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      Get The Payday Loan You Need. Fast.

      Online Payday Loans in Illinois

      Payday loans in Illinois can provide you with cash quickly. This can be used to cover unexpected expenses like car repairs and medical bills.

      What Is a Payday Loan and What Can You Use It For?

      A payday loan is a type of unsecured personal loan. They are considered a short-term loan. Typically a payday loan is for a smaller amount of money. A lender will provide you with a lump sum of cash and expect the loan to be repaid within a few weeks to a month.

      Most people will apply for a payday loan to cover unforeseen expenses. Commonly these expenses are related to car repairs, medical expenses, and utility bills.

      Payday Loan Requirements

      Payday loans do not require collateral. To be eligible for a payday loan lenders typically require the following:

      • Valid identification and an age of at least 18
      • US citizenship and residency in a state where payday lending is legal
      • An active checking account
      • Proof of income (not always proof of employment)

      Illinois Payday Laws and Regulations

      Payday lending is legal in the State of Illinois. They offer three types of payday loans that vary in APR and term length:

      • A small consumer loan has an APR of less than 99%.
      • A payday installment loan with a term length of 6 months or less and APR as high as 400%.
      • And general payday loans.

      Illinois payday loan rules and regulations are detailed below:

      • The maximum loan amount is $1000 or equal to 25% of the borrower's gross monthly income. For installment loans or any combination with an installment loan, this number is adjusted to 22.5% of the borrower's gross monthly income.
      • The general APR is around 404%.
      • Finance charges are limited to 15.5% per $100.
      • The payday loan term ranges from 13 days to 120 days and installment loans are legal. Installment loan terms are offered for 112 days to 180 days.
      • Installment loans can be rolled over once. Rollovers are not allowed for all other payday loan types.
      • You can take out no more than two loans at a time.
      • After a period of having a loan for 45 days, you must take a seven-day cooling-off period. The cooling-off period does not apply to payday loans.

      Credit Checks, Bad Credit History, and Payday Loans

      Payday lenders always run credit checks. Payday loans in Illinois with no credit check do not exist.

      Payday lenders run soft credit checks. Unlike hard credit checks, these credit checks do not affect your credit score. They are simply a review of your basic information, like a background check, and your credit history. Payday lenders may also use companies like Corelogic Teletrack or Experian's Clarity Services. These specialty credit agencies record all subprime lending products, such as payday loans, installment loans, and auto title loans.

      Even though payday lenders perform credit checks, bad credit may not preclude you from receiving payday loans in Illinois. Payday lenders commonly focus on the borrower's likelihood to repay the loan rather than their credit history or credit score.

      Receiving Payday Funds

      Same day payday loans in Illinois are possible, but most of the time you can expect to receive your funds the next business day. You must follow the guidelines below to have the greatest chance of receiving your money the same day you apply.

      • Apply on a weekday (not a weekend, holiday, or non-banking day)
      • Apply as early as possible
      • Get approved before the cut-off (typically it is around 10:30 am)

      Even if you meet the above guidelines, same-day funds are not guaranteed. On occasion, banks delay the posting of funds after the lender has initiated the transaction. If you do not receive your funds on the same day you will typically get them the following business day.

      If you apply on a weekend, holiday, or non-banking day you will likely get your money the next business day when the bank posts your lender's transaction to your account.

      Illinois Payday Loan Application Process

      Applying for a payday loan online is quick and easy:

      1. Submit your application online
      2. The matching service will match you with one of their hundreds of lenders ready to approve your loan
      3. The lender will have you sign a loan agreement on their website
      4. So the lender can transfer funds from your checking account upon the repayment date, you will sign an ACH authorization
      5. Upon completion, the lender will initiate the loan transfer. Your bank will then post the funds.

      Consider GreenStarCash For Emergency Cash

      Consider our service if you are looking for payday loans in the state of Illinois. We have partnered with hundreds of direct lenders who offer payday loans online. We may be able to improve your chances of securing a loan with poor credit compared to if you applied to lenders directly.

      Upon approval, you can usually expect your cash within the next business day.

      However, applying in person at the nearest payday loan storefront can be beneficial for those in an emergency who need cash quickly. Upon approval, you will get your money in cash immediately.

      Please use the list below to locate the nearest payday storefront in your city.

      Illinois Payday Loan Regulations
      Legal Status
      Interest Rate (APR)
      Maximum Loan Amount
      $1,000 (or 25% of the gross monthly income)
      Minimum Loan Term
      13 days
      Maximum Loan Term
      120 days
      Number of Rollovers Allowed
      Not Allowed
      Finance Charges
      15.5% per $100
      Find a Payday Loan Lender in Your City

      If you would prefer to apply for a payday loan in person instead of online, we’ve curated the most full and up-to-date list of Illinois payday loan lenders. To find a lender nearby, please choose your city from the list below.