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Payday Loans in Texas

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If you work a regular 9 to 5, you probably need loans to help you keep up with recurrent bills and other expenses. Payday loans are perfect for this purpose. These loans are usually short-term, available on demand to consumers, and carry high-interest rates. Payday loans are also called check advance loans or cash advance loans.

In some states, payday loans are banned because of the ultra-high interest rates and their effects on consumer finance. However, you can apply and get a payday loan in Utah, Texas, and other states online too. In Texas, you can have up to two loans to cover emergency expenses like medical bills. There are several options available to Texas residents, and we’ve compiled some of them.

Best payday loans in Texas

If you stay in TX, here are some of the best lenders in Texas that offer payday loans.


paydaysay-payday-loans PayDaySay is an online loan company that helps thousands of customers with quick credit for urgent financial needs. The company is governed by Oceonica Corp and it is located on 30 N Gould St., Ste 1351, Sheridan, Wyoming 82801. At PayDaySay, You can borrow up to $5,000 with a good credit rating, while the least amount you can borrow is $100. The total amount you can borrow is limited to a percentage of your credit limit.  Loans on this app are charged at 24% APR without any additional fees. You also pay up to 3% or 5% for transaction charges. To get a loan on PayDaySay, you need to;

  • be a US citizen
  • over 18 years old
  • have an active bank account
  • prove stable employment

Ensure that you pay back your loan on time. Defaulters can get a lower credit score and also incur late penalty charges. PayDaySay has great customer service and interest rates. They are a great option for people living in TX, and it’s worth a try.


Pheabs Loans

Pheabs is a loan matching app that processes and funds loan requests within 24 hours. The company is located at 515 E Las Olas Boulevard, Suite 120, Fort Lauderdale FL 33301. When you apply for payday loans online Texas state, you are matched with a suitable lender with affordable rates. You can borrow anywhere from $100 to $35,000 depending on your credit rating and financial records.  The interest rates on payday loans vary depending on the lender you are paired with and other factors. You can expect to pay anywhere from 50% to 400% APR. Before you can qualify for a payday loan with Pheabs, you must:

  • be a US resident
  • be over the age of 18
  • have a stable income
  • earn up to $800 per month
  • have a live checking account
  • be able to afford repayments

Pheabs is perfect for people with a bad or low credit score. Their algorithm matches you with a suitable lender regardless of your credit history. You can also pay in monthly installments over 60 months or less, depending on the online installment loans with monthly payments amount.


Figloans Figloans is a finance company based in Texas/Tx that delivers credit-building alternatives to regular payday loans. They report to three main credit bureaus while saving almost 50% of loan fees. The company is located at 2245 Texas Drive Ste. 300, Sugar Land, Texas/Tx 77479. If you are new to fig loans, you can only borrow up to $500.

The payday loans online Texas state differ depending on a combination of multiple factors. Generally, you can expect to pay anywhere from 150% to 300% APR. You can apply for the loan online and get your funds released within the hour.

The repayment period for fig loans in Texas online is usually between four and six months. Before you can qualify for a loan, you need at least $1,400 monthly income and a net positive account balance. The APR on a fig loan is on the high side. However, if you want to build a good credit score, a fig loan is a good option. There are not many incentives for borrowing from fig loans, the loan amount is small, and the rates are high. This should not be your first option.

Cash Factory USA

cashfactoryusa Cash Factory is a loan borrowing company that organizes payday loans in approved states like TX. These loans are suited to help you with immediate expenses, and the standard offer is between $100 to $1,500. The company is located at 2233 Paradise Road LLC, d/b/a California.

When you get a Texas online loan from a cash factory, you can expect to pay anywhere from 6530 to 1,800% APR.  The maximum payday loans online Texas state term allowed by Cash Factory is 45 days.

If you are eligible, you can extend your due date, and you pay CAB fees along with any outstanding interest. All loan applications are processed and completed online, so there is no need to appear at any bank physically. For you to qualify for this loan, you need to;

  • be at least 18 years of age
  • have a $,1000+ monthly income
  • reside in the US
  • have a checking account.

Cash Factory USA is a legal credit access business in Texas, and they serve as a sure link to lenders. It is worth a try.

OneMain Financial

OneMain Financial This company is a trusted loan organization that has been in existence for more than 100 years. They have offices across New York, New Jersey, Pennsylvania, Michigan, and Illinois. OneMain financial loans are perfect for people with high income and good credit scores. The approved loan amount range from $1,500 to $20,000, and the interest rates vary according to your credit score.

