Payday Loans in Dayton, New York

All Credits Welcome!

If you have a bad credit score, then don’t worry – it’s not an issue for us!

TGL Loan Services

You can get your money fast after filling out the simple form on the "Get Started" page! Lenders cannot guarantee the approval, but they could approve your loans, even if you are unemployed, receiving government benefits.

Fast Money In Your Bank

You can get your money within hours after filling out the form! We work 24/7 for you!
  • This form is protected with secure 256-bit SSL encryption
  • By clicking “Get Started”, I consent and agree to the Privacy Policy and Terms of Use.

No payday loan companies in Dayton, NY. Consider companies in other cities:

Company nameAddressZip codePhone number
Triboro Postal Federal Credit Union 142-02 20th Ave Rm 1128, Flushing, NY 11351 +1 (718) 961 - 7585
Fairway Independent Mortgage Corporation 49 W Merrick Rd Suite 200, Suite 200, Freeport, NY 11520 +1 (516) 781 - 8600
Senior Reverse Network Reverse Mortgage 111 W Main St 110, Bay Shore, NY 11706 +1 (800) 985 - 7383
ESL Federal Credit Union 1271 Fairport Rd, Fairport, NY 14450 +1 (585) 336 - 1000
Empower Federal Credit Union 278 Genesee St, Chittenango, NY 13037 +1 (315) 477 - 2200
Sterling National Bank 70 Canal St, Ellenville, NY 12428 +1 (845) 647 - 4300
Citizens Bank 882 Loudon Rd, Latham, NY 12110 +1 (518) 783 - 8274
Parks Heritage Federal Credit Union 5 Murray St, Glens Falls, NY 12801 +1 (518) 926 - 4700
KeyBank 9015 N Seneca St, Weedsport, NY 13166 +1 (315) 834 - 6663
Pomclb Check Cashing Inc 16039 Rockaway Blvd, Jamaica, NY 11434 +1 (718) 978 - 3654

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Dayton, NY, you can try to find different companies in big cities near by. Check out the following pages here: Emergency Loan in Franklin Square, NY, Payday Loan Without a Credit Check in Freeport, NY, No Credit Check Loans in Guilderland, NY, Payday Loan Without a Credit Check in Hamburg, NY, Payday Loans in Haverstraw, NY, Payday Loans in Hempstead, NY, Payday Loans in Henrietta, NY and Payday Loan Companies in Hicksville, NY. But also, you can apply for a loan online, not coming out of your home. Just fill out a simple application on our website and we will connect you with trusted direct lenders in Dayton, NY.

Payday Loans Available in Dayton, NY By The Following ZIP Codes:

14041

Are Payday Loans Legal In Dayton, New York?

Payday Lending is Prohibited in New York

New York Loan Regulations

Legal StatusProhibited
Interest Rate (APR, %)Prohibited
Maximum Loan AmountProhibited
Minimum Loan TermProhibited
Maximum Loan TermProhibited
Number of Rollovers AllowedProhibited
Finance ChargesProhibited

Dayton, NY payday loan calculator

Payday Loans in Dayton, New York: Understanding the Regulations

When it comes to borrowing money, payday loans are a popular choice, particularly among those with poor credit. If you live in Dayton, New York, however, it is essential to understand the regulations surrounding payday loans before taking one out.

Payday Loans are Prohibited in New York

Before discussing the regulations specific to Dayton, it is important to note that payday loans are prohibited in the state of New York. Federal and state law restricts the practice of payday loans, making it illegal for lenders to operate such businesses.

New York’s Department of Financial Services (DFS) has taken several steps to protect its citizens from the predatory practices associated with payday loans. To that effect, the DFS introduced strict regulations prohibiting such businesses from operating in the state.

Payday Loan Regulations in Dayton, New York

While payday loans are illegal in New York, the neighboring state of Ohio is one of the few states in the US that allows payday lending. Dayton, in particular, has become a hotbed for payday loans, especially among low-income borrowers who have difficulty accessing traditional forms of credit.

Although payday lending is legal in Ohio, Dayton enforces strict regulations limiting the number of loans, interest rates, and fees. These regulations provide guidelines for payday lending businesses, and those who operate otherwise face penalties.

Interest rates and fees

The State of Ohio regulates the maximum amount of interest payday lenders can charge at 28%, while Dayton sets the minimum at $15 for every $100 loan. This rate is relatively lower than what many payday lenders would charge in states that have no interest rate cap, such as Texas and Nevada.

Dayton’s regulations also limit the number of loans borrowers can take out per year, capping it at four loans in any given year. In addition, payday lenders cannot roll over or renew a loan beyond 90 days. To help borrowers manage their finances, payday lenders are required to provide installment plans that give borrowers at least 90 days to repay a loan.

Consumer Protections

Dayton’s payday loan regulations include several consumer protection measures. For instance, lenders must provide borrowers with a written contract containing the loan’s terms and conditions. The borrower has the right to rescind the loan within 24 hours of signing the contract and return the funds without incurring any fees or charges.

Lenders are also required to ensure that borrowers can repay the loans before signing them off. As a result, payday lenders must verify borrowers’ incomes and expenses, including rent or mortgage payments and utility bills, among other monthly expenses.

Interesting Facts and Statistics About Payday Loans in Dayton, New York

While payday loans may seem like a quick solution to cover urgent expenses, they can be quite costly. According to a study conducted by the Center for Responsible Lending, the average payday loan borrower ends up paying $793 in interest for a $325 loan. The study also found that 75% of all payday loan fees come from borrowers taking out new loans to pay back previous ones.

In Dayton, the average annual percentage rate (APR) for payday loans is 379%, compared to the national average of around 400%. This rate is also around 10 times the state’s maximum of 28%.

Apply Now – Connect with Potential Lenders Through TheGuaranteedLoans

If you live in Dayton, New York, and require a loan, it is essential to choose a reputable lender who follows state laws and regulations. At TheGuaranteedLoans, we provide a convenient and reliable platform where you can connect with our network of trusted lenders.

We are not a direct lender, but our platform streamlines the lending process, allowing you to access a variety of loan products, including payday loans, title loans, and installment loans, among others. Fill in our online application at your convenience, and we will provide you with a list of potential lenders to choose from. Our service is free, and you can expect a quick response from lenders.

Conclusion

Payday loans may seem like a quick fix for unexpected expenses, but in reality, they can do more harm than good. This is particularly true in states like New York, where payday lending is illegal, and regulators have taken strict measures to protect consumers from predatory lenders.

If you live in Dayton, Ohio, and require a loan, it is advisable to consider other loan options, such as personal loans or credit cards, which have more favorable rates and terms. However, if you decide to go for a payday loan, ensure that the lender follows the strict regulations set by Dayton, Ohio and protect your interests.

F.A.Q.

Are there any other options for fast cash in Dayton, New York?

Consumers in Dayton, New York may be able to access funds through a credit union or bank loan, or by using a credit card or personal loan. It is also possible to sell assets or ask friends or family for financial assistance.

Are payday loans legal in Dayton, New York?

No, payday loans are prohibited in the state of New York.