Fast Online Payday Loan [ FORT WAYNE ]
Possible types of loans:
- $100, $200, $300, $400, $500, $600, $700, $800, $900, 1000 dollars are emergency payday loans in Fort Wayne Indiana USA, which are issued for a period of 1, 2, 3 or 4 weeks (until your next salaries).
- $1500, $2000, $2500, $3000, $3500, $4000, $4500, $5000 – Fort Wayne, IN installment loans that can be taken out for terms of up to 2 years (most often 1, 6, 9, 12 or 3 months).
To get fast online cash advances (payday or personal loans, short-term loans, fast cash) with instant approval in Fort Wayne, IN, USA, use our simple 5-minute application form! The money will be credited to your bank account within 24-48 hours (or faster) after approval.
Cash Advance Near Me :: Fort Wayne Indiana Direct Lenders (list of offline stores and agencies nearby)
| Company | Address | Phone |
|---|---|---|
| OneMain Financial | 10353 Illinois Rd, Fort Wayne, IN 46814 | +1 260-483-0021 |
| Mariner Finance | 6445 W Jefferson Blvd, Fort Wayne, IN 46804 | +1 260-444-5749 |
| CheckSmart | 212 E Rudisill Blvd, Fort Wayne, IN 46806 | +1 260-456-3338 |
| Advance America | 6716 E State Blvd, Fort Wayne, IN 46815 | +1 260-749-6431 |
| ACE Cash Express | 1575 Goshen Ave, Fort Wayne, IN 46808 | +1 260-471-2274 |
| World Finance | 281 E Coliseum Blvd, Fort Wayne, IN 46805 | +1 260-222-2182 |
About Payday Loans in Fort Wayne Indiana
Minimum Requirements for a Payday Loan
To qualify for a payday loan in Fort Wayne, you must meet several basic criteria set by Indiana state law. While individual lenders may have slight variations, you can generally expect to need the following:
- Age and Identity: You must be at least 18 years old. You will need to provide a valid, government-issued photo ID, such as an Indiana driver’s license or state ID card.
- Proof of Income: Lenders need to verify that you have a reliable source of funds to repay the loan. This is a non-negotiable requirement. You can typically use recent pay stubs, bank statements showing direct deposits, or documentation for benefits like Social Security or unemployment.
- Active Checking Account: You must have an active checking account in your name. The lender will use this account to deposit the loan funds and will require authorization to electronically withdraw the repayment amount on the due date.
- Social Security Number: You will need to provide your SSN for identity verification purposes.
- Contact Information: You must provide valid contact details, including a residential address, a working phone number, and often an email address.
A key characteristic of payday loans is that lenders typically do not perform a hard credit check through the major bureaus (Experian, Equifax, TransUnion). Their primary concern is your current income and ability to repay.
Terms and Costs of Small Short-Term Loans in Fort Wayne, Indiana
Indiana state law, specifically the Uniform Consumer Credit Code (UCCC), provides the regulatory framework for payday loans, which are officially known as “High Cost Consumer Loans” or “Small Loans.” These laws set strict caps on amounts, fees, and terms.
- Maximum Loan Amount: The maximum amount a borrower can receive is $605.
- Fee and Interest Structure: Indiana law mandates a specific fee schedule based on the loan amount, which includes both a finance charge and an administrative fee.
- For a loan of $250 or less, the maximum finance charge is 15% of the amount advanced. On a $250 loan, this is a $37.50 fee.
- For a loan between $251 and $400, the maximum finance charge is 13% of the amount advanced. On a $400 loan, this is a $52 fee.
- For a loan between $401 and $605, the maximum finance charge is 10% of the amount advanced. On a $605 loan, this is a $60.50 fee.
- Lenders are also permitted to charge a monthly maintenance fee of the lesser of $5 or 2.5% of the loan amount.
- Annual Percentage Rate (APR): While the flat fees might seem manageable, they translate to extremely high APRs due to the short loan term. For example, a $250 loan with a $37.50 fee due in two weeks has an APR of approximately 391%.
- Loan Term: The minimum loan term is 14 days. While there is no state-mandated maximum term, the standard practice is for the loan to be due in full on your next payday, typically within two to four weeks.
- Cooling-Off Period: After a loan has been outstanding for one-third of its original term, you have the right to request an Extended Payment Plan (EPP) if you cannot repay. This plan must allow you to repay the loan in at least two substantially equal installments. You can only use one EPP per loan.
- Right to Rescind: You have the right to cancel the loan agreement at no cost by the end of the next business day by returning the full principal amount.
