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Payday Loans in Georgia - Cash Advance for any needs

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Last updated:

Welcome to the most convenient in the Peach State of Georgia website offering to compare bad credit unsecured Payday Loans for Georgia residents. To get the necessary cash advance just state the amount of the loan.

Are you in need of a Payday Loan in GA? We can connect a borrower with any credit type with reliable direct lenders or help you compare cash advance online or find Payday Loan store locations near you. Check other options like Installment Loans or Personal Loans which might also suit your needs. 

Compare Payday Loans in Georgia from the Best Direct Lenders Online or find a Loan Store near your location.
COMPACOM – Compare Companies Online

Loans for ANY  NEEDS
APR from 4.99%

Compare Payday Loans from Georgia Direct Lenders and Online Services

Find the best loan offers in Georgia choosing among a variety of legit online and in-store lending companies.

TOP RATED COMPANIES

Rates last updated December 10th, 2019
4.3070362473348

LEND YOU

$1,000
MAX Loan Amount

It’s the maximum sum of cash advance allowed to apply for in the state. It usually ranges from $500 to $1000. But it may vary depending on the lender and his requirements.

17,5%
MIN MPR

The minimal percentage allowed that actually represents monthly cost of your loan. The MPR is based on several things, including the amount you borrow, the interest rate and costs you’re being charged, and the length of your loan.

None, Unsecured
Collateral or Guarantor

Collateral – is some kind of your property which ensures the lender that you will repay the money. Guarantor – is a person that sings the agreement thus giving his guarantee that you will repay the loan. Payday loans are unsecured which means to get cash advance you don’t need either a collateral or guarantor.

Available for Bad Credit

LendYou.com is the easy way to find the cash you need when you need it. You’re looking for cash to pay bills, to buy a car or maybe do some work around the house. LendYou.com has the lenders you're looking for. It's easy. It doesn't matter the size of the loan you're looking for… LendYou may be able to connect you with a lender that can help.

The loans you need, when you need them.   

4.4010416666667

Check Into Cash

$1,000
Maximum Loan Amount

It’s the maximum sum of cash advance allowed to apply for in the state. It usually ranges from $500 to $1000. But it may vary depending on the lender and his requirements.

Varied by state
MIN APR

The minimal percentage allowed that actually represents annual cost of your loan. The APR is based on several things, including the amount you borrow, the interest rate and costs you’re being charged, and the length of your loan.

None, unsecured
Collateral or Guarantor

Collateral – is some kind of your property which ensures the lender that you will repay the money. Guarantor – is a person that sings the agreement thus giving his guarantee that you will repay the loan. Payday loans are unsecured which means to get cash advance you don’t need either a collateral or guarantor.

Available for Bad Credit

Check Into Cash makes it fast and easy for you to get the cash you need quickly. When you go to the website, you simply complete their online application in as little as five minutes and one of their representatives will call you to take you through their secure process. There are more than 700 Check Into Cash centers nationwide. They are a national leader in affordable short-term, small dollar credit solutions. They provide online payday loans, in-store cash advance, in-store title loans, check cashing and more.

4.4112478031634

Greenlight Cash

$1000
MAX Loan Amount

It’s the maximum sum of cash advance allowed to apply for in the state. It usually ranges from $500 to $1000 for Payday Loans, $1000 - $5000 for Installment loans, and up to $15,000 for Personal loans. But it may vary depending on the lender and his requirements.

Varies by state
MIN MPR

The minimal percentage allowed that actually represents annual cost of your loan. The APR is based on several things, including the amount you borrow, the interest rate and costs you’re being charged, and the length of your loan.

Unsecured
Collateral or Guarantor

Collateral – is some kind of your property which ensures the lender that you will repay the money. Guarantor – is a person that sings the agreement thus giving his guarantee that you will repay the loan. Payday loans are unsecured which means to get cash advance you don’t need either a collateral or guarantor.

Available for Bad Credit

Need a financial support? We’ll find you the money when you need it most! Greenlight Cash offers Online loans up to $5,000. Among other benefits are:

  • Any credit is welcome. Have less-than-perfect credit but still need a loan? It’s not a problem! Submit a request, and we’ll find a lender that will be willing to work with you.
  • Simple online process. No lines and no extra paperwork! It takes a few minutes to fill out our short online form, submit it and get a quick decision from a lender.

