Payday Loans in Torrance, Pennsylvania

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 Torrance, PA. Consider companies in other cities:

Company nameAddressZip codePhone number
PNC Bank 201 Jefferson Ave, Washington, PA 15301 +1 (724) 225 - 8070
Cash Mart 413 York St, Gettysburg, PA 17325 +1 (717) 334 - 4246
Robert Monkelis - Prudential Financial 103 N Gilpin St 209, Punxsutawney, PA 15767 +1 (814) 938 - 7026
United States Postal Service 477 Park Rd, Winfield, PA 17889 +1 (800) 275 - 8777
Michael Mizrachi - Mortgage Loan Officer 2751 Street Rd, Bensalem, PA 19020 +1 (215) 444 - 3996
Somerset Trust Company 500 Main St, Lilly, PA 15938 +1 (800) 972 - 1651
Zurilla Financial Services 1837 Goucher St, Johnstown, PA 15905 +1 (814) 255 - 1000
Fidelity Bank 100 Broadway St, Carnegie, PA 15106 +1 (412) 276 - 1266
BB&T 1104 N 4th St, Sunbury, PA 17801 +1 (570) 988 - 2265
Northwest Consumer Discount Company 107 E Mahoning St, Punxsutawney, PA 15767 +1 (814) 938 - 4500

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Torrance, PA, you can try to find different companies in big cities near by. Check out the following pages here: Same Day Loans in Pittsburgh, PA, Payday Loans in Reading, PA, Guaranteed Loans in Scranton, PA, Payday Loans in State College, PA, Payday Loans in Upper Darby, PA, Same Day Loans in Warminster, PA, Payday Loans in Wilkes-Barre, PA and Payday Loan Without a Credit Check in York, PA. 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 Torrance, PA.

Are Payday Loans Legal In Torrance, Pennsylvania?

Payday Lending is Prohibited in Pennsylvania

Pennsylvania Loan Regulations

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

Torrance, PA payday loan calculator

Understanding Payday Loans in Torrance, Pennsylvania

Payday loans seem like a quick solution to unexpected financial troubles. In Torrance, Pennsylvania, however, they are illegal under state laws. Before you consider taking out a payday loan, it is essential to understand the details surrounding them and what alternatives exist to give you the money you need without getting into more significant debts or legal trouble.

What are Payday Loans?

Payday loans are short-term loans that are meant to be a quick solution to financial troubles. They are often marketed to those who need cash fast to cover bills, emergencies, or other unexpected costs. Payday loans generally have high interest rates and fees, with an average interest rate of 400 percent, according to the Consumer Financial Protection Bureau (CFPB). Payday loans are often due in full on the borrower’s next payday*.

In Torrance, Pennsylvania, payday loans are considered illegal under Pennsylvania state law.

Why Are Payday Loans Illegal in Pennsylvania?

The Commonwealth of Pennsylvania, like many states, believes that payday loans take advantage of vulnerable consumers. Payday loans often target low-income individuals who have few other options. These loans are often marketed as a way to “bridge the gap” between paydays or to cover unexpected expenses. However, the high-interest rates and fees associated with payday loans often trap borrowers in a cycle of debt, leading them to take out multiple loans to cover previous loans. This cycle can be challenging to break and can lead to significant financial hardships for borrowers.

In Pennsylvania, the Consumer Discount Company Act, which regulates short-term loans, prohibits payday lending. This means that payday lending companies and other companies that offer small loans with high-interest rates are not allowed to operate in the state. Pennsylvania has enacted these strict laws to protect its consumers from predatory lenders and the pitfalls of payday loans

What Are the Alternatives to Payday Loans?

If you need money and cannot get a payday loan, several options are available in Torrance, Pennsylvania.

  • Credit unions: Credit unions are financial institutions that operate on a not-for-profit basis. They often offer small loans with lower interest rates than traditional banks.
  • Personal loans: Personal loans from banks or credit unions may have lower interest rates and longer repayment periods than payday loans.
  • Credit cards: Credit cards can be a helpful option if you need to make a purchase or pay a bill. However, be sure to pay off the balance in full each month to avoid high-interest rates and fees.
  • Selling items you no longer need: You can sell items you no longer need or want to generate some cash. Sites like eBay, Craigslist, and Facebook Marketplace can be a great way to sell items online.

Remember, borrowing money should not be taken lightly and should be done responsibly. Be sure to weigh all your options and choose the one that works best for your unique situation.

Interesting Facts and Statistics

  • According to the Pew Charitable Trust, the average payday loan borrower takes out ten loans a year and spends almost 200 days in debt.
  • The CFPB found that approximately 80 percent of payday loans are rolled over or renewed, meaning the borrower is unable to pay the loan off in full and must take out another loan.
  • Payday loans in Pennsylvania were prohibited by law in 1998 and have been illegal ever since. Pennsylvania is one of many states that have banned payday lending.

Apply Now

While TheGuaranteedLoans does not offer payday loans or other short-term loans, we connect borrowers with lenders who may be able to offer personal loans with more favorable terms and conditions. We are committed to helping you find a loan that is right for your financial situation. To begin your application, click here.

Please note that TheGuaranteedLoans is a connection service and not a direct lender. When you apply on our website, we will attempt to connect you with a lender in our network. The lender will provide the final loan decision.

*The term Payday Loan isn’t used commonly in PA since its an illegal product. The term is used here explicitly for information and educational purposes only.

F.A.Q.

Can I be charged with a crime for taking out a payday loan in Torrance, Pennsylvania?

It is illegal for lenders to offer payday loans in Torrance, Pennsylvania, so borrowers cannot be charged with a crime for taking out a payday loan. However, lenders may face criminal charges for engaging in illegal lending practices.

What should I do if I have already taken out a payday loan in Torrance, Pennsylvania?

If you have already taken out a payday loan in Torrance, Pennsylvania, you should contact the lender to try to negotiate a repayment plan. If the lender is unwilling to work with you, you may want to seek out alternative forms of financing or seek legal advice.