Ohio

If you need an Ohio cash advance, you will be happy to know that you can choose find payday loan companies throughout the state. Whether you need cash advance loans Columbus Ohio or Cincinnati, you can find what you are looking for. When choosing a no credit check cash advance Ohio, here is some information to keep in mind.

Interest Rates
Cash advance in Ohio loans are limited to 30% interest rate annually. Any company you are borrowing from will not be allowed legally to charge more interest than this. These laws do not necessarily apply to companies found on the Internet that are based in other states, although you may have limited recourse if you should run into problems with out-of-state companies.

Fees
While Ohio payday loans are limited in the amount of interest they can charge, they are still able to charge many other fees. The fees can quickly add up to higher levels and you should be aware of what you will have to pay back before accepting the loan. Whichever payday loans Cincinnati company or payday loans Columbus Ohio company you choose, be sure that their fees are clearly posted in the business and on their website, if they have one. Ohio law does limit the origination fees to no more than $5 for every $50 borrowed. They may also have a check collection fee that is capped at $20.

Licensure
If you choose payday loans Cleveland Ohio you can expect that the company will have an Ohio license. When working with payday loans in Ohio, look for the license to be openly displayed in clear view in the lending office. They may also have a copy online.

Contracts
Online payday loans Ohio and cash advance Columbus Ohio companies alike are required to offer contracts that clearly disclose all the fees that are being charged along with the annual percentage rate.

Terms
Cash advance Cincinnati companies and payday companies throughout the state are not allowed to defer loans beyond 6 months. The maximum amount that can be borrowed at cash advance Dayton Ohio companies and payday lenders statewide is $500.