Check your optionsYour request goes to a lending network partner, who shares it with lenders. Lenders set their own rates and decide whether to lend. There is no fee to use our service.
What Ohio law allows
| Product | Status | APR cap | Amount | Term | License | Law |
|---|---|---|---|---|---|---|
| Payday loans[1][2][3][4][5] | Allowed | 28% APR | Up to $1,000 | 91 days to 1 year | Short-Term Loan Law license, issued by the Ohio Department of Commerce, Division of... | Ohio Rev. Code 1321.35 to 1321.48; 1321.39; 1321.40; 1321.41 |
| Verified against the statute and regulator on September 23, 2026. Laws change; confirm with the regulator before you borrow. | ||||||
Bars place each APR cap on a 0 to 400% scale; the pin marks the cap. A striped bar means the statute sets no numeric cap.
The rules in full
Payday loans
- Rate cap
- Under the Ohio Fairness in Lending Act (House Bill 123, 2018, effective April 2019), which created the Short-Term Loan Law, short-term/payday-type loans are capped at 28% annual interest, with a maximum loan amount of $1,000 and a maximum term extended up to one year (i.e., allowing longer installment-style repayment rather than a single balloon payment).
- Fees
- Monthly maintenance fee not exceeding the lesser of 10% of the originally contracted loan amount or $30 (not charged to active-duty servicemembers or dependents); loan origination charge of 2% of the originally contracted amount for loans of $500 or more (Ohio Rev. Code 1321.40). Terms under 91 days are allowed only if the monthly payment does not exceed the greater of 6% of verified gross monthly income or 7% of verified net monthly income (1321.39). Total outstanding short-term principal across licensees capped at $2,500 (1321.41).
- License
- Short-Term Loan Law license, issued by the Ohio Department of Commerce, Division of Financial Institutions.
Full detail for every loan type: Ohio lending laws.
Help in Ohio
Money snapshot for Ohio
Other options in Ohio
Worth checking whatever your credit: these can cost less than a high-rate loan.
- Emergency loans in Ohio: allowed under Ohio law; see its limits and license rules.
- Installment loans in Ohio: allowed under Ohio law; see its limits and license rules.
- Personal loans in Ohio: allowed under Ohio law; see its limits and license rules.
- Credit union payday alternative loans (PALs). Federal credit unions may offer small loans of up to $2,000 with terms of up to 12 months and an APR no higher than 28%, under NCUA rules (12 CFR 701.21). You usually need to be a member.
- Nonprofit credit counseling. A counselor accredited by the National Foundation for Credit Counseling can help you build a budget or a debt management plan.
- Ask your creditor for a payment plan. Utilities, hospitals and many lenders offer hardship or extended payment plans if you ask before you miss a payment.
- Local assistance. Call 211, or visit 211.org, for emergency help with rent, utilities and food in Ohio.
Payday loans in nearby states
- West VirginiaNot allowed Not allowed
- IndianaAllowed Fee cap
- KentuckyAllowed Fee cap
- PennsylvaniaNot allowed Not allowed
- VirginiaAllowed 36% APR
Sources
- ohiohouse.gov/news/republican/ohio-house-approves-payday-lending-reform-legislation-97372. Retrieved September 23, 2026.
- lsc.ohio.gov/assets/organizations/legislative-service-commission/files/payday-lending-in-ohio.pdf. Retrieved September 23, 2026.
- wosu.org/news/2019-10-21/changes-in-ohio-short-term-lending-law-create-new-loan-landscape. Retrieved September 23, 2026.
- Justia. Ohio Rev. Code 1321.35 to 1321.48. Retrieved September 23, 2026.
- com.ohio.gov. Ohio Department of Commerce, Division of Financial Institutions. Retrieved September 23, 2026.
- National Low Income Housing Coalition. Out of Reach 2026: Ohio. Retrieved September 23, 2026.
- U.S. Census Bureau, Population Division. Vintage 2024 National and State Population Estimates. Retrieved September 23, 2026.
- U.S. Bureau of Labor Statistics. Local Area Unemployment Statistics (LAUS), All States, Seasonally Adjusted. Retrieved September 23, 2026.
Important disclosures
APRs vary by lender and state in Ohio. Each lender sets its own rates and terms and must show you the APR before you sign.
Representative example
- Amount borrowed
- $1,000
- Annual percentage rate (APR)
- 28%
- Repayment
- 12 monthly payments
- Payment
- $96.51
- Finance charge
- $158.12
- Total of payments
- $1,158.12
Example: a $1,000 payday loan at 28% APR repaid in 12 monthly payments of $96.51 costs $1,158.12 in total, including a finance charge of $158.12. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.
- BadCreditMD is not a lender or broker and does not make loans or credit decisions. When you submit a request, a lending network partner shares it with third-party lenders, and those lenders or the partner may pay us a fee for each referral. The lenders decide whether to offer you a loan.
- There is no fee to use BadCreditMD. Lenders or our lending network partner may pay us.
- Lenders set their own rates, fees and terms. Offers depend on your credit, income, state of residence and each lender's criteria.
- Our service is not available in all states, and not every loan type is available in every state.
- By submitting a request you consent to lenders checking your credit, which may affect your score, and to your information being shared with them.
- Submitting a request does not mean you will be approved or funded, or that you will receive any particular amount or rate.
- Short-term loans are costly and are not a long-term financial solution. Borrow only what you can repay on time.
- BadCreditMD publishes general information about loans and state rules. It is not legal or financial advice.
- BadCreditMD is operated by BadCreditMD, LLC, 30 N Gould St Ste N, Sheridan, WY 82801. Contact: pr@badcreditmd.com. Full details are on our disclosures page and disclaimer.
- Questions about a lender licensed in Ohio? Contact the Ohio Department of Commerce, Division of Financial Institutions or file a state complaint.
- You can submit a complaint about any lender to the Consumer Financial Protection Bureau at consumerfinance.gov/complaint.