Fast Online Payday Loan [ AKRON ]
Possible types of loans:
- $100, $200, $300, $400, $500, $600, $700, $800, $900, 1000 dollars are emergency payday loans in Akron Ohio 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 – Akron, OH 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 Akron, OH, 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 :: Akron Ohio Direct Lenders (list of offline stores and agencies nearby)
| Company | Address | Phone |
|---|---|---|
| Eagle Loan | 1889 W Market St, Akron, OH 44313 | +1 330-861-0700 |
| CheckSmart | 1526 Vernon Odom Blvd, Akron, OH 44320 | +1 330-753-0377 |
| Advance America | 1417 S Arlington St, Akron, OH 44306 | +1 330-724-7222 |
| Advance America | 1684 W Market St, Akron, OH 44313 | +1 330-836-0646 |
| OneMain Financial | 790 Arlington Ridge #243, Akron, OH 44312 | +1 330-645-9205 |
| ACE Cash Express | Parking lot, 1420 Brittain Rd, Akron, OH 44310 | +1 330-634-0340 |
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Cash Advances, Payday Loans & Installment Loans in Akron, OH: A Complete Guide
When unexpected expenses hit in Akron, many residents turn to cash advances, payday loans, or installment loans for quick financial relief. While these options provide fast cash, they often come with high costs and risks. This guide explains Ohio’s lending laws, local alternatives, and smart borrowing strategies to help you make an informed decision.
I. Payday Loans & Cash Advances in Akron
What Are Payday Loans?
Payday loans (or cash advances) are short-term, high-cost loans designed to cover expenses until your next paycheck. In Akron, these loans typically:
- Range from $100 to $1,000
- Must be repaid in full within 14 to 30 days
- Charge high fees, leading to APRs of 400% or more
Ohio Payday Loan Regulations
Ohio has strict laws to protect borrowers:
✔ Maximum Loan Amount: $1,000
✔ Loan Term: Minimum 91 days (no single-payment loans allowed)
✔ Interest Rate Cap: 28% APR (plus a 5% origination fee)
✔ No Rollovers: Lenders cannot renew loans—borrowers must repay in full before taking a new loan
Example Cost: A $500 loan with a $25 origination fee + 28% APR over 3 months would cost about $540 total.
Risks of Payday Loans in Akron
- High costs compared to other loan types
- Debt cycle risk if unable to repay on time
- Bank overdraft fees if automatic withdrawals fail
II. Installment Loans in Akron
What Are Installment Loans?
Installment loans offer larger amounts ($1,000–$5,000) with longer repayment terms (3–24 months). They can be a better alternative to payday loans but still carry risks.
Ohio Installment Loan Rules
✔ No State APR Cap: Some lenders charge triple-digit APRs for bad credit borrowers
✔ Loan Terms: Typically 3–36 months
✔ Credit Checks: Most lenders check credit, but some offer no-credit-check loans at higher rates
Pros & Cons of Installment Loans
✔ Lower monthly payments than payday loans
✔ Longer repayment periods (more manageable)
❌ High APRs possible (especially for bad credit)
❌ Risk of long-term debt if payments are unaffordable
III. Better Alternatives in Akron
Before resorting to high-cost loans, consider these local resources:
1. Credit Union Loans
- Akron Firestone Credit Union – Offers low-rate emergency loans
- FirstMerit Credit Union (now Huntington) – Affordable small-dollar loans
2. Nonprofit & Community Assistance
- United Way of Summit & Medina – Emergency financial aid
- ACCESS Shelter – Housing and utility assistance
- Battered Women’s Shelter of Summit County – Financial help for domestic violence survivors
3. Employer & Government Programs
- City of Akron Utility Assistance – Payment plans for water/gas bills
- Summit County Department of Job & Family Services – Emergency relief programs
4. Side Hustles & Gig Work
- Drive for Uber/Lyft – Quick cash in Akron’s busy areas
- Temp agencies like Manpower – Short-term job opportunities
5. Borrow from Family or Friends
- Interest-free or low-cost loans avoid predatory lenders
IV. Warning Signs of Predatory Lenders
Watch out for these red flags when borrowing in Akron:
– No physical address (online-only lenders with no Ohio license)
– Demanding upfront fees before loan approval
– Pressuring you to borrow more than needed
– No clear repayment terms in the contract
– Threatening legal action for late payments
Always verify a lender’s license with the Ohio Division of Financial Institutions before borrowing.
V. Smart Borrowing Tips for Akron Residents
If you must take a loan, follow these steps:
1️⃣ Compare multiple lenders (check APRs, not just monthly payments)
2️⃣ Read the fine print (watch for hidden fees)
3️⃣ Avoid multiple loans at once (leads to debt spirals)
4️⃣ Set up payment reminders (avoid late fees)
5️⃣ Pay off early if possible (save on interest)
VI. Where to Get Help in Akron
For free financial counseling or to report predatory lenders:
- Ohio Attorney General’s Consumer Protection Section
- Apprisen Financial Counseling (local nonprofit)
- Akron Summit Community Action, Inc. (emergency aid)
