If you live in San Diego you can still get a payday loan, but do you know how much lenders can charge? And how much how you can borrow? Find out everything you need to know below.
San Diego is the second-largest city in the state of California, and it is the eighth-largest city in the country. With a population in excess of 1.3 million, there could be a large number of individuals in need of finance. If some of those people aren’t eligible for loans from banks or conventional lenders, they may be turning towards payday loans (also commonly referred to as cash advances) to help them tie up loose financial ends.
California state laws govern the functioning of payday lenders in San Diego, and these laws also set limits in terms of interest and fees. The same laws apply to lenders offering loans online and in-store. This guide will explain all the key aspects of taking out a payday loan in San Diego.
LendUp Payday Loans
LendUp offer borrowers a unique alternative to Payday Loans. As you borrow more your credit score increases. LendUp Are licensed under California law.
Min. Loan Amount: $100
Loan Term: 7-30 days
Turnaround Time: 1 business day
Total Costs: Depends on your credit score.
Must be 21+
No security needed
Confidential and secure!
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Read the LendUp Payday Loans terms and conditions.
Payday loan options in San Diego
Rates last updated September 30th, 2015
Max. Loan Amount
Term of Loan
Turnaround Time
Total Cost of Borrowing $100
LendUp Payday Loans
$1,000
7-30 days
1 business day
Depends on your credit score and state of residency
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Check into Cash Payday Loan
$1,000
Varies upon State
1-2 business days
Varies depending on the amount and your state of residency
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Trusted Loans Payday Loan
$1,000
Next payday
Next Business Day
Rates and fees are determined by the lender who approves you.
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Borrow Jet Loans
$1,000
Next payday
Next Business Day
$25 to $30 for every $100 borrowed
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Trusted Loans Personal Loan
$10,000
2-60 months
Next Business Day
APR ranges from 25-450% based on your credit score.
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LoanMart Car Title Loans
$50,000
1 business day
Based on the value of the car and your ability to make regular payments on time.
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Trusted Loans Installment Loan
$10,000
2-60 months
Next Business Day
APR ranges from 25-450% based on your credit score.
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CashLoansMax Payday Loans
$1,000
Next payday
Next Business Day
$25 to $30 for every $100 borrowed
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US Payday Cash Fast Loans
$1,000
Next payday
Next Business Day
$25 to $30 for every $100 borrowed
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Are payday loans legal in San Diego?
You’re able to apply for a payday loan of up to $300 in San Diego. The law requires that a payday lender should have a valid state license to provide these loans. Payday loan regulations fall under the California Civil Code 1789.30 and California Financial Code 23000.
If you find a payday loan provider that does not follow these regulations, you can submit a complaint to the California Department of Business Oversight (DBO).
Why should you consider taking out a San Diego payday loan?
There are various reasons why should you consider applying for a payday loan:
Bad credit is okay. If you have a bad credit rating getting a loan from a bank or other lender can be difficult. However, bad credit applicants with an ability to repay can be approved for payday loans in San Diego.
Get quick access to funds. Some payday lenders give borrowers access to approved funds within hours. Most can transfer the money to your bank account by the following business day.
Multiple options. When you’re looking for a cash advance in San Diego you get to choose from a number of lenders, and whether you want to apply in-store or online is up to you. More options may be available online as lenders then have the ability to offer loans in multiple states, including California.
Use money in any way. There is no hard and fast rule when it comes to what you can do with the money you get through a payday loan – you can use these funds for just about any legitimate purpose.
What will you be charged?
Here’s how much you’ll have to pay on a payday loan:
Annual percentage rate (APR). A 14-day $100 payday loan in San Diego is restricted to a 459% APR.
Fees. The deferred deposit transaction fee is limited to a maximum of 15% of the check’s face value. For a 14-day $100 loan, the finance charge cannot exceed $17.65.
Loan extension fees. As per California state law, you cannot rollover your payday loan.
Collection fees. In the event of your check not going through because of insufficient funds in your account, your lender can charge up to $15 as NSF fees.
Early repayment fee. You don’t have to worry about paying any penalty or fee if you choose to repay the loan before it is actually due.
How can I apply for a San Diego payday loan?
You can apply for a payday loan in San Diego by visiting a lender’s store and you can also apply online. In either case, you’ll have to meet the following eligibility criteria.
You are over 18 years old
You are a permanent resident of the US
You have a steady source of income
For the application you’ll need some key information:
Your complete name and date of birth
Your residential address, email address and phone number
Details from an identification document like your driver’s license or passport
Your employer’s name and contact details
Details about your income
Frequently asked questions
How much time does it take to apply online?
If you have the necessary information close by, you can complete the application in around 10 to 15 minutes.
How much time do I get to repay the loan?
The maximum term of payday loans or cash advances in San Diego is 31 days.
Can I be subject to criminal action if I don’t repay the loan?
No, but the lender has the right to initiate civil action.
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