If your credit score is lower than 635, you may not be eligible for a loan with this company. The payback period could be anywhere from 30 days to 12 months, depending on the loan amount and interest rates.

OneMain Financial offers a higher payday loan Utah, Texas and other states online and therefore has a more rigorous and thorough application system. Along with the basic age and income requirements, your credit score needs to be above 65, and you need to submit other important documents. If you are looking for a comfortable way to get bulk loans in Texas, this company is a perfect choice.

Like we said earlier, Texas payday loans online are short-term and used for emergency purposes. You can get quick cash through payday loans online Texas state. It is easy for a consumer to fall into debt with this kind of loan system, which is why it is outlawed in 16 states.

The businesses offering payday loans are guided and regulated by the Texas Finance Code, Chapter 393. In states like New York, South Dakota, and West Virginia, payday loans are illegal. However, Payday is legal in Texas.

This law covers the loan amount limit, loan term, finance charges, default penalties, interest rates, and so on. It is important to note that not all lenders are licensed by relevant Texas authorities. Some (Most) of them have to go through standard finance companies to help facilitate loan agreements.

Why might you need Texas payday loans?

Even though Texas payday loans online are advertised as emergency cash alternatives, most people use them to settle routine expenses. If you earn from paycheck to paycheck in Texas, you might need a payday loan to help you keep up with living expenses.

People usually take payday loans to help with car payments, mortgages, credit card bills, food, and rent. Most payday loans range from two weeks to one month. They are usually very high interest, and if you take them out consistently, you will end up paying far more than your credit.

The best time to take out a payday loan is when you need to cover emergency expenses like medical bills or legal fees. Furthermore, you should do thorough research on the lending company and its policies before you take out any loan.

Also, make sure your monthly paycheck can cover the expenses and avoid taking out new loans to cover recurrent expenses. This will send you down a debt spiral.

Terms for payday loans in Texas

There are 28 states in the US where payday loans are less regulated, and Texas is one of those states. If you want to get a loan in this state, you should know that it has the highest APR on average (664%).

However, the restriction on getting payday loans in Texas is very low. You can apply for multiple payday loans and reapply shortly after repayment. However, keep in mind that only 14% of payday loan borrowers can pay back their loans on time (if ever). Therefore, you should have a good debt management plan. If you plan to take out payday loans online Texas state, consider the following;

Loan Amounts

There is no credit limit for most payday loans. The loan amount you qualify for depends entirely on your lender, credit score, and monthly income. However, the fact is a high percentage of people that take out payday loans earn less than $10,000 a month. If you earn up to this amount or more, you can easily take out payday loans in thousands of dollars.

The average payday loan for a two-week term is $375. If you earn up to $1,000 per month, you can take out an emergency loan and pay it back easily. This will help you build your credit score faster and allow you to get access to better loans in the future.

Most loan companies also give out $500 – $1,000 to individuals with a $5,000 income or more. If you must take out a payday loan, it should not be more than 20% of your monthly income.

Loan Terms

You already know payday loans are short-term. According to the Texas payday loan laws, the maximum term limit for payday loans is 180 days or six months. This means your loan term can fall anywhere between this period.

The statute of limitations in Texas for a payday loan is 4 years. If you default on your payment and there’s no lawsuit within this period, then you are off the hook. However, you can be sure no lender will wait for their statute of limitations

Loan Rates

If you borrow a $100 payday loan, the amount you will have to repay will defer from lender to lender. The total repayable amount is based on your credit history, loan term, CAB fee, and interest charge. In the following table, we will take a comprehensive look at different loan amount schedules over 28 days, and the average amount you should expect to pay back on the due date.

Loan Amount Loan Term Annual Percentage Rate (APR) CAB Fee Interest Charge Scheduled Payback
$100 28 days 338% $24.98 $0.94 $125.92
$300 28 days 338% $74.94 $2.84 $377.78
$500 28 days 338% $124.90 $4.74 $629.64
$1,000 28 days 338% $249.80 $9.49 $1.259.29

Pros and Cons of payday loans in Texas

There are many arguments for and against payday loans in TX. Before you decide if it is worth your time and money, here are a few pros and cons you should weigh:


  • Online payday loans are easy to access. The entire process of applying and receiving funds takes less than 24 hours in most cases.
  • They are fast cash loans and therefore have fewer requirements and bottlenecks.
  • Payday loans are unsecured. You don’t need to mortgage your house or put up your car before receiving the loan.
  • Payday loans have minimal effect on your overall credit score. However, if you are borrowing through a third party or you’ve crossed loan amount limits, it will count significantly.


