The state of Utah is one of the most liberal states in the union when it comes to payday loan laws and regulations. Technically, payday loans and other types of short-term loan are unregulated by the state itself. The duty of regulation is put into the hands of the payday loan companies and the borrowers themselves. While this might sound like there’s a lot of opportunity for borrowers to be taken advantage of, it’s actually quite the opposite. What you have is multiple payday loan companies competing with each other to offer borrowers the lowest rates possible.
There aren’t any limits set on dollar amounts, interest rates or annual percentage rates. The only limitation experience with a traditional payday loan in the state of Utah is the maximum payoff time which is set at 12 weeks. 12 weeks is quite a long time when compared to surrounding states so this offers borrowers a unique opportunity and a surprising amount of freedom.
Utah Pay Day Loan Laws
Maximum Loan Amount: no set limit
Maximum Interest Rate: no set limit
Annual Percentage Rate: no set limit
Minimum Payoff Time: no set limit
Maximum Payoff Time: 12 weeks maximum
Extensions Allowed: none specified
Top 5 Utah Pay Day Loan Companies
498 N. 900 W.
Kaysville, UT 84037
Money4YouPayDayLoans is a Utah-based pay day lender. While borrowers have the option of applying for a loan through the website, the company also has nearly two dozen stores throughout Utah. Utah borrowers are eligible for up to $3000. This company offers low fees on pay day loans, with a fee of only $10. on a $100. loan to be repaid within one week.
15 South State Street
Orem, UT
(801) 221-9090
checkcity.com
Various locations throughout Utah
CheckCity has pay day lending stores in twenty-eight cities and towns throughout Utah. Borrowers can also fill out a loan application online if traveling or simply residing in a rural area of the state. There is also the option of applying by phone. This company also offers a wide variety of other financial services such as check cashing, Western Union, electronic bill paying and much more.
4625 S. 2300 East, #202
Holladay, UT 84117
(800) 991-8037
cashone.com
CashOne is another Utah-based company. Borrowers can choose between standard service and emergency service. The former will get funds to you within a day, while the latter requires only one hour. First-time borrowers can receive no more than $300 but this limit will significantly increase over time once you establish a good reputation with the company. You can often get special promotional discounts and/or coupons if you use their services frequently.
1752 Combe Road, Suite 1
Ogden, UT 84403
(801) 627-9504
usacashservices.com
This company offers borrowers the option of applying for a pay day loan online, or at one of their thirteen stores in Utah. You can receive your loan funds in your bank account or on a USACashServices debit card. This company is a direct lender, and has a valid business license. The USACashServices.com website has a loan calculator so borrowers can find out exactly how much their loans will cost before applying so the exact repayment amount is crystal clear.
Raincheck Corporation
671 North State Street
Orem, UT 84057
raincheckutah.com
Borrowers can begin the loan process by filling out and printing the online application found at RainCheckUtah.com, they must visit one of the stores to actually apply for a pay day loan. RainCheckUtah currently has nine stores in the state. When a loan is approved at the store, the borrower will be given a check for his loan funds. If this is the first time you have applied for a loan from RainCheckUtah, having your loan verified and approved will take up to thirty minutes.