Smaller tax return than you expected? Apply online for quick cash. Apply

Are Payday Loans Legal in Georgia?

Loan Rates and Fees, Laws and Regulations in Georgia.

Payday lending is restricted in Georgia (Ga. Code Ann. §§ 16-17-1 et seq.)1. There are usury caps on all small dollar cash advances of $3000 or less. But you can get more than $3000, even up to $15000 Installment and Personal loans. The APR is limited to 16%. Maximum 10% interest rate can be charged from a borrower for every $100.

Law status available
MIN Loan Amount $3000
MAX Loan Amount None
MIN. Loan Term Not set
MAX. Loan Term Not set
MAX APR 16%
Additional fees 10% of every $100 borrowed
Collateral or guarantor None, unsecured
Number of simultaneous loans Not set
Cooling off period None
Rollover None
Extension, repayment plan None
Default penalties Prohibited by law
Credit score requirements Available for Bad Credit
Apply online
Law status legal
MIN Loan Amount $1,000
MAX Loan Amount $5,000
MIN. Loan Term 90 days
MAX. Loan Term 36 month
MAX APR 225%
Collateral or guarantor None, unsecured
Credit score requirements Available for Bad Credit
Find out more Apply online
Law status legal
MIN Loan Amount $1,000
MAX Loan Amount $35,000
MIN. Loan Term 90 days
MAX. Loan Term 60 month
MAX APR 450%
Collateral or guarantor None, unsecured
Credit score requirements Available for Bad Credit
Find out more Apply online

Quick and Easy Payday Loans Online

Compare top online companies offering fast cash advance with no faxing, no paperwork, possibly no hard credit check and no teletrack. Filling out a free application form guarantees you instant decision and high approval chances even if you have a bad credit score.

ONLINE COMPANIES

Rates last updated December 10th, 2019
4.3018867924528

Payday Loans USA .online

$1,000
MAX. loan amount

It’s the maximum sum of cash advance allowed to apply for in the state. It usually ranges from $500 to $1000. But it may vary depending on the lender and his requirements.

16,6%
MIN MPR

The minimal percentage allowed that actually represents the cost of your loan charged for a month. It's more important for the customer as mostly Payday loan are borrowed for a month term and paid off with the next paycheck.

None, unsecured
Collateral or Guarantor

Collateral – is some kind of your property which ensures the lender that you will repay the money. Guarantor – is a person that sings the agreement thus giving his guarantee that you will repay the loan. Payday loans are unsecured which means to get cash advance you don’t need either a collateral or guarantor.

Available for Bad Credit

Has life thrown you an unexpected financial curveball? Need a loan? Bad Credit?  Don’t look any further! PAYDAY LOANS USA .ONLINE is here for You. 100% online short-term Payday and unsecured Personal loans from some of the best direct lenders in the USA.

4.0979381443299

Your Faster Payday

$1,000
MAX Loan Amount

It’s the maximum sum of cash advance allowed to apply for in the state. It usually ranges from $500 to $1000. But it may vary depending on the lender and his requirements.

16,6%
MIN APR

The minimal percentage allowed that actually represents the cost of your loan borrowed for a month. It's more significant criterion than APR as mostly Payday loans are borrowed for 14-30 days until the next paycheck.

None, unsecured
Collateral or Guarantor

Collateral – is some kind of your property which ensures the lender that you will repay the money. Guarantor – is a person that sings the agreement thus giving his guarantee that you will repay the loan. Payday loans are unsecured which means to get cash advance you don’t need either a collateral or guarantor.

Available for Bad Credit

How does YourFasterPayday.com work? You’re looking for cash to pay bills, to buy a car or maybe do some work around the house. YourFasterPayday.com has the lenders you're looking for. It's easy. It doesn't matter the size of the loan you're looking for... YourFasterPayday may be able to connect you with a lender that can help. Fill out the block above to get started.

4.238578680203

Fast Holiday Loans

$1,000
MAX Loan Amount

It’s the maximum sum of cash advance allowed to apply for in the state. It usually ranges from $500 to $1000. But it may vary depending on the lender and his requirements.

200%
MIN APR

The minimal percentage allowed that actually represents annual cost of your loan. The APR is based on several things, including the amount you borrow, the interest rate and costs you’re being charged, and the length of your loan.

