för och nackdelar med olika kort? FInns också på finnacner. Asbra faktiskt.
Alexander E
Bra information om prisläge på olika bankkort med mera.
Birgitta S
Bara bra att säga om financer. Bra info, tydligt, strukturerat, ärligt, uppdaterat! Fem stjärnor.
Ohio Loans - FAQs
Are payday loans legal in Ohio?
Yes, payday loans are legal in Ohio but the maximum loan amount is $1,000 with a 28% APR limit.
What is the maximum term for an Ohio loan?
A payday loan in Ohio has a term of between 91 days to one year.
What does a cash advance loan in Ohio cost?
Payday loans in Ohio are limited to 28% APR.
Where can I get a payday loan in Ohio?
There are many online lenders that offer loans in Ohio such as CashUSA, PersonalLoans.com and BadCreditLoans.com.
Read More About Loans
No Teletrack Tribal Loans: Bad Credit Accepted
What Are No Teletrack Tribal Loans? No teletrack tribal loans are short-term, high-interest loans offered by lenders affiliated with Native American tribes. These loans have two
September 9, 2024 13 min read
How To Sell a Car with a Loan
Selling a car can be a straightforward process, but when you still owe money on the vehicle, it becomes a bit more complex. This guide ...
September 17, 2024 16 min read
How to Apply for CalFresh Benefits: Steps, Application, and More
May 3, 2024 15 min read
Conventional Mortgage Loans
Conventional mortgage loans are an important financial tool. They play a crucial role for people buying a home. Understanding how they work will help you ...
November 6, 2024 12 min read
