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Rhode Island Payday Loans

Life doesn't always go as planned. Expenses pop up from time to time that you simply don't have the ability to plan for. Whether you're low on cash between paychecks or need extra cash to help cover an emergency expense we can help. It happens to everyone now and again, and we are certainly able to help you when you need it. At, we understand that from time to time you may need a little extra help. By logging onto our website you can choose the payday loan product that is right for you. We have a variety of products to suit your various needs, and by completing our secure online application, we can help you get the money you need, just when you need it. When you're approved, the money is deposited into your bank account the same day. It only takes a few minutes to complete the process.

Laws in Rhode Island regarding Payday Loan Lending

Payday loans are completely legal in Rhode Island. The state permits borrowers to apply for loans up to 500 dollars. In Rhode Island, the minimum length of a Rhode Island payday loan contract is 13 days. There is no maximum term for the loan. Rhode Island payday lenders charge 15 percent interest for checks, meaning that for each 100 dollars borrowed, an additional 15 dollars must be repaid. When compared to standard non-payday loan products, this loan interest rate may seem extreme; however, as far as payday loan rates go, it is quite low.

When you consider the number of payday lending businesses in Rhode Island, you find that among the various states of the Union, Rhode Island has the fewest number. Considering Rhode Island's small size, it isn't surprising.

In Rhode Island, residents can get a cash advance with very little hassle in a quick, efficient manner. When Rhode Island residents need money in a hurry, they can turn to to get the funding they need. Rhode Island residents can get access to immediate cash by completing our simple, secure online application after choosing a payday loan product. We offer fast cash for any reason. We don't even ask why you need the money. As a result of the ease-of-use of our online application process, we are bringing Rhode Island payday loan products to those people who are in dire need of quick cash. Of course, we offer our payday loan products to residents of all 50 states.

Are you worried about being able to pay your bills? Are you coming to the due date of a credit card payment? Many credit cards will raise your rate to the highest allowed by law if you are even a single day late making your payment. Keep that from happening by applying online for one of our Rhode Island payday loan products. It can help you pay off bills, cover emergency expenses, and keep your good name intact. By using a payday loan, you can conveniently access money that you need in order to keep things running, and wait until your next payday to pay us back. Rhode Island residents can use our services in a pinch, and get their application approved quickly.

Thanks to our easy online application process, we are able to help you by giving you access to quick cash during those times when you absolutely have to have it. It allows you to have more flexibility in your budget, since you don't have to wait until your next paycheck to get the money you need. Our Rhode Island payday loan services give you the capability to do the things you have to do, and the best part is that it's all done from the comfort of your own home.

Of course, it isn't just bill-paying emergencies that we can help you solve. There are times in everyone's life when you see something you simply must have. Did you see a piece of clothing that was on sale for just the perfect price? Do you need to upgrade your computer, or did you forget that your anniversary was tomorrow? At you have the peace of mind of knowing that your information is held in the strictest confidence, and that you'll have the money you need quickly, easily, and with the minimum hassle.

While payday lending is certainly legal within Rhode Island, there are laws in place to protect the borrower. The laws govern the amount of interest and fees that a lender can charge for their service. Those fees must be 5 dollars, or 10 percent of the total amount of the check, whichever is greater.

Rhode Island payday lenders must have a schedule of fees and interest posted conspicuously at their place of business. All lenders are required to maintain a list of the forms of identification they will accept in order to issue their loans. The upper limit for a Rhode Island payday loan is 300 dollars and 14 days. As long as the amount of the written check does not exceed the 300 dollar limit, it is legal for a Rhode Island payday lender to defer the deposit of the check from the borrower.

Of course, all Rhode Island payday loans require a written contract between the borrower and lender. The contract must show the amount of the fees and the annual percentage rate for interest, in U.S. dollars. The term of the loan must also be outlined in the contract. While customers can have three payday loans at any given time, a payday lender can only issue a loan rollover once.

Rhode Island Unemployment Statistics

In January of 2006, the unemployment rate in Rhode Island was 5.7 percent. This means that a total of 34,126 people were without work at that time. This was the same rate as a year previously. Over the past decade, the rate has fluctuated between 3.7 and 7.2 percent.