None, unsecured
Collateral or Guarantor

Collateral – is some kind of your property which ensures the lender that you will repay the money. Guarantor – is a person that sings the agreement thus giving his guarantee that you will repay the loan. Payday loans are unsecured which means to get cash advance you don’t need either a collateral or guarantor.

Available for Bad Credit

Get cash for the holidays! Get a loan of up to $15,000 as soon as the next business day! Wrap Up the Holidays with up to $15,000 in Cash! This holiday season, get the cash you need. We’ll connect you with a lender who can provide up to $15,000 to take care of all of your holiday expenses!

Benefits:

  • Easy Online Application
  • Safe and Secure
  • Fast Decision
  • Trusted Source

PayDay Loan Calculator

?
Select the amount for the loan you want in order to get the principal, which is the basis that we use to calculate the interest and the total cost of the cash advance.
?
The number of days within that you will be ready to repay the loan. It’s used to count the total cost of cash advance by multiplying the days by the amount of interest.
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To calculate the total cost of your loan, we take the minimal average APR legal in all States, which is 36%. This figure is only a representative, providing you with general information on how much the loan may cost. To find out a more accurate total, fill in the Annual Percentage Rate required by the lender you want to apply to.
?
It’s the money charged by the lender for doing all the necessary paper work, bank transactions, etc., connected with lending you the money.
$ Your loan
+ $ Your fee
= $ Total Cost*

* Total Cost - The sum of money you are to pay off within the term you’ve chosen if you borrow the stated above amount for the average (or required by your lender) APR.

All the calculations are provided as guides only. They don’t guarantee 100% the same cost you are going to be charged but they do help you understand the overpay much better. Unless you change the APR, the calculations will be based on the average or lowest rate represented by most lenders for each loan type. You’ll find the accurate interest rate as well as the real cost of your cash advance after you get approved before you sign the agreement. It will depend on many factors including the amount, the term of the loan, your credit score and the lender’s conditions. Interest rates are not fixed figures and are subject to change at any time. As soon as you fill out an application and get approved all the details concerning the rates and terms will be sent to you.

Before you apply for a short-term cash advance consider other Payday Loan Alternatives

A warning about short-term payday loans

Applying for a short-term Payday Loan you should be very careful and responsible. Plan your budget carefully not to default the loan. Though an overpay may be only $1 a day for 100 dollar cash advance you must remember that not paying off the money on time may lead to additional penalty or NSF fees and high total cost.

So, before you make a final decision to apply for a Payday Loan consider other alternatives that may be helpful when you need urgent funds:

  • Think of other more affordable types of loans with lower rates and fees and longer repayment terms such as Installment Loans and Personal Loans,;
  • Consider Debt Consolidation Loans, Credit Builder Loans, Credit Cards;
  • Try social services and local assistance programs;
  • Look for additional part-time jobs or some side gigs and freelance opportunities;
  • Start recycling for money;
  • Address a person able to help you – employer, creditors, family and friends;
  • Use traditional banks or credit unions to get cash.

And keep in mind that the most important thing about any loan, especially Payday Loan is to pay it off on time. It helps you avoid rollovers, renewals or extensions and increases your chances to get out of debt fats and easy.

Getting a short-term Payday Loan in Georgia may become a problem as short-term cash advances are prohibited in the state. Small dollar loans are strictly regulated by authorities and governed by statutes 16-17-1 et seq., 7-3-14 et seq. and 80 3-1.02(7). All lenders, both in-store and online must follow the rules stated by the state. But there are other options to get the money such as Installment Loans and Personal Loans.

Table of Contents:

Payday Loans in Georgia

Cash Advances available in Georgia

Top Payday Loan Companies in Georgia

Are Payday Loans Legal in Georgia?

Payday Loan Interest Rates in Georgia

Online Payday Loan lenders in Georgia

Payday Loan Calculator in Georgia

Geaorgia Payday Alternative Loans

Payday Loan Requirements in Georgia

Payday Loans rules and regulations in Georgia

Online Payday Loans in GA

Bad credit Payday Loans in Georgia

Quick Same Day Payday Loans in Georgia

How much Payday Loans cost in Georgia?

Payday Loans from Direct Lenders in Georgia

Payday Loans near me in Georgia

No credit check Payday Loans in Georgia

Georgia cash advances to get the necessary funds

What are Payday Loans?

