Home –  Payday loans – How to Find Payday Loans in Illinois?

How to Find Payday Loans in Illinois?

Are you a resident of Illinois that has found yourself in a temporary financial struggle? A payday loan might be the solution you’ve been looking for.

An unexpected bill, an emergency travel situation, Christmas, and birthdays not factored into your budget?

From time to time we all find ourselves in need of some extra cash. But what happens when you don’t have a credit card or the interest rate is too high, and you don’t want to turn to friends and family for a helping hand?

This is where a payday loan comes in.

What Is A Payday Loan?

Unlike a regular personal loan which is considered a long-term commitment, a payday loan is a short-term solution to a short-term problem. Its purpose is revealed by its name.


It allows you to obtain a reasonable amount of cash to tie you over until your next paycheck, at which point you pay it back in one simple lump sum with a small fee, avoiding the ridiculous amounts of interest associated with other types of credit.

The process is fast, easy, and your credit score is not usually even a factor in the application.

Illinois Payday Loan Laws

Payday loans are regulated by each individual state, so the rules can differ depending on your location.

To ensure that they function effectively in Illinois, the local Government requires that you are not allowed to borrow more than 25% of your gross monthly income to a maximum of $1,000.

You can also not take out any more than two payday loans at any given time. Other than that you are free to pursue all payday loan opportunities from all legal providers.

How Does It Work?

Applying for online payday loans in Illinois, be it Chicago, Aurora, Joliet, or any other city couldn’t be easier. In fact, the whole process is conducted online with a simple form that can be completed in a matter of minutes.

All that’s required is that you are over 18 years old, are in regular employment, and have a bank account where the money can be deposited and then collected once the loan period is over.

There are no hidden fees or ridiculous interest rates, and at every step of the way, you will be fully informed of the terms. A copy of all the information you need will be emailed to you.

Approval is very fast and the money will usually be deposited into your designated bank account the next business day after approval is made, making it ideal if you need cash fast.

Then after your next payday rolls around the principal and a small fixed finance charge will be taken from the same account, completing the terms of the agreement.

You are then free at any time to apply for a new loan. Because your information is already on file the process will be even faster the second time around!

Do I Qualify?

The majority of the applicants are approved the same day, so long as they meet the basic requirements outlined above.

Because payday loans hinge on your next paycheck, payday lenders do not usually check your credit rating via 3 major bureaus. They believe that everybody deserves access to short-term financial help, so they don’t discriminate the way banks and other large lenders do.

Furthermore, they are not interested in what you need to use the cash for, that’s your personal business, and they don’t enforce any conditions or restrictions. If you want a cash advance so you can go on vacation, that’s fine with them.

Payday loans also do not negatively impact your credit score, unless of course, you fail to meet the terms.


The purpose of a payday loan is to help you out of a short-term financial spot, and should never be considered a long-term commitment or method of paying off other debts.

Failure to pay the full amount on the agreed-upon date could lead to extra fees and charges, and there is no guarantee that you will be offered an extension or renewal.

Like any other form of credit, failing to meet the terms will also be recorded on your credit rating and may negatively impact your ability to borrow in the future.

Is A Payday Loan For Me?

In light of the above information are you considering applying for a payday loan? If so here’s a quick checklist to ensure that this is the right choice for you.

  • Are you in need of a short-term cash injection to fund an unforeseen expense or emergency?
  • Are you over 18 and in regular employment, with the ability to pay back this advance with your next paycheck?

Thought the list would be longer?

It really is that simple, that’s why thousands of people just like you are successfully applying for payday loans in Illinois every day!