5 Best Payday Loan Lenders in Houston, Texas
Updated on : July 25th, 2022
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Nicknamed the “Space City,” Houston, Texas is known as the world capital for space travel and exploration as the home of the NASA Johnson Space Center which is one of the most popular international tourist attractions making it an “out of this world” city to visit.
What is also “out of this world” is the household debt that many Houstonians wrestle with. Understanding Houston, a collaborative initiative led by the Greater Houston Community Foundation, conducted a debt and credit study about Houston residents which revealed that high levels of debt are keeping people from upward mobility and accumulating wealth.
Debt can be stressful to deal with which is why payday loans are a convenient, short-term financial option.
Here are the 5 best payday loan lenders in Houston, Texas. We’ve provided answers to frequently asked payday loan questions We’ve also answered some commonly asked questions about payday loans so that you can be well-informed.
Are Payday Loans Legal in Houston, Texas?
According to the City of Houston Administration and Regulatory Affairs, payday loans are legal in Houston. In Houston, payday loan lenders are referred to as credit access businesses, and there are specific guidelines for payday loan lenders and customers.
For credit access businesses the following are required:
- Yearly registration of the payday loan business
- Regular maintenance of payday loan records
- Maintenance of quarterly reports that are filed under the Texas Consumer Credit Commissioner
For payday loan customers:
- Payday loans cannot be more than 20% of a customer’s gross monthly income
- Payday loan extensions are allowed up to three times
- Up to four payday loan repayment installments are allowed
The 5 Best Payday Loan Lenders in Houston, Texas
The following are the 5 best payday loan lenders in Houston. All payday loans are subject to an approval process that include
Please note that guaranteed payday loans are not available from these companies. Payday loan approvals are subject to meeting specific income, identification, and residency requirements. However, obtaining a payday loan is usually easier than other loan options.
LendYou is a loan broker that has been providing loan funding since 2005 in Houston and nationwide. As a broker, LendYou offers a platform that connects payday loan seekers with lenders. This allows customers to compare multiple lenders in order to select the payday loan with the best terms and conditions. The secure platform makes it easy for people to get the funding desired via reliable, reputable lenders.
We suggest LendYou for payday loans because
- High-quality customer service
- Lightening fast loan approvals
- Easy loan process
- All credit histories are welcome
- Transparent services and rates
Read our LendYou Complete Review to find out more about available payday loans.
For more than a decade, Max Cash has operated as an online broker connecting customers to payday loan funding. This company has aided millions in acquiring the financial services desired. The MaxCash platform makes it easy for customers to connect with numerous lenders that offer payday loans and other financial services.
Max Cash is a preferred choice for payday loans because:
- Quick and easy application process
- Excellent customer service
- Informative financial education articles
- Access to numerous payday lenders
Check out our Max Cash Payday Loans Full Review & Guide for more information about this online loan broker.
Check `n Go is a premier financial service provider with 25 years of experience helping people obtain payday loans. This company has 600 locations throughout the United States, and they have serviced over 46 million loans.
Check ’n Go is recommended for payday loans because:
- Get your payday loan funds fast with next business day direct deposit
- A quick and easy online application
- Handle all your payday loan information from signing loan documents to checking your payday loan balance with Check ‘n Go’s P360 account.
Contact Information:
- Address: 6606 Lawndale Street, Suite 300, Houston, TX 77023
- Phone: (713) 924-3000
Advance America provides payday loan services via an easy-to-complete online application. Customers also have the option of visiting a local store to complete the payday process. With 1,100 locations nationwide and more than 24 years in the financial services industry, Advance America is proud to have funded over 148 million loans.
Some reasons why Advance America is a good choice for a payday loan include:
- A quick loan approval process
- Receive payday loan funds the same day or within 24 hours
- A proud member of the Online Lender’s Alliance
- Bad credit is not a problem
Contact Information:
- Address: 2902 N. Shepherd Dr. Unit G, Houston, TX 77008
- Phone: (713) 861-0748
Magnolia Payday Loans is a loan provider offering payday, installment, and car title loans as well as check-cashing services in several states at 37 locations. This company prides itself on offering loan services at affordable rates with reasonable terms. Applicants can initiate the payday loan application online and can expect to visit a local store to complete the payday loan process.
To obtain a payday loan with Magnolia Payday Loans, you’ll need:
- Proof of residence via a state-issued identification ‘
- Proof of monthly income
- A valid checking account
Contact Information:
- Address: 712 Wilcrest Drive, #1003, Houston, TX 77042
- Phone: (346) 214-6685
What Is The Easiest Payday Loan To Get Online?