How do Payday Loans Work in Georgia

Compare Payday Loans Locations in Georgia

FAQ

References

Payday Loans rules and regulations in Georgia:

  • MIN loan amount of $3,000
  • The terms are not stated
  • MAX interest of 16% a year
  • Loan fees are 8% for the first $600, then 4% for everything above $600.

If your lender doesn’t abide by these regulations, don’t agree to the loan contract. Instead, contact the Georgia state attorney general and file a report. The contact details of the regulating authority are:

Georgia Office of Insurance and Safety Fire Commissioner

Industrial Loan Division

2 Martin Luther King Jr. Drive, West Tower, Suite 720

Atlanta, GA 30334

Phone: (800) 656-2298

Online Loans in GA 

Online lending is becoming more and more popular as it has plenty of advantages:

  • it gives you a chance to compare a lot of different offers at once,
  • you can avoid driving, doing paperwork and waiting in lines,
  • applying is free and simple, 
  • you have very high chances of approval even with a bad credit score,
  • you can find some lenders ready to give you the loan with no credit check,
  • it's available 24 / 7.

The process of applying online is quick and simple:

 

you compare the lenders and choose the one with the best rates and fees;

 

 

 

you fill out the necessary information in the application form

 

 

you get the money deposited into your account within 1 business day

 

 

 

you pay off the loan with your next paycheck

 

 

 

Bad credit Payday Loans in Georgia  

Bad credit loan is the type of credit given to borrowers with a FICO score below 640. You usually need at least 600 to qualify for such loan. To get money you may turn to credit unions, family, friends, peer-to-peer lending platforms or use online lending service. When choosing an online lender for a bad credit loan, there are important features to take into account. You can find all these important criteria on COMPACOM.com website, which gives you a unique opportunity to compare companies. Pay attention to:

  • Type of lending company
  • Credit history and general qualifications
  • Co-signer option
  • Additional eligibility qualifications
  • Employment requirements
  • Interest rates and types
  • Loan terms
  • Fees and penalties
  • Repayment options

The types of loans available for bad credit applicants are Payday Loans, Personal Loans and Installment Loans. They typically have higher interest rates and shorter terms than loans offered to people with good credit. You are most likely to get a Payday cash advance as its amount is not very high, $100 - $1000, and the APR on the contrary may exceed 400%. This fact shouldn’t frighten you as due to short (14 - 30 days) term the overpay could be only $1 a day.

Quick Same Day Payday Loans in Georgia 

Payday Loans, Installment Loans and Personal Loans are considered to be fast because:

  • it takes only some minutes to apply
  • you get instant decision
  • the money is deposited into your bank account within a day, or sometimes - an hour.

If you really need money fast consider applying in-store. Check cahsers may give you the cash at once.

The main reasons to apply for a Payday Loan are:

  1. You get the funds fast. Banks take a while to qualify you for a loan. Direct lenders usually guarantee instant approval.
  2. You can spend the money on any personal needs you have. 
  3. It's possible to find a lender ready to approve you with no credit check
  4. If you have bad credit score and can't get a loan from banks and other traditional financial institutions, you can always find a direct lender ready to help you.
  5. The requirements for a Payday Loan are very simple.

How much Payday Loans cost in Georgia? 

The total cost of any loan consists of the principal, interest and additional fees. A payday lender may only charge a maximum fee of 16% a year. Loan fees are 8% for the first $600, then 4% for everything above $600.

To find out how much the necessary amount Payday Loan will cost you may use our calculator.

Payday Loans from Direct Lenders in Georgia

Both online and in-store direct lenders must:

  • be licensed and follow the rules set by the state;
  • include the most relevant information on the first page of your contract: the amount of the loan, the terms of the loan, the cost of the loan;
  • never ask for or accept payment by automatic deduction from your paycheck (assignment of wages)
  • explain the cost of a payday loan and its possible consequences.

If you default a loan, a lender is prohibited from any criminal actions and can’t:

  • bother you phoning more than 3 times a week (not including regular mail) or on holidays
  • contact your relatives or friends
  • process a post-dated cheque several times leading to overdraft or insufficient funds fees 
  • threaten you or use foul language

First of all, before choosing a lender do some research, don't apply with the first company you see, be responsible as it can influence your future financial wellness.

  • Surf the Internet;
  • Use some comparing services such as compacom.com;
  • Read the customers' reviews, etc.

