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Ohio Cash Advance

Where do you turn when you need a last minute cash advance to get you through until your next payday? Wouldn't it be great if there was a place that would lend you money for a short time to tide you over? In Ohio, you can turn to AdvanceCash.info to meet your Ohio cash advance needs. All you have to do to get started is visit our website at AdvanceCash.info and complete a brief application. In less than 60 minutes, the money will be in your pocket and you can take care of your financial obligations. It doesn't get much easier that that.

In the state of Ohio the cash advance industry is booming. In fact, Ohio is ranked eighth in terms of the number of cash advance lenders in the state. During a recent survey of Ohio cash advance lenders, it was determined that there were more than 1,374 lenders operating within the state. What is surprising is that even though there are a large number of cash advance establishments in Ohio, interest rates for these loans are among the lowest in the country. This makes residents of Ohio more likely to get a cash advance than residents of other states.

Ohio Cash Advance Lending Laws

Those applying for an Ohio cash advance are subject to an Annual Percentage Rate, or APR of 390%. While this seems very high to the casual observer, this rate actually translates into the lender charging up to a 15% interest rate on cash advances in the state of Ohio. This means that for every $100 borrowed in an Ohio cash advance, a $15 interest rate charge is added to the final payoff amount. If a customer borrows $100 from the cash advance lender, they are required to pay back $115, and if they borrow $500, they could be required to pay back a total of $575 to satisfy the terms of the agreement. The most that can be given to an individual borrower is $800 per cash advance, and in some cases, they have up to six months to complete the total repayment, though this varies according to lender.

It's inevitable that at some point you are going to need access to cash, but it will undoubtedly be days before it's time to get paid again. It seems like something always breaks when you are strapped for cash. If you are a resident of Ohio and this happens to you, there are options. One such option is to apply for an Ohio cash advance through a reputable lender such as AdvanceCash.info. We know that accidents happen, bills need to be paid, or you just need a bit of extra money to get you through until your paycheck arrives. With that in mind, we have developed an online application that takes just a few minutes to complete. Instead of waiting a week or longer to get the money you need, you can have access to the funds in a little as one hour. Just visit us on the Web at AdvanceCash.info to complete our secure and confidential application. With our excellent customer service professionals, you can have the money you need to pay the bills or make that purchase you have to have.

Not just any company is authorized to grant Ohio cash advances. In fact, those in the Ohio cash advance industry must obtain the proper permits and documentation of past practices. Any business entity wishing to become an Ohio cash advance lender must complete a general application and pay the $500 application fee. Additionally, a company wanting to provide Ohio cash advances must agree to an investigation that will look into the past practices of the company to determine if they are legitimate, ethical, and have the financial resources to be successful. This investigation costs $200, and the company must be able to prove that they have assets totaling a net worth of more than $100,000.

There are several fees associated with getting a cash advance in the state of Ohio. Lenders can charge up to a 5% monthly rate for services provided. This interest is not compounded, and if the money is paid back within the first month, any monthly charges for the remainder of the term of the loan can be refunded at the customer's request. Additionally, Ohio cash advance lenders are allowed by law to charge customers an origination fee. This fee cannot be more than $5 for each $50 borrowed. Finally, in the event that a check is returned to the lender marked insufficient funds, the lender can charge the borrower up to $20 to cover returned check fees.

Those lenders that are approved for Ohio cash advances must adhere to several government regulations. First, the license to operate as a cash advance business must be posted for the public to see. Secondly, the lender must provide a written contract with the terms and conditions of cash advance to customers. This contract should include the total amount of the advance, fees or interest rates associated with the advance, and the due date for repayment. Additionally, all contracts must include in bold print the following statement: "Warning: The rate of interest charged on this loan is higher than the average rate of interest charged by financial institutions on substantially similar loans."

In the event that immediate repayment is not able to be made, a borrower can defer their loans for up to six months. According to Ohio Law, the maximum amount of money that can be borrowed from one lender is $500 at a time.

Ohio Unemployment Statistics

Ohio unemployment rates have fluctuated between 3.4 and 7.0 over the past decade. In a survey conducted in January 2005, it was determined that the unemployment rate was 6.8% of the total population of Ohio. A survey conducted at the same time the following January determined that the rate had decreased to 6.1%, and that there were approximately 355,859 unemployed residents of Ohio.

Ohio Cash Advance - Cities

Akron Dayton Kent Middletown
Barberton Delaware Lakewood Newark
Bowling Green Dublin Lancaster North Olmsted
Brunswick Elyria Lima Reynoldsburg
Canton Euclid Lorain Springfield
Cincinnati Fairborn Mansfield Stow
Cleveland Fairfield Marion Toledo
Cleveland Heights Findlay Mason Warren
Columbus Grove City Massillon Westerville
Cuyahoga Falls Hamilton Mentor Youngstown