Every state has different laws regarding pay day lending. The laws cover such topics as the maximum amount a person can borrow in a pay day loan, the maximum interest rates and finance fees a lender can charge, and the period of time a borrower has to repay his loan. There are also state laws governing the number of rollovers or extensions a borrower can request if he is unable to repay the full loan amount on the due date.
In North Carolina, the state government has been trying to eliminate pay day lending entirely. Businesses that wish to to provide pay day loans to consumers must first obtain a special license from the state. The maximum pay day loan amount is $500. The term of a loan can extend up to sixty days. Both the finance fees and the APR are unspecified. Borrowers in North Carolina are allowed four rollovers if they need additional time to pay off their loans.
North Carolina Pay Day Loan Laws
Maximum Loan Amount: $500
Maximum Interest Rate: unspecified by state law
Annual Percentage Rate: unspecified by state law
Maximum Payoff Time: 60 days
Extensions Allowed: four rollovers are allowed on pay day loans
Top 5 North Carolina Pay Day Loan Companies
2405 Randleman Road
Greensboro, NC 27406
www.urgentmoneyservice.com
This company requires a weekly income of at least $250., or $600 per month. The company states they can issue pay day loans to North Carolina borrowers up to $10,000 if they meet the strict qualifications for such a large loan. This company doubles as a pawn shop so you have the option to get small loans on merchandise you don’t particularly use or don’t want anymore as well. It’s nice to have multiple options and Urgent Money Service provides them.
1100 North Miami Blvd
Durham, NC
(919) 682-3590
acecashexpress.com
Ace Cash Express is probably a familiar name for people no matter where they live in the US. You can find these stores in most cities that allow payday loans and they have a reputation for being very quick and easy to qualify with. In the state of North Carolina, Ace offers payday loans up to $500 including their fees. You can apply online with this company from anywhere so even if you’re traveling, you can use them to get some emergency funds should you need them.,
1800 Camden Rd Ste 107
Charlotte, NC
(866) 314-5265
quickpaydayadvance.info
Charlotte Payday Loans is a franchise of the AmeriAdvance network that operates all across North America and even overseas. This company is best known for having a very easy to use website that is full of information that can help you make a decision regarding your payday loan amount . You can find all their rates and fees listed on the website but you can also call or visit this office to see if they have any specials or deals currently running.
2437 North Church Street
Burlington, NC
(336) 227-2274
qcpawn.com
Though this has a similar name, this company isn’t associated with “Quik Check” at all. Instead, this company is primarily a pawn shop and payday loan vender that works with Alamance Financial to help you get short-term loans whenever you need them. They have relatively easy to meet qualifications so you can use this company even if you’re on a fixed income such as social security or disability. The more you use them, the higher the dollar amount you can borrow.
3816 North Liberty Street
Winston-Salem, NC
(336) 506-0549
ptfinance.info
Opo Finance is another office that provides short-term financial solutions to residents of North Carolina but is associated with AmeriAdvance. AmeriAdvance basically runs the website portion of this company while the physical office is privately owned. This actually offers you two distinct ways to apply for a loan and get your money. If you live nearby, you can visit them in person but if not, you can simply use a computer or other mobile device to apply online.