Before signing an agreement with a lender find out:

  • if he is licensed by the Division of Banking and Securities;
  • if he follows all the state's rules and regulations concerning amounts, terms and fees for Payday Loans;
  • if he promises and guarantees too much or seems too good - keep in mind that several loans at a time, no credit check loans, garanteed approval are more likely to be a myth;
  • if he has a safe website and protects your personal information.

When you do sign an agreement with the lender you've chosen don't forget what the Georgia law says about it:

  • the agreement must contain the name and address of the lender and his office, the name of the lender's representative who signed the agreement, a clear description of the agreement including the date of the loan, the amount, the loan term, and the transaction number.
  • there mustn't be any prepayment fees, 
  • no additional guarantor can be required,
  • the money should be provided in the form of cash, other forms are allowed only with the borrower's agreement,
  • a borrower should get the copy of this agreement 

Payday Loans near me in Georgia

If you are searching for Payday Loans near you in Georgia, you're likely to need store locations with address and so on. It may be a good idea if you borrow money for the first time and require a personal assistant's help or if you want to get the cash advance as fast as possible, same day. But in other cases, there's nothing more convenient than applying for a Payday Laon online filling out a simple loan request. Thus you get an opportunity to compare various lenders, choose the most suitable offers with the lowest rates, and save time and energy. Besides, online Payday Loans are highly available even for bad credit borrowers in Georgia. Some direct lenders offer No credit check loans, and practically no one requires a collateral.

If you're still looking for locations of Payday Loan stores in Georgia in your city, use our Payday Loan store locator. Find the addresses, directions, phone numbers and other relevant information which will help you find the cash advance faster and easier.

No credit check Payday Loans in Georgia 

To find the lender ready to approve you for a Loan without credit check is hard but possible. But you must understand that the fees for such cash advance may be higher than usual as it's more risky for the lender. So consider getting a loan with at least soft credit check. It'll make the process more safe for both you and the lending compeny and the loan will be cheaper. Still it won't damage your credit history.

Georgia Payday Loan alternatives to get the necessary funds:

As Payday Loans are illegal in Georgia, it is still possible to get credit or cash in other ways.

  • Installment Loans. They are available in the amounts of $1,000 - $5,000. The terms vary between 36 – 60 months. The repayment is in fixed monthly installments.
  • Personal Loans. Get up to $35,000 for any personal needs without a guarantor or collateral for up to 7 years term.
  • Title loans, or Pawn shops.Unlike payday loans, title loans in Georgia are legal—but they, too, are capped. In Georgia, title loans are classified and regulated as “pawn loans” under Section 44-12-130 of the Georgia Code.

There are currently 375 car title lenders in Georgia, which means one store for every 19,190 people.

  • Credit card cash advance.If you have a credit card, consider a cash advance. Although expensive, this usually has lower interest than payday loans and can help you get through a rough financial period.
  • Tribal loans.These are money from tribal lenders which operate on Native American sovereign land and aren’t regulated under state law. Make sure you’ve checked the lender’s reviews and reliability.
  • Get out a conventional loan from a bank or credit union. They are sometimes cheaper but take longer to get. Moreover this option doesn’t suit borrowers with bad credit and those who don’t have a bank account or are not a member of a credit union.
  • Speak with your creditors to settle your debt. If you are going to apply for a Payday Loan because of some large bill you can’t pay, consider regulating this debt in another way. Discuss it with your creditor. He may reduce the payments. You may ask a debt relief company for help in these negotiations.
  • Try to apply through a loan connection service. They may find a suitable lender willing to offer you a small-dollar loan. Keep in mind that the lender you’re ultimately connected with must have interest rates and fees that abide by Georgia’s law.
  • Ask family and friends for help. It may sound a bit embarrassing but it will definitely be the cheapest solution. Just don’t forget to pay the money back if you don’t want to spoil the relationship.
  • Apply for a Government assistance programs.Georgia has quite a few public assistance programs that you may want to apply for. These include HomeSafe Georgia, the Energy Assistance Program (LIHEAP), Medicaid, Temporary Assistance for Needy Families (TANF) and the Heating Energy Assistance Team (HEAT). The variety of help can be great when you need a little bit extra to get by but don’t want to take out a new line of credit.

Requirements to qualify for a Payday Loan in Georgia:

What do I need to qualify for a short-term cash advance?

