Best Payday Loan Lenders in Rhode Island

Rhode Island is the only New England state that allows the use of payday loans. They became legal back in 2001, and nowadays, there are 28 storefronts statewide. The lenders on our list operate more than 95% of the available locations, making them the best choices for payday loans Rhode Island has to offer. Keep scrolling to find out more.

The Best Payday Loans in Rhode Island

Check'n Go Logo

Check ‘n Go

Real solutions for real people

Check ’n go opened its doors to customers in 1994. Their first storefront was in Kentucky, and they’ve since expanded their business to over 20 states. This company offers quick payday loans, with interest rates that fall well within the industry average. With 26 years of experience and 1,000 stores across the US, you can’t go wrong with Check ‘n Go.

Available in: AL, CA, DE, FL, HI, ID, IL, IN, IA, KS, KY, ME, MI, MS, MO, NE, NV, ND, OH, OK, RI, SC, TN, TX, UT, WI, WY

Loan amount: $50-$1,500 (some states might have a lower cap)

Loan term: 10-35 days

APR: Depends on the loan term (214.68-661.80%)

Min. credit score: N/A

Approval time: Almost instant

Funds available in: Same or next business day

Online application: Yes

Advance America

Advance America

Money today, momentum tomorrow.

One of the industry pioneers, Advance America has been in business since 1997. With over 1,400 physical stores across the continent and millions of clients served, Advance America offers some of the top payday loans on the market. They run a full-disclosure, no-nonsense kind of business where the customer always comes first.

Available in: AL, CA, CO, DE, FL, ID, IL, IN, IA, KS, KY, LA, MI, MS, MO, NE, NV, OH, OK, RI, SC, TN, TX, UT, VA, WA, WI, WY

Loan amount: Up to $1,000 (some states have a lower cap)

Loan term: 2-4 weeks

APR: Depends on the loan term (231-495%)

Min. credit score: N/A

Approval time: Almost instant

Funds available in: Same or next business day

Online application: Yes

Cash Central Logo

Cash Central

online lending made simple.

Looking for top online payday loans in the US? Cash Central could be an excellent place to start. This brand is state-licensed, which ensures the safety and credibility of its services. They operate solely as an online lender, meaning that in-store cash advances are unavailable.

Loan amount range: $100 to $200 (loan amount may increase based on personal qualifications)

Loan term: 14 to 30 days

APR: 486% on a 15-day loan

Min. credit score: N/A

Fees: $20 per $100 borrowed

Approval time: Almost instant

Funds available in: Same or next business day

Number of Mississippi stores: Online only

Online application: Yes

24/7 open: No

CashNetUSA Logo

CashNetUSA

With CashNetUSA, money’s on the way!

If you’re looking for a well-established company with long traditions and excellent reviews, then look no further. CashNetUSA has been in business since 2004, and they’ve partnered with more than four million customers across 18 states. They offer one of the best-rated payday loans in the industry.

Available in: AL, AK, CA, FL, HI, ME, MI, MN, NV, ND, OH, OK, OR, SD, TN, TX, WY

Loan amount: $100-$1,500 for first-time customers (some states have a lower cap)

Loan term: 14-35 days

APR: Depends on the loan term (208-520%)

Min. credit score: N/A

Approval time: Almost instant

Funds available in: Same business day if approved

Online application: Yes

Laws on Payday Loans in Rhode Island

We’ll give you a brief overview of the main requirements for payday lenders operating in the Ocean State, as well as about your rights as a consumer taking out a short-term loan.

State Law

Requirements for Payday Loans in Rhode Island

Bad Credit Rhode Island Payday Loans

The purpose of these cash advances is to cater to people with a below-average credit score. Having that in mind, it should be relatively simple to procure a loan in the Ocean State.

Failing to Repay a Payday Loan in Rhode Island

Criminal charges are forbidden, meaning that you cannot go to jail for deferring on a payday loan. However, civil lawsuits are allowed, which could lead to wage garnishment.

Reviews of the Top Payday Loans Rhode Island Has to Offer

Check ‘n Go

Check ‘n Go is one of the few lenders that offer in-store payday loans in the Ocean State. All of their services comply with the state’s regulations, and they always try their best to meet their customers’ needs. Check ‘n Go is licensed by the Rhode Island Department of Business Regulation.

Pros

Cons

Lending Offer Overview

Check ‘n Go runs one of the few state-licensed lending operations in Rhode Island. This brand doesn’t have many storefronts. Still, you can find them in all the major cities. If you wish to procure payday loans in RI, you’ve come to the right place. Their customers can get between $50 and $450, which they need to repay in 13 to 35 days. Compared with some other lenders, Check ‘n Go offers more affordable advances. You’ll need to pay a $10 fee per $100, which boils down to an APR between 121% and 260%. Only a single rollover per loan is allowed. However, keep in mind that you’ll still incur additional fees. This vendor doesn’t offer online payday loans in the Ocean State.

Other Features

Check ‘n Go is the place to be for everyone who requires quick access to in-store payday loans in Rhode Island. The entire application process is smooth and straightforward, and you could be on your way, cash in hand, in a matter of minutes. Borrowers can repay their loans in two ways — via automatic withdrawal and with in-store cash exchange. Check ‘n Go has an excellent customer support team that will be happy to respond to all your questions or concerns. Customers can reach them via email or by phone.

