Ohio Payday Loan Laws and Regulations in (OH)

(last updated 01/02/2018)
Payday loans and cash advances are legal in Ohio. The Ohio Division of Financial Institutions has been regulating Payday Loans and Cash Advances since 1980. As of 01/30/2015 there were 337 licensed lenders and 1,115 licensed locations in Ohio.
 
The maximum payday loan allowed in Ohio is $500. The maximum payday loan as a percentage of income is not specified. The number of loans that can be open at one time is 1, and a total of 4 per year. The maximum permissible fees allowed in Ohio is dependent upon the lenders license, 353% APR is the maximum. The cooling off or waiting period for obtaining another loan is no more than 2 loans in 90 days. The number of rollovers that are permitted is 0. The minimum loan term is 31 days. The maximum loan term is not specified.
 
This information is for informational purposes only. Although care has been taken to accurately describe the laws and regulations in Ohio, no guarantees are implied or expressed about its accuracy. This is not legal advice. If you need legal advice, please consult an attorney or the Ohio Division of Financial Institutions.
 
The following classes of lending organizations may be exempt from some , all, or none of the regulations set by the state of Ohio. Federally chartered banks, state chartered banks, credit unions and some entities organized under the laws of a sovereign nation (for example) a Native American Tribe or the country of Antigua.

Ohio Payday Lending Regulator (OH)

Regulating Authority
Ohio Division of Financial Institutions
77 South High Street
21st Floor
Columbus, OH 43215
(614)728-8400
com.ohio.gov/fiin/

Agency for Handling Complaints
Division of Financial Institutions
Office of Consumer Affairs
77 South High Street, 21st Floor
Columbus , OH 43215
(866)278-0003, (614)728-8400
www.com.state.oh.us/fiin/HowDoI.aspx

 


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Flag of the State of Ohio In the state where everyone bleeds Buckeye scarlet and gray, sometimes you can run low on green. There’s got to be somewhere in Ohio where you can find a cash advance to tide you over until your next paycheck, right?

Your debt is piled higher than the mounds in Mound City, but at least you pay your bills on time. Of course, there will always be some kind of unexpected expense to deal with before you get your next paycheck. Maybe your family wants to head out to Cedar Point for the day. Sure, who doesn’t want to go to the rollercoaster capital of the world? But it’s not free – where is that money going to come from?

That goetta has been sitting in your fridge for a long time. You know you should probably throw it away, but you’re out of cash until you get paid and there’s nothing else to eat. Later, you find yourself in the emergency room at Cleveland Clinic, facing a co-pay that you can’t afford.

These things just happen: usually when your First Federal Bank of Ohio account is on empty. So, if you need to pay for a car battery in Bowling Green, some prescription medication in Miamisburg, or a birthday gift for your dad in Dayton, a payday loan could be the answer to your problems.

Here at We Give Loans, we offer a consumer-to-lender pairing process that has helped over 2 million people, since 2006, get loans for a variety of situations. We simplify getting a payday loan by pairing our customers with the right loan sources for their unique circumstances. There are no upfront fees associated with our service, and there is absolutely no obligation.

We have access to 3,558 lenders and loan sources so that we can help almost anyone get the cash advance they need. Whether you have perfect credit, poor credit, or no credit at all, that’s okay. No matter what you are currently facing now, we may be able to help you get a payday loan- up to $1,000. Take a few moments and complete our safe, secure, and private online application today and get started on your way to financial freedom. Once we know your needs, we’ll show you the options from our network that suit your situation, and you can choose to complete a loan with one or more of them. If approved, the money you need could be available to you within 24 business hours, depending on your lender.

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