Independent lenders have their own individual requirements that must be met, but typical minimum requirements include, but may not be limited to:

  • Georgia (US) residence
  • Minimum regular income of $1,000 per month
  • Valid checking or savings account with direct deposit
  • Phone number and e-mail address (if applying online, you must be able to be contacted via phone if verification of application information is necessary)
  • Not be a regular or reserve member of the Air Force, Army, Coast Guard, Marine Corps or Navy (or be a dependent of someone who is,) serving on active duty under a call or order that does not specify a period of 30 days or fewer.
  • If applying Online, you must provide a valid Social Security Number
  • If applying at Loan Store, you must bring a valid government issued photo ID. A Social Security Number might not be required
  • If applying in-store, you must bring proof of income and proof of a bank checking account. Debit cards or pre-printed checks may be accepted in your state as proof of bank checking account; contact your local store for details. Acceptable documents may vary by state.

NEED CASH FAST?
  • Payday Loans $100 - $1,000
  • Personal Loans $1,000 - $35,000

FAQ

WHAT IS A PAYDAY LOAN? 

A payday loan is a short-term unsecured loan given in the amount of $100-$1,000 and paid off within 14 - 31 days with the next pay-check.

The main characteristics of Payday loans (which can be also called payday advance, salary loan, payroll loan, small dollar loan, short term, or cash advance loan) are:

  • they are short-term (14-30 days),
  • they are small dollar (up to $1000),
  • bad credit is OK, i.e. they are available even for borrowers with poor FICO credit score,
  • high-cost (with the APR from 391% to 3,733%)
  • unsecured (they are given without any collateral).

Most people choose Payday cash advance due to its:

  • availability for bad credit
  • quickness of applying and getting
  • easiness and convenience of repayment

HOW PAYDAY LOANS WORK? 

Payday Loans main characteristics are: small-dollar, short-term unsecured cash advances which are quick and easy to get. Even borrowers with bad credit can apply either online or in a store.

  • They just fill out an application.
  • Lenders decide whether to approve or deny the candidate.
  • In the first case the money is deposited into your account within 24 hours.
  • The borrower writes the check for the amount taken plus fees and as soon as the loan is due the lender can cash it.

The process is:

  • Fast (a minute for applying, a couple of minutes to get approved, less than a day to get the money);
  • Easy (no driving, waiting in lines, doing paperwork, looking for a guarantor or collateral is required);
  • Safe (you private information is secured and all your rights are protected as we work only with legal state authorized companies).

HOW CAN I TAKE A PAYDAY LOAN IF I HAVE A POOR OR FAIR CREDIT SCORE? 

Bad credit loan is the type of credit given to borrowers with a FICO score below 640. You usually need at least 600 to qualify for such loan. To get money you may turn to credit unions, family, friends, peer-to-peer lending platforms or use online lending service. When choosing an online lender for a bad credit loan, there are important features to take into account. You can find all these important criteria on COMPACOM.com website, which gives you a unique opportunity to compare companies. Pay attention to5:

  • Type of lending company
  • Credit history and general qualifications
  • Co-signer option
  • Additional eligibility qualifications
  • Employment requirements
  • Interest rates and types
  • Loan terms
  • Fees and penalties
  • Repayment options

CAN I GET A PAYDAY LOAN WITH BAD CREDIT SCORE? 

Bad Credit Payday Loan is the type of credit given to borrowers with a FICO score below 640.

 “A credit score is a numerical expression based on a level analysis of a person's credit files, to represent the creditworthiness of an individual. A credit score is primarily based on a credit report information typically sourced from credit bureaus”.

It can influence the amount, the terms, interest rates and actually your eligibility for the credit.

If you have a bad credit, you can still apply for a Payday Loan. It’s up to the lender to decide, but they often approve such candidates. They typically have higher interest rates and shorter terms than loans offered to people with good credit.

 

What are Payday Loans in Georgia?

All you need to know about Payday Loans.

Payday loans, or as they are also called “small dollar”, “bad credit”, “same day”, “short term”, “cash advance” are a kind of easy quick unsecured $100 - $1000 cash advance paid off with your next paycheck in 14 – 30 days. As soon as you are approved you are likely to get the money in your account in 24 hours or even the same day. Bad credit is not a problem to receive the necessary funds. Most direct lender Payday Loans are granted to any borrower with a steady income.

So, the main characteristics of Payday Loans are:

  • $100 - $1000 average loan amount;
  • 14-30 days repayment term;
  • money in your account in 24 hours or even the same day;
  • available even for bad credit;

Interesting to know!