Advance America

Advance America dominates the local payday lending scene with 18 brick-and-mortar stores statewide. They offer some of the best payday loans in Rhode Island, which come with affordable fees to boot. This lender is licensed by the Rhode Island Department of Business Regulation.

Pros

Cons

Lending Offer Overview

If you want to have your cake and eat it too, then come to one of Advance America’s storefronts. They are the most readily available lender with very affordable fees. Their customers can expect the following terms for their payday loans in Rhode Island — the loan amount ranges between $100 and $450 and needs to be repaid in up to 35 days. When it comes to fees, they mustn’t exceed 10% of the principal amount of $10 for each $100 you borrow. Based on the aforementioned finance charges, the APR can range between 121% and 260%, depending on the loan’s duration. Advance America allows a single rollover. Bear in mind that renewing a loan will come with additional costs regardless. The only downside in their offer is the lack of online payday loans.

Other Features

Customers who enjoy a straightforward and hassle-free experience should look no further.  Advance America always does its best to offer the best payday loans in Rhode Island. Their clients can apply in three ways — by phone, in a store, or online. You can expect near-instant approval times, so you’ll know where you stand in a matter of minutes. What separates them the most from their competitors is their “giving back” initiative. It is like a charity foundation that donates to both local and national non-profit organizations. Whenever you need further assistance, make sure to contact their fantastic customer support agents.

Cash Central

Cash Central is one of the first lenders that started offering online payday loans in the US. Their offer in Rhode Island is different from in-state lenders since they don’t have any storefronts. This allows them to issue loans under the Idaho Department of Finance.

Pros

Cons

Lending Offer Overview

Cash Central is an out-of-state lender, which means the Ocean States legislation doesn’t regulate them. This allows them to offer different terms and conditions for their online payday loans in Rhode Island. The loan amount is significantly larger than what you can get in a store, ranging between $100 and $800. Customers who require higher cash advances might find this preferable. On the other hand, Cash Central does charge considerably more. You’ll be expected to pay a steep fee of $27 per $100 borrowed. This translates into an APR of 281%-703% based on the loan term that usually goes between 14 and 35 days. Their clients can refinance a loan up to three times. However, debtors should exercise great caution because of above-average fees.

Other Features

This vendor offers convenient online payday loans to RI consumers with below-average credit scores. To acquire a cash advance, customers have to apply online and fill out a simple form. The process is relatively simple and doesn’t take a lot of time at all. WIth Cash Central providing swift loan authorization, you’ll usually wait less than 10 minutes for their decision. Customers who wish to renew their loan should submit a request before 7:45 PM. EST, one business day before a loan reaches maturity.

CashNetUSA

CashNetUSA is among the top places to get excellent online payday loans in Rhode Island. Their out-of-state license allows them to offer much higher loans than the competition, making them a perfect choice for more significant emergency expenses. They are licensed by the State of Nevada Department of Business and Industry.

Pros

Cons

Lending Offer Overview

CashNetUSA is another lender with an out-of-state license that offers payday loans Rhode Island consumers can get online. Their customer can get up to $1,500, which is more than three times above the state’s limit. This makes this vendor a perfect option for everyone that requires a larger sum of money. The loan needs to be repaid in 14 to 35 days, and the APR is closely linked to the loan’s duration. It starts at 260% (for the longest loan) and goes up to 651% (for the shortest one). CashNetUSA charges an above-average fee of $25 for each $100 you borrow. Their clients can extend a loan up to four times or 60 days (whichever is less). Borrowers who decide to do so will have to pay the initial fee before the rollover is allowed.

Other Features

Their clients can benefit from some of the best payday loans Rhode Island has to offer to consumers online. These cash advances come with a same-day deposit provided that your request is approved before 10:30 AM local time. The whole process is quick and simple, and the majority of applications are granted immediately. Applying for a loan with this provider doesn’t affect your FICO® score, as CashNetUSA employs alternative ways of verifying your credit score. They deserve a place among the best payday loan providers, as they allow their customers to access free financial education courses and tools, even after the debt has been settled.

Out-of-State Rhode Island Payday Loans

Online loans in Rhode Island are offered by out-of-state lenders allowing them to operate under a different set of rules. A vendor is legally permitted to do so only if they have no physical storefronts in the state. There are upsides and downsides to these online cash advances, so let’s check them out.

Benefits of Out-of-State Payday Loans in RI

Downsides of Out-of-State RI Payday Loans

FAQ

Are payday loans legal in Rhode Island?

Yes, payday loans have been legal in the Ocean State since 2001. In fact, Rhode Island is the only state in New England where you can take out a payday loan.

Can I take out multiple payday loans in Rhode Island?

Rhode Islanders can take simultaneous payday loans up to three times a year.

The Bottom Line

While there aren’t many payday loan vendors in the Ocean State, the ones available genuinely are a cut above the rest. In any case, consumers should always borrow from state-licensed lenders, as this is the only way to ensure their privacy and safety. Fortunately, our list includes only the top payday loans Rhode Island has to offer. Borrow responsibly!

Remember to always borrow responsibly and never take out more cash than you can reasonably pay back.

Your BalancingEverything Team

References:

Check ‘n Go

Advance America

CashCentral

CashNetUSA

RhodeIslandLaws

Report on payday loans in RI

RiStateInfo