California tightly regulates payday loan companies to ensure people don’t borrow more than they can payback on their next payday and still survive. The maximum amount you’re able to borrow in California is just $300 and you have a maximum of 31 days to pay it back. The maximum fees are 15% of the total check with finance charges of $17.65 on every $100 borrowed. If you borrow $100 for 14 days the APR works out to 459%.
California Pay Day Loan Laws
Maximum Loan Amount: $300
Maximum Finance Rate: 15% of the total loan.
Annual Percentage Rate For 14 Day $100 Loan: 459%
Minimum Payoff Time: CA has no minimum but the maximum is 31 days.
Extensions Allowed: 0 but repayment plans are on option.
Top 5 California Payday Loan Companies
3445 Midway Drive
San Diego,CA 92110
619.223.6669
moneytreeinc.com
Multiple Physical Locations in CA
Money Tree has tons of locations in California and is probably one of the most visible payday lenders in the state. Odds are you’ve driven by one or seen the commercials no matter where you live. This company directly lends you money with a maximum amount of $255 in California. This company offers many other finance related services but the main focus is payday loans.
thepaydayplace.com
Online Company
The Payday Place is an online lender finding company that uses your specific information to find the perfect payday loan company for you. Companies like this keep vast databases of payday loan companies and after you fill out the application, items like your income, employment status and account standings are matched against lenders in your area. This can save you a lot of time if you’ve had more than one job this year or have had some issues with your checking account.
americancashmarket.com
Headquarters
2207 S. Sepulveda Blvd.
Los Angeles, California 90064
American Cash Market is a Los Angeles based payday loan company that provides short term loans to help get you by until next payday. Short-term payday loans are popular to use during emergency situations or simply when you don’t want to wait until payday and need some extra cash. This company is based in LA so is very familiar with the California payday loan laws and can help you get cash quickly.
15821 Ventura Blvd. Suite 280
Encino, CA
(800) 562-6627
800loanmart.com
1-800 LoanMart is a California-based car title loan company that lets you fill out a free approval application online. Once this is done you’ll be sent some paperwork to fill out and when you simply fax it back you’re ready to have the money deposited in your account. California regulations restrict regarding loans so by using your car title as collateral this entire process is much easier. The website is very informative and has a lot of useful information for California residents.
8516 Paramount Boulevard
Downey, CA
(562) 927-5000
paydayloan.com
PaydayLoan.com is one of the oldest payday loan companies that functions primarily as an online service to match customers with licensed lenders in their immediate area. You fill out the application on the website then are instantly matched with a company that will work with you regardless of your credit history or previous problems with certain lenders. This allows a lot of flexibility when you decide how much to borrow.
—