More than 12 mln Americans use cash advance every year.

It’s legal in 36 states (with some restrictions in 9 of them) and prohibited in the other 14 and the District of Columbia.

You can take a Payday loan in storefronts, online and even in a few banks in Georgia. It’s very simple to apply for it:

  1. just fill out a form with the state and e-mail address,
  2. if you are over 18, have a permanent job, income and a valid bank account, you have 98% chance to get instant approval from a direct lender;
  3. receive the money in your bank account less than 24 hours.

Payday loans are very attractive for the majority of borrowers because you don’t need any guarantor or collateral, and you can get it even with a bad or poor FICO score.

On the other hand, they are notorious for charging too high APR and leading to a continuous debt trap, but it’s a common myth. To debunk it we provide you with the cost of $100 Payday Loan at 400% APR for 14 days which is only $1 a day. You can calculate the cost of your loan free using our Payday Loan Calculator. Try Payday cash advance and make sure that it’s really as easy as ABC: Affordable, Beneficial, Convenient!

How do Payday Loans Work in Georgia comparing to Installment Loans and Personal Loans?

Payday loans in Georgia are small dollar ($100 - $1,000) short term (14-30 days, in some cases up to 3 month) cash advance which is characterized by its easiness, speed, availability, even for those with bad credit, or without a credit history.

Payday lending is strongly regulated. Some states restrict or prohibit short-term loans for high costs.

Installment loans in Georgia are $1,000 - $5,000 credit borrowed for 6 – 36 months and paid back in equal repayments, usually unsecured and available for those with bad credit score.

Personal loans in Georgia are $5,000 - $35,000 credit granted for personal use, usually unsecured, backed up only by your ability to pay it back, for 6 – 60 months and repaid in equal installments.

The process of getting a Payday Loan in Georgia is quick and easy both online and in-store:

  1. Fill out a simple application form stating the amount you need, your name and e-mail address;
  2. Get instant decision and approval from one of the best direct lenders;
  3. Read the agreement and if you are satisfied with its terms and conditions sign it;
  4. Get the necessary funds in your account within 1-2 days if you apply online or same day if you go in a store.

Read more: How Payday Loans work.

Georgia Payday Loans vs Installment Loans vs Personal loans.

The key differences between Payday, Installment and Personal loans lie in their amount, repayment terms and rates. It can be seen more vividly in the form of the table:

 

Payday loans

Installment loans

Personal loans

Amount

100$ - 1,000$

1,000$ - 5,000$

5,000$ - 35,000$

Term

14 - 60 days

60 days - 36 months

Up to 60 months

Repayment

With the next paycheck

In scheduled installments every fortnight, month, 2 months.

Monthly, or in parts as it’s set in the agreement.

Interest rates, APR

APR – 300%-750%, plus 10-15% of 100$ borrowed

5.99% to 225% APR plus 5% fee

3.99% APR plus 450% origination fee

Collateral or guarantor

No

No

No

The APR is the loan interest rate and is based upon the amount, cost and term of the loan, repayment amounts and timing of payments. Lenders are legally required to show the APR and other terms of your loan before customer executes a loan agreement. APR rates are subject to change.

Taking into account the enumerated peculiarities this or that cash advance is preferred by certain borrowers for their special needs.

Payday cash advances are mostly applied for by people with bad credit, with a low income, who need a little cash for a short period. While Installment and Personal loans better suit the borrowers with good or bad credit, who want to take out higher amounts of money and need more time to pay it back, and don’t want to do a lot of paperwork looking for a collateral or guarantor.

Benefits of different types of loans:

Payday loans

  • Easy, quick way to get extra cash
  • Short repayment term, possibility to pay it back with the next paycheck
  • Suitable and convenient for emergency expenses

Installment loans

  • Higher amount than a payday loan
  • Smaller interest rates
  • Easier to pay off in installments over a longer period of time

Personal loans

  • Rather high amount of money
  • Available without guarantor or collateral (in contrast to mortgages, auto loans, etc.)
  • Easier to pay back having a precise scheduled plan.

As we can deduce, there are credit types, with their advantages and disadvantages, to suit needs and wishes of any American. The only thing you must do – get information and compare the offers. That’s exactly what our service helps you with. COMPACOM – compare all and choose the best one!

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APR from 4.99%

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APR from 4.99%

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