Payday loans are acquired by completing an application online or applying in person at a local branch.
The easiest way to obtain a payday loan is to be prepared. Have all of your qualifying details such as proof of income, valid state-issued identification, and checking account information readily available to help expedite the payday loan process.
The availability of payday loan funds is often determined by the type of payday loan application process you choose. For online payday loan applications, funds are often available within one business day depending on the lender. To learn more, we recommend contacting LendYou.
Do Payday Loans in Houston Have Instant Approval?
While payday loans are readily available, instant payday loans online with guaranteed approval are not common. This is due to the fact that payday loan applicants must meet certain requirements in order to receive a payday loan.
Without a credit check, the payday lenders must verify that the payday loan applicant is capable of repaying monies borrowed. This is done through a qualification process where the applicant supplies supporting information such as proof of income, a valid checking account, etc.
Given these requirements, not all applicants will be approved for a payday loan, and it is for this reason that instant approvals for payday loans are not offered.
To learn more about payday loans and why instant approvals payday loans aren’t offered, check out payday loans online with instant approval.
Do You Need A Credit Check For a Payday Loan in Dallas, Texas?
One of the main reasons payday loans are so popular is that they do not require a credit check like other loan products. In place of the credit check, the payday loan lender requires proof that the payday loan application is capable of repaying the loan. This is done by requesting proof of income and a valid bank account.
The proof of income confirms the ability to repay the loan while the bank account is used to either submit a check for the value of the loan or debit the bank account for the amount of the payday loan for repayment.
Given the importance of a bank account for a payday loan, if you are interested in a payday loan, but believe that you do not meet the bank account requirement, take a look at our post on the Best Checking Accounts For Bad Credit to find out how you can get a bank account with bad credit.
You can also contact LendYou for more information.
What Are the Requirements for Payday Loan in Houston, Texas?
In Houston, there are specific payday loan requirements that are mandated at both the state and local levels. The state-wide payday loan regulations set forth by the State of Texas financial code are more lenient when compared to the local payday loan ordinances implemented by cities such as Houston to protect consumers from predatory payday lending practices.
The general requirements for a payday loan according to the state of Texas regulations include:
- Payday loan applicants must be 18 years and older
- Proof of identity and residency
- Proof of income
- An active bank account that has been opened for at least 30 days
- The minimum loan term is 7 days; the maximum loan term is 180 days
- There are no specified terms for the number of loan renewals/rollovers
- There is no maximum number of payday loans allowed at one time
- There is no maximum loan amount
Payday loan requirements specific to Houston due to the local payday ordinance per DebtHammer include:
- The total amount of the payday loan, fees included, cannot exceed 20% of the borrower’s income.
- Payday loan companies must have a license to operate in Houston as a credit access business.
- Payday loan lenders are required to maintain current records of loan transactions
- Payday loan companies violating these requirements are subject to a $500 fee
Alternatives to Payday Loans
While payday loans are a common short-term, fast cash option, it is always good to have other options available. Title loans are a good option as they don’t require a credit check. With a title loan, your car is the collateral for the cash loan.
You will have to hand over your car title, which the title loan company will hold onto while you pay off the title loan. Don’t worry. You’ll still be able to drive your car while you pay off the title loan.
Once you pay off the title loan, your car title will be returned to you. If you fail to pay off the title loan, your car will be seized for repayment of the loan.
To find out if a title loan is a viable short-term, fast cash option for you, read this post on the best title loan companies in the United States.
Conclusion and Next Steps
Payday loans are a convenient fast cash option that does not require a credit check. When seeking a payday loan, it is important that you choose your payday loan provider in Houston wisely. The payday loan companies featured in this post have a solid reputation for providing payday loans in Houston while adhering to both state of Texas and local regulations and ordinances.
Get started with your payday loan application with LendYou. This reputable loan broker has a solid online platform that connects you to numerous lenders so that you can choose the payday loan that has the best terms and conditions for you.
When doing research, Credit Help Info relies on credible and authoritative sites. These research sources are provided so that you can see exactly where we get our information.
About the Author
Chris Morgan
Chris Morgan is a credit expert and founder of Credit Help Info. He has been featured in Addition Financial, GOBankingRates, MSN Money, Yahoo Finance, and many other publications. He has read hundreds of books and resources on finance and the credit industry. Because he did this, you don’t have to. As a school teacher for over 20 years, Chris enjoys taking complicated material and breaking it down into manageable information that’s easy to understand.
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