Direct Payday Loan Lenders In Texas
ACE Cash Express is not a direct lender in Texas and operates as a Credit Access Business (CAB). Loans are arranged by ACE Credit Access LLC and made by an unaffiliated third party lender.
Max Loan Online :- $200 – $1,500*
Max Loan In-Store :- $100 – $1,500*
Example APR :- 661.71%* (Calculated based on $1000 loan with 14 day term.) The actual APR varies on the loan term and amount.
Loan Term :- Minimum 9 Days to maximum 35 days.
Check Into Cash operates as a Licensed Credit Access Business (CAB) in Texas, licensed by the Office of Consumer Credit Commissioner. Loans are made by an unaffiliated third-party lender.
Max Loan Online :- $1500*
Max Loan In-Store :- $1000*
Example APR :- 664.25%* (Calculation based on $500 loan with 14-day term) APR may vary based on loan duration and amount.
Loan Term :- 14 days
10 Store locations in Texas.
MoneyMutual.com is a lender connection service offers access to cash advance payday loans in Texas through its large network of reputable direct lenders and trusted loan providers.
Max Loan amount range:- Upto $2500*
Loan term range:- (Varies on the lender and State Laws)
Your lender or financial service provider will solely determine the loan term, amount, fees, and interest rates.
MyFastCash.co is a lender connection service provides access to payday advance loans online in Texas through a large network of partnered lenders and financial service providers.
Max Loan amount range:- $100 to $1000
Loan term range:- 10 to 90 days (May vary depending on the lender and State Laws)
Your lender or financial service provider will solely determine the loan term, fees, and interest rates.
CashNetUSA operates as a Credit Access Business (CAB) in Texas and will not be a direct lender, licensed and examined by the Office of Consumer Credit Commissioner. Loans are made by a third party lender and will be serviced by CashNetUSA once it is issued.
Max Loan Online :- $1800*
Example APR :- 664.25%* (Calculated on $500 loan with 14 day term) The actual APR may vary based on loan duration and amount.
Loan Term :- 8 to 35 days.
Payday Loans In Texas
Texas Payday loans are a good way to get money in case there is an emergency. Whether you are short on cash to finance something like a hospital bill or a wedding event, you can get this quick loan to come over your financial inconvenience.
No matter what you need fast cash for, a payday loan will help you in covering your finances and pay for whatever it is. Usually, you will receive the funds within 24 working hours, which makes this facility helpful. But, it is important to keep in mind that you will be required to pay your lender back in a span of few weeks.
Make sure that before you apply for a payday loan, you are confident that you will be able to pay back the lender or it might cause unpleasant situations for you in the future. If you have a steady job or a financial backup which might pitch in to help you out when you have to pay back, it is safe to borrow a payday loan.
How much amount can Texas payday loans offer?
As per the Texas OCCC (Office of Consumer Credit Commissioner) website, which regulates financial services in the state. Texas payday loans do not have any specified limit on the amount you can borrow at storefronts or online. However, due to the nature of this loan, which could just be used for short term, Credit access businesses (CAB) may set up their policy to cap the maximum amount they can offer.
Usually, Payday loans range between $100 to $1000, but in the case of Texas, this amount may range up to $2000 depending on the provider’s internal policies. But, in most cases, you may not be offered more than 20% to 30% of your gross monthly income.
What is a Credit Services Organization/Credit Access Business in Texas?
Credit Services Organizations (CSO): – CSOs have been functional since 2005 and registered with the secretary of state for conducting business in Texas. Under section 393 of the finance code, CSOs are authorized to assist consumers in improving their credit history or rating in exchange for a fee, and in obtaining an extension of credit through a third-party lender. CSOs acts as a broker to arrange a loan from an individual 3rd party lender for a fee.
Credit Access Business (CAB): – CAB is the new version of CSO, effective January 1, 2012, businesses registered as Credit Services Organizations (CSO) under secretary of state, were transitioned by the Texas OCCC (Office of Consumer Credit Commissioner) as Credit Access Business.
The new laws and regulations which kicked in, need CABs to acquire a license to operate in the payday loan space. However the business model continues to be the same, they will act as intermediates/broker between the borrower and a third party lender. The CAB will service the loan from the day it was obtained until the time it was paid back and will charge a fee for their assistance.
Eligibility requirements for payday loans in Texas.
- Active bank account open for 30 days or more.
- A verifiable steady source of income from an existing job or other sources.
- At least 18 years of age or above.
- A valid social security number, email address, and a contactable telephone number.
- If employed, minimum $1000 net income per month, on social security or retired minimum $800 per month.
Example Fees Chart for Texas Payday Loans.
| Loan Amount | Lender Interest (10% per annum) | CAB Fee | Total Amount Due | APR (14 days) Loan Term |
|---|---|---|---|---|
| $200 | $0.76 | $50 | $250.76 | 661.69% |
| $300 | $1.14 | $75 | $376.14 | 661.69% |
| $500 | $1.90 | $125 | $626.90 | 661.69% |
| $1000 | $3.81 | $250 | $1,253.81 | 661.71% |
| $1500 | $5.72 | $375 | $1,880.72 | 661.72% |