  • Texas online payday loans are expensive and short-term. The interest rates are a little too high, and that’s why they are banned in some states.
  • You can fall into a debt cycle. If you start borrowing regular payday loans, there’s a high probability that you won’t be able to stop.
  • Texas payday loans online are for emergencies only. Do not apply for them on a whim.

What will Texas payday loan cost?

If you take out a Texas payday loan online, the cost of that loan will be the combined result of your annual percentage rate (APR), cab fees, and interest charge. The loan term and the loan amount are also important. It is important to note that payday loan costs vary from lender to lender.

Let’s assume you take out $300, $400, and $500 simultaneously for four months at a steady 190% APR. For the $300 loan, you would have to pay $427.44 after four months. This means the cost of the loan is $127.44. For the $400 loan, you would have to pay back $569.88. The cost of the loan is $169.88. The table below will paint a better picture.

Loan Advance Loan Length Loan APR CAB fees Interest charge Repayment amount
$300 120 days 190% $121.19 $6.25 $427.44
$400 120 days 190% $161.55 $8.33 $569.88
$500 120 days 190% $201.94 $10.42 $712.36

Before you take a payday loan, you should confirm the repayment schedule and loan cost. You should also plan your finances accordingly so that you can meet up with the due date.

Texas payday loans if the Credit Rating Is Poor

If you walk into a bank or financial institution for a loan, you need a good credit rating to be approved.  However, payday loans don’t work that way. One of the advantages of payday loans is that lenders don’t require a credit history. Once you can show proof of monthly income, there’s no hard credit inquiry or follow-up.

In Texas, you can borrow payday loans from up to two or three organizations at a time.  If your credit rating is poor, try to level up your monthly income by taking on additional hours or switching jobs. This will open you up to higher loan amounts and longer loan terms from various financial institutions. Payday loans are not affected by poor credit ratings.

What are alternatives to Texas payday loans?

We’ve already established that payday loans are only meant for emergencies. However, people have basic expenses that must be met, and sometimes, regular income doesn’t cover those needs immediately. Before turning to an expensive payday loan, you should try out these alternatives.

  • Lending circles

Lending circles are a group of people that contribute money and lend to each other in case of emergencies. If you are ready to contribute to a group account with a trusted friend, that’s a great alternative to payday loans.

  • Family loans

If you find that you have to use all your income to settle payday loans and then reborrow from them, it might be time to get a family loan. This is a debt cycle that is usually hard to break without major cash flow.

  • Cash advance apps

If you have a predictable income, a cash advance app might just be your best option. Once these apps confirm your income, they can offer advances for little tips and fees. They are far cheaper than Texas payday loans online.


Should I take out a payday loan in Texas?

You can take out a payday loan in Texas. However, you should do it only for emergency purposes. Payday loans are expensive and should be used sparingly and as an option of last resort. 

Can I get a payday loan in Texas without an APR?

No. Payday lenders usually charge between $15 to $20 per $100 borrowed. Most lenders calculate interest rates on credit cards, mortgages, auto loans, and payday loans using annual percentage returns.

How many payday loans can you get in Texas?

There is no limit on the number of payday loans you can get in Texas. However, it is best to take loans one at a time. If you get into a debt cycle where you have to borrow to pay back another loan you borrowed, it will be difficult to break. Always manage your finances to avoid dicey money situations. 

Does Texas allow payday loans?

Yes. Payday loans are allowed in Texas. You can apply online or apply to any approved lender and get your funds within 24 hours. Payday loans are not allowed in over 12 states in the US.

Can Payday Loans sue you in Texas?

Yes. Payday lenders can sue you if you default in Texas. The statute of limitations for suing debt defaulters is 4 years. They can sue you within this period and get a court order for wage garnishment. 

Can payday loans garnish wages in Texas?

Wage garnishment happens when your employer withholds part of your wages for debt reasons. Your bank will receive a court order, and then part of your wages will be paid to your creditor as required